$7,000,000 is not enough to be rich!

Discussion in 'Economics' started by S2007S, Mar 15, 2011.

  1. you guys are funny. debating about 7 million being enough when most of you will probably never see 1 million.
     
    #31     Mar 16, 2011
  2. luisHK

    luisHK

    It's a forum for traders - where many longer term investors are posting- not a school teacher forum, obviously many posters are worth over 1million USD.
     
    #32     Mar 16, 2011
  3. luisHK

    luisHK

    + 1 , although I'm more familiar with the far east.
     
    #33     Mar 16, 2011
  4. most of the posters on et cant scrape up the 25k to open an account at ib.
     
    #34     Mar 16, 2011
  5. Wealth == How long you could sustain your current lifestyle (same expenses) if your income stopped, today.
     
    #35     Mar 19, 2011
  6. The more likely question is: "Will $7 million be enough to retire on when you get to where you have it?"

    I have no doubt I'll get to $7 million in the next 5 or 10 years, but how many eggs will it buy?

    I'll never forget the story of the guy who made BILLIONS in Zim's big bull market, and by the time he cashed out, he was able to buy 3 eggs with the money.

    I don't think any of you are pricing in the possibility of another hyperinflationary currency collapse. It has happened many, many times over the years, and is not an unusual ending for paper currencies.
     
    #36     Mar 19, 2011