To be a millionaire in the United States is to still be poor

ausbit

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Quote from: Gozie51 on October 13, 2017, 07:16:49 AM

Quote from: pedrog on September 20, 2017, 01:22:54 PM

I could retire with a million dollars, well at least don't work for others ever again in my life, unless very well paid.

And the USA doesn't even have a city in the top 10 most expensive cities in the world...

http://uk.businessinsider.com/the-19-most-expensive-cities-in-the-world-2016-6/

I really was thinking that 1million dollars can make a citizen there live a very very comfortable life. I'm finding it difficult to understand how such money won't give the citizen a good life.

It then means, bitcoin is really also helping Americans, was thinking they don't have much need for it. One million dollars is very huge to own so many life investments and more plus happiness to lay your hands on anything you want. Some guys / aliens in US would be very happy to fly back with one million box because they would be assured they are mega rich.

Yes this thing is right being millionaire doesn’t matter because there is another currency that is fading away the importance of the cash and millionaire in bitcoin is bit different as compare to the cash owner because now everyone is switching into the bitcoin and the millionaires are also thinking to convert their paper money into the bitcoin to join the lane of profiteers of future.

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Quote from: KonstantinosM on September 20, 2017, 11:15:53 AM

Just look at what a million dollars can get you. A 76 square meter apartment at the capital.

I'm sorry but that doesn't sound like being rich to me. That sounds like massive inflation has happened and we just haven't adjusted yet.

I have more faith in my worthless crypto-tokens over their worthless monopoly money they can print for themselves and their friends.

Fractional reserve masturbation economics don't reach me anymore.

"Rich" and "poor" are relative terms. They are relative comparisons to everyone else in an economy. Therefore, looking at what you can buy for a million dollars is meaningless to whether someone is rich or poor; you have to compare it to what others are able to buy to have any concept of whether someone is rich or poor, and it just so happens that having a million dollars puts you substantially ahead of the vast majority of people in America. Just because it doesn't fit some undefined expectation of yours doesn't make it not "rich."

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Quote from: pedrog on September 20, 2017, 01:22:54 PM

I could retire with a million dollars, well at least don't work for others ever again in my life, unless very well paid.

And the USA doesn't even have a city in the top 10 most expensive cities in the world...

http://uk.businessinsider.com/the-19-most-expensive-cities-in-the-world-2016-6/

I really was thinking that 1million dollars can make a citizen there live a very very comfortable life. I'm finding it difficult to understand how such money won't give the citizen a good life.

It then means, bitcoin is really also helping Americans, was thinking they don't have much need for it. One million dollars is very huge to own so many life investments and more plus happiness to lay your hands on anything you want. Some guys / aliens in US would be very happy to fly back with one million box because they would be assured they are mega rich.

ugr_erkn92

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That's true, you can live like a king for $ 1 million in many countries of the world. But in the US you can not buy too much with your $ 1 million. Nevertheless, being a millionaire in addition to the lives of a large number of poor people living in streets in the US can be considered a luxury.

Manadhnis

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I agree with you because everything healthy is so expensive and i work for pizza hut they do not pay me a lot that is why i tried bitcoin to earn what i actually need to survive for because the rich people here always can get this.

Bellator

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Quote from: Superways on September 24, 2017, 07:55:19 PM

Quote from: baedrill on September 22, 2017, 10:42:21 AM

What? One million dollars is a lot of money. Most people won't see that amount in their lifetimes. It's a lot, but not enough for one to be considered ultra rich. You would still have to live within your means. Spend it on a different state or a different country.

Lol! Indeed this is more than enough money if used wisely but what I think is that the definition of richness is different for every individual almost. Some people no matter how much money they have in their banks, they behave and act like poor people. Their greed is never satisfied.

Wealth is determine on how much asset that you have, buying what you want and needs and capable to buy of everything and have big assets in the bank or in the electronic market is consider rich. in other hand a united state is a costly country if we compare our money to their currency 'the dollar. if you are living in the united states and not yet as rich then i think its better not to spend to much in everything so try investing and live like a poor until your profits is multiplying and maybe thats the time to live as rich and a wealthy one.

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It is up to individual on how much money they need to be determine rich, some people are happy and contented with just a few 100k USD dollars on their hand, if the person does not splurge on his wealth on luxury items and big houses, I think owning a million dollars in the united states is still consider relatively rich.

Cobalt9317

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living below your means are nice strategy to live a decent life, I deem it is not about how you spend money or use it, it is all about necessity what is important is always a priority nevertheless a million worth of $ can make you rich in my country that is highly possible.

P.S a wealthy person is determine by how much money oneself saves for a day.
Robert Frost

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Quote from: cpfreeplz on September 22, 2017, 10:53:16 PM

Quote from: KonstantinosM on September 20, 2017, 11:15:53 AM

Just look at what a million dollars can get you. A 76 square meter apartment at the capital.

I'm sorry but that doesn't sound like being rich to me. That sounds like massive inflation has happened and we just haven't adjusted yet.

I have more faith in my worthless crypto-tokens over their worthless monopoly money they can print for themselves and their friends.

Fractional reserve masturbation economics don't reach me anymore.

Living in a big city is really abnormally expensive so that's kind of a weird analogy. Where I'm from, $1million US will get you 100 acres and an 8000 square foot mansion. Yeah we get it, inflation is ridiculous, but it's going to seem so ridiculous when you look at expensive cities.

It is all about the living slandered of someone. For some people in the United States millions will be a very huge amount while for others how have a very slandered of life millions are nothing. So it is not the value and inflation of currency it is all about the use.

For instance if I am a millionaire and I spend thousand everyday then millions are nothing but if I use as much as the necessities then millions are a lot of money.

Reid

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Whoa! That was hardcore.
Then what about the mortgage after. Grin

And about that fiat money which just keeps on getting more when they feel they are short on it.
It is just bad for the economy and we will be polluted when the crypto takes over and we have a lot to burn.

Byates

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Just move out of the states then?
Asia prehaps?
Its true being a millionaire prob doesnt mean as much as it did before but I would kill for a million right now

Hydrogen

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While it is true that $1 million isn't a lot of money in most economies, it can still go a long way if it were used in a frugal sense.

I think a person might conceivably retire off of $10 million to $20 million. If they could find a savings account that would pay them 3% to 5% interest per year on their $10-$20 mil that could be enough for a lot of people to retire off of.

Many millionaires say they don't feel rich. To qualify as wealthy a person might need to be a billionaire minimum.

Of course the amount of wealth someone has, isn't necessarily as crucial as how they utilize it. I like Elon Musk's school of thought as he focuses his wealth towards missions to mars & scientific endeavors.

n691309

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Quote from: Sled on September 22, 2017, 09:55:52 PM

Quote from: geyayy on September 22, 2017, 07:44:37 PM

If I am going to have a million dollar on my country? I will be really rich, I can buy a house and lot and also a car, and things that I want to. USA has a high cost of living, their goods is to expensive. Unlike here in my country, compared to USA, it is still cheaper here.

It is better that we are in a poor country that doesn't like the country of USA because in USA it is not worth it to have a million dollar there because of the high or expensive things that cannot be enjoy with just a million dollar. If you want to be rich in USA you need a lot of million dollars first but in other countries 1 million dollar is enough to have a luxurious life.

Yes you are right; apart from US other countries like most of the African countries people will be still poor if they have even millions in their local currency, not the dollars. In my country one dollar is equal to 105. Now you can imagine if I have millions of dollars even thousands of dollars I will be a rich person in my community. Therefore I think that having million as the US citizens would never be poor.

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Quote from: lanyounanhai on September 20, 2017, 02:28:28 PM

I do not care about that very much. If I have about 1 million dollar, I will be extremely rich in my country and I will not worry about anything. USA is a high standard country, that is why the price of almost everything is higher than other countries. I live in a third world country, so I believe that 1 million dollar is enough for me to retire my job and live a happy life till the day I die

I totally agree with you there! I mean who cares about USA? There is a lot of country out there who is more beautiful and peaceful to live in. And for my 1 million dollars, I can say im rich now with it and it could grow more through investing in a business or what. Lets not focus on USA, improve your own country because that is were your happiness will be

micleeiu398

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Quote from: batang_bitcoin on September 21, 2017, 03:49:12 AM

Cost of living in US is very high but think about those countries that are declared as the best high cost living places. A million can even be spent there easily or it can't even get a year or two. Why not try to migrate in other countries you are familiar with and have a new start with that amount?

Quote from: pedrog on September 20, 2017, 01:22:54 PM

I could retire with a million dollars, well at least don't work for others ever again in my life, unless very well paid.

The same here in my country, I can definitely retire and start my own business or just enjoy my life to the fullest with that amount as I don't need to rent anymore here.

I don’t think that works actually. What you are saying is applicable to every country. Every country have high prices and inflation rates are much higher that you could find only a very small portion of millionaires. I think if you are free to move, buy, sell, eat enough, and enjoy you are millionaire.

bitcoinrays

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Quote from: anamie on September 21, 2017, 09:25:41 PM

Yeah you still poor in the united states even you have 1million dollars, because US is a high standard of living and the foods and things are so expensive, but here in my country 1 million dollars is enough to quit your job and enjoy your life.

Depends upon the level of development in your country. If you are third world country then yes one million dollars are much more than enough to live your life at ease. But in US that may not help you much as the things are in level with economy.

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Quote from: matuson on September 25, 2017, 04:42:35 AM

Quote from: bitjoin on September 25, 2017, 04:10:57 AM

Its true a million dollars isn't enough to be rich anymore. Where i am in the UK you will spend half that on a reasonable house alone. Its not enough to quit working or live a fancy lifestyle. You can however live frugal and make that money support you over a lifetime if there are no wars or giant economic collapses.

Economic failures haunt us regularly. It is not possible to avoid. Look at the price of bitcoin. It is a reflection of the hyperinflation of the dollar. Before the emergence of the phenomenon of crypto currency alternative to the dollar and gold was not. Now a new era began.

If you want to rich. Bitcoin is the place ,for that.If you want to earn some bitcoin means, you need to participate in Signature Campaign. In that you will get some bitcoin as a payment.If you do trade means, you will get some additional bitcoin. Even you can save that payment bitcoin and sell only if the price reaches maximum.

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Quote from: bitjoin on September 25, 2017, 04:10:57 AM

Its true a million dollars isn't enough to be rich anymore. Where i am in the UK you will spend half that on a reasonable house alone. Its not enough to quit working or live a fancy lifestyle. You can however live frugal and make that money support you over a lifetime if there are no wars or giant economic collapses.

Economic failures haunt us regularly. It is not possible to avoid. Look at the price of bitcoin. It is a reflection of the hyperinflation of the dollar. Before the emergence of the phenomenon of crypto currency alternative to the dollar and gold was not. Now a new era began.

BrandonFever

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Actually it depends of where you are in the united states i think in new York and Los Angeles and stuff you will still be poor but if you take the poor ones like Texas or Michigan i think you will not be poor there.

bitjoin

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Its true a million dollars isn't enough to be rich anymore. Where i am in the UK you will spend half that on a reasonable house alone. Its not enough to quit working or live a fancy lifestyle. You can however live frugal and make that money support you over a lifetime if there are no wars or giant economic collapses.

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