Just philosophically curious about where public opinion feels that that the “Millionaire” line seems to be drawn these days. The average cost of an average house is $1 million. Does having $1MM in cash do it? $1MM Retirement Accts? How many millions does someone need to have today to legitimately consider themselves a ”Millionaire”? Are you still a millionaire if your house in San Clemente falls off the cliff into the Pacific Ocean?
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Edited: Mar 23, 2023
Today…How much money defines a “Millionaire”?
Today…How much money defines a “Millionaire”?
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I’d say $10 million in equity. You lock it up anyway you choose. House. Stocks. CAsh In bank. But $10 million is still a lot of money. It’s not Uber rich throw money away rich but it’s definitely millionaire status.
but remember. Liberals only want to go after the super rich. Remember when they were only going to go after people making 75k a year or more? Those were the high wage earners. So we get the tax bracket set up to punish them.
then they create inflation and soon many people make 75. Many people are over taxed and the libs get you again. They’re the kings of selling now riches and winning future collections
1. No
2. No, what's the difference?
3 Cash on hand doesn't matter, only ROI triple net after tax
4 absolutely NOT, even after your insurance company cashes you out
if one doesn't make $1mm triple net after tax income each and every year
NOT a millionaire
the definition has never changed
only the perspective
you can thank the left for drawing that line
“Let me tell you about the very rich. They are different from you and me. They possess and enjoy early, and it does something to them, makes them soft where we are hard, and cynical where we are trustful, in a way that, unless you were born rich, it is very difficult to understand. They think, deep in their hearts, that they are better than we are because we had to discover the compensations and refuges of life for ourselves. Even when they enter deep into our world or sink below us, they still think that they are better than we are. They are different. ”
― F. Scott Fitzgerald
Back in the day, a million pounds Sterling income per year was quite the thing
I think if you try and compare it to long ago when that was a big deal you need a current income of 1M/year, with a net worth of 10M+ on top of that at a minimum (so basically 10X what things were in the 2000's). That just gets you to Millionaire status. Just take a page out of the liberal playbook and remember, it's all about FEELINGS. Do you feel rich, well, do ya?