What is a "millionaire?"
Somebody with a positive net-worth of a million dollars or more?
A million dollars isn't that much these days. A house that you paid off decades ago and appreciated, a 401K, a savings account and a brokerage account get a lot of people there these days.
My bet is there are a lot more than 5 million in the USA.
A million won’t get you much in Los Angeles.
Correct. The real “millionaires” of today are the billionaires.
Roger that. Real Estate holdings alone would qualify many.
Personally? Not me, heh, not even close. But years ago in my grandparent's retirement community, there were many millionaires, and more than a few were millionaires several times over. This was a small retirement place, not unlike hundreds, maybe thousands, of others across the Sun Belt.
They didn't advertise their wealth, beyond the fact that many of the guys drove nice Cadillacs - that was *the* status symbol at that time, in that area. My grandfather got the new model, every year, "Because I can, now." Good for him, he earned every bit of it.
Otherwise, you'd never have a clue.
Nice folks, I miss them. They were "The Greatest Generation", indeed. No one that I met there ever asked me what I did for a living. Didn't care. I was "The Grandson", that was good enough.