{ "media_type": "text", "post_content": "If I have $500k saved up in a 401k and my spouse also has $500k saved in their 401k, can either one of us call ourselves a millionaire? Or are we household millionaires?", "post_id": "60ef4bfc07db6a00211253fb", "reply_count": 14, "vote_count": 3, "bowl_id": "59064a3cb12379001006592c", "bowl_name": "Personal Investment Chatter" }

If I have $500k saved up in a 401k and my spouse also has $500k saved in their 401k, can either one of us call ourselves a millionaire? Or are we household millionaires?

likefunny
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Unless you are planning to leave each other, does it matter? Who do you plan to tell you are a millionaire?

likefunny

You should make Millionaire couple tshirts

funnylikehelpful

Focus on your total networth, that is total assets minus total liabilties, not just what you have in your 401K accounts.

like

Total for the household or total individually?

I still don’t understand why you care about household or individual. If you are married it is both of yours.

like

Age? 401k doesn’t equal to millionaire status because it’s not liquid. If you are in your 50s, then yes.

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Net worth is net worth. Assets minus liabilities. Periodt. If you want to isolate liquid assets then maybe you'd call it "liquid net worth" but not sure that's used often

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Yeah, I'd say you're millionaires as a couple based on that.

Yes

How old are you, how long did it take get to 500K in 401K. Just curious.

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