Are you a millionaire?

[Robyne]

Do you include your super?

 

[JAZPER]

I didn't even think of super when the pole was on, but it is an asset it's just held (and the governments trying to get thier hands on more of it).

Jazper

 

[Aceyducey]

I wouldn't (and didn't) include superannuation.

As far as I'm concerned super is not there for retirement, but to hone my investment skills

Cheers,

Aceyducey

 

[Corsa]

I would consider Super an Asset and considerable as part of a new worth calculation.

 

[MJK]

Only if youre +55yrs or is it 60yrs.

MJK

 

[Garry K]

Originally posted by Robyne
Do you include your super?

If you're talking about longer term assets, why not?

Many people have their IP's and share portfolios in their Self managed Super fund, and for many wage earners, it is often their biggest asset ex their home.

But if you are saying, well what can I cash in and spend now or what can provide me income now, well, maybe not

*************


Only if youre +55yrs or is it 60yrs.

MJK

It depends on when you where born.
If you where born before I July 1960 you can access your super at age 55 provided you are permantly retired.
Born after 1960, access graduates to age 60 when born after 1 July 1964.
At age 60 you can access your super when you cease an employment arrangement etc
Or you just wait until age 65 and no questions asked.



GarryK

 

[np2003]

Wow! there are a lot of millionaires on this forum.

 

[Aceyducey]

Originally posted by np2003
Wow! there are a lot of millionaires on this forum.

Yes there are - the best thing though is that if you are prepared to listen you can learn a lot from them.

Cheers,

Aceyducey

 

[evguenii]

it would be interesting to see the breakdown of wealth of those who are millionaires, i.e. what percent of your wealth is your PPOR, investment properties, shares, cash?

 

[Sim]

Originally posted by evguenii
it would be interesting to see the breakdown of wealth of those who are millionaires, i.e. what percent of your wealth is your PPOR, investment properties, shares, cash?

Yes it would be interesting.

However, I'd guess that for most of the "new" millionaires (those who have recently got to that level) would have a PPOR plus possibly a couple of IPs with enough equity between them to make it a million of net worth - it's relatively easy to do, especially given the gains most people have seen in their properties over the last couple of years.

 

[twodogs]

Yippie ! Just got a couple of valuations back and that takes my nett past the 1 million mark.

Now, back to reality....work, land tax, interest, feral tenants...

 

[Aceyducey]

Well done Maniyak!

Perhaps now we need a new book to debunk the idea that millionnaires don't work as hard as other people - in my experience they generally work harder and smarter (but enjoy themselves more).

Cheers,

Aceyducey

 

[itinerantotter]

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

Get it right, NP. We're talking about NET WEALTH here, not cash.

Cheers

 

[Robyne]

If you have $1,000,000 cash sitting in a bank account and earning a whopping 2.5% interest you may be a millionaire but you are also not real bright!!!!
Robyne

 

[Sunfish]

Or you may be a pessimist keeping your powder dry. 'Casionally we have times when cash is king. '05 may be one of those times.

Thommo

 

[see_change]

Well done Maniyak!

Perhaps now we need a new book to debunk the idea that millionnaires don't work as hard as other people - in my experience they generally work harder and smarter (but enjoy themselves more).

Cheers,

Aceyducey

And Why is this so ??

Because they can actually see that they are getting somewhere ....


See Change