Imagine you have a net worth of $1million
VS
Making $1million/ year
Clearly reaching a net worth of $1million is very easy.. But many think millionaire and do not realize these in section A are actually poor most the time.
Those in section B are the true millionaires.
Most people dont become millionaires until they retire. When did you become a millionaire in terms of "net worth"
OP: 28 years old hit "millionaire" net worth.
Current Yearly : Ranges between 200-300G
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04-26-2024, 12:16 PM #1
Being a millionaire has 2 different meanings
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04-26-2024, 12:18 PM #2
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04-26-2024, 12:20 PM #3
based
you aren't a real millionaire sloot, even though gays paid you some 000's in the bank account
no diddySubjecting yourself to self imposed discipline is the surest way to increase the quality of your existence
Never accept defeat
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The opposite of courage, in our society, is not cowardice but conformity
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04-26-2024, 02:14 PM #4
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04-26-2024, 02:17 PM #5
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04-26-2024, 02:25 PM #6
My biggest turn off of the idea of “net worth” is assets you don’t even have access to like certain life insurance policies count.
I agree with nutsy, from an etymology perspective there is one definition.
How people apply the word with respect to the image they are portraying of themselves may be exaggerated. But if they meet the definition, they meet the definition.I only read thread titles and my own posts.
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04-26-2024, 02:38 PM #7
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04-26-2024, 03:16 PM #8
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04-26-2024, 03:23 PM #9
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04-26-2024, 03:26 PM #10
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Being a G4P gape artist only has one meaning tho
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04-26-2024, 03:33 PM #11
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04-26-2024, 03:37 PM #12
What?
No.
Just because they can't spend endlessly like morons and still need basic money management skills doesn't mean they are poor you dumb f*ck. Odds are you must have no money management skills and will end up poor if you ever do hit a million net worth though. That's the difference between section A.1 and A.2. You sound like the temporary millionaire type.
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04-26-2024, 03:41 PM #13
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04-26-2024, 03:50 PM #14
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04-26-2024, 03:51 PM #15
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04-26-2024, 04:04 PM #16
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04-26-2024, 04:06 PM #17
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04-26-2024, 06:11 PM #18
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04-26-2024, 06:21 PM #19
Lol?
Example: 500k "estimate house" if you have this place payed off that is a 500k asset.
If you have 3 cars paid off estimated 250k that is a 250k asset.
What kind of dumb Millennial are you?
Net worth is all your assets - what you owe the bank.
In my case I never use a bank I pay everything in cash..
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04-26-2024, 06:24 PM #20
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04-26-2024, 06:30 PM #21
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04-26-2024, 06:39 PM #22
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04-26-2024, 06:46 PM #23
$1m net worth (£800k) is really not a lot of money brah.
This is a great example of how easy it is to burn through $2.5m /year lol.
"Compound interest is the eighth wonder of the world. He who understands it, earns it... he who doesn't... pays it" ~ Albert Einstein.
"I have no idols. I admire work, dedication and competence" ~ Ayrton Senna.
"I spent a lot of money on booze, birds and fast cars. The rest I just squandered" ~ George Best.
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04-26-2024, 09:58 PM #24
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Do you have to have a million in cash in order to be a millionaire?
You could inherit a beat down old house when grandpa dies thats unlivable but still worth a million dollars.
Would you still call yourself a millionaire?"To be a warrior is not a simple matter of wishing to be one. It is rather an endless struggle that will go on to the very last moment of our lives. Nobody is born a warrior, in exactly the same way that nobody is born an average man. We make ourselves into one or the other."-- Carlos Castaneda
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04-26-2024, 10:07 PM #25
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04-26-2024, 10:08 PM #26
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04-27-2024, 02:27 AM #27
These days the cut off to make upper class in the USA is around $150k household income, though obviously varies on location.
Upper class net worth cut off is around $800k.
I care more about those numbers than buzzwords like "millionaire." Especially as they continue to lose meaning whilst inflation gets crazy. Focusing on the current/future generations, those who end up working in middle class for most of the time range of ages 25-55 will end up a net-worth millionaire pretty easily.
IMO the optimal thing is to live like a class below you. So if you just barely make $150k for upper class cut off, you should be living like you're a $75k middle class worker in terms of CoL ($2k/mo or less rent, $1k/mo for bills + groceries, $500 for miscellaneous stuff / leisure / emergencies, the rest is savings/investments, no debts ideally). Only if you make $250k+ should you consider going towards upper-middle class or upper class CoL.i7-14700k
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Everything I write is NOT financial advice.
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04-27-2024, 02:35 AM #28
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04-27-2024, 04:30 AM #29
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By reading this post you acknowledge r32gojirra is an online persona and all posts by r32gojirra are satirical in nature. Comments by r32gojirra shall not reflect on the integrity and morals of the author portraying the online character nor any professional or contractual affiliates of the author.
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04-28-2024, 12:52 PM #30
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