When are you a 'Millionaire'?

what is that equivalent to, $5 USD? hehe

 

Damn,
Never had Cognac (is it sweet, bitter?). I've heard of it, actually though it cost more. Got this from Las Vegas Review Journal's Clarke site: . Poker ace Phil Ivey, buying a $13,000 bottle of Louis 13th cognac at hockey tough-guy Claude Lemieux's birthday party at Caramel.

 

Sure....Send me $49.99 and I'll show you the way to financial freedom!

 

Will $499.99 get me a bigger slice? I can take out a loan...

C.

 

Absolutely!!!

 

I think the idea is, if you are truely independantly wealthy, you are no longer providing 'services' to anyone.


Except maybe loaning out your money. But how polite is the bank, really?

 

I think with old money, you are a millionare if you are worth atleast 1m.

With new money and rappers and what not, its atleast 10 times the 1million.

Depends on how you spend it?

Millionares:
I know the owner of Volcom and he still lives in his beach shack and drives his Volvo. And he's never been happier...

I also know the family of Scott Boras, and well... if you have a house worth $15m, 5 cars, a jet, 2 live-in maids, a personal family assistant, then you are happy. Right? Not always the case...

Whatever you make it to be...

 

Nonono, don't say Louis "thirteenth"...you gotta make it sound more pretentious...say "treize" or whatever the hell it is in French

 

Do you mean Mario Lemieux?

Hockey players are infamous and unlimited in their potential to ring up a bar tab.. I spent three hours going through 36k in charges last year --one party, four hours.

Push whatever high-end liquour you can in front of them. They'll buy.

C.

 

2 Different guys, Claude and Mario.

Now their parties have to be 24% less extravagant!

 

To feel like a millionare is a subjective thing. My notion is 50 mil is assets and up today. That way you could have a 5 mil house and a 1 mil boat and 1 mil in cars and 2or 3 mil in personals and still have 40 mil working to support you. The house goes up, the boat goes down in value. The 40 mil at 7% net you 2.8 mil a year in an average year and that's being a millionare. You pay your living expenses out of the 2.8. If you want a new car or boat , no sweat. You can travel, pay 100k in property taxes, 1 mil to uncle sam, 25k for insurance, about 100k/yr in home and boat upkeep. You still have money to pay for college for you family and your nephews too (any relative). Donate 100k in charity/yr. Pay expenses for the club, whatever that is.

 

Million a year or more in income is a true millionaire after all liabilities are paid.

 

Just copied it from the Norm Clarke guy. Of course, its the same guy who totally twisted the Ferrari mess-up at Wynn.

Aren't their differnet "levels" of Louis XXIII, like Captain Morgan has. They have the regular Rum, and a "special reserves" rum that is more expensive. What is cognac exactly? Why is this one so expensive?

Personally, I think having an a net worth of atleast $50 million is the "truly" rich. $30 million is alot, but it's easy to blow through on the luxurious things. Also, alot of the private jet owners (and not the small, rinky-dinky jets-but the luxury jets, the LearJets, Gulfstreams, ect), usually have a net worth of atleast $50 million. I'm not sure how much it costs to fly a private jet (fuel, flight crew, maintance, landing and hanger fees), but it can't be cheap.

 

Sad thing with alot of celebrities and rappers, they aren't worth $10 million with expect of a few big-time people. They spend it as fast as they get.

Scott Boras? Name sounds familiar, but can't piece it together. Is it his family that isn't happy or him. Think people who earn the money, are generally more happier and can enjoy money more so, but not to the point of it being the "key of happiness"?

 

I've always figured you could tell how rich someone was by how expensive their tombstone is...

 

Right there with ya Tim!

 

My question would be then, how many "millionaires" can live without worrying about money, or are overextending themselves and will lose the money when they hit retirement? Also, how does the dollar's value have an impact?

 

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