 A matter of distinctions
One of the best definitions of intelligence I've run across is "The ability to make finer distinctions." So here are some distinctions worth making:
Asset Millionaire You control assets worth $1mil or more.
Equity Millionaire The portion of the assets' worth that belongs to you totals $1mil or more.
Cashflow Millionaire Your assets provide $1mil or more worth of cashflow.
Living the Millionaire Lifestyle You fly around on private jets, work 4 hours/wk (or work 80 hrs/wk at something you love), hire a butler, cruise around the world, or whatever else is your personal dream, without money getting in the way. Depending on your personal dreams, may take significantly more or significantly less than $1mil.
Hopefully that'll help clarify discussion.
Bibliography: The definition of intelligence is from Robert Kiyosaki's Rich Kid, Smart Kid. The definitions of the millionaires are from Bill Barnett's Are You DUMB Enough to be Rich?. The concept of living the millionaire lifestyle is from Tim Ferriss' The Four-Hour Workweek
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Amanda Himelein |