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Old 01-24-2012, 08:19 AM
 
3,458 posts, read 2,991,504 times
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Quote:
Originally Posted by warriorfan63 View Post
It's titled accurately. It says "millionaire" next door and anybody with a positive net worth of a million+ would be a millionaire.
I didn't say it was inaccurate, I just implied it was misleading. Many people use "millionaire" as slang for "rich", as opposed to "someone with a net worth of $1 million." We can see that here on this thread.
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Old 01-24-2012, 11:44 AM
 
Location: Moscow
2,078 posts, read 2,905,128 times
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Quote:
Originally Posted by BLUEDIAMOND64 View Post
Harry, any ones out there that are more current that you would recommend?

Dr. Stanley himself has written a more up to date book, Stop Acting Rich. It includes data up to 2009. I haven't read it, but am told his findings haven't changed.
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Old 01-24-2012, 03:17 PM
 
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Just a quick update folks, went to the library today. They have 12 copies of it and they are all out! Must be a good one! Thanks for all the feedback.
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Old 01-24-2012, 04:24 PM
 
64,598 posts, read 66,129,695 times
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Quote:
Originally Posted by warriorfan63 View Post
It's titled accurately. It says "millionaire" next door and anybody with a positive net worth of a million+ would be a millionaire.
actually the term millionaire today is more representive of a life style than a dollar figure.

mostly because the millionaire of old would take 7.8 million today to mean the same thing.

its supposed to imply a bentley in he driveway,a butler and not having to work to make ends meet.

today a millionaire is a working couple with a house and 2 leased hondas in the driveway and 2 kids in college..
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Old 01-24-2012, 06:07 PM
 
Location: Central CT, sometimes NH.
3,255 posts, read 4,909,331 times
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Quote:
Originally Posted by mathjak107 View Post
actually the term millionaire today is more representive of a life style than a dollar figure.

mostly because the millionaire of old would take 7.8 million today to mean the same thing.

its supposed to imply a bentley in he driveway,a butler and not having to work to make ends meet.

today a millionaire is a working couple with a house and 2 leased hondas in the driveway and 2 kids in college..
Nope. They wouldn't lease the Hondas, they would own them. They would probably be at least 5 years old.
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Old 01-24-2012, 06:18 PM
 
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Yep, Lincolnia, I could not rep you but most millionaires own their cars and they are not late models.
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Old 01-24-2012, 06:35 PM
 
9,312 posts, read 11,148,519 times
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Good reading, easy book (not 500+ pages of economics).

I just wonder if they ever define the fine line between saving for the future and enjoying your life every day....

Yes skip a cup of 6 bucks latte, drive a car 10 years, payoff your mortgage in 15, wear old clothes and drop dead at age 49 with plenty of money for your heirs to spend!

I had a close friend die at age 54 of cancer. He had gone through a rotten divorce, had a "paid for" recently renovated apartment, a few bucks in the bank (but not loaded rich by any means). His regrets in life had nothing to do with money (lack or surplus of it).

His last quote to me was: "I have money in a 401K I will never spend, a daughter I will never see graduate from high school/college and would never get to walk down the aisle, never see her get married..... All of your plans for the future are derailed by your health today!"

You never know how many days left you have, don't sell yourself short on the little things that make you happy everyday!
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Old 01-24-2012, 06:41 PM
 
Location: Victoria TX
42,668 posts, read 71,556,197 times
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All my neighbors are millionaires. Every American making $10 an hour will earn a million in his lifetime, and if his wage is below that, social assistance benefits will kick in and bring lifetime earnings up to a million. A half million of that will be spent on health care, though, so he won't live like a millionaire.
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Old 01-25-2012, 02:18 AM
 
64,598 posts, read 66,129,695 times
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the term doesnt refer to earning the money over a lifetime, it means having it in assets.

heck i can be on welfare and collect a million dollars.

up until the big real estate many folks with a home and a few bucks in the bank had a million in assets. the car leasing business was never better. up until my last car i never owned a car , i only leased them. in fact if it wasnt for all the mileage i put on them now i would still do it.


i like getting a new one every couple of years so buying isnt a real value for me.

you would be surprised how many wealthy folks lease their cars. part of the fun of having a lot of dough is if you enjoy cars you are able to drive try different cars are all the time.

the image of sam walton with his 8 year old car isnt really representitive of those who made the money already. driving that 8 year old car is more representive of people in their accumulation stage trying to get to that point.

Last edited by mathjak107; 01-25-2012 at 03:17 AM..
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Old 01-25-2012, 02:20 AM
 
Location: Texas
42,220 posts, read 49,768,169 times
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Quote:
Originally Posted by sweetana3 View Post
And the Millionaire Next Door would tell you to get it from the library. It is not something that needs to be kept on the shelf.

+1

We get 99% of our books from the library.
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