10 Reasons Why You Are Not Rich, Article

[cardona6569]

http://www.thestreet.com/_email/newsanalys...n/10345796.html

Please copy and paste the link which is part of the street.com publication to see if you agree with the reasons or not. I wrote to the writer he said he practices what he writes and that he is rich and that any rich person will tell you what he wrote is correct. I put it to the test with us the Lexus Club.

CPR

[SW03ES]

I absolutely agree with everything he said.

[1990LS400]

The most interesting aspect of the article is the use of the term "millionaire". $1,000,000 of gross or net assets IS NOT wealth in year 2007. $1M of net assets or even $1M in cash not including a home won't begin to fund a decent retirement lifestyle in the coming years. Last time I checked the stats, a significant percentage of U.S. households had net assets greater than $5,000,000.

I guess everyone has there own yardstick but as far as I am concerned, anything called "wealth" starts at substantially over $10,000,000 in net assets.

[RX in NC]

I agree. A million dollars these days is unfortunately just a drop in the bucket. A catastrophic injury or illness can run through a million dollars in a heartbeat if your insurance situation isn't properly tuned for your particular circumstances....

[cardona6569]

Thinking about it, the article means very well, good habits all over. Second, I believe this is the second part of work hard and become rich, now is become a millionaire. The problem is that sociology tell us that most of the people that are millionaires had some good foundation from their parents, that were well off to afford good education, habits and formed them with great traits. Many years after 20 or 30, their heirs became millionaires building on the wealth, education and properties their parent gave them as a legacy. Some but are just a tiny fraction, invent or develop something that makes them millionaires, Warren Buffet, and the Gates of the world. For the majority that are poor from birth, they may work a lot and become well off very late in life in their 65's to 70's when life just is not the same as for a person in their 30's. Taken that with good health, you can enjoy a lot of life at any age, but the habits and routines needed to make more than others, the stress usually, not always takes a toll on the people. Leaving them with money to spend on Doctors, Divorces etc.

My Opine, this article is an update of the American Dream. The American Dream is hard work, some luck and love and health to support it, without the last two you got money that is useless to enjoy life.

CPR

[indiasfinest]

i read this article and agree completely

[SW03ES]

I also agree that $1,000,000 in net assets is not a strong enough foundation to fund a meaningful retirement lifestyle...

[djspawn00]

thank god i'm a millionaire... in mexican currency anyway.

[indiasfinest]

haha :D