4 ms·
There's a difference between having a net worth of a million dollars, ten million dollars and a hundred million dollars. There's also a world of a difference be
by hnbad 4y ago
There's a difference between having a net worth of a million dollars, ten million dollars and a hundred million dollars. There's also a world of a difference between having a million dollars and making millions of dollars every year.
If you own your house, you can easily be a "millionaire" based on the total cost of ownership but that doesn't mean you have anywhere near the disposable income or institutional power as an exec making upwards of 5 million dollars per year.
- chasd00 4y agothat's correct, there may be a lot of millionaires in terms of total wealth but very few can walk into a Porsche dealership and write a check for two 911 turbos.
- blamazon 4y agoA check? You're gonna pass on all those credit card points?
- TEP_Kim_Il_Sung 4y agoYou can be paying a mortgage on a house worth 100,000 dollars, have a dead-end job, live paycheck to paycheck, with no more than 1000 dollars in savings, and still count as a net-worth millionaire.
- 8n4vidtmkvmk 4y agoHuh? Wouldn't that put your net-worth at $101,000 minus the amount owing on your mortgage?
- TEP_Kim_Il_Sung 4y agoNot mine, no. I have no house.
- TEP_Kim_Il_Sung 4y agoI suppose some agencies count your ability to generate revenue?
- 8n4vidtmkvmk 4y agoNo. Networth is your current value, not future.
- astura 4y agoNo they don't.
- astura 4y agoNo you can't, that's not what "net-worth millionaire" is. Net worth is assets minus liabilities. If you had no savings or investments and a $100,000 house with a $99,000 mortgage your net worth would be $1,000, not a million dollars.