Poll:What type of millionaire are you?

[pb4uski]

Jimenez, what a uniform bunch we are here. No wonder we all like this board so much... we are all talking to our mirror images!

Yeah... not only that... we all think alike on issues like whether to pay off the mortgage or not, when to take SS, etc.

 

[braumeister]

If I Had A Million Dollars

 

[MichaelB]

W.C. Fields also showed us what he would be like with $1M

 

[HFWR]

Thousandaire...

 

[NW-Bound]

Thousandaire...

which many of us here may become if the market keeps behaving like it has been recently.

 

[Car-Guy]

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.

50 million more... Hum, let's see... You know what they do with a prize race horse when "he" is retired.... He's put out to pasture, so to speak....

For me, 50 million more and my retirement pasture would be Las Vegas.

 

[jkern]

Jimenez, what a uniform bunch we are here. No wonder we all like this board so much... we are all talking to our mirror images!

+1

This is a place where there are a whole bunch of people just like me.

 

[Danmar]

The real question is how many millions you have.......a person with fifty million will always have a different answer than one that just achieved their 1st million.......the real question is if you're a millionaire, how many million do you have?

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?

 

[Danmar]

For me, 50 million more and my retirement pasture would be Las Vegas.

I doubt you would have $50 million for very long.

 

[Car-Guy]

I doubt you would have $50 million for very long.

Maybe, but it wouldn't be from gambling losses.

 

[NW-Bound]

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.

 

[Beldar]

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

 

[Danmar]

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.

 

[robnplunder]

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.

 

[braumeister]

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.

 

[robnplunder]

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.

 

[HFWR]

I would likely be less frugal as a multimillionaire, but I'd still prefer anonymity...

 

[fritz]

#3's fits pretty well.

 

[cyber888]

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.

 

[pullmyfinger]

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.

 

[Meadbh]

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!

 

[brett]

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.

 

[UpAnchor]

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."

 

[Bamaman]

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.

 

[NW-Bound]

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?