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But if your nett worth is $1m and then you go out and buy a $1,000 doodad, you're technically not a millionaire anymore with a net worth of $999,000 :p

AU$1m = AU$1,000 x 1,000 AU$1b = AU$1,000,000 x 1,000 AU$1t = AU$1,000,000,000 x 1,000 Technically a millionaire is someone with net assets of $1m (total assets less debts, inc PPOR) but this is an easy milestone for many these days. I agree a true millionaire is someone who can stump up...