What age to be a millionaire?

[rjthehunter]

Surely we have a few crypto-zillionaires?

From a DM I just recieved.

"I can’t believe how many of my friends have made wife changing money in crypto"

Depends on their standards... some wives would jump ship for a 10k!

 

[fulldraw]

As we all know a million isn’t anywhere near what it was just a few years ago. And let’s not forget money don’t mean chit if you don’t have your health.

 

[grizzly_]

Liquidate all your stocks and bonds.... and then dump it into bitcoin. Sell in late 2025. Thank me later

@ignorethefringes @grizzly_

I've been in ETH for years now and got some BTC after they approved ETFs (but didn't get enough in hindsight ).

BTC has outperformed the last year, but I think ETHs boom is still coming. It typically trails the halving. I'm looking forward to a good 2025 too

 

[Irrelevant]

It's f'd when you can make 25% year over year and feel you're losing ground

 

[ismith]

I feel like a million dollars.......... sometimes.

 

[michigan_sasquatch]

As we all know a million isn’t anywhere near what it was just a few years ago. And let’s not forget money don’t mean chit if you don’t have your health.

Reminds me of a good quote I read in a book...

The three big ones in life are wealth, health, and happiness. We pursue them in that order but their importance is reverse.

 

[Ballistic]

Statistically, most people can't do simple math.

In 40 years your million will likely turn into $200,000 or the equivalent. When I was a kid a million made you rich, today it doesn't.

This is exactly why generating wealth is so important and you can never stop.

 

[Pagosa]

Do most people not consider their home and other real estate as assets? Seems like most people just consider their retirement accounts, stocks, and such. We definitely plan to downsize to a smaller 1000 sq/ft home when our kids are grown.

 

[Southern Elk]

Do most people not consider their home and other real estate as assets? Seems like most people just consider their retirement accounts, stocks, and such. We definitely plan to downsize to a smaller 1000 sq/ft home when our kids are grown.

Yes, definitely.

 

[Pagosa]

So you don't consider it as an asset?

 

[mevertsen]

Do most people not consider their home and other real estate as assets? Seems like most people just consider their retirement accounts, stocks, and such. We definitely plan to downsize to a smaller 1000 sq/ft home when our kids are grown.

I consider my home an asset, but it has no bearing on my bank account as far how I'm going to pay my bills.

My wife, last child and I live in a small (1150 sq ft) house, and we plant to be here "forever."

The House can't pay my power bill, and I can't scrape hundred dollars bills off of it to make car repairs. But I have to use money to pay taxes on it, and do periodic upkeep. Its a place to keep me warm and secure from the elements. Nothing more.

 

[brymoore]

So you don't consider it as an asset?

I do. At times, it’s been my best investment.

 

[Pagosa]

I do. At times, it’s been my best investment.

That is my thought too.. I can build a pretty nice ICF house for $225-$300 per/ft (not including land) and move just about anywhere.

I would also rather own a house, have no debts, loans, etc and just live a simple live, than a million or two. Money seems to create a lot of divorces, f-up family, issues.

 

[Letthemgrow]

and I can't scrape hundred dollars bills off of it to make car repairs

Isn't that exactly what a HELOC allows you to do?

 

[mevertsen]

Isn't that exactly what a HELOC allows you to do?

Then it's no longer an asset but a liability.

Robbing Peter to pay Paul doesn't do anything to improve my financial situation.