[manaboutown]

As I see it most of the millionaires in TV are "Millionaire Next Door" types rather than ultra wealthy owning mansions, yachts and jet aircraft (except for the Morse family of course). The Millionaire Next Door - Wikipedia

[Nucky]

The lifestyle of Fast Women & Slow Horses many be fun for a while but in the end, you will go out broke, maybe an uncomfortable retirement. Being Conservative is Where Its At.

I think the Concentration of Millionaires in The Villages would be a Major Suprise. I have my thoughts but since I have no real proof what's the use?

[Velvet]

Nucky, you are right in my opinion too. You see, how much easier on their conscience it is to claim there are so many millionaires in TV so it’s ok to raise the taxes? Even called for, perhaps.

[Chi-Town]

$1.7M net worth seems to be the magic number to retire comfortably. So you have to be a millionaire to start out with.

How Much Money Will You Need to Retire? Survey Says: $1.7 Million -- The Motley Fool

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[billethkid]

Of the 130,000 residents here in TV how many retired with more than One million in savings?

My bet? Less than 10%.....much less than 10%!!!

A pretty fair sized community retired/living comfortably....non millionaires!!!

[Chatbrat]

Get a NYC civil service job, you used to retire based on one high year--the young man who took over my job when I quit in 83', his pension was $165K, + local 3 IBEW annuity and pension, + Social Security,

To, quote the developer, you don't have to be a millionaire to live like one--just have a good retirement pension with union side benefits

[TimeForChange]

IRA's rolled from 401K's. This does not surprise me. In the golf group I have played with for seven years I kind of know most of the guy's backgrounds. Over 60% are worth over a million if you include their investments from IRA's.

[eweissenbach]

As has been pointed out my many, a million dollars is not generational wealth in this day and time. In fact, if a person had a million dollars in liquid assets, and had no pension and minimal social security, they might struggle to get by long term in TV. I doubt that many truly wealthy people live in The Villages, as they can afford the Villages lifestyle anywhere and may prefer to live on the Ocean or Gulf, or in a cosmopolitan city. Most millionaires I know inherited much if not all of their wealth. The others I know are much like my children, who took a risk by going into big time debt fifteen years ago and built their business into the most successful of its kind in the area. I am certain there are many "millionaires" in TV by a minimal definition of that term, but no more than a very few really "wealthy". Whatever, I find it a great place to be on the meager amount I have been able to accumulate.

[manaboutown]

Dr. Stanley in doing his research for "The Millionaire Next Door" discovered fewer than 20% of millionaires inherited their wealth as over 80% of them made it on their own. See page 3 in the Introduction.

[Velvet]

The big draw of TV is it is affordable, and safe. Unlike some places outside the bubble.

[TheWarriors]

Actually most millionaires don’t live extravagantly, you probably know several but they would never let you know of their financial status. TV would likely attract them as an affordable, safe, conservative and low key community.

[rustyp]

Originally Posted by eweissenbach

As has been pointed out my many, a million dollars is not generational wealth in this day and time. In fact, if a person had a million dollars in liquid assets, and had no pension and minimal social security, they might struggle to get by long term in TV. I doubt that many truly wealthy people live in The Villages, as they can afford the Villages lifestyle anywhere and may prefer to live on the Ocean or Gulf, or in a cosmopolitan city. Most millionaires I know inherited much if not all of their wealth. The others I know are much like my children, who took a risk by going into big time debt fifteen years ago and built their business into the most successful of its kind in the area. I am certain there are many "millionaires" in TV by a minimal definition of that term, but no more than a very few really "wealthy". Whatever, I find it a great place to be on the meager amount I have been able to accumulate.

Part of the success of this strategy is no payments - no mortgage, no car payment, no credit card balance etc. A million dollars making 3 % /yr is 30K. Add social security of say 20K and that equals 50K without touching any principal.That million will probably outlast your golf game.

[Velvet]

Originally Posted by TheWarriors

Actually most millionaires don’t live extravagantly, you probably know several but they would never let you know of their financial status. TV would likely attract them as an affordable, safe, conservative and low key community.

OK.

[graciegirl]

Originally Posted by TheWarriors

Actually most millionaires don’t live extravagantly, you probably know several but they would never let you know of their financial status. TV would likely attract them as an affordable, safe, conservative and low key community.

Well said.

[manaboutown]

Originally Posted by TheWarriors

Actually most millionaires don’t live extravagantly, you probably know several but they would never let you know of their financial status. TV would likely attract them as an affordable, safe, conservative and low key community.

Self made millionaires know the value of a dollar. Most of them became financially successful by working hard, investing wisely and living below their means.