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Tag Archives: investing a million dollars

Does A Million Dollars Make You Rich?

In a world of ever shrinking guaranteed retirement benefits, how much would we really need to feel secure about our long term financial stability. I used to think having a million dollars would make me rich. When your reach that milestone, you get to belong to a new club, the millionaire’s club. Millionaires lead the luxury life we all dream of right? If you were given a million dollars tomorrow, would it make you rich? Becoming rich by having a million dollars depends on several things. How Much Debt You Have Having a million dollars would not have gone very far for us about a decade ago. With a residential and commercial mortgage, business loan, student loans, auto loans, and consumer debt, we were almost $750,000 in the red. A cool million would have paid that off and left us a nice chunk of change to build on, but I wouldn’t have considered us rich. Will You Ever Earn Any More Money? If someone gave me a million dollars today, tax free, and I never worked again, lets see what sort of lifestyle that would allow. I’ll hide it under my mattress because I don’t trust those evil financial planners, ...

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