U.S. millionaires say $7 million not enough to be rich

[baldguy]

http://news.yahoo.com/s/nm/20110314/lf_nm_life/us_fidelity_survey;_ylt=Ao0KKdvsfTU.AiAmCWf0WL2s0NUE;_ylu=X3oDMTJmNzAxZTI5BGFzc2V0A25tLzIwMTEwMzE0L3VzX2ZpZGVsaXR5X3N1cnZleQRwb3MDNARzZWMDeW5fbW9zdF9wb3B1bGFyBHNsawN1c21pbGxpb25haXI-

:nopity:

[provis99]

1. I could buy a goddamn castle in Tuscany if I had $7 million.

http://www.tuscanyrealestate.co.uk/Tuscany_Properties-500_000-1_0/CASTELLO_VENTOSO/castello_ventoso.html

I think rich people need to be given a history lesson on the French Revolution and the guillotine.

[progressiveinaction]

13. After the shooting in Arizona

I read post after post here advocating toning down the rhetoric. I thought it was a good idea.

Not that the comparison is the same situationally, but from a rhetorical standpoint, imagine Limpballs said Al Gore needs a lesson on the French Revolution and the guillotine. The outrage here would be epic, and rightly so.

Yet I see post after post here hinting at violence (especially when the rich are mentioned) and no one seems to care (occasionally a few do, like me).

So were we serious when we said that the rhetoric needs to be toned down or not?

[walldude]

2. Top fucking story...

But hundreds of thousands marching on a Capitol to keep their 50 grand a year... not a peep.

[HockeyMom]

3. So explain to me, how people can vote REPUBLICAN

who don't even make $100,000? They think they are someday going to be MILLIONAIRES? Or they are living under a rock (like my Rep husband) and think THEY are making a lot of money with these salaries?

The Republican Party depends on a whole lot of STUPID people who are voting against their own interests.

[provis99]

4. yes, they think they will be millionaires some day.

That is actually the reason they vote Republican. It's the same false hope that led hundreds of thousands of poor whites to fight for the Confederacy, even though they didn't own slaves; because they felt they were going to be rich slaveowners someday.

[baldguy]

5. Like "Joe" the "plumber"

[provis99]

10. a perfect example. n\t

[Uncle Joe]

7. Mostly they're brainwashed by the corporate media but in some cases the left help motivate

them to do so.

It's like they say, you can catch far more flies with honey than with vinegar.

When the left uses vinegar without regard to the emotional backlash consequences, the corporate media and right wing politicians jobs of brainwashing/deceiving, the less informed masses becomes all the easier and in turn so does their endless endeavor of dividing and conquering the American People as a whole.

[KamaAina]

6. One, two, three,

AWWWWWWWWWWWWWWWWWWW!!!!!!!

:sarcasm:

[mainer]

8. The insecure NEVER feel "rich enough."

These people will always be worried they'll die in poverty. But you have to wonder, if we had universal health care, maybe many of them -- many of all of us -- would stop worrying and finally feel secure enough.

[jmowreader]

9. $7 million really isn't enough to be rich

Oh, trust me: it is a shitload of money and you could live pretty damn comfortably for the rest of your life if you had $7 million in cash.

The problem with that little money is, you can't do anything REALLY juicy with it. You can only open a serious business with that much money if you're willing to go to 10:1 leverage. If you want to be a securities player with that much money, you're going to do a lot of trading on margin--the riskiest kind, because it's one of the few ways to lose more money in the market than you've got in it. And you can't do the kind of serious philanthropy that some people think all millionaires do because there's just not enough money for it.

Your choices with $7 million: open one of those small businesses that employs 10-15 people and lets you take $50,000/year out, build a nice sustainable portfolio that throws off $50,000/year in capital gains and dividends, or build a nice house and get a job that will give you lots of personal satisfaction but won't really pay the bills.

If you want to actually be rich--the difference between not-rich and rich is not-rich people work for money and rich people's money works for them--you really need $50 to $100 million. With that kind of money you can build a business big enough to positively affect your local labor statistics without having to borrow money for it.

[provis99]

11. you are rich if you don't have to work for a living.

$7 million is rich.

[jmowreader]

14. $7 million is wealthy, not rich

Someone who's only got $7 million needs to work for a living because his standard of living is going to demand it. Like I said, it is a shitload of money...but a millionaire is not going to live in a $250,000 tract house and drive a Camry. If he DID live that way he could just "live off the interest," but he won't.

Besides, if you had $7 million in the bank, the thing you would want more than anything is another million to put with it.

[Hugabear]

12. Jesus H Christ, do you know how much it costs to buy a fucking yacht nowadays?

I don't mean a small yacht like this:


I'm talking about a luxury yacht like this: