How many millionaires do we have here?

[HFS]

I’ve been a millionaire a few times before. Blew threw a few million in Korean Won (pronounced whaun). Made me feel super rich. Lol. But when you know the conversion rates it ain’t nothing

Italian Lira (before the euro).
It was about 1,300 Lira to 1 U.S. dollar.
First time I saw a tag on something in a shop window it was Lira 40 000.
(That's how they wrote 40 thousand.)
I was like 'For that? You're out of your mind.' Then found out the exchange rate.
Never went through a million Lira but spent some 50 thousand bills of it.

 

[ConstitutionCowboy]

I keep checkin' and come up short....

Woody

 

[SlugSlinger]

$1,000,000 is no where near what it was even 10 years ago. Now with Biden having the printing presses going nonstop, the dollar will drop like a rock.

Been working with a single income for 15 years. Paid off the house last year at 52. No debt at the current time, although I am not against taking on debt if the numbers work. I refinanced my home a few years back under Obama @1.99%. Had money in a high yield savings that was earning 2.49% before the rates started to drop.

Clark Howard and Dave Ramsay has helped. But having degrees in finance and accounting has also gave me a good basis for investing and understanding how to grow value over time.

 

[ConstitutionCowboy]

There are days I feel like a million bucks..

Me too. All green and wrinkled ...

Woody

 

[Shinneryfarmer]

I keep checkin' and come up short....

Woody

No need to even waste time checking I know I'm way short.

 

[Perplexed]

Does “my cup runneth over” count?

 

[ForsakenConservative]

There are days I feel like a million bucks..

....and their antlers are still stuck in my back!

 

[ConstitutionCowboy]

We have a little over in investments alone . We are debt free other than a little on credit cards. I'm sure Biden will get us in a depression before he leaves the White House.

He has to get us into a depression. It's the only way that the free market can be crumbled to the rubble they will need to attempt a socialist country. That said, anything built upon rubble will collapse at the first tremor. That also said, many good things will grow out of a pile of rubble. Only the free market can survive a depression or grow out of the devastation a depression can cause. History proves it to be so. Bank on yourself and you'll have what it takes to survive a depression. That's my two cents.

Woody

 

[ConstitutionCowboy]

If you've done your best and have never been a burden on anyone else, you are rich.

Woody

 

[trbii]

Gents, a millionaire is a definition. Not a feeling or a guess. It’s very easy and simple to calculate (and I appreciate the humility of many here).

The equation is: the value of what you own MINUS the cost of what you owe= net worth.

Sometimes that net worth number fluctuates as real estate grows or weakens or the stock market pulls back or roars forward.
I’m curious why money/“worth”/finances are so verboten to discuss in the US? I get some of the social oddities and uncomfortableness, but even parents that refuse to talk to their children, kids who refuse to seek the guidance of elders and churches, schools and employers that don’t whisper a peep.

The US would be so much better off if those from the age of 8-88 better understood finances, debt loads, cash flow, investments, interest rates and financial vehicles. For if they did, NOT a one of the critters in CONgress today would be there and this country would be much, much better off with her vast resources!

Very well said. I agree with your observations. I heard two older relatives talking when I was about ten years old, an Aunt remarked about her and my Uncle buying some stock. I blurted out the first thing that came into my kids mind, “how much stock?”. Got shut down and embarrassed by my Grandmother,”huh uh, huh uh honey, we don’t ask that!” My introduction to unwanted detailed, direct questions about financials. Also have noticed thru the years of adulthood, discussing details of investing, handling money, income level, personal worth causes ego flare ups, jealousy, anger with many people.