The Millionaire Definition Hasn’t Changed, But Its Meaning Has

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The millionaire definition is pretty straightforward. It’s a person who has a million-dollar net worth. Always has been. Always will be.

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What does it mean to be a millionaire, though? How can that coveted status elevate your lifestyle, and to what extent?

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Let’s take a look at what it means to be a millionaire today and how that meaning has evolved over the decades and centuries.

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A million dollars gets you a 8,000+ square foot home in parts of Ohio, Alabama, and Texas, among other places.

Using a 3% to 4% safe withdrawal rate, a million-dollar retirement portfolio would give you $30,000 to $40,000 per year to spend annually.

Most or all of the $18,000 to $24,000 safely withdrawn from the portfolio would cover the costs of home ownership including property taxes, utility payments, maintenance, and upgrades.

Check out the full article by clicking Read more below.

The Millionaire Definition Hasn’t Changed, But Its Meaning Has

The millionaire definition is pretty straightforward. It’s a person who has a million-dollar net worth. Always has been. Always will be.

What does it mean to be a millionaire, though? How can that coveted status elevate your lifestyle, and to what extent?

Let’s take a look at what it means to be a millionaire today and how that meaning has evolved over the decades and centuries.

A million dollars gets you a 8,000+ square foot home in parts of Ohio, Alabama, and Texas, among other places.

What Can You Do With A Million Dollars?

Using a 3% to 4% safe withdrawal rate, a million-dollar retirement portfolio would give you $30,000 to $40,000 per year to spend annually.

A Million Dollars in a Retirement Portfolio

Most or all of the $18,000 to $24,000 safely withdrawn from the portfolio would cover the costs of home ownership including property taxes, utility payments, maintenance, and upgrades.

Can One Retire When Reaching Millionaire Status?

Check out the full article by clicking Read more below.

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