[Stu from NYC]

Darn moved here in 2020 so not included in the study one way or the other.

Is that discrimination? Asking for a friend

[retiredguy123]

Originally Posted by Kenswing

In my opinion you can’t equate income to wealth. Not totally anyway. Especially in The Villages. Most have already made their money. The income they show now is from social security, retirement and investments. Smart people manage their income in accordance with the tax burden they’re comfortable with.

In my opinion, a guaranteed income of $100K for life is equilvalent to about $2.5 million in net worth, using a 4 percent cash flow factor ($100K/0.04).

[Gpsma]

Only 39% millionaires…i would think it would be higher. Perhaps if you factor in the older section it probably has lowered tye percentage.

[TheRealRick]

7. Can non-millionaires also live in The Villages?
Absolutely! The Villages is an inclusive community that welcomes residents from various financial backgrounds.

Obviously! 61% are non-millionaires!

[thelegges]

Originally Posted by TheRealRick

7. Can non-millionaires also live in The Villages?
Absolutely! The Villages is an inclusive community that welcomes residents from various financial backgrounds.

Obviously! 61% are non-millionaires!

Or the percentage is off, and 39% is non millionaires

[Laker14]

Originally Posted by manaboutown

My brother just took over managing his in-law's finances as the husband, who handled them, has developed dementia. He was astonished they did not have enough in their bank account to pay their latest income tax bill. Their pensions bring in $180K per year but they spend it all. He sold their motor home and second home, a 'cabin' in the mountains of Colorado for over $1M so he was able to pay their taxes and set aside some savings. He told me they had substantial credit card balances and no savings! He wants to sell their primary home up there but he must first move safes containing large coin, gold and gun collections down to Tucson where they are now living in their third (winter) home. He tells me his sister-in-law still spends wildly and has bought all new furniture for their Tucson house. He is still buying gold using credit cards. Years ago the couple lived across the street from me. He had several cars, a Bronco, a pickup truck with a camper on it and a large motorhome. They live wealthy but have never saved a dime other than in hard assets.

Years ago I read the book "The Millionaire Next Door". in it he describes people like the ones you describe. He refers to them with a saying he said comes from Texas: "Big hat, no cattle".

[Pugchief]

Originally Posted by Randall55

few would complain about rising insurance rates, the cost to put on a new roof, the increase in fire assessment, etc.etc.

LOL, you must not hang out here much. Human nature is to moan about anything and everything, and especially on TOTV.

[FFlank]

Originally Posted by retiredguy123

In my opinion, a guaranteed income of $100K for life is equilvalent to about $2.5 million in net worth, using a 4 percent cash flow factor ($100K/0.04).

I think this is true. As a retired govt worker, I get a pension. When calculating net worth, it needs to be included in the mix

[kkingston57]

Originally Posted by CoachKandSportsguy

rich to the average person is wealth > $5M for today. . next year, will need more. .

Doubt it. Today you can get 5% from a bank with no downside. 5 mil X.05 =250K a year plus SS and maybe a pension. Probably no mortgage and you are not touching your principal.

[thelegges]

Originally Posted by kkingston57

Doubt it. Today you can get 5% from a bank with no downside. 5 mil X.05 =250K a year plus SS and maybe a pension. Probably no mortgage and you are not touching your principal.

Or you have that 3% mortgage and a write off, while your money makes money.

[kkingston57]

Originally Posted by manaboutown

My brother just took over managing his in-law's finances as the husband, who handled them, has developed dementia. He was astonished they did not have enough in their bank account to pay their latest income tax bill. Their pensions bring in $180K per year but they spend it all. He sold their motor home and second home, a 'cabin' in the mountains of Colorado for over $1M so he was able to pay their taxes and set aside some savings. He told me they had substantial credit card balances and no savings! He wants to sell their primary home up there but he must first move safes containing large coin, gold and gun collections down to Tucson where they are now living in their third (winter) home. He tells me his sister-in-law still spends wildly and has bought all new furniture for their Tucson house. He is still buying gold using credit cards. Years ago the couple lived across the street from me. He had several cars, a Bronco, a pickup truck with a camper on it and a large motorhome. They live wealthy but have never saved a dime other than in hard assets.

Sounds like stories of pro athletes with at least 1 less zero. Suspect they also get SS which will get income in the 225K range. Person needs an hourly rate financial adviser.

[manaboutown]

Originally Posted by kkingston57

Sounds like stories of pro athletes with at least 1 less zero. Suspect they also get SS which will get income in the 225K range. Person needs an hourly rate financial adviser.

He is a now 90 years old retired PhD physicist and was a very bright man back in the day. I used to go deer hunting with him so I knew him pretty well. He has an incredible pension with CalPERS as he was a staff member of the University of California for most if not all of his professional life. Social Security was not deducted from his paycheck and I know that because I, too, was a staff member. He may have 40 QCs from other employment, I do not know. His wife, my brother's wife's sister, was a highly regarded public school teacher and has a pension. I do not know if she gets SS, either. I have not probed and was amazed when my brother told me all that he did.

It stunned my brother that they literally had spent every dime of income and had no cash in the bank to pay their taxes. He just could not believe it. My brother managed a state's pension fund for a few years and later on was employed by a couple hedge funds so I think he is up to the job of sorting out their finances but not for getting them to cooperate. I do not envy him this situation.

[Nevinator]

Originally Posted by CoachKandSportsguy

”my personal opinion of these types of threads is "who cares, as I certainly don't about levels and judgements with respect to other people's money"

If you don’t care, why bother responding?

As far as I’m concerned there will always be others who have done better financially in life than me, but good for them…. Hard work, skill and sometimes a little luck pays off. I don’t have any regrets about where I stand in my retirement. I worked hard, my house is paid for and I have a few dollars in the bank. I need nothing and I want for nothing. The real satisfaction for me is knowing that my four children are self sufficient and not living in my basement at age 40+. They all have great careers or run their own businesses.

[spinner1001]

Who paid Phoenix Marketing International for the study?

And I would like to read the full survey report but cannot find it online. Can anyone send me a link?

Originally Posted by Toymeister

How Many Millionaires Live in the Villages Florida
INVESTOR TIMES by INVESTOR TIMES Reading Time: 2 mins read

How Many Millionaires Live in The Villages, Florida?

The Villages, located in central Florida, is a popular retirement community known for its active lifestyle and numerous amenities. With its beautiful weather, golf courses, and recreational facilities, it has become a sought-after destination for retirees. Alongside the active lifestyle, an intriguing question arises: how many millionaires live in The Villages?

While it is challenging to determine an exact number, The Villages is home to a significant number of millionaires. According to a study conducted by Phoenix Marketing International, The Villages had the highest concentration of millionaires per capita in the United States in 2019. The study found that approximately 39% of households in The Villages had a net worth of at least one million dollars, excluding their primary residence.


The Villages’ appeal to millionaires can be attributed to several factors. Firstly, the cost of living in Florida is relatively low compared to other states with high concentrations of wealthy individuals, such as New York or California. This, combined with the absence of state income tax, makes Florida an attractive destination for retirees looking to stretch their retirement funds opportunities.

1. Are there any specific neighborhoods in The Villages where millionaires live?
While it is challenging to pinpoint specific neighborhoods, millionaires can be found throughout The Villages.

2. What are some common professions of the millionaires in The Villages?
The Villages is home to a diverse group of millionaires, including former business owners, executives, doctors, and lawyers.

3. How do millionaires in The Villages spend their time?
Millionaires in The Villages often engage in recreational activities such as golfing, boating, and participating in social clubs and events.

4. Do millionaires in The Villages typically downsize their homes?
Many millionaires in The Villages choose to downsize their homes, opting for smaller, low-maintenance properties that align with their desired lifestyle.

5. Are there any exclusive clubs or organizations for millionaires in The Villages?
While there are no exclusive clubs solely for millionaires, there are various clubs and organizations that cater to different interests and hobbies.

6. Are there any philanthropic efforts by millionaires in The Villages?
Yes, many millionaires in The Villages are actively involved in philanthropic endeavors, supporting local charities and causes.

7. Can non-millionaires also live in The Villages?
Absolutely! The Villages is an inclusive community that welcomes residents from various financial backgrounds.

8. Are there any financial planning services available for residents in The Villages?
Yes, residents have access to financial planning services within The Villages to help manage their wealth and retirement funds.

9. How does the presence of millionaires impact the local economy?
The presence of millionaires in The Villages contributes to the local economy by stimulating businesses and creating job opportunities

10. Are there any tax advantages for millionaires living in The Villages?
Florida’s lack of state income tax is an advantage for millionaires living in The Villages, allowing them to keep more of their wealth.

11. Are there any disadvantages to living in The Villages as a millionaire?
Disadvantages can vary depending on individual preferences, but some may find the community’s focus on retirement activities limiting if they desire a more urban lifestyle.

12. Can I visit The Villages as a non-resident to experience the community?
Yes, The Villages welcomes visitors who can explore the community’s amenities, participate in activities, and get a feel for the lifestyle it offers.

In conclusion, The Villages, Florida, is home to a significant number of millionaires, with a high concentration per capita. The community’s low cost of living, exclusive amenities, and social opportunities contribute to its appeal among the affluent. Whether you are a millionaire or not, The Villages offers a unique retirement experience for individuals from various backgrounds.

[Stu from NYC]

Originally Posted by Nevinator

If you don’t care, why bother responding?

As far as I’m concerned there will always be others who have done better financially in life than me, but good for them…. Hard work, skill and sometimes a little luck pays off. I don’t have any regrets about where I stand in my retirement. I worked hard, my house is paid for and I have a few dollars in the bank. I need nothing and I want for nothing. The real satisfaction for me is knowing that my four children are self sufficient and not living in my basement at age 40+. They all have great careers or run their own businesses.

Very true. We are very proud our kids got out of college with money in the bank and have good jobs and are self supporting.

We do put money into our grandkids college funds to help them finish school with no loans