Home Forums Hunting & Shooting Hunter's Campfire Are you a Millionaire?

Was listening to Dave Ramsey the other night and he broke down what it is to be a millionaire in it's simplest terms. Subtract what you owe from what you own. So I roughly did that and........no I'm not a millionaire - yet. But closer than I thought. With the way that home values have jumped and the market on the upswing I'm within 20%. Just an average 54yr old married joe w/ 3 grown kids that has been paying the mortgage and a little extra every month, putting money in the 401(k) and the match for the last 25 years and it's starting to come around. Never really thought about it until Dave mentioned it, but it does make me feel pretty good.

Suppose the real problem is that with Biden and skyrocketing inflation a million dollars ain't what it used to be.

He still on the air? Where?

In the last year lots of people have become millionaires as their home and vehicle values have soared. The tax man knows it, too.

By 1998, we had pretty much heard everything he had to say. Both got 2-3 jobs paid the house off in 1999, haven’t had a car payment since.

And I’m at the beach for Christmas

SiriusXM, Triumph channel IIRC

Dave Ramsey Pod Casts - https://www.ramseysolutions.com/shows/the-ramsey-show

Smart guy that more should listed to.

Counting real estate, pension and savings ...... Yes.

Being a millionaire isn't what it used to be.

It's been a long time since winning 1,000,000 in the lottery (after taxes) meant you could retire, unless you were already close to retiring.

He’s not even on our WTN Supertalk anymore, his flagship in Nashville where he started.

Burned this market out here.

Yall western types need some jeebus and money talk out there.

😃

I would have been a millionaire much sooner and had twice as much money, but I made a classic mistake. When I got divorced 35 years ago, I withdrew her half of the 401K money, to pay her off. If only I had gone to a bank and borrowed her share instead of dividing the 401k. But the OP is right, having a million dollars is not rich anymore, and Biden is only going to make it worth less.

I remember as a kid pondering the question if I ever might be a millionaire and that it would be a pretty big deal. Now that I am one 50 some years later and trying to retire, it ain't near the big deal I thought it would be

a million in assets isn't really that much these days, especially if you live a high tax, high cost of living state.

Id bump to at least 2 to 3 million now. I crossed the million mark a few years ago and was not even aware probably because it really isn't a big deal now with inflation and the high cost of everything

Secret as mentioned is to start young with investing in your 20's and max out your 401k contributions, get into a house as soon as possible, manage your debt. Take advantage of big market swings, have cash available to dump in.

Aint rocket science.

Im on a fixt income

We financed our alum siding from the Tin Man

Got lucky & lived the American dream.

Bastards set the goalposts back along the way.

Figure you need at least 5 million these days to even approximate what a millionaire was when most of us started our careers

Let's just say that our daughters will be, the grandkids will be, someday their kids...

There are 7 figure millionaires... 8 figure millionaires... and 9 figure millionaires.

Please clarify.

I'll be back later... I gotta change the oil in my 1996 dodge with 425,000 miles.

Get elected to Congress and fast track it. You'll be a multi-millionaire in 4 years.

I just looked in my wallet and have $48 American peso's and some lint. I'm not sure which is worth more.