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U.S. millionaires say $7 million not enough to be rich

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posted on Mar, 14 2011 @ 03:06 PM
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Geez, I think I'd do not too bad on only a few million, meself...




posted on Mar, 14 2011 @ 03:06 PM
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Oh yeah, I hear all the laughter and derision. Now do the math.hat are CD rates today? Hovering about 1%. You CAN get more with longer ranges, but your basic CD is about 1% yielding $10K per million invested per year. So $6 million invested will get you an average income. Anything else is terribly risky. If you had invested $6 million in real estate a few years ago your net worth would be less than half today.



posted on Mar, 14 2011 @ 03:07 PM
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reply to post by beezzer
 


Couldn't agree more. Class envy will get you nowhere unless you use it to motivate yourself. It is so very easy to be angry at the rich, I totally understand it and fall prey to it often. The situation as it is now makes us normal folks feel like we are at the mercy of a corrupt system. And well, that is probably right.......



posted on Mar, 14 2011 @ 03:07 PM
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Originally posted by MessOnTheFED!
reply to post by searching4truth
 


What you fail to understand is, just because you have 7 million does not mean you have to go out and buy the most expensive car or house you can afford. Thats stupid.


MOTF!


I understand that, but that wasn't the point of the article. The point was at what point do you feel (or rather those with over 7 million) "feel" wealthy. To feel wealthy you need to f you money, money you wipe your behind with, and 7 mil isn't going to do that.

The random grandma or grandpa who lives like a pauper but has millions stashed away, is not the subject of the article. It was addressing people concerned with maintaining their standard of living and who worry about out living their money.



posted on Mar, 14 2011 @ 03:07 PM
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Originally posted by searching4truth
Heck I don't even think you'd get a black American Express with 7 million liquid.


If so they're probably deliberately like that to make deluded rich people want even more money.

Keep them craving more for whatever reason and they forget to see that what they already have is enough.
edit on 14-3-2011 by Hitoshura because: (no reason given)



posted on Mar, 14 2011 @ 03:08 PM
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Originally posted by Turq1
Yet a 10 year old though would feel incredibly rich with say $100 a month. Bizarre really.

I think it's fair to say on the whole, we are really an ignorant bunch.


Lol. Not bizarre. A ten year old feels rich because his government (his parents) pay for everything else. No taxes or anything.

It's obvious that our economy is so screwed up and the line between the rich and the poor is so wide that seven million bucks isn't enough for the rich. Probably because of the super rich.



posted on Mar, 14 2011 @ 03:12 PM
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Originally posted by DevilJin
Lol. Not bizarre. A ten year old feels rich because his government (his parents) pay for everything else. No taxes or anything.


On the other hand though it's partly because they're not craving the insane amount of things that some rich people are.



posted on Mar, 14 2011 @ 03:12 PM
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reply to post by Hitoshura
 


Probably. To get one you have to pony up $7000 to join (only after they invite you) and you have to charge $250,000 a year, and this is after they personally assess all your finances.



posted on Mar, 14 2011 @ 03:13 PM
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Originally posted by Night Star
If you don't feel wealthy with 7 millions dollars, you are a greedy, spoiled and selfish individual. These people waste more money than most of us could ever dream of.


Do you feel wealthy with what you have now?

Well imagine what the 7mill'ers are feeling about the 1 bill'ers?

"How could they possibly need all that money. Those jerks. There could be more 7mill'ers out there!"

I am seeing the color black. OH! I am sensing a pot. And I think... a kettle.

I guess I should expand upon this thought to include the fact that there are people who are completely helpless in the world who wouldn't mind even a few bucks.

But I guess, maybe you think they should work for it?

.............

I rest my case.
edit on 3/14/2011 by TarzanBeta because: (no reason given)



posted on Mar, 14 2011 @ 03:13 PM
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How many Yachts can one water-ski behind?...



posted on Mar, 14 2011 @ 03:19 PM
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The main problem with people 'feeling unwealthy" with this kind of money is the fact that damn near most of the country is struggling right now.

Those of us making 20k or 30k a year, not to mention all of those who simply can't find a job, it seems like a slap in the face. Gas prices are brutal right now....all costs are going up and it's far more difficult for us to keep afloat...hell many aren't afloat and 1000's in debt.

And look, I'm happy for what I have. I can feed my child and I have a roof over my head which is far better than many others and I am thankful for that. That being said...times aren't getting ANY EASIER.
edit on 14-3-2011 by David9176 because: (no reason given)



posted on Mar, 14 2011 @ 03:19 PM
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What is the big deal if they feel $7 million is not enough to be “rich”? So long as they earn their money legally and dare-I-say… morally… then I see absolutely no problem with someone making $7 billion a year. America is a country with a tradition where if you can claw your way to the top you are rewarded with all the material riches it offers but you should also not be foolish and assume that being wealthy makes you exempt from being moral.

America was able to be that nation of lavishly wealthy people because we had something called ‘good Christian principles’. You did your best to avoid bribery, trickery, deceit, and excessive usury, you looked out for those economically below you and promoted the greatness of your community. Turning inward and hoarding the wealth without any form of help to the people will not reap a good result.

So work hard and become wealthy beyond your dreams but do not forget that you too are human.
edit on 3/14/2011 by Misoir because: (no reason given)



posted on Mar, 14 2011 @ 03:21 PM
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I guess I am really deluded to think I have it good. Two old cars, an old house, and a few hundred bucks in the bank. But you know what I have a great family, and that makes it OK.



posted on Mar, 14 2011 @ 03:21 PM
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This also proves how out-of-touch millionaire circles are with the rest of the people. Not surprising that someone who's biggest problem is not having enough millions is not going to want to be hanging around people who have to struggle just to eat and pay rent. They would never say $7 million is not enough in front of those people, or having middle class people in their social circles.



posted on Mar, 14 2011 @ 03:21 PM
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That makes sense.

I consider "rich" to have what I call money. You reach money when you have enough to say to anyone and not really care what they say or do.

I consider 10 million the absolute bottom number to be considered F-U money.

20 million is better.
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edit on 16-3-2011 by xpert11 because: Mod note

edit on 16-3-2011 by xpert11 because: (no reason given)



posted on Mar, 14 2011 @ 03:23 PM
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Originally posted by bsbray11
This also proves how out-of-touch millionaire circles are with the rest of the people. Not surprising that someone who's biggest problem is not having enough millions is not going to want to be hanging around people who have to struggle just to eat and pay rent. They would never say $7 million is not enough in front of those people, or having middle class people in their social circles.


Agreed, it's just madness on a big scale and they need to be more aware of what they have.

Love the Zen secret part at the end of your sig too!



posted on Mar, 14 2011 @ 03:24 PM
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Originally posted by David9176
The main problem with people 'feeling unwealthy" with this kind of money is the fact that damn near most of the country is struggling right now.

Those of us making 20k or 30k a year, not to mention all of those who simply can't find a job, it seems like a slap in the face. Gas prices are brutal right now....all costs are going up and it's far more difficult for us to keep afloat...hell many aren't afloat and 1000's in debt.


Understand how you feel, but you are just feeling the same feelings they are feeling.

You must realize that you don't need your computer and your internet connection.... But you have it.

That's one more thing you could have avoided, but you got it because you wanted it and it is a useful tool.

A new car is...or used to be... a more useful tool.

A servant is a very useful tool. (Let's say "assistant").

A huge house is a very useful tool if you want friends and parties.

Jewelry is useful in that it carries the two-fold sentiment/wealth capacity to it.

Etc... etc...

There ain't one wise person who is angry at those people for having human feelings. In fact, the wise are
simply just laughing to themselves... if you don't want that life, you don't gotta have it.

As well, it is true that people who make 7 mill are much more prone to helping more people out around them (people asking for money) and paying taxes and keeping track of more things (more debt = more responsibility).

So... don't focus so much on the numbers if you don't want to feel the same way they do! Ironically, you're allowing them to make you feel the same way and you're taking it out on them!




posted on Mar, 14 2011 @ 03:26 PM
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Originally posted by CanadianDream420
How many Yachts can one water-ski behind?...


Dude that's what the Scarab is hitched on the back for, the Helicopter to get you well in land and the Rolls Royce if you need to tool about town.

Why is it the poor insist on being poor?


edit on 14/3/11 by ProtoplasmicTraveler because: (no reason given)



posted on Mar, 14 2011 @ 03:26 PM
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They are millionaires but it seems they are not content! They see someone with more cash than them and they want to keep up with the Jones's, it's pathetic greed. I'd bet if they got more they would want more again, and again and so on! Happiness lies within, not out there disguised as a greenback......fool's. I guess it just goes to show that money doesn't equal happiness.

"Don't gain the world and lose your soul, wisdom is better than Silver and Gold" BOB MARLEY



posted on Mar, 14 2011 @ 03:34 PM
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It's a culture of individualism (rather than community) that drives that kind of irrationality. When you believe that you are going it alone, and so much is out of your control, you default to your main defense mechanism much more frequently - fear.

Taking care of yourself has been the popular trend for some time now in the USA. It's part of the 4 sociological cycles that modern civilizations experience. We are now coming to a heads with that line of thought, and the next cycle will put much more emphasis on community (to be interpreted by some as socialism no doubt). That is what's known as a first turning, a high. Where we rebuild what the crisis of the fourth turning destroyed.

1st turning = strengthening civic order, emphasis on community. A high (think FDR policies leading to the fluorishing middle class of the 50's, that sort of thing).

2nd turning = challenge to the high's love of institution, emphasis on spirituality. An awakening (think 60's, etc.)

3rd turning = people have had their fill of spirituality, emphasis on individual, waning interest in civic order. An unraveling (think 80's Reaganomics, etc.)

4th turning = society is at odds with itself and the social fabric rips apart. A crisis (er, now).

For further reading: www.fourthturning.com...




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