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You're taking the term "millionaire" too literally. There was a time when a million dollars really was well beyond the reach of a salary worker, but a century o
by mark-r 10y ago
You're taking the term "millionaire" too literally. There was a time when a million dollars really was well beyond the reach of a salary worker, but a century of inflation took care of that. The term is still used as a synonym for "really really rich". Last time I heard the true threshold for really rich was about $100 million.
- closeparen 10y agoThe internet personal finance community rallies behind The Millionaire Next Door, which talks about the habits of the people I'm describing as if they were the same rich elite that flies on private jets. As a result, I try to call out abuse of the term millionaire whenever I see it.
- mark-r 10y agoI see your point, but "abuse" is in the eye of the beholder. It might be time to retire the word Millionaire, but unfortunately nothing has arisen to replace it.