Why Many Millionaires Don't Feel Rich

Investopedia ^ | 02/12/2020 | By STEPHANIE TAYLOR CHRISTENSEN

[Trump.Deplorable]

Nope, I don’t have any loans, no mortgages and just the AMEX bill since I rarely carry cash, and I pay that off monthly.

I just feel broke because most of my income goes towards paying taxes

[Trump.Deplorable]

I own all my real estate, no loans.

Maintenance probably around 3-5K and property taxes around 20K a year

I don’t have any tenants, most of my property is industrial/commercial and vacant land, the commercial property is for my business

Price trends have been sideways since the RE crash of 2010 (NJ)

The zoning is what kills the property values, it is miszoned and will cost me a fortune in lawyers and fees to get it zoned right. Also rumored that my area will be getting sewers in 5 years so the values would go through the roof when that happens Right now sewers are about 2 miles away, 20 years ago they were over 20 miles away.

[Roman_War_Criminal]

Well I suppose that’s noble of him, but obsession over money turns into insanity eventually.

There’s the parable of the rich fool in Luke 12:13-21 that proves we might think we can spend all of our money and be good & fat for the rest of our days, but even the best laid out plans can become a disaster.

[PeterPrinciple]

I have over a million dollars in assets (real estate), own a business and I always feel broke.

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at 1% interest rate in the bank it will give you $10,000 so how rich do you feel?

[SaveFerris]

The good news is I’m only a million dollars short of being a millionaire.

I DO have a quarter in my pocket and $70 in the bank, though. Oh, and 69 cents in another account. Until some money comes in, lol. Should be next week, Lord willing.

But yes, I’m stocked on food. May not eat like a king but I’ve got stuff to eat.

[Kommodor]

Is your name Elmer J. Fudd, and do you own a mansion and a yacht?

Let’s face it - the reality is that inflation has eaten away at the value of wealth. Back in 1980, a new car cost maybe about $3,000. Today, the average car costs $30,000.

My parents bought their 40 acres and a farmhouse for $27,000 back in the 70’s. Today, a modest home on a postage stamp goes for 250K+.

So on and so on.

Today’s millionaire is simply yesterday’s 100,000-aire. It’s nice, but in the end it’s meaningless.

(Because if it really did mean anything, I’d quit my job today.)

[minnesota_bound]

FTA: y 1989, American millionaires had become quite common: there were about 1.5 million of them. So how many millionaires are there today? According to Credit Suisse’s 2019 Global Wealth Report, the U.S. has 18.6 million millionaires

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Thanks to the internet I bet.
Buy stock to get rich or start some business. Shoot, kids are making lots of money just opening boxes of toys on youtube videos.
My AMD stock has more then doubled in about 4 months from the $25.86 I bought it at. The stocks and our economy will continue it’s rise as long as the democrats are not in control in Washington.

If it gets to $100 a share then after taxes I will be a millionaire but I have lived poor for so long that I think after getting a house by a lake somewhere I will continue to watch my spending. Too many retirees go on a spending spree.

With social security of around $2,000 a month coming up in 5 years, it will cover much of my bills. The money from the stock will add to that total. I think I will be making almost twice after taxes more retired then when working.

I believe I can easily make a lot more with stocks, well at least I hope so : )
I have since 2014 bought Apple, Netflix for just a few months then bought Nvidia, and now AMD since Sept 2018.
Nvidia from $62.25 to $264 when sold.
Hoping AMD goes up as far!!

Do search on best performing stocks to find something to buy.

AMD - check the 6 month chart.
https://finance.yahoo.com/quote/AMD?p=AMD

[Roman_War_Criminal]

You are rich beyond all measure in Christ.

2 Corinthians 8:9

And the things of this world (Lust of the flest, lust of the eyes, pride of life) are quickly disappearing. This whole thread is full of that nonsense. Folks just don’t understand.