Millionaire is the new middle class

[DrFeeIGood]

https://www.cnbc.com/2017/03/03/self...dle-class.html

After becoming a millionaire It wasn't a celebration, he says. Rather, it was a realization that "that's no money. Millionaire is the new middle class. ... When you get a million dollars today, you're going to realize, 'Oh, I've got about four or five years of money.' I know some of you think, 'I can live forever on that.' You're wrong."


I agree. In B 4 massive COPE.

[bobbydigitaloa]

A professional sales person said it...it has to be true.

Definition: Person with assets worth 1 million dollars or more.

Riveting tale...

[HairyCrotchGuy]

Lmao, I dont think even tradies would think a million is enough money for a life time

[460lbsbench]

then i'm poor

[miscbrah007]

$350k in 1980 is 1 000 000 in 2018 (without taking into account hidden inflation)

[GetNoBetter]

good thing im a trillionaire

[likeawashboard]

You can live the rest of your life off of a couple million dollars if you don't have a lot of large expenses.

[DrFeeIGood]

A professional sales person said it...it has to be true.

Congrats you have earned the star of cope
E
E P
P O
O C
EPOCope
O C
P O
E. P
E

[juvefan]

Income > net worth

Millionaire doesn’t mean chit if you ain’t 10k a day ceo

[Godfrd824]

If you invest a million and get a 5% ROI, that's $50k per year, many families live on much less than that. If you can't make a million last, you are a retard.

[xtrah]

A professional sales person said it...it has to be true.

aren't you a professional sales person

[propreffered7]

Dr. Feelgood. Regale us with your rags to riches story. Lets see that perserverance

Real talk. If you even qualify for a loan arent you prob middle class? Think the poor have good enough credit to sign off on one or even have someone cosign amidst the family?

[bobbydigitaloa]

Congrats you have earned the star of cope

It's not a cope...it doesn't affect me. For anyone that didn't read it...Grant Cardone (a sales person) stated "a million dollars isn't a lot of money". A millionaire is not $1m liquid cash...it's $1m in assets...that's home, business, retirement, bonds, etc...so yeah...what he is saying is not earth shattering.

You take a couple making $120k together with a $350k house, a couple 401(k) accounts, etc...it makes sense. What needs to be prevented is making young people believe this applies to them at 23...it doesn't.

aren't you a professional sales person

I'm a territory consultant. Now stop being a creep...

[Maestro]

In order to get to the 7-figures club he probably lives in an exorbitantly expensive region of the country and probably has expensive tastes in clothes and vacations and whatnot. Of course $1million isn't a lot when you live in Newport Beach, are trying to save up for a yacht have a wardrobe full of $6k suits eat at fine dining restaurants multiple times per week and travel overseas first class for vacation.

$1million is still a lot, and if you don't think so then maybe you just got lucky and are not as good at money management than you think.

[TruKnight]

inb4 miscers claim they make 350k/day

[Peter Ruby]

Too many factors to determine if you can survive on a million dollars. Location being the most important factor. Second is your spending habits. So in other words, that's a dumb statement.

[meenman83]

If you invest a million and get a 5% ROI, that's $50k per year, many families live on much less than that. If you can't make a million last, you are a retard.

/Thread, reps on r/c bro

[DrFeeIGood]

Too many factors to determine if you can survive on a million dollars. Location being the most important factor. Second is your spending habits. So in other words, that's a dumb statement.

No it’s not. 1 mill in Ankeny, Iowa is still middle class. A nice car costs the same regardless of location. Nice granite and fixtures, again the same regardless, just the land and maybe building costs are more.

[DrFeeIGood]

$1million is still a lot, and if you don't think so then maybe you just got lucky and are not as good at money management than you think.

A lot to a poor person, sure.

$2 million is the new million (dead srs)

[bobbydigitaloa]

No it’s not. 1 mill in Ankeny, Iowa is still middle class. A nice car costs the same regardless of location. Nice granite and fixtures, again the same regardless, just the land and maybe building costs are more.

Here is a "middle class" home in Ankeny lol



That's sarcasm by the way...it's almost $500k.

[BuildUpNow]

If you invest a million and get a 5% ROI, that's $50k per year, many families live on much less than that. If you can't make a million last, you are a retard.

Having $1 mil to invest and $1 mil in "assets" are almost entirely different though. I have quite a few older coworkers who probably have a $1mil in assets as their homes($600-800k) are paid off for and they have a decent retire acct($200-400k).

[DrFeeIGood]

Here is a "middle class" home in Ankeny lol



That's sarcasm by the way...it's almost $500k.

That’s a very middle class place. Good starter home when you’re 30-35.

[bobbydigitaloa]

That’s a very middle class place. Good starter home when you’re 30-35.

I get the troll, bro...I got it the first time to started this chit. lol

[Mr Beer]

Average house price in Sydney is a million dollars, granted that's kangaroo bucks but still. Me & Mrs Beer hit 1 million net worth this year and it's really not a lot of money.

[HomerJThompson]

"In the September 2014 Census Bureau report on income and poverty in the U.S., the median household income in America across all jobs was $51,939. That reflects 2013 information; 2014 data will be out in September of this year. That figure was not statistically different from 2012, reflecting continually stagnant wages.Mar 4, 2016"

based on that it would take 25 years to make a million after taxes right, lol at op

[Siskoadama]

You cant live of a million for life, that's true but you can damn sure live on it more than a few years if you have a low-mid range lifestyle. If you got a family and other things then yea it wont last too long but if you are single, living in a regular apartment or house, don't have fancy cars, etc. You can milk a million for a long time. Way more than a handful of years.

[Siskoadama]

"In the September 2014 Census Bureau report on income and poverty in the U.S., the median household income in America across all jobs was $51,939. That reflects 2013 information; 2014 data will be out in September of this year. That figure was not statistically different from 2012, reflecting continually stagnant wages.Mar 4, 2016"

based on that it would take 25 years to make a million after taxes right, lol at op

And trust me, I could get by on WAY less than 52 grand a year. I could live humbly but comfortably on 30. Apartment, regular car. Expenses would be covered and I'd still have about a grand of just spending money every month. Wouldn't be balling by any means but I could certainly be fine.

[Jasonw1178]

Because "being a millionaire" meaning being rich was coined well over 50 years ago. Of course it's a benchmark but doesn't make you rich. It wasn't that long ago when if you had 1 million dollars in the bank you would get 60-80K a year in interest back when mutual funds were 6-8% interest.

[RainingBlood]

ITT: No one knows what a "millionaire" is.

Having everything you own total to a million dollars is easy. Do you people even houses?

[DrFeeIGood]

Having everything you own total to a million dollars is easy.

Thank you.