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A millionaire are you or are you not

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By *ove2pleaseseuk OP   Man
over a year ago

Hastings

What do you class as a millionaire someone living in a property over a million, someone with a million invested for there retirement or someone with a million in the bank.

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By (user no longer on site)
over a year ago


"What do you class as a millionaire someone living in a property over a million, someone with a million invested for there retirement or someone with a million in the bank."

If you have assets valuing over a million, you’re a millionaire. Including houses (if your mortgage is paid off)

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By *orleymanMan
over a year ago

Leeds


"What do you class as a millionaire someone living in a property over a million, someone with a million invested for there retirement or someone with a million in the bank."

Some one who has multiple millions of pounds in the bank.

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By *ove2pleaseseuk OP   Man
over a year ago

Hastings

As I thought we all see it diferant

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By *vbride1963TV/TS
over a year ago

E.K . Glasgow

https://m.youtube.com/watch?v=TkpU8i6noUk

Definitely different .

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By *rucks and TrailersMan
over a year ago

Ealing


"What do you class as a millionaire someone living in a property over a million, someone with a million invested for there retirement or someone with a million in the bank."
I would classify it as someone with one million pounds in the bank. Assets tied up in houses or pension funds are not readily accessible and in addition may be subject to capital gains tax.

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By *uddy laneMan
over a year ago

dudley


"What do you class as a millionaire someone living in a property over a million, someone with a million invested for there retirement or someone with a million in the bank."

Someone who has a coutts bank account.

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By (user no longer on site)
over a year ago


"What do you class as a millionaire someone living in a property over a million, someone with a million invested for there retirement or someone with a million in the bank."

An MP, probably...

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By (user no longer on site)
over a year ago


"What do you class as a millionaire someone living in a property over a million, someone with a million invested for there retirement or someone with a million in the bank.

Some one who has multiple millions of pounds in the bank."

So to be a millionaire you need to be a multimillionaire

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By *rDiscretionXXXMan
over a year ago

Gilfach

I'm surprised by this thread. I thought that we all shared the same definition, and there would be no discussion. I'm startled to find that different people have different definitions.

It's no wonder we have so much misunderstanding in this thread if we all have different ideas on what words mean.

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By *estivalMan
over a year ago

borehamwood

Someone who has a million in cash in the bank, having property worth a million is not the same as having a million to spend

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By *otMe66Man
over a year ago

Terra Firma

Interesting how a word such as millionaire has been held onto as a benchmark that was once outside the reach of nearly all, but is now in reach of so many.

What would a person today need to own to be at the equivalent wealth of a millionaire in 1960?

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By (user no longer on site)
over a year ago

I would count it as a combination of your assets and cash probably, even though you might actually be cash poor

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By *orleymanMan
over a year ago

Leeds

My reasoning for over million in the bank is that I could have a house that can go up and down in value over 1m but I cant access the funds readily and if I accessed the equity I am taking on debt to the bank and greater cost than said equity.

If I have 1million and one pound and I buy a big mac meal. Suddenly I don't have 1m in the bank.

My idea of a millionaire is some one that can functionally live the lifestyle of a rich person and it would leave at least £1m in the bank.

I've approached it from an accountant POV most likely.

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By *irldnCouple
over a year ago

Brighton


"My reasoning for over million in the bank is that I could have a house that can go up and down in value over 1m but I cant access the funds readily and if I accessed the equity I am taking on debt to the bank and greater cost than said equity.

If I have 1million and one pound and I buy a big mac meal. Suddenly I don't have 1m in the bank.

My idea of a millionaire is some one that can functionally live the lifestyle of a rich person and it would leave at least £1m in the bank.

I've approached it from an accountant POV most likely."

I’d agree with that. House price inflation has actually devalued the meaning of being “a millionaire”. There’s a few old folk living in central London properties that probably don’t feel like millionaires.

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By *ornucopiaMan
over a year ago

Bexley

I recently read that most householders have up to a million possessions.

On that basis, I am a multi millionaire!

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By *ove2pleaseseuk OP   Man
over a year ago

Hastings


"Interesting how a word such as millionaire has been held onto as a benchmark that was once outside the reach of nearly all, but is now in reach of so many.

What would a person today need to own to be at the equivalent wealth of a millionaire in 1960? "

It's strange times when you really need about £3 million if not more to be rich depending on where you live.

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By *ove2pleaseseuk OP   Man
over a year ago

Hastings


"My reasoning for over million in the bank is that I could have a house that can go up and down in value over 1m but I cant access the funds readily and if I accessed the equity I am taking on debt to the bank and greater cost than said equity.

If I have 1million and one pound and I buy a big mac meal. Suddenly I don't have 1m in the bank.

My idea of a millionaire is some one that can functionally live the lifestyle of a rich person and it would leave at least £1m in the bank.

I've approached it from an accountant POV most likely.

I’d agree with that. House price inflation has actually devalued the meaning of being “a millionaire”. There’s a few old folk living in central London properties that probably don’t feel like millionaires. "

Guess a million won't get you a lot of property in Brighton.

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By (user no longer on site)
over a year ago

Per the OED:

“A person whose assets are worth at least a million pounds (dollars, etc.); a person of great wealth.“

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By *ohnnyTwoNotesMan
over a year ago

golden fields


"What do you class as a millionaire someone living in a property over a million, someone with a million invested for there retirement or someone with a million in the bank."

Someone who has access to a million quid, is presumably a millionaire.

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By *astandFeistyCouple
over a year ago

Bournemouth


"Per the OED:

“A person whose assets are worth at least a million pounds (dollars, etc.); a person of great wealth.“"

Technically assets worth a million would be correct.

I wouldn't agree that a millionaire is a person of great wealth though.

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By (user no longer on site)
over a year ago

My real estate assets are over a million. My bank account on the other had says different in being a millionaire.

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By *irldnCouple
over a year ago

Brighton


"My reasoning for over million in the bank is that I could have a house that can go up and down in value over 1m but I cant access the funds readily and if I accessed the equity I am taking on debt to the bank and greater cost than said equity.

If I have 1million and one pound and I buy a big mac meal. Suddenly I don't have 1m in the bank.

My idea of a millionaire is some one that can functionally live the lifestyle of a rich person and it would leave at least £1m in the bank.

I've approached it from an accountant POV most likely.

I’d agree with that. House price inflation has actually devalued the meaning of being “a millionaire”. There’s a few old folk living in central London properties that probably don’t feel like millionaires.

Guess a million won't get you a lot of property in Brighton. "

It wouldn’t I’m afraid. And Hove is even more expensive. One reason they call it London-on-Sea.

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By (user no longer on site)
over a year ago

Why is this a political question..?

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By *loscouplegl3Couple
over a year ago

Gloucester

A millionaire is defined by their Net Worth.

Which includes cash, assets and investments.

Living a ‘millionaires lifestyle’ needs a shed load of liquid cash.

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By *ove2pleaseseuk OP   Man
over a year ago

Hastings


"Why is this a political question..?"

Just thought it fitted better hear then in the lounge

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By *rlandoMan
over a year ago

Lincolnshire

"fuck you money" in the Bank AKA Farage ?

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