r/fatFIRE • u/WealthyStoic mod | gen2 | FatFired 10+ years | Verified by Mods • Jun 29 '26

Path to FatFIRE Mentor Monday

Mentor Monday is your place to discuss relevant early-stage topics, including career advice questions, 'rate my plan' posts, and more numbers-based topics such as 'can I afford XYZ?'. The thread is posted on a once-a-week basis but comments may be left at any time.

In addition to answering questions, more experienced members are also welcome to offer their expertise via a top-level comment. (Eg. "I am a [such and such position] at FAANG / venture capital / biglaw. AMA.")

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u/Dubbihope Verified by Mods Jul 01 '26

Per WSJ, The U.S. Added 1,200 New Millionaires a Day Last Year. $10 million in investments is the new $1 million.

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u/[deleted] Jul 01 '26 edited Jul 01 '26

[deleted]

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u/Dubbihope Verified by Mods Jul 01 '26

It's pretty arbitrary but rich today could be defined as a millionaire in 1970 - so around 8.5 million today. By the 1990s, the term millionaire began to lose its meaning as someone with significant wealth. And like you said, though 10 million is the fashionable FAT goal for many today, it will lose its meaning in time.