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Post Reply Is it no longer a big deal to be a millionaire?
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40 / M / USA
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Posted 8/10/15
If I was a little bit older I'd say it's a big deal. For now, not so much. A million isn't a lot of money really. You should see how much it takes to retire these days and how much money is spent in ones lifetime.
Posted 8/11/15
Not a big deal?

Is this being financial stable not a big deal to you? Cuz it is to me.
Posted 8/11/15
One million dollars is not that much and won't last very long. That will all be gone in a few years.
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25 / M / Fredericton, NB
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Posted 8/11/15

anzn wrote:

Not a big deal?

Is this being financial stable not a big deal to you? Cuz it is to me.


Reading the initial post is a definite plus. Liquid assets worth a million, while technically 100 million net worth is considered a millionaire, the OP was referring to a singular million dollars.

It would be nice of course, but by no means would it make someone financial stable. You would still have to properly manage your expenditures, You might still want to choose a location with low real estate &/or property taxes.. etc.

I think the point stands, one million used to be a metric which you could fully live upon. Alas today it is no means the case, hell, if you have a child you will probably spend a few hundred thousand on them alone.
Posted 8/11/15

KnightOfZero1991 wrote:


anzn wrote:

Not a big deal?

Is this being financial stable not a big deal to you? Cuz it is to me.


Reading the initial post is a definite plus. Liquid assets worth a million, while technically 100 million net worth is considered a millionaire, the OP was referring to a singular million dollars.

It would be nice of course, but by no means would it make someone financial stable. You would still have to properly manage your expenditures, You might still want to choose a location with low real estate &/or property taxes.. etc.

I think the point stands, one million used to be a metric which you could fully live upon. Alas today it is no means the case, hell, if you have a child you will probably spend a few hundred thousand on them alone.

Obviously.
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25 / M / Fredericton, NB
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Posted 8/11/15

anzn wrote:

Obviously.


Well, sorrry. Your post just assumed being a millionaire meant financially stable, which it unfortunately doesn't nowadays.
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Posted 8/11/15

thestars201 wrote:

One million dollars is not that much and won't last very long. That will all be gone in a few years.


If you're terrible with money maybe. If I were to limit myself to £20k a year, I'd live for 50 years without having to work a single day. Even if something happens that requires a reasonable amount, that's still around 40 years. I don't even expect to live until I'm old, so it could last longer than I live.
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25 / M / NYC Metro Area
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Posted 8/11/15
The rate we are going at, not being in debt is a big deal
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Posted 8/23/15
You can barely get a detatched house for a million in Britain, you can become a millionnaire and then buy a house...it will all be gone! It is pocket money.
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Posted 8/23/15

Rinnybean wrote:

You can barely get a detatched house for a million in Britain, you can become a millionnaire and then buy a house...it will all be gone! It is pocket money.


Real estate is the best investment. Property in most locations always appreciates.
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Posted 8/23/15

biscuitnote wrote:


Rinnybean wrote:

You can barely get a detatched house for a million in Britain, you can become a millionnaire and then buy a house...it will all be gone! It is pocket money.


Real estate is the best investment. Property in most locations always appreciates.


I would get myself on the property ladder buying, renovating, renting and re-selling homes with a million, and try to make as much profit as possible!
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Posted 8/23/15

Rinnybean wrote:


biscuitnote wrote:


Rinnybean wrote:

You can barely get a detatched house for a million in Britain, you can become a millionnaire and then buy a house...it will all be gone! It is pocket money.


Real estate is the best investment. Property in most locations always appreciates.


I would get myself on the property ladder buying, renovating, renting and re-selling homes with a million, and try to make as much profit as possible!


Nice! That is my plan as well.
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Posted 8/23/15

biscuitnote wrote:


Rinnybean wrote:


biscuitnote wrote:


Rinnybean wrote:

You can barely get a detatched house for a million in Britain, you can become a millionnaire and then buy a house...it will all be gone! It is pocket money.


Real estate is the best investment. Property in most locations always appreciates.


I would get myself on the property ladder buying, renovating, renting and re-selling homes with a million, and try to make as much profit as possible!


Nice! That is my plan as well.


It's a great way to fatten the bank account perhaps we will cross paths in Ferrari's in future
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24 / M / USA
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Posted 8/23/15

Rinnybean wrote:


biscuitnote wrote:


Rinnybean wrote:


biscuitnote wrote:


Rinnybean wrote:

You can barely get a detatched house for a million in Britain, you can become a millionnaire and then buy a house...it will all be gone! It is pocket money.


Real estate is the best investment. Property in most locations always appreciates.


I would get myself on the property ladder buying, renovating, renting and re-selling homes with a million, and try to make as much profit as possible!


Nice! That is my plan as well.


It's a great way to fatten the bank account perhaps we will cross paths in Ferrari's in future


I hope so! I will raise a glass of scotch to your future success.
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Posted 8/23/15 , edited 8/23/15
It's not necessarily that it's no longer a big deal, so much as the US dollar doesn't travel as far as it used to. People also make obscene amounts of money now, even in saturated markets like the music industry and tech. There's more exposure than ever, more outlets and mediums through which to build your own empire than ever before, and consumerism is at an all-time high due to the ubiquitous technology at our disposal- through which we can trend-hop and emulate imbeciles who happened to strike gold. The mentality of those who work in environments like Silicon Valley, is essentially "A million means you had a good idea, but a billion legitimizes its credibility amongst the landscape." If you had said maybe a decade ago that someone made a million dollars, or millions of dollars, it would have been akin to saying someone had won the lottery based on talent or great execution. Nowadays, you have teenagers making that much in a couple of years of their competitive gaming career. You have tweens and teenagers developing apps that allow millions of people to interact with tremendous amounts of venture capitalist funding and interest. You have freak athletes like Lebron James who get a 90 million dollar shoe deal before they step foot in the pros or are legally allowed to drink. That window of amazement to desensitization when it comes to a sh*tload of money, is a good means through which you can effectively gauge the ludicrous greed, materialism, and excess of the globe. But it's almost exceptionally bad in America, because all of the people making money outside of major corporations, are usually f*cking idiots or horrible people.
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