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Old 02-03-2012, 10:31 PM
 
Location: http://www.johnscreekrealtypartners.com
953 posts, read 2,775,941 times
Reputation: 408

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One of my favorite author and inspiration in my early 20s is Dr. Thomas J Stanley. He is a native Georgian and also a former UGA professor who has done extensive research on millionaires.

Here is a table of the median home price millionaires live in. In Southern California, it may be difficult to fit in this matrix due to the high housing costs, but one of the beauties living in Atlanta is that you can totally do it.

Average net worth $1,493,804 Average home value: $404,240
Average net worth $3,416,267 Average home value: $620,779
Average net worth $6,859,864 Average home value: $1,034,411
Average net worth $13,687,961 Average home value: $1,818,699
Average net worth $59,919,891 Average home value: $2,735,436


7,900,000 americans have a networth of $1,000,000 or more excluding primary residence
1,140,000 americans have a networth of $5,000,000 or more excluding primary residence
350,000 americans have a networth of $10,000,000 or more excluding primary residence - at this stage invested properly, you and your family is financially free.
77,500 americans have a networth of $30,000,000 or more excluding primary residence - These guys are known as ultra high networth.

Not going into too much detail: the asset allocation of many multi-millionaires with a networth of $1M - $5M look something like this.

Marketable Securities - 35-45%
Privately Held businesses - 25 - 35%
Real Estate - 23-29% - primary residence usually takes up 11-13%.

If you are a visionary entreprenuer with big dreams... Atlanta is probably one of the best places I can think of where you make this happen from 2012 - 2020.

It is quite funny when the advice i continually see here in City-data-Atlanta to the northerners is, "If you don't have a job, don't move here."

I think the correct advice should be to the northerners, "If you want to be an entrepreneur and want the best chances to succeed, move to Atlanta!"

Last edited by mrpanda; 02-03-2012 at 10:52 PM..
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Old 02-03-2012, 10:56 PM
 
10,287 posts, read 12,397,783 times
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Quote:
Originally Posted by arjay57 View Post
There are plenty of folks in Atlanta for whom a $5-10 million house is no big deal at all.
Define plenty
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Old 02-03-2012, 11:21 PM
 
Location: Acworth
1,352 posts, read 3,769,708 times
Reputation: 466
born into money
struck it rich by chance (zuckenberg et al)
stole it (all variations)
investors/contractors
ceos (bonuses are a cool thing, no?)
divorced women from california! (yes, know a few. )
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Old 02-16-2012, 08:31 PM
 
1 posts, read 4,816 times
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One of my friends live in those million dollar mansions. He is in financial services and has many offices across the US. I can put him in touch with you, he loves sharing his business with others. Email me if you'd like.
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Old 02-17-2012, 08:40 AM
 
Location: North Fulton, GA
1,154 posts, read 2,269,688 times
Reputation: 647
The term "million dollar mansions" makes me chuckle because in Atlanta that is a very nice home while in the Connecticut town I lived, a million dollar home was essentially a "tear down." All a matter of geography and perspective.
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Old 02-17-2012, 09:04 AM
 
28,109 posts, read 24,632,008 times
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Quote:
Originally Posted by Vlajos View Post
Define plenty
Several thousand I'm sure.
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Old 02-17-2012, 04:13 PM
 
397 posts, read 699,703 times
Reputation: 214
Quote:
Originally Posted by cityrover View Post
born into money
struck it rich by chance (zuckenberg et al)
stole it (all variations)
investors/contractors
ceos (bonuses are a cool thing, no?)
divorced women from california! (yes, know a few. )
I wonder if any became millianaires by working hard, making good choices, maybe taking a few chances and actually earning it. Nah - who wants to believe THAT is possbile.
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Old 02-17-2012, 05:56 PM
 
28,109 posts, read 24,632,008 times
Reputation: 9523
Quote:
Originally Posted by bdawk View Post
I wonder if any became millianaires by working hard, making good choices, maybe taking a few chances and actually earning it. Nah - who wants to believe THAT is possbile.
Oh, I've got several friends who became wealthy (say $10 million plus) by working hard for many years, taking careful risks, saving, etc.

Obviously that doesn't happen for most of us but it's a mistake to assume that all wealthy people just lucked up. Some did, but a lot of them did it the old fashioned way.

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Old 02-21-2012, 11:20 AM
 
1,197 posts, read 3,356,971 times
Reputation: 297
Quote:
Originally Posted by arjay57 View Post
Several thousand I'm sure.
This was related to the question of -- for how many people in Atlanta, 5-10 million in house is no big deal.

Recently there was an article on Ultra High net worth individuals (30 million or more) by metro, and the number for Atlanta is around 960.

http://abcnews.go.com/Business/top-1...ry?id=14761048

I am assuming that since the wealthy diversify their holdings, and probably hold stocks / stock options etc., you would need to be UHNW for 5-10 million in one house.
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Old 02-21-2012, 12:05 PM
 
28,109 posts, read 24,632,008 times
Reputation: 9523
Quote:
Originally Posted by FromGA View Post
Recently there was an article on Ultra High net worth individuals (30 million or more) by metro, and the number for Atlanta is around 960.
Huh, could be but I would still guess there are more than that. But maybe not.

Wonder where they come up with these numbers?

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