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A millionaire ain't squat

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posted on Nov, 5 2005 @ 07:26 PM
I don't think having a million dollars is that great anymore. Think about it; if all of your assets are worth 1M how much of that is liquid? your house can't easily be sold for cash. and people don;t want to touch thier bonds. so that leaves about 20000 in the bank as cash. And if it took you your whole life to save that muh money you aren't likely to go out and live it up. I would say 20 million is rich and 100 million is real wealth these days.

posted on Nov, 5 2005 @ 07:34 PM
Of course not...I bet a fairly large percentage of families in the U.S. have a net wealth around that, and they're not rich.

posted on Nov, 17 2005 @ 10:05 PM
200,000 house

40,000 in cars

60,000 in furnishings

That still leaves 700,000 in the bank.

with a 6 mo T-bill at 4.35%

Annual dividend = $30, 450.

Not bad, considering you have no home or car payments, and best of all, NO TAXES!!!! I could live on 2500 a month, and not work, just fine, thanks.

Obviously, a cheaper house, or a little bit of risk in your portfolio, could make it even sweeter.

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