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Dude, someone who has a freehold home and a retirement portfolio is a multimillionaire in many places.
There will absolutely be people with large assets and low income struggling to make ends meet.
Boohoo the millionaire can't afford all the luxuries they want. How will they make the payments on their BMW this month, they might have to switch to weekly tennis lessons instead of 3x weekly.
A million is easily enough to live a comfortable life and never work again. If they 'struggle to make ends meet' they are bad at budgeting. They are not working class, they do not need to work. Maybe they work because they want to live in a HCOL area and have extra luxuries but anybody with a million dollars worth of assets can stop working any time they feel like it.
Especially any multi-millionaire is distinctly bourgeois.
This is not true. A million dollars buys you a house, so basically cancels rent. But it does not feed you for life and lets you live without working.
There is a big difference between people who own a millon dollars in money and assets and those who have a million dollars in their checkings account.
Of course, afaik almost no billionaire's money is liquid either, it's in properties and businesses and shit.
Like I'm sure bezos has plenty liquid, but most of his billions is just a valuation of amazon/aws/whatever other shit he owns.
Like, if we wanted to take all his money we'd have to completely liquidate amazon and aws, and his house etc, selling the assets off to whoever can afford it, it's not just breaking into his Scrooge McDuck vault full gold coins.
Not that it's impossible, it just seems that many people don't realize this and think it is just the Scrooge McDuck vault.
Yes rich people don't just sit on piles of cash whether a millionaire or a billionaire.