Board 8 > Are you a millionaire?

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red sox 777
08/28/20 5:20:41 PM
#1:


Are you a millionaire?


For purposes of this poll, millionaire status is measured in USD, and is a net worth calculation (value of assets less value of debts).

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Uglyface2
08/28/20 8:51:32 PM
#2:


No, and I dont think I ever will be. I have too much debt and not enough income to get there.
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ChaosTonyV4
08/28/20 8:56:56 PM
#3:


8 yes votes?

lol sure

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IfGodCouldDie
08/28/20 9:54:51 PM
#4:


considering I have kids I consider myself a multimillionaire where it counts.

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SeabassDebeste
08/28/20 10:47:03 PM
#5:


ChaosTonyV4 posted...
8 yes votes?

lol sure

being a millionaire is not that uncommon! and there's definitely selection bias going on here
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banananor
08/28/20 11:09:57 PM
#6:


agreed

from what i'm aware of, "being a millionaire" has been a meme since at least the 1950s. I point to the show "the millionaire" that ran from 1955-1960 as an example

a million dollars is about 1/20th as impressive as it was back then due to inflation. it's still impressive, but it's not enough to retire early on

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ChaosTonyV4
08/28/20 11:16:25 PM
#7:


banananor posted...
a million dollars is about 1/20th as impressive as it was back then due to inflation. it's still impressive, but it's not enough to retire early on

Considering 95% of people never become millionaires, its definitely enough to retire early on.

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Phantom Dust.
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Dark Young Link
08/28/20 11:25:33 PM
#8:


Yes. I'm just temporary embarrassed right now.

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LOLIAmAnAlt
08/28/20 11:36:34 PM
#9:


banananor posted...
ve, but it's not enough to retire early on
Speak for yourself

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red sox 777
08/28/20 11:44:53 PM
#10:


ChaosTonyV4 posted...
Considering 95% of people never become millionaires, its definitely enough to retire early on.

But people also have a pension or social security. That provides an income stream during retirement but can't be cashed out. I think a lot more people would be millionaires if you included the present value of those retirement benefits.

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banananor
08/28/20 11:58:20 PM
#11:


ChaosTonyV4 posted...
Considering 95% of people never become millionaires, its definitely enough to retire early on.
i disagree with you because you're forgetting about social security

i've looked at the math because i hate work with a fiery passion. to me, retiring early means never working again and expecting to live 40+ years

retiring early means you don't get to benefit from social security. most non-millionaires completely depend on social security checks to survive in retirement. the average beneficiary gets $18,000 per year, so that might be throwing off your common sense, as that's a huge hidden power

you can't access social security until you're in your 60s. additionally, you have to work for 30 years in order to benefit proportionately from social security. so retiring early means you just straight up don't get it

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