What makes a true millionaire?
By clorissa123
@clorissa123 (4926)
United States
May 28, 2009 3:40pm CST
According to statistics, to be a millionaire. You mustn't count your property, such as the value of your house in the accounting. Because even you are living in a million dollar home, house is only the cost center. If you have stock, or bond, these are the profit center. So, what you have in total value, subtracts the assets, and the debts. The remaing profit equals to million dollars, you are a true millionaire. only 1% of us are truly millionaire.
2 responses
@derlilaStern (1756)
• United States
28 May 09
If you own a million dollar house without a mortgage, it can be counted as an asset. It is the value of your assets minus your debts that determine your worth! The reason why so few people are truly millionaires is that so many people have so much debt!
I dont even have to worry about it. Even if you added up the value of everything I owned and pretended like I didnt have a mortgage or a car loan, I still wouldnt be a millionaire!! 
@setsuna26 (2748)
• Philippines
27 Mar 10
If your someone whose pretty much determined to be rich then i believe its not impossible at all, you just need to be well motivated and have the people to help you out.Its going to be merely impossible for someone to be rich instantly unless you won the lottery, thats why it takes a great amount of determination to succeed ;)
