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I have over a million dollars in assets (real estate), own a business and I always feel broke.
I’ve got a decamillionaire in my family who is scared to death of the spouse becoming a near vegetable, requiring expensive long-term care that would drain the coffers.
I think those most worried about money are those who work hardest to make sure they have the money they hope will put them beyond worry.
MILLIONAIRE IS SO 1980S, IT’S ALL ABOUT THE B-WORD NOW.
At the risk of being pedantic (which I am), a term cannot infer anything. A term can imply, however.
In the Bible, to the point of the article: gain is not godliness; but godliness with contentment is great gain. I like that idea. It seems that great wealth is only enjoyable if one is benevolent and thrifty. It's nice not to have to think about money; and that, it seems to me, is the upside of wealth.
I had a lot of money once, but for the benefit of any IRS agents who may be watching, I lost it all in a tragic boating accident.
Tell me what’s the point of being a millionaire and all this high profiling living, when you may have a massive heart attack or stroke in the next hour and you’re in Hades for eternity?
Most people forget that while you may plan the next 20 or 30 years of your life, there are others with more power than you - whom you never see or suspect, that can pull your silver cord (Ecclesiastes 12:6) and end it in the blink of an eye.
Life is a vapor and money is only temporary.
James 4:14
Psalm 144:4
Doesn’t matter if you are rich or poor...if you are not enjoying life then you are missing out.
Cuz it’s not a feeling?? It’s a spend as you go plan.
I’ll be at retirement age in 5 years. I keep reading that in order to retire at my current level of spending LESS work related expenses like clothes, lunches and travel; I’ll need a million bucks.
YIKES!
I’m projected to have a half a million at age 65. Guess I’ll keep working.
A million bucks ain’t worth what it used to be.
We are multi millionaires and have little saved up in retirement. All out money is in property-apartment complex and office buildings, house, and 3 companies we own.
We have zero debt and all property is paid off.
The goal is to sell business down the road and live off rental income.
-PJ
One million dollars in the year I was born had the same purchasing power as $9 million today.
https://www.calculator.net/inflation-calculator.html?cstartingamount1=1&cinyear1=2019&coutyear1=2020&calctype=1&x=98&y=15
Without a pension, you need a million dollars in the bank to retire. In the old days, a lot of people had pensions that were a hidden asset - one not on their personal balance sheet. And, quite frankly, people died earlier and didn’t need to plan long term for retirement like they have to now.
Hi.
Net worth = Assets - liabilities. (For an individual/family).
Not many people earn a million dollars a year (income/revenue).
A million dollars ain’t what it used to be.
5.56mm
Hoping to join this club in the next 12-18 months assuming stable/increasing stock and housing market (2-3 years otherwise). Always save and always work on getting promotions/self-improving. Once I hit $4-5mil, I’ll just live off dividends and retire—aiming before I hit 50.
The "wealthiest 1%" starts at around $10 million.
Here is a table from the following web article Nine Charts about Wealth Inequality in America (Updated). Data is from 2016 (reported in October 2017).
I'm breaking out the top 10% in 1% increments for more clarity.
| Net Worth Percentile |
Net Worth |
| 10.0% | -$950 |
| 20.0% | $4,800 |
| 30.0% | $18,900 |
| 40.0% | $49,100 |
| 50.0% | $97,300 |
| 60.0% | $170,000 |
| 70.0% | $279,000 |
| 80.0% | $499,350 |
| 90.0% | $1,186,570 |
| 91.0% | $1,317,500 |
| 92.0% | $1,445,700 |
| 93.0% | $1,686,700 |
| 94.0% | $2,044,300 |
| 95.0% | $2,387,250 |
| 96.0% | $2,838,000 |
| 97.0% | $3,693,600 |
| 98.0% | $5,794,500 |
| 99.0% | $10,400,000 |
-PJ
Some moron democrat here in KC said you can’t live in Naples Florida unless you have $15M to “play” with. I about threw up.
Because 1 million dollars isn’t adequate for a comfortable retirement any more.
I’m in the club, barely. My assets are in savings. I live in the Bay Area and consider myself in the middle class. The best way to lose a million is to live like a millionaire.