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Old January 5th, 2013, 12:52 PM   #29 (permalink)
A.Nonymous
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Originally Posted by Speed Daemon View Post
That's your opinion. I didn't make the new definition But considering how many people in the US are worth $1,000,000 or more, and how inflation has made the million-dollar milestone less of a big deal, I don't find any reason myself to ridicule the new definition.

Millionaire - a person whose wealth amounts to a million or more in some unit of currency, as dollars.

That's not my definition, that's dictionary.com's definition. There are (according to Boston Consulting Group) 5.1 million households with a net worth of over a million dollars. That's out of about 132 million households in the US (2012 census). By my math, that's about 4% of US households are millionaires. That's not a huge percentage at all no matter how you look at it. The definition of millionaire has always been based on net worth. There is a reason for that. Wealth doesn't necessarily have any correlation with earning.
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