This did make me chuckle

Grumpy_chap

You also need it to a net liquid million

That is particularly relevant in the case of pensions.

Consider the example in the OP's article - the £900k pension pot.

Well, when that is withdrawn, there is likely to be some income tax payable.

MeteredOut

https://forums.moneysavingexpert.com/discussion/comment/82170156#Comment_82170156

our household's gross assets of about £3.6m are reduced to about £900,000 after removing house and pensions, and then to £330,000 after deducting all debt 😢

See, THIS is the sort of example that should have been on the Daily Mash article, not the piddling £900K pension pot example they used.

Albermarle

I have seen the definitions:

Paper Millionaire - Includes all assets

Liquid Millionaire - has £1M in cash or easily realisable investments.

horsewithnoname

it’s just a pee take of what I gather the kids call”humble bragging” or what used to be called showing off. A lot of totally tone deaf people do it, probably because they are actually quite insecure.

MeteredOut

https://forums.moneysavingexpert.com/discussion/comment/82170635#Comment_82170635

Whilst the Daily Mash post was amusing, if you do actually monitor eg, pension boards (less so MSE, but Facebook) you might be astounded at the number of people so have amassed pension pots close to £1M and yet have little understand of how they work, what options they have etc.

I really don't think the majority of these people are bragging when they post.

artyboy

https://forums.moneysavingexpert.com/discussion/comment/82170572#Comment_82170572

I think a gofundme campaign for @hugheskevi is definitely needed…

Cobbler_tone

Only on the MSE forum could a post (mocking the likes of the MSE forum) generate so many responses, many trying to pick holes (or debate) the article. The saying “fun at parties” springs to mind. 

MeteredOut

https://forums.moneysavingexpert.com/discussion/comment/82170802#Comment_82170802

And you simply could not resist joining us at the party. Don't worry, you're in good company 😎

But, i've got to go, I noticed they've just served the cheese and pineapple hedgehog.

Albermarle

https://forums.moneysavingexpert.com/discussion/comment/82170802#Comment_82170802

When I read it, I though less about MSE forum people, and more about the regular hand wringing stories of 'poor' middle class, Home Counties folk that pop up regularly in the Mail, Telegraph etc.

There was one today about somebody who thought their £900K pension pot was now a nightmare, due to the looming change in IHT rules.

horsewithnoname

https://forums.moneysavingexpert.com/discussion/comment/82170655#Comment_82170655

the point of this seems to have gone over a lot of people’s heads on here🙄