Reply to If you have a networth of $1m plus do you consider yourself a "millionare"?

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Reply to "If you have a networth of $1m plus do you consider yourself a "millionare"?"

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[quote=Anonymous][quote=Anonymous]HaHaHa...of course you're a millionaire just like Dr. Evil! The only issue is that a million dollars isn't worth as much as it was in 1950.  Only 2-3% of Americans have net worth over $1M. So you should feel pretty special. But, that means there are 10 million other people who are as wealthy or wealthier.  You can pity yourself for not being super wealthy or you can be grateful for being so much more fortunate than 98% of the rest of the population.

[b]BTW - If you and your spouse have household assets worth $1M, your individual net worth is just $500k.  And, what are those of you with large assets but low income doing with your assets?  Shouldn't you be earning far more from your investments than from your 9-5 paying under $100k? If so, when will you hit your number and start enjoying your money?[/b] [/quote]

We have assets of nearly $1.4 million.  About $800k if you exclude our primary residence.  Our investments have gained $30k since the beginning of the year, which is probably on par with our HHI (about $90k).  But we're not touching it for daily expenses.  Most is in IRAs or other retirement vehicles.  [/quote]

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