Quote:
Originally Posted by retiredguy123
You can calculate it anyway you want. But, a person with $900k in the bank, a $500k paid for house, and an $80k pension is certainly richer than a person with $1 million in the bank who does not own a house or have a pension. But, by the definition often used, the richer person is not a millionaire.
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The different ways of figuring out your worth is meaningless, you have what you have and no one else should really care. Based on this if you have 2.5 million sitting around in various cash accounts you are a pretty comfortable millionaire but then you buy a 2 million dollar home paying cash for it you are no longer a millionaire. I don't think so.