Semantics of Being a "Millionaire"

[progmtl]

This is hardly an important question, but still something I have wondered. If two people (spouses, for example) jointly accumulate a net worth of $1 million, does that make them both millionaires? Or are they each a 1/2 millionaire, in which case they would need $2 million to be considered millionaires?

I started thinking of us/myself as millionaires when we reached net worth > $1 million not including home equity. But that's pretty arbitrary.

 

[gerntz]

Then there's household millionaires that can be any number of people starting at 1.

 

[traineeinvestor]

A million dollars for a household is a great a acheivement but a millionaire is an individual who has a net worth of $1,000,0000 or more: Millionaire - Wikipedia, the free encyclopedia

Your home equity is part of your net worth.

 

[thefinancebuff]

This is hardly an important question, but still something I have wondered. If two people (spouses, for example) jointly accumulate a net worth of $1 million, does that make them both millionaires? Or are they each a 1/2 millionaire, in which case they would need $2 million to be considered millionaires?

1/2 millionaire.

 

[truenorth418]

If married, divide combined net worth in half to get the net worth of each spouse.

 

[W2R]

Wow, if some wealthy Donald Trump-ish man told me he had a billion dollars to invest I would call him a billionaire, whether he was married or not.

So, for me I guess I would call a man a millionaire if he had a million dollars to invest, whether he was married or not.

Maybe that's not strictly correct, but that is how I have always used those words.

 

[NYEXPAT]

What would you call the divorce Attorneys?

 

[ls99]

What would you call the divorce Attorneys?

For a small fee will eliminate the the problem of millionaire status. AKA a fixer.

 

[seraphim]

Since there are two of you, that would make you multi-millionaires...

Sounds better, anyway lol

 

[progmtl]

Heh, some good replies. I guess the answer is as I suspected - it depends. Is the glass full or only half-full? Either way don't let the lawyers drink from it.

Cheers!

 

[sengsational]

Since two people living together only consume about 1.6 times the resources, then I'd say dividing by 1.6 would be more accurate than dividing by 2. That's, of course, presuming there's no split/lawyers in your future.

 

[Gus.]

When we're going over our finances, I tell my wife "We're a millionaire".

 

[LOL!]

I got a letter that I was a millionaire, so I went to Nebraska.

 

[Meadbh]

I would call them a millionaire couple. The finances of people who is married or in a committed relationship are inevitably tangled. And if they were in the relationship while the funds were being accumulated. Both parties gave contributed to it, even if only one of them brought in a salary. The economic value added of a SAHM, for example, was estimated a few years ago at ~$130K per annum, IIRC.

http://www.businessinsider.com/value-of-stay-at-home-moms-2013-5

 

[Bestwifeever]

Everyone knows a couple with a million or more are just called the millionaire and his wife (Thurston Howell III and Lovey)

 

[Dash man]

Would the status be different in a community property state vs. a non-community property state?

 

[ERhoosier]

Everyone knows a couple with a million or more are just called the millionaire and his wife (Thurston Howell III and Lovey)

'cause it's funny.
'cause I'm old enough to remember the TV show.

 

[Texas Proud]

When we're going over our finances, I tell my wife "We're a millionaire".

+1 on this... since most married couples talk about themselves as one... then they are millionaires..


It's not like one talks about his half of their house and the other talks about her half.... it is their house...

 

[travelover]

I thought that I was a millionaire in 1999, but my ex-wife's lawyer assured me that I was only a 500 thousand-aire.

 

[imoldernu]

here's what I think about th
Wait... this is a mistake... I'm in the wrong thread..

 

[haha]

Worrying about what you should be called is likely diagnostic of not having enough money.

Ha

 

[walkinwood]

This is hardly an important question, .....

Quite true

 

[LoneAspen]

What would you call the divorce Attorneys?

multi-millionaires

 

[Shawn]

What's her's is her's. What's his is her's. The wife is a millionaire. The husband is flat broke.

 

[JPatrick]

I got a letter that I was a millionaire, so I went to Nebraska.

I don't believe it--Let's see your truck and air compressor...