About the Millionaire Fools category

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We often ask how many millionaires are there on Motley Fool. You might be surprised.

Do millionaires have unique problems, concerns, “opinions”? Check it out. See what you think!!!

Being a Millionaire ain’t what it used to be… or I wouldn’t be here! We are sadly lacking for a term between Million and Billion that is simple and conveys meaning. Such is life.

How is millionaire defined?

Is it having a net worth over 1 million?

Or, having an annual income over 1 million?

Rich

Take your pick. There are no rules. Its a public board.

1 Like

Hi RetiredRich62,

As mentioned, the question has many answers.

Another popular version is “liquid assets” normally applied to investors. This is probably the “cleanest” way to assess wealth.

Net worth can be tainted by marriage. Owning a house, joint brokerage, etc create problems when assessing a “person’s” net worth since ownership of some pieces are shared.

Illiquid assets such as art collections, coin collections, real estate, etc are problematic assigning a true value to. They are often very thinly traded items. Only guess-timates can be made and they can be quite far off.

Another stumbling block is partnerships and assigning a value to a partner. Depending on the business, there can be wide differences in the actual vs perceived value.

Does that help you?

Gene
All holdings and some statistics on my Fool profile page
https://community.fool.com/u/gdett2/activity (Click Expand)

2 Likes

Hi Paul and Gene,

Thanks. I think I qualify since I get to define the term. :slight_smile:

It’s good to see some familiar faces again. Long story, but I’m back in the saddle again (formerly TMFRichDad). Never followed this board in the old days but now that I’ve found it . . .

Rich

4 Likes