Millionaires, Corrected

My great uncle, Grumpy, pointed out that not only is my arithmetic sometimes shaky, my definition of a millionaire was too. A millionaire is someone whose wealth amounts to a million dollars, not someone who makes a million a year. So, you could make a whole lot less than a million every year and still be a millionaire.

But I don’t know whether this makes it better or worse.

Another way to say that a person’s wealth amounts to a million dollars (besides saying they are worth that, which is super-pukey — let’s not measure worth in ciphers and paper slips, but in actions and loved ones and dreams), is to say that their assets amount to a million dollars. Another way to say this is that they have a million dollars they aren’t really using. Sure, they might be living on the interest of these assets. They might be living in one or seven of their assets. They might fly and drive and wear them. But they aren’t spending them.

This looks worse for me. I’m a pretty good saver, but still, depending on the month, I’d have to multiply my assets by forty or fifty to be this kind of millionaire.

What about all the people living paycheck to paycheck? What about everyone who is in debt?


2 thoughts on “Millionaires, Corrected

  1. Bookers, I still can’t reply on your blog due to some incomprehensible issues with wordpress, but a question that comes up is how do we get a more fair and equitable distribution of resources. I think someone could conceivably earn a million dollars over their lifetime, but what are they contributing to society that is worth several millions per year, like most CEOs? Something is fundamentally flawed with the formula for compensation that is naturally embedded in the free market (or whatever kind of market we have.) How do we make changes to that that still reward innovation and hard work but also value people’s lives enough that everyone can make a livable wage? I don’t have a good answer to that question. Much easier to fix healthcare.

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