I think the next milestone is to achieve a net worth of $1m. This would be the amount that you would have, should you sell everything up. Net Assets. To me, you are a millionaire once you have reached this goal, although to declare that you have now won the race and you are, indeed rich, would be pure folly. It is true that many would not be able to slap $1m in cash or a bank cheque within 48 hours at this stage, but nevertheless, they are technically millionaires.
20 years ago it was a lot of money,even ten years ago 1 mill had still a lot of power,but not now ,it is a good level to be at but the trick is to turn that 1 mill into 2 then 4 million,that happened to my wife and myself
just on property values alone,not that that means anything,but then again i started with 4k in my back pocket in 1983,we hit the i mill level in 2000,property values in inner brisbane have not stopped going up in
some area's for the last 15 years,i know property investing works it just depends on how fast you want to get there,if the internet was around 20 years ago what a different world we would have now..imho willair..