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What do you consider a millionaire to be?

by XanBarksdale
5 replies
Sounds like a simple question, but the term "millionaire" is thrown aroud a lot on this board. So, what do you consider to be a millionaire:

Someone who has made $1M over their lifetime in IM?
Someone who has $1M in savings at any given time?
Someone who grosses $1M, but doesn't net that much?
Someone who profits $1M/year?

When you think about it like that there could be a lot of different categories. I'm sure there are a fair number of people who have grossed $1M online, but that doesn't mean that they have $1M sitting in their checking account!
#millionaire
  • Profile picture of the author ilee
    $1million in total assets minus debt. I thought that would be pretty obvious
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    • Profile picture of the author CyberAlien
      Originally Posted by ichl13 View Post

      $1million in total assets minus debt. I thought that would be pretty obvious
      Exactly that. But if you want to get technical, anyone could be a millionaire depending on what currency you want convert your cash into lol.
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    • Profile picture of the author J50
      Originally Posted by ichl13 View Post

      $1million in total assets minus debt. I thought that would be pretty obvious
      Pretty much this. Not including primary residence.
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      • Profile picture of the author John Rogers
        Originally Posted by Vokco View Post

        Pretty much this. Not including primary residence.
        Why not primary residence? It's net worth, which primary residence of course factors into.
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  • Profile picture of the author sonas
    For me personally I always think the true defination of a millionaire is someone who has in excess of 1 million in a currency such as Dollars UK Sterling or Euros in their bank account as liquid unencumbered funds.

    You can be a paper millionaire with assets but ultimately as has been seen with all the property or stock crashes over the years, on paper can mean nothing as it is only worth what it is worth the day you sell it.
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