Nice article about the Super-Rich

[imirza]

They're the new elite, whose vast wealth is changing the social fabric of Britain. Yet to most of us, the super-rich remain a mystery. Just how different are their lives to ours? Are they happy? And how would they feel if they lost it all tomorrow? Here, seven tycoons tell all...

http://www.independent.co.uk/news/u...e-lives-of-britains-new-superrich-402354.html

 

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[cantwait2]

cool article...assets of $1m doesn't make you a millionaire IMO...nor assets of a billion a billionaire...not sure how they do there maths in England but if you have assets valued at a million and $200,000 in equity then I would say you are worth $200,000

 

[WheelsRCool]

If your net assets are a million or billion, aren't you a millionaire or billionaire? It's just that in order to live like a multimillionaire, you need a yearly income of at least a few million. for example, I read about a guy who was worth $50 million, but had a yearly income of $500,000, so his lifestyle was based on that; it the cost-of-living for him rose above that, he had to lower it to avoid dipping into the principle (I have read COL and inflation go up far faster for the wealthy)...

 

[cantwait2]

Net assets yeah...the way it came across to me in the article is they are referring to assets alone and not taking into acount the debt leveraged against them

 

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[MJ DeMarco]

Awesome article, it really reflects what I wrote about the Ubiquitous Millionaire. Speed for the find!