Set My Financial Goal Too Low

When I was growing up, becoming a millionaire was considered an aspirational financial goal.  Very few people had a million dollars  and my parents bought a new house for $28,000.  A million dollars seemed very unattainable.  In 1965, there were 100,000 millionaires in the US.

Today, a million dollars seems much more achievable. In 2020, the there are over 18 million millionaires in the US.   That house I grew up in is valued at $421,000 on Zillow.   Many families have dual incomes, leading to over a million dollars salary over their lifetime.

I should have set a $100 million as a financial goal.   In 2020, there were about 80,000 households with over $100 million, which is close to the number of millionaires in 1965.  $100 million would have been a appropriate inflation adjusted goal.

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This is not financial advice. Please consult a professional advisor.

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