3.5% of Americans have a net asset worth of $1,000,000..... - Posted by David

Posted by Justin-IL on March 18, 2000 at 08:20:20:

My goal is simply to be able to do what I want, when I want. It’s all about freedom. I look at it like this: Having time for myself, my family, and my Church is #1, and if I become a millionaire in the process, great! :slight_smile:

3.5% of Americans have a net asset worth of $1,000,000… - Posted by David

Posted by David on March 17, 2000 at 16:35:36:

according to the book, “The Millionaire Next Door”. I presume that most people investing in real estate are in it for the money, income, wealth generation, or how ever you want to express it, but the money. Most probably have some goal of some sort and a MILLION is a nice round number. And the millionaire show doesn’t hurt either. Or the standup comedian/real estate investor of that other tv show.
Do you want to be a millionaire? As being having at least a million in NET worth. Many on this board have had great sucess already and many more just starting out will obtain their goals. what is your financial goal? 1 million, 10 million, 100 million or more?


I would hate… - Posted by Dirk Roach

Posted by Dirk Roach on March 18, 2000 at 21:31:46:

to have that much cash sitting around, not making me any money.

Great Question, Great Responses - Posted by Rolfe Mpls/StP

Posted by Rolfe Mpls/StP on March 18, 2000 at 15:54:30:

My $0.02;

Faith and family, then work. REI allows us the freedom to dream, to know that we can accomplish what we set out to do.

My goals? 100 rental units, which, based upon my current empire of 8 units, would be about $2million net worth, and about $250k annual before tax cash flow.


Re: 3.5% of Americans have a net asset worth of $1,000,000… - Posted by George

Posted by George on March 18, 2000 at 11:56:27:

3.5% of Americans have a net asset worth of $1,000,000

How many live in NYC and silicon valley? 99.9%

Re: 3.5% of Americans have a net asset worth of $1,000,000… - Posted by Laure

Posted by Laure on March 18, 2000 at 07:16:20:

I’ve always been intrigued with the term “deca-millionaire”. Gives a new perspective to an old word.


Laure :slight_smile:

My goal is to have a blast–everything else is cream! - Posted by Lisa in Oz

Posted by Lisa in Oz on March 17, 2000 at 19:06:33:

That’s the truth. What’s the name of that book? “Do What You Love and the Money Will Follow?” I’ve never read it, but I believe it. Had a meeting today with a guy who just might assist me in making a ton of money which is cool, but the best part was just sitting and talking deals. Beats any JOB.

Re: 3.5% of Americans have a net asset worth of $1,000,000… - Posted by chris

Posted by chris on March 17, 2000 at 18:54:39:

Interesting. Another neat figure is that there are 69,000 people with INCOME of $1 million or more in the United States.

Re: 3.5% of Americans have a net asset worth of $1,000,000… - Posted by Doug Pretorius

Posted by Doug Pretorius on March 17, 2000 at 16:58:18:

I’m not so much interested in net worth as I am in putting together good deals, enjoying them while I’m at it, and generating some nice low-maintenance, long-term cashflow, so I can go where I want, when I want without an employer or clients breathing down my neck.

However, that cashflow comes from assets with value, so to generate whatever income you deem necessary you will have (unless you’re doing all lease/options) a cooresponding net worth. So if you want say $10,000-$20,000/month you’re going to be controlling millions in assets.

Besides, saying you are a real esate financier with $10,000,000 net worth is always nice too :slight_smile:

Re: FREEDOM…does not have a price attached NT - Posted by Jim Rayner

Posted by Jim Rayner on March 17, 2000 at 16:52:56:


Its not the worth but how you make it work - Posted by Andreas

Posted by Andreas on March 19, 2000 at 05:29:06:

I tend to agree it is a numbers game with the goal being to control a sufficient number of units to have sufficient cash flow. As such the net woth s somewhat irelevant what is more relevant is the the size of the cash flow that it generates. I feel that with r/e if I I want 300k before tax today that will be equiv amount in 10-20 years time.

Presently I have the same goal (100 units) and am at 48 units when I settle early april on another block of 15 units. This will take cash flow to $8000 p/w.



No chance… - Posted by Mark (SDCA)

Posted by Mark (SDCA) on March 20, 2000 at 11:24:32:

Roughly speaking that leaves 7000 millionaires for the rest of the country. I promise you that there are way more than that in Fla and SoCal.