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Every person I know that has a million dollar net worth is either an entrepreneur or business owner.
by jaworrom 12y ago
Every person I know that has a million dollar net worth is either an entrepreneur or business owner.
- sokoloff 12y agoI suspect that you know a lot more people with a million dollar net worth and just don't realize it. A million dollar net worth is often externally indistinguishable from "suburban family just barely making ends meet". In fact, invisible millionaires are less likely to have a flashy new car in a huge McMansion garage than the "barely making it" crowd is, IME.
- throwaway344 12y agoThis is in the Million Next Door, kind of theme. http://en.wikipedia.org/wiki/The_Millionaire_Next_Door http://en.wikipedia.org/wiki/The_Millionaire_Next_Door
- sokoloff 12y agoThanks. I knew I'd read it ages ago, but couldn't place it.
- kyllo 12y agoYes, the only difference is, those who have accumulated that million dollar net worth by retirement age (and oftentimes about half of this is home equity), actually get to retire. The rest have to keep working to pay the bills.
- 4channer 12y agoI concur, but location is a massive factor in who looks like a millionaire and who doesn't. A single million in Cupertino gets you a house that's about 1500 square feet with a tiny yard, while just an hour south of Cupertino a million could get you a 4000 square feet house with several acres. Usually visible millionaires are probably a lot richer though or just really bad at saving. The question is who's going to do well in the long run, and that's most likely the one that's always saving.
- Nicholas_C 12y agoThat's probably sampling bias. I'm assuming you work in startups since you're on YC. I work for a large corporation and the only millionaires I've met in my short career are executives that climbed the ladder. The truth is probably somewhere in between.