Millionaires go bankrupt an average of 3.5 times in their lifetime.

However, the number of filings for the average person is relatively low. For example, even in states with high rates like Nevada and Alabama, the rate of Chapter 7 and Chapter 13 filings per household is still less than 1% annually (around 0.006-0.009 filings per household).

35% of bankruptcy filers had filed within the past 8 yrs, so many bankruptcy filers are repeat filers. (Remember 3.5x for millionaires and up to 0.009x per average person)

The way to become a millionaire is to file for bankruptcy a lot?

Or maybe bankruptcy affects the corporations/rich differently than how the average population is affected.

Is the game rigged? 🤷🏻‍♀️