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Okay, things are all better.
Old 03-09-2010, 12:04 PM   #1
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Okay, things are all better.

U.S. millionaire ranks up 16 percent last year

Well, maybe not for all of us:

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The current total is still well below the record 9.2 million millionaire households reported in 2007,
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Old 03-09-2010, 12:13 PM   #2
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A memory cell fired and I just couldn't resist posting this...(turn your speakers down a bit)

IMDb Video: How To Marry A Millionaire
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Old 03-10-2010, 08:52 AM   #3
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U.S. Dollar down though

A million ain't what it used to be
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Old 03-10-2010, 09:04 AM   #4
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Well, the fact that I'm almost 3/4 of the way there using the net worth definition tells you how "watered down" being a millionaire is these days...
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Old 03-10-2010, 02:29 PM   #5
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I am surprised that there are so few households with a net worth of a million or more. I think most are board members.
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Old 03-10-2010, 02:46 PM   #6
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I am surprised that there are so few households with a net worth of a million or more. I think most are board members.
Only 2.5% of the US population.

And yet in a prior thread, most folks here didn't think that having more money than 97.5% of the US population made you "Rich".
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Old 03-10-2010, 02:49 PM   #7
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And yet in a prior thread, most folks here didn't think that having more money than 97.5% of the US population made you "Rich".
It doesn't - but being retired and having more free time than 97.5% of the US population sure does!
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Old 03-10-2010, 02:50 PM   #8
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U.S. Dollar down though

A million ain't what it used to be

Boy, you must really liven up a party.

(BTW, the US Dollar Index is about flat with where it was at the beginning of 2009 and up about 6% from 2008. So cheer up.)
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Old 03-10-2010, 03:16 PM   #9
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Boy, you must really liven up a party.

(BTW, the US Dollar Index is about flat with where it was at the beginning of 2009 and up about 6% from 2008. So cheer up.)

Actually, I hear he does this great trick with some tinfoil, a dollar bill and a glass of vodka...
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Old 03-10-2010, 03:24 PM   #10
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A graph from the group that created the report


Affluent Market Insights 2009
I guess NIPR is Not Including Primary Residence.
Unfortunately, the report is not free.
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Old 03-10-2010, 03:34 PM   #11
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Only 2.5% of the US population.

And yet in a prior thread, most folks here didn't think that having more money than 97.5% of the US population made you "Rich".
Not quite but I get your point. 7.8 million households have net worth over $1M. I've seen an estimate of 112 million households in the USA so that would be 6.8% of households with nw > $1M
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Old 03-10-2010, 03:44 PM   #12
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Not quite but I get your point. 7.8 million households have net worth over $1M. I've seen an estimate of 112 million households in the USA so that would be 6.8% of households with nw > $1M
Right. And the number of actual individual millionaires is even less. Your spouse's lawyer can explain this.
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Old 03-10-2010, 04:01 PM   #13
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A million dollars is still a lot of money. I have never met anyone that I know of that has amassed a savings of a million dollars. I will very likely retire(quit) before ever reaching that milestone. There are more people who never reach $100,000 than there are who top $1,000,000.
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Old 03-10-2010, 04:28 PM   #14
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Right. And the number of actual individual millionaires is even less. Your spouse's lawyer can explain this.
I actually laughed so hard I was choking

Thanks!
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Old 03-10-2010, 04:33 PM   #15
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Not quite but I get your point. 7.8 million households have net worth over $1M. I've seen an estimate of 112 million households in the USA so that would be 6.8% of households with nw > $1M
Yup.

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Right. And the number of actual individual millionaires is even less. Your spouse's lawyer can explain this.
And Yup.
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Old 03-10-2010, 05:30 PM   #16
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This report did surprise me a bit. 2.5% of the population strikes me as pretty low, but maybe that's because I live in New York, where everyone is pretending to be a millionaire.

I recently became a millionaire (in fact, by the strict technical definition, I am a multi-millionaire) but can't say it makes me feel any different. In fact, I actually think I'm less happy than I used to be because my mind is obsessing about wealth preservation. I'm also not working right now, wihch probably makes me even more obsessive.

Does anyone else find that having more money in the bank actually adds stress to your life? Is this an obnoxious question?
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Old 03-10-2010, 07:35 PM   #17
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A graph from the group that created the report


Affluent Market Insights 2009
I guess NIPR is Not Including Primary Residence.
Unfortunately, the report is not free.
Upon hearing the news on the radio, my 1st impression was that these guys knew how to time the market downturn (and I didn't). The graph tells a different story.

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Old 03-10-2010, 11:07 PM   #18
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Does anyone else find that having more money in the bank actually adds stress to your life?
Nope.

May be I don't have enough money in the bank to get stressed about it - so just as well I ER'ed in time, as I don't like stress
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Old 03-11-2010, 01:47 AM   #19
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Does anyone else find that having more money in the bank actually adds stress to your life? Is this an obnoxious question?
Can't recall the source but reminds me of a famous quote - to the effect: I never been in no situation where havin' more money made it any worse.

But, seriously, I think I know what you mean. I've come to believe that money and possessions own US rather than the other way around. I too worry more about keeping what I have than I ever did about getting it in the first place. I'm sure a psychologist would have a field day with that kind of thinking, but it's the unfortunate truth. Still, I wouldn't cut my savings in half to lessen the effect - so go figure!!
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Old 03-11-2010, 06:27 AM   #20
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Right. And the number of actual individual millionaires is even less. Your spouse's lawyer can explain this.
I read this twice and then LOL!
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