Re:How to get rich without being lucky (2019)
by Swannie on Sunday May 23, 2021 @07:56PM
(#27259740)
But being a millionaire in today's world is not being rich or wealthy. Millionaire Next Door was published *25 years ago*.
To be relevant today it should be titled "Multi-Millionaire* Next Door (* Net worth > 5M)".
I'm sure for a lot of people 1M sounds like a lot, but when a majority of your wealth is tied up in your house - a much much larger % of a 1M dollars today than even 15 years ago - it's not working for you.
(Though, I concede that today, you have the option of refinancing and putting that capital to work, as interest rates are low).
To be relevant today it should be titled "Multi-Millionaire* Next Door (* Net worth > 5M)".
I'm sure for a lot of people 1M sounds like a lot, but when a majority of your wealth is tied up in your house - a much much larger % of a 1M dollars today than even 15 years ago - it's not working for you.
(Though, I concede that today, you have the option of refinancing and putting that capital to work, as interest rates are low).