How Many People Are Millionaires Without Counting Their Home?

Comments · 1.4K

• CH

  @ChrisInvests · 1 year ago · pinned

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• ME

  @memags · 1 year ago (edited)

  I’ve been saying this for years. I never considered my self a millionaire until I was a liquid millionaire. Hit liquid at 50 yrs old. Paid off house at the same time. At 53 I’m 1.3M liquid. 700K home value. 2M net. Not too bad for a plumber. Wife stayed home for 20 years as well. Invest regularly ( dollar cost averaging). I’m no genius, just consistent. I’m very conservative, no rental properties. I have a low risk personality. Sometimes I wish I gambled on buying some property but just went the slow and steady route. Lived with in our means, no extravagant vacations, bought good used cars. I have some toys and by no means live frugally either.

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• RI

  @Rick-u2h6b · 4 months ago

  I would argue that paid off rental properties could be included. NOT your primary residence.

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• VI

  @viviancarolgioao · 1 year ago

  Stock investment is currently better than real estate because it offers greater liquidity, allowing you to buy and sell quickly. It also requires less initial capital, making it more accessible, and you can easily diversify your portfolio to spread risk. A lot of homes on the market here in Daytona Beach FL, including our 1 year old home for 60 days and no offers yet. &nbsp;There are still many lots available and builder spec homes to compete with. &nbsp;Our home is paid for and already reduced $40,000 and pretty sure we’ll have to drop more. &nbsp;The home we’re purchasing in the state of Washington is the same price of our Florida home but has less square feet and cheaper finishes.

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• DU

  @dunggg · 1 year ago (edited)

  I rent and still amass a 1.4 net worth with 150k in cash. Renting help me got here. Being in the military I move all the time, and buying a house is risky

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• XL

  @xlerb2286 · 1 year ago

  I worked with quite a few people that were what I always called liquid asset millionaires (investable asset millionaires is a better term). &nbsp;You&apos;d never spot them. &nbsp;They lived in typical middle class neighborhoods and probably had been in the same house for years. &nbsp;Their cars were well cared for but likely were years old. &nbsp;If it was a newer car you can bet they&apos;d had the car before it for many years and would have this car for many years to come. &nbsp;But if you got to know them better you may find they had interesting and sometimes expensive hobbies, or donated significant amounts to charities, or may had some more exotic car in the garage that wasn&apos;t their daily driver. &nbsp;Often the only time you&apos;d figure it out was when they announced they were retiring many years earlier than the typical retirement age.

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• JI

  @jimrobinson4786 · 1 year ago

  Never met or heard of someone happy with a reverse mortgage.

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• CH

  @chuckhostetler4906 · 1 year ago

  After watching this I can hear those people laughing at me when I was working all the time. My wife and I were both blue collar workers and she didn&apos;t work any overtime. But I was able to get 20 hours a week every week for 30 years. Was I tired yes but we had a deal if we saved all her money I would work all I could. 30 years went by fast many people told me that my wife should stay home because I worked all the time. But I wouldn&apos;t give in, I did retire at 55 years old 69 now worth 3 million without the house. Seeing this show really made my day.

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• RO

  @robertgallagher3421 · 7 months ago

  Leaving out home equity makes sense. Everybody has to live somewhere &amp; you can&apos;t eat your house.

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• GA

  @garyish · 1 year ago

  It’s beautiful knowing that I am among the 2% of people in the US who are investable asset millionaires 😎 <br>Happy Sunday everyone

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• UN

  @univibe23 · 1 year ago

  The thing about home ownership whether you own outright or have a mortgage with equity--you have to live somewhere, so if you sell you have to buy something else or rent.

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• NE

  @nehayt-x1u · 1 year ago

  Hey you, yes you reading this.. don’t give up. 💛 Life can feel like pushing a boulder uphill, but you’re stronger than you realize. When I first heard about Manifest the Unseen by Luna Rivers on a podcast and then read it, something shifted for me. It brought me clarity, peace, and so many unexpected blessings. Maybe this is exactly what you need right now. Wishing you a wonderful day ✨

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