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View Poll Results: What type of millionaire are you (or think you'll be)?
Thrillionaire 12 6.15%
Coolionaire 3 1.54%
Realionaire 175 89.74%
Wellionaire 3 1.54%
Willionaire 2 1.03%
Voters: 195. You may not vote on this poll

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Old 12-07-2015, 10:44 AM   #61
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Very different having $25 million vs $2 million. Hard to appreciate this unless it actually happens because most people develop a strong satisfaction with their current wealth, especially once retired. To be otherwise would just make one unhappy.
And then, there's a difference between having $25M, or $250M, or $1B.

I read a book about Jim Clark, the founder of Silicon Graphics, then Netscape, and Healtheon. He pushed Netscape to go public early so he could get money to pay for his sailboat, at that time the largest sailboat in the world. His Dutch boat builder had to erect a new building to house it while it was being built.

Then, when he got this boat built, he wanted a new one 1.5 times as large. And he wanted to become a billionaire, which he did, aided largely by the dot-com bubble of 2000. Unlike Steve Jobs who really directed the development of the gadgets that are moneymakers, Jim Clark mostly leveraged off his workers (but he treated them well with stock options). But I digress.

Yes, we have to be happy with what we have got, else we would be very unsatisfied.
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Old 12-07-2015, 10:46 AM   #62
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I guess I'm "The Realionaire Next Door" to steal a phrase.

But, as long as we're ER'd and content, the label really doesn't matter.


-B
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Old 12-07-2015, 11:22 AM   #63
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And then, there's a difference between having $25M, or $250M, or $1B.


Yes, we have to be happy with what we have got, else we would be very unsatisfied.
Yes probably true. I suspect there wouldn't be very many #3's in the $250 million class. Although, in a relative sense you might be able to make the case that some are "relatively frugal and anonymous".

The problem with this whole topic is the assumption that a $1million is a threshold that suddenly defines you as very rich. Clearly not the case. But the whole point of these articles( attract readers) would be gone if they asked "what kind of a billionaire are you". Who would care? They would all say #5 though.
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Old 12-07-2015, 11:45 AM   #64
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None of the above. Living in Bay Area with a total asset barely over $2.5M, I don't qualify to answer the poll. When the term Millionaire was coined 1st, I think it was equivalent to 4 to 8 millions in today's term.
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Old 12-07-2015, 11:55 AM   #65
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When the term Millionaire was coined 1st, I think it was equivalent to 4 to 8 millions in today's term.
Good guess, but the word in its present form actually dates back nearly two centuries (first recorded use was in the 1820s). So that would make it equivalent to over 20 million today.
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Old 12-07-2015, 12:03 PM   #66
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Good guess, but the word in its present form actually dates back nearly two centuries (first recorded use was in the 1820s). So that would make it equivalent to over 20 million today.
That makes me a $100 thousandaire. I withdraw myself from this poll.
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Old 12-07-2015, 12:42 PM   #67
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I would likely be less frugal as a multimillionaire, but I'd still prefer anonymity...
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Old 12-07-2015, 03:24 PM   #68
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#3's fits pretty well.
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Old 12-07-2015, 03:57 PM   #69
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To be a Realionnaire, you don't need to be a Millionaire - to be oneself is something you can do without a million. To be a Thrillionaire or Coolionaire, you need about $10 million dollars to live in luxury and beauty. But I guess each one of us can have a little bit of those traits at some point in our lives.


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Old 12-07-2015, 04:18 PM   #70
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I don't need as much as $50M to change my lifestyle. About $10M, or perhaps even less, would allow me to move to a snobby neighborhood, or getting that 3rd home on the waterfront of the Puget Sound. I may even fly only business class. Then, I would change my screen name and come back here to vote for category 1.
Me too. I often say that I would buy or do certain things if I had 10M. A million or 2 or 3 isn't enough to make me feel like I can really indulge. Except for the luxury of not having to go to work of course.
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Old 12-07-2015, 04:25 PM   #71
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I've worked too much, making me an Ill-ionaire.
Then I drank too much and was a Swill-ionaire.
Fortunately I've managed my assets well enough to be a Still-ionaire.
Though by the time I'm gone I hope to be a Nil-ionaire.

Brilliant!
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Old 12-07-2015, 05:20 PM   #72
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Definitely Reailonaire.

Still buy day old bread since we only use it for toast. The very last think that DW want is for her family to know our financial situation.
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Old 12-07-2015, 05:39 PM   #73
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W.C. Fields also showed us what he would be like with $1M
And, like most here, he may have had his frugal side. At least he could recognize a good deal when he saw one.

"I got a dog for my wife the other day. It was an excellent trade, excellent."
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Old 12-07-2015, 06:48 PM   #74
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I'm definitely a Realionaire "stay under the radar of the trappings of wealth, seeing their affluence as an indicator of their status as a person of uncommon common sense ... For them, wealth is simply a means to be oneself, having earned that privilege through their practicality and determination to get the biggest bang for their buck."

I don't know how my fine wine drinking, Learjet flying sister is anything but a Thrillionaire-- "enjoy the things and experiences that wealth can buy ... For them, wealth is the means to privacy, exclusivity, pleasure, and highly memorable experiences." It's hard to believe we were raised in the same house.
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Old 12-07-2015, 06:57 PM   #75
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Yes, this was my point in an earlier post. The obvious answer for more mature people with a million or three is #3. However, if you have say an order of magnitude more than this it would probably be different. Maybe #1? Very different having $25 million vs $2 million. Hard to appreciate this unless it actually happens because most people develop a strong satisfaction with their current wealth, especially once retired. To be otherwise would just make one unhappy.
Seems like NW-Bound might be an exception?
I just read again this thread and saw myself being mentioned that I missed the first time.

In an earlier post, I said that I voted for #3, because of my status as a low-rung millionaire, those having between $1M and $3M as you aptly identified. Then, I said that I would need to have more before I could consider being in other categories. So, we agreed. What made me an exception?
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Old 12-07-2015, 07:43 PM   #76
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I just read again this thread and saw myself being mentioned that I missed the first time.

So, we agreed. What made me an exception?
An apparent ability to consider a higher income and visualize what you might do with it. Most retirees feel their current income is "perfect" and wouldn't know what they would spend any extra on. You seem a little more flexible. A position I agree with. Cheers
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Old 12-07-2015, 08:00 PM   #77
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Good guess, but the word in its present form actually dates back nearly two centuries (first recorded use was in the 1820s). So that would make it equivalent to over 20 million today.
Very interesting -- I never really thought about how long the term "millionaire" had been around.

On a whim, i went to google books and plotted it's usage (note sometimes OCR is wrong in older books so the graph is not "exact"). You can even browse/read through the books like "the millionaire of mincing lane" (1858), "Paston Carew, Millionaire and Miser", or "The Millionaire Tramp".

Billionaire also dates back to the 1860s too.
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Old 12-07-2015, 08:22 PM   #78
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An apparent ability to consider a higher income and visualize what you might do with it. Most retirees feel their current income is "perfect" and wouldn't know what they would spend any extra on. You seem a little more flexible. A position I agree with. Cheers
OK.

I guess my reading has opened me up to what money can buy. It's not that I stay up night dreaming about money that I will never have - I am no longer in any business, do not buy lottery tickets, nor plan to rob any bank. I do not feel deprived however, because I do not constantly covet stuff that is out of reach - OK, maybe just for the business class seat when I toss and turn in my cramped coach seat.

I think people all know what extra money can buy. Perhaps they put it out of their mind because thinking about money you do not have is futile and non-productive, particularly for a retiree who no longer has a means of producing. But myself, when I see a nice boat, a mansion, or read about people having their own jet, I cannot help making an evaluation of what net worth it would take to have something like that.

It does not make me unhappy with what I have, for a simple fact that many people wish to have what I do. And I mean many in the US, not just in third-world countries.
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Old 12-07-2015, 08:32 PM   #79
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By the way, I think knowing what lifestyle your current stash can buy is a very important part of wealth management.

We have all read about sports players, movie stars, and lottery winners who blew their stash worth tens of million dollars. They tried to live the life of centimillionaires. Of course their stash could not last.
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Old 12-08-2015, 09:07 AM   #80
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We are #3, with dashes of #4 and #5.
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