Are you a millionaire?

[always_learning]

If you totaled up all your assets up subtracted all your liabilities/debts would you be a millionaire?

You can select multiple responses, so you can select "No" and "DontWanabee"

 

[Brenda Irwin]

Who the heck voted "none of your beeswax"?

It wasn't me, maybe they accidently clicked the bottom button. It is an anon poll after all.

 

[JAZPER]

always_learning

Were was the just off tick box?

brenda, it wasn't me.

Jazper

 

[always_learning]

If the voters follow the average, 45% of forumites are millionaires!

Was my understanding that only the top 3% of families in OZ are worth over 1M

And nobody doesn't want to be a millionaire!

Maybe a million dollars isnt what it was 20 years ago, but still it is better than a poke in the eye with a pointed stick.

 

[Kristine..]

AL

There are Lies, Damn Lies, and Statistics!

90% of Dentists responding to our survey who recommend that their patients chew gum recommend X Brand gum

Trouble is, if only 10 Dentists responded what is the profile of the responding Dentists? Are they all gum chewing mavericks?

What of the other 12,357 who didn't respond to the survey?

etc

Perhaps the forumites who are millionaires were more eager to respond to the survey than those who aren't?

Perhaps all the forumites who are millionaires have now responded?

After all, this is not a compulsory survey. Only those interested in the topic will open the thread etc

Yes, it is highly likely that per capita more people who frequent the forum are millionaires or who control assets with a net value of more than $1million.

And no, $1million isn't what is once was, but it certainly is still a commendable accomplishment for ordinary hardworking Aussies.

If one can achieve this, perhaps not all can achieve this but all can be encouraged to give it a go.

Forward Ho!

Kristine

 

[astroboy]

AL was referring to *net* worth. Not necessary property only.

Also not the "steve mcnight" or "wildly wealthy women's" promises of I'll make you a property 'millionaire' in 12 months. You know what I mean.

Sorry Brenda, I was 'none of your beeswax'

astro

 

[Kristine..]

Astroboy

Are we reading the same thread?

I said "Yes, it is highly likely that per capita more people who frequent the forum are millionaires or who control assets with a net value of more than $1million. "

AL said "If you totaled up all your assets"

No one referred to property assets or get rich quick schemes.

So I am puzzled as to your reply ??

Regards

Kristine


and yes I wish I could include or not include this signature thing when I want to but now that it is switched 'on' it automatically appears in each thread as soon as I post (sigh).

 

[Aceyducey]

I'm not surprised that the forum has a higher than average proportion of millionnaires than Australia.....after all that's one of the reason many people are here - to increase their wealth

The large number of millionnaires could intimidate some posters.....but keep in mind that it is an anonymous poll, so choosing none of your business is kind of irrelevant.....or if you're worried that the CIA are tracking you, just don't choose any options

Cheers,

Aceyducey

 

[astroboy]

Originally posted by Kristine..
Astroboy

Are we reading the same thread?

I said "Yes, it is highly likely that per capita more people who frequent the forum are millionaires or who control assets with a net value of more than $1million. "

AL said "If you totaled up all your assets"

No one referred to property assets or get rich quick schemes.

So I am puzzled as to your reply ??

Regards

Kristine


and yes I wish I could include or not include this signature thing when I want to but now that it is switched 'on' it automatically appears in each thread as soon as I post (sigh).

Kristine,
Settle down ,,,, did I refer to 'get rich quick' schemes ?
Did I refer directly to your reply... no, just because it followed your reply is no reason to assume....

Jeez you folks with some commercial interest sure get touchy.

Yeah, I know what AL said *no* need to remind me... I can normaly cope with less than ten posts 'cause I still have that many fingers.

astroboy

 

[astroboy]

Originally posted by Aceyducey
The large number of millionnaires could intimidate some posters.....but keep in mind that it is an anonymous poll, so choosing none of your business is kind of irrelevant.....or if you're worried that the CIA are tracking you, just don't choose any options

Cheers,

Aceyducey

Can't see how anyone could be intimidated, just can't see how it could possibly be accurate or how that accuracy could be validated.
What the hell would the CIA care about my net worth unless they where after contributors, of which, I'm sure I wouldn't qualify regardless of my net worth.
I chose an option that was offered on the poll. Period.
Unless the pollers can validate their 'vote' what is the point ?
astroboy

 

[Aceyducey]

Originally posted by astroboy
Can't see how anyone could be intimidated, just can't see how it could possibly be accurate or how that accuracy could be validated.
What the hell would the CIA care about my net worth unless they where after contributors, of which, I'm sure I wouldn't qualify regardless of my net worth.
I chose an option that was offered on the poll. Period.
Unless the pollers can validate their 'vote' what is the point ?
astroboy

hmmm - my comments weren't aimed at you Astroboy but were for people who might be intimidated by the % of responses stating millionnaire - which clearly you're not

Or for those who might be concerned about giving out info about themselves on a public forum.

And yes I do know people who believe that everything they say or do on the internet will be used by hostile governments against them and they can't be convinced otherwise.

I can also see some people feeling that they don't make the grade, hence my comments.

BTW: no poll on this forum can be taken as statistically accurate for the forum, let alone any wider group - we simply don't tend to get a statistically signficant number of replies

Cheers,

Aceyducey

 

[astroboy]

Originally posted by Aceyducey
hmmm - my comments weren't aimed at you Astroboy but were for people who might be intimidated by the % of responses stating millionnaire - which clearly you're not

Or for those who might beconcerned about giving out info about themselves on a public forum (yes I do know people who believe that everything they write on the internet will be used by hostile governments against them and they can't be convinced otherwise).

I can also see some people feeling that they don't make the grade, hence my comments.

BTW: no poll on this forum can be taken as accurate - we simply don't tend to get a statistically signficant number of replies

Cheers,

Aceyducey

Agreed, again.... jeez, scary......
ab

 

[Kristine..]

Dear Anonymous Astroboy

I'm glad we settled whatever your issue was.

However, as you are obviously offended by 'commercial types' (whatever and whoever they are - perhaps anybody who identifies themselves by a real name and not a nom de plume) I have removed my signature thingy so that none of my 600+ posts could be construed as free advertising or some other such 'commercial' activity.

Moving on from my limited ability to understand your most recent posts, I would like to make a point regarding the achievement of millionaire status:

It would seem to me that many people disguise and veil their ambitions and do not make or define any tangible goals with which they can achieve and measure their success.

To determine that 'I want to be a millionaire' would give many people a specific goal to aim for, even thought it may appear presumptious to even dare to dream to achieve that 'incredible' amount of wealth.

Other people may wish to achieve a certain number of properties, or a certain number of shares, or a certain trading figure in a business or perhaps an art collection valued at or even to just make enough money to retire independent of the pension.

Each of us will be motivated by something different. We can even be motivated by philanthropy - to have enough to live on and enough to give away to favourite charities or causes such as homelessness or lost dogs etc

We can also be motivated by fear - fear of being dependent on others, of being a burden, of being at risk.

So occasionally it's good to count the beans in the jar, so see how we are travelling. This is not a boastful exercise but an important one. In an anonymous poll, we are admitting only to ourselves which answer we click.

With inflation, the impact of net assets of $1million is certainly not as well-heeled as it once was, and that $1million would not last many years in its own right unless invested well.

To ask 'Who wants to be a Billionaire' would probably frighten away people with their feet just starting on the road, but after all 1 Billion is only 1,000 times 1 Million, and some Australians will certainly achieve this in their lifetime, starting from scratch.

So for those of us who are not ecentric inventors, captains of industry or software developers, a slow but steady way to that first million is still through investing in residential property.

After the accumulation of that first deposit, and with the help of steady employment, property is an asset which can be borrowed against at very reasonable rates of interest and gradually over time more properties can be added to the collection and as each one improves in value bit by bit gradually, while we are sleeping, our position improves and our 'wealth' grows.

Whether we are millionaires may or may not make us nicer people or more likely to go to Heaven.

But achieving any milestone is worthy of recognition and praise so I say to those of you who clicked yes or not yet or wanna be, keep at it, congratulations on having a defined goal, you will achieve all this and more!

Regards

Kristine

 

[astroboy]

Originally posted by Kristine..
Dear Anonymous Astroboy

I'm glad we settled whatever your issue was.

Well ok but I am still not sure "we" have settled any issue

However, as you are obviously offended by 'commercial types' (whatever and whoever they are - perhaps anybody who identifies themselves by a real name and not a nom de plume) I have removed my signature thingy so that none of my 600+ posts could be construed as free advertising or some other such 'commercial' activity.

Am I offended by "commercial types" ? You seem to assume alot. Some of those "commercial types" have been of great benefit to me.
Put your sig back, to remove it because of my comment reeks of "poor me,,, I'm backing off,,,... looking for some one to say , no bring it back" type comment.

Moving on from my limited ability to understand your most recent posts, I would like to make a point regarding the achievement of millionaire status:.

Long and not worth rebutting, those curious just refer to Kristine's previous post. Or do a search on goal setting.

Whether we are millionaires may or may not make us nicer people or more likely to go to Heaven.

Whatever..... I am sure I'll get there regardless of your assumptions. I am sure there is a scripture to that effect.

I am also little unsure as to what got you offside here, you obviously have some problem with my anonimity here, that would probably hold true for 95% of the posters here though.

And if you think being a millionaire may or may not get you to heaven (your words)..... I don't think your cheque will clear.

Sorry.

Anon astroboy

 

[np2003]

Dictionary Meaning of MILLIONAIRE. (from dictionary.com):

A person whose wealth amounts to at least a million dollars, pounds, or the equivalent in other currency.


Having a million dollars worth of DEBT/ASSET does not classify you as a millionaire.

Since this is a property forum, there seems to be a lot of people here who are ASSET rich but CASHFLOW poor. So once again, for people who vote... DO YOU HAVE A MILL IN THE BANK AS WE SPEAK? IF NOT VOTE "NO".

Thank you

 

[Simon]

I would be surprised if many folks whose net worth is over a Million keep that much money in a bank account!

Cheers,

 

[Sim]

Originally posted by np2003
DO YOU HAVE A MILL IN THE BANK AS WE SPEAK? IF NOT VOTE "NO".

Umm... what's the point of having a million dollars in the bank ? Not going to do you much good there.

A million dollars in net assets is a reasonable measure in my books.

If you want to be more pedantic, you could measure it by looking at how much money you would have left over if you sold up all your assets, then paid any taxes incurred and paid all the transaction costs - if you would still have more than a million left, then you are truely a millionaire.

The massive hit in wealth you would take by performing such a move of selling everything up is why it is often said that equity is better than cash. Equity is tax free. Cash is almost always taxed.

Which is why I'm happy with the net asset value measure as a realistic measure !

It's got absolutely nothing to do with cashflow either.

 

[see_change]

The only semi logical reason to have a million in the bank would be in preperation for deals to come, and having it parked in an offset account.

See Change

 

[Aceyducey]

Originally posted by np2003
Dictionary Meaning of MILLIONAIRE. (from dictionary.com):

A person whose wealth amounts to at least a million dollars, pounds, or the equivalent in other currency.

Having a million dollars worth of DEBT/ASSET does not classify you as a millionaire.

np2003,

What's your game? You've deliberately only supplied half of the definition from Dictionary.com to make a fallacious point.

Seems a very strange approach if you want to be taken seriously on this forum.

You're being misleading - you didn't quote the FULL definition from the site, which is:

mil·lion·aire n.
A person whose wealth amounts to at least a million dollars, pounds, or the equivalent in other currency.

Millionaire \Mil`lion*aire"\ (?; 277), n. [F. millionnaire.] One whose wealth is counted by millions of francs, dollars, or pounds; a very rich person; a person worth a million or more. [Written also millionnaire.]

http://dictionary.reference.com/search?q=millionnaire

Looking at your partial definition, not the dictionary's full definition, you are making intuitive leaps in the wrong direction

Based on YOUR definition: 'A person whose wealth amounts to at least a million dollars, pounds, or the equivalent in other currency.'

This does not preclude, in fact it includes, wealth stored in any form that can be MEASURED (ie: amounts to) in the currency in question.

For example, suppose I had AU$1 million in gold bullion under my bed unencumbered of debt.

This qualifies me as a millionnaire as the gold bullion's value is measured in currency.

Equally, if my bed is in a house valued at over $1 million dollars and unencumbered with debt I also qualify as a millionnaire.

The medium you use to store your wealth is not important, it's possessing the million or equivalent as measured by a currency.

And perceptually having a million liras isn't seen in the same light anyway

Cheers,

Aceyducey

 

[Corsa]

Originally posted by np2003


Since this is a property forum, there seems to be a lot of people here who are ASSET rich but CASHFLOW poor.

Hi NP2003

I just wanted to make a comment about this part of your post. How can you make this judgement? Let alone make this comment amidst discussions about networth and the status of individuals as millionaires.

Cashflow has nothing to do with ones status as a millionaire.

Just because a person has a million dollars in Assets less Debts does not mean that they are cashflow poor.