'Are you a millionaire?' poll discussion.

cw18

dougz wrote: »

Ditto. How is that possible?

Failed businesses?

harryhound

If Martin can "prove" what a high proportion of the site users are high net worth individuals, he will be able to get more sponsors (the suppliers with the asterisk after their link).

harryhound

cw18 wrote: »

Failed businesses?

I know at least two.

And they are not bankers.

Miss-spent_2

zygurat789 wrote: »

I was under the impression that if you had an income of £100,000 or over you were classed as a millionaire.

What makes you think that?

Tojo_Ralph

harryhound wrote: »

If Martin can "prove" what a high proportion of the site users are high net worth individuals, he will be able to get more sponsors (the suppliers with the asterisk after their link).

I think the weight of evidence points to a high proportion of site users being unable to do basic arithmetic.

SailorSam

Everyone is only talking about the monetary value of their assets, i suppose because of the way the Op phrased the question. I looked in a dictionary for the meaning of 'asset' and got,
A useful or valuable quality; person; thing; an advantage or resource.
How do you put a value on being a good person; having a loving family; or friends you can depend on. These are the things that show your true worth.

oggybags

I come in as N despite having a healthy amount of equity in our moderate 3 bed terrace, and a very healthy dinky income the burden of mortgage and student loans means I'm still in the red - however as its all mortgage i dont really think of it as debt

how under 30s are expected to also have savings and pensions given student loans and house prices is surely a bubble waiting to burst!!

oggybags

dougz wrote: »

Ditto. How is that possible?

£2m house with 50% equity still leaves £1m mortgage so i guess some millionaires are actually still in huge dept too, just controlled??

Saetana

I was really surprised that around 75% of people seem to have assets outweighting debts in the current financial climate - unless of course there are some seriously dodgy calculations (which wouldn't be difficult as it can be pretty complicated if you have several things to take into consideration, not to mention halving to allow for partners!).

I have no real assets but no real debts either so somewhere in the middle for me (lifetime renter).

Ooh, just remembered my student loan, income too low to pay it back at the moment, suppose that puts me in around £10,000 or so of debit.:(

cw18

Saetana wrote: »

I was really surprised that around 75% of people seem to have assets outweighting debts in the current financial climate

I'm not that surprised, but would expect that for most people (like myself) a good percentage of it is actually tied up in the home.

The fact that we are all members of this site indicates we've learned/are learning how to look after our pennies - and that we're trying to keep our level of outgoings below our level of income, so not building up new debt.