To be a millionaire in the United States is to still be poor

[vervainagospoda]

Aw that is a sad thing because a 76 square meter is too small for a rich person who will spend around 1 million dollars to get a new home but for that 76 square meters then i can say that it is not worth it and it is better to move out and go to other countries where you can live like one of the richest because there is a lot of small countries that has a huge rate per dollar.

1 000 000 dollars is 1 600 000 BGN here. Think how you would live as an appartment like that in the capital is no more than 100- 120 000. The new S Class is about 150 000. You go out and eat for 10 BGN so yeah you would have decent life here

[lucifochrome]

Being rich and being poor depends on your perspective, if you are talking about the apartment well 1m USD will get you a decent house to live in. That is if you live in other states ar maybe a bit far from  capital. If you live in the state of new york then that will be a much smaller space.
Being a millionaire should start with the person's mind set.
You can choose to rent an apartment further from the capital as it is much lower,also you have to think of doubling you million,so think of ways that will gain you profit. You can  then invest more in bitcoin or put up a business or whatever it is that may gain you that extra million.
Since being a millionaire is a mindset you can still be poor if you dont have a good lifestyle, why im saying this is because, lets say you earn a million and invest it to bitcoin, stocks or anything else but each time you earn you also buy something like luxury car which will cost a lot and then you'll buy a house then another house. It is like everytime you earn money you keep on upgrading your lifestyle therefore you will not become a true millionaire. You are simply making ends meet.

[ethereumhunter]

millionaire or not, as long as as we can buy something we want, i think its enough. i mean if we want to buy something, we can directly to buy and not waiting for the other days. but i agree that if we live in united states, we need to have much of money because in that country, everything is expensive and we can not buy something we want. fortunately for people which is live in out side of united states, they can be a millionaires in their country while they are doing something with bitcoin. but in future when bitcoin price become expensive, i am sure that people which have bitcoin, they become multi millionaire and they can able to buy everything they want except time.

[batang_bitcoin]

Cost of living in US is very high but think about those countries that are declared as the best high cost living places. A million can even be spent there easily or it can't even get a year or two. Why not try to migrate in other countries you are familiar with and have a new start with that amount?

I could retire with a million dollars, well at least don't work for others ever again in my life, unless very well paid.

The same here in my country, I can definitely retire and start my own business or just enjoy my life to the fullest with that amount as I don't need to rent anymore here.

[Baofeng]

Being a millionaire is relative. Some countries which has a very low cost of living and having a million dollars would be awesome and you can buy not just a house but a building. But if you are in the States or other country which has a high cost of living, then 1 million dollars would be nothing. So it really depends on what part of the globe you are. But I know for a fact that not all states have a high cost, so if you really want to spend and buy apartment then you should research which part of the US you can buy cheap house.

[pedrog]

Here in my country, you can make a good living with $300 dollars a month.. And i traveled to united states a few years ago, and i had to spend $100 dollars a day (aproximately) to buy the same things that i boughted in my country, buying food, stuff, etc. But minimun wage in USA is aprox $3000 - $4000 a month, so that is why it is so expensive to live in there.

I live and work in the united states. I work part time. I don't make nearly anywhere near $3,000 and I work above minimum wage.

I make (before taxes $9.00) Minimum in my state is $8.25 I think.

After taxes weekly earnings for 5 days a week and 30 something hours comes out to about $200 something dollars.

So about $800-$1000 a month, above minimum wage with about 30 hours per week.

You won't be able to rent a house for under $600 ANYWHERE in the states
 
There are other basic expensives. Let's ballpark food at $300 a month, and let's ballpark gasoline at $60 and car insurance at $185... Let's ballpark health insurance at $100

All are basic costs....

Let's add them up.

(600+300+60+185+100) = $1245.....

So you can't afford the basics and to live anywhere in the United states at 30 hours a week.
Not in 2017 at least....



Bet your 30 hours could get you a nice apartment in New York in the 50s though....

And notice the stuff I left out... Cellphones, Internet Access, Water, Electricity....

Life in the US is rigged by the rich to the point of being nearly unlivable for the working class.



I'll let George Carlin explain that one.

https://www.youtube.com/watch?v=cKUaqFzZLxU

Wait, $185 per month in car insurance?

Like, every month you have to pay something like that if you own a car?

[DrGuns4Hands]

Living in United States with full of debts is so sick. Using a credit card on everyday transactions almost things that you can buy is on creditcards . even though you have a high salary on your job it all goes on your credit card with out a proper cash because they consider that having a cash is not that secure because there's alot of thief in the states. So if you buy stuffs using your cc your salary will going to your cc as a payment.

[amaral1977]

Just look at what a million dollars can get you. A 76 square meter apartment at the capital.

I'm sorry but that doesn't sound like being rich to me. That sounds like massive inflation has happened and we just haven't adjusted yet.


I have more faith in my worthless crypto-tokens over their worthless monopoly money they can print for themselves and their friends.


Fractional reserve masturbation economics don't reach me anymore.

I´m in Europe and feel free to send 1M fiat my way. I won´t be Uber rich but i have a few bills to atend to and that fiat junk would come in handy:) Can send it either via SEPA or USDT. thanx

I was kidding of course. It´s crazy the inflationary times we live in. Like here in Lisbon a few Hollywood celebs are tweeting about the city and that is driving prices way up and soon the concepto of a millionary will definitelly change.

[Carlsen]

I think it is not only a problem of the US but a general problem in the world.
There are those numbers that 0.1% of the population in the world own 80% of the financial assets.
And the wealth is even concentrating. Not a very encouraging developement in my eyes.
Maybe bitcoin can bring a contribution to spread the wealth at least a little better.

[fiulpro]

Change the country dude... People are earning 1 dollar a day in some places ..if you are lucky enough to get this much you should rather be happy than be sad...
If you will always look up to people who are richer than you...you will obviously won't ever stay happy... Tour the world enjoy... Remember that some people can't even afford a room on rent

[KonstantinosM]

Being rich and being poor depends on your perspective, if you are talking about the apartment well 1m USD will get you a decent house to live in. That is if you live in other states ar maybe a bit far from  capital. If you live in the state of new york then that will be a much smaller space.
Being a millionaire should start with the person's mind set.
You can choose to rent an apartment further from the capital as it is much lower,also you have to think of doubling you million,so think of ways that will gain you profit. You can  then invest more in bitcoin or put up a business or whatever it is that may gain you that extra million.
Since being a millionaire is a mindset you can still be poor if you dont have a good lifestyle, why im saying this is because, lets say you earn a million and invest it to bitcoin, stocks or anything else but each time you earn you also buy something like luxury car which will cost a lot and then you'll buy a house then another house. It is like everytime you earn money you keep on upgrading your lifestyle therefore you will not become a true millionaire. You are simply making ends meet.

That's exactly the myth I'm trying to dispel.

I say that even if you were a millionaire, all that money is worthless. Life (at least where economic freedom is concerned) is rigged.

You should never have had to "invest in bitcoin". You should be able to live freely, whether you are successful or not.

You shouldn't have to "double your money". The government is supposed to be by the people and for the people.

What I'm trying to say, in no uncertain terms is what George Carlin said.


There is a red, blue and white dick that is being jammed up our asses as US citizens. The owners of this country, using their vast fortunes are now re-writing the laws to suit them. We do not live in a government that is controlled by the people, but by the corporations, the financial institutions and their masters.


And the most incredible part is that they do not have to be evil, just incredibly greedy and entrenched into the system.

[Koadharber]

Just look at what a million dollars can get you. A 76 square meter apartment at the capital.

I'm sorry but that doesn't sound like being rich to me. That sounds like massive inflation has happened and we just haven't adjusted yet.


I have more faith in my worthless crypto-tokens over their worthless monopoly money they can print for themselves and their friends.


Fractional reserve masturbation economics don't reach me anymore.

Status of living on US is expected to be really expensive and having a million dollar would really go make you far and as you said that would only be sufficient enough to buy a 76 square meter apartment at capital which is indeed really a small thing for a million but you would be filthy rich if you do go on other countries specially on 3rd world for sure you would really live like a king on those amounts and you would able to make use of it on lots of things which you cant do on US.

[frumjanet]

Money is only worth what the cost of living is around you.  If you give a man 1m and tell him to live in a big city that is overpriced; he will be a homeless man much before a man who lives out in a rural area.

[GreatOrchid]

 There are poors in every country that exits in this world, that is nothing new. I see poor people on the best countries, and that is not strange for me. There is always going to be some kind of people who doesnt have much money, or unemployees, it happens everywhere. But obviously that it is shocking to understand that there is this kind of people in united states ,because most people thinks that usa means money, power and miami beach.

[Wayan_Pedjeng]

It is a problem everywhere, and not just in Washington DC. Even in my country, I can't afford to buy a decent sized apartment, although my salary is higher than the national average.

[player514]

Just look at what a million dollars can get you. A 76 square meter apartment at the capital.

I'm sorry but that doesn't sound like being rich to me. That sounds like massive inflation has happened and we just haven't adjusted yet.


I have more faith in my worthless crypto-tokens over their worthless monopoly money they can print for themselves and their friends.


Fractional reserve masturbation economics don't reach me anymore.

Note that the United States spreads far beyond just the capital. Texas is a state that's growing in popularity for people to move to, and since there's so much land available, prices are much better. Take a look at this:

http://www.chron.com/homes/article/What-million-dollar-homes-looks-like-around-Texas-10606493.php#photo-11785895

I think a million dollars is definitely a sum that has lost its value in terms of word, but it still definitely can help you get by in life well.

[Mometaskers]

I heard it's expensive there, especially in cities like New York. I find it weird how economics work. I mean, the  most expensive city is Luanda, in Angola!

And it's not just the prices that have not adjusted. Wages basically stagnated and is unlikely to budge any time soon.

The cost of living is pretty high there. I haven't been to New York but from what I heard, the prices their are crazy that even their freakin' coffee costs so much. Perhaps that's what OP wanted to point out.

America used to be land of milk and honey, everyone wanted to migrate their back then with the hopes for a better future. Right now, everyone's working really hard and sometimes forced to have double jobs just fend off for themselves. I personally think that a million dollars could go a long way but if the cost of living is too high, then I guess in a way it would still make you poor.

No wonder more and more Americans are choosing to retire abroad. Plenty of them here in our country, usually in the hospitality business. That $1M would go a long way here in Asia. I don't know any of them, but most white expats I see on TV seem to have entered the resorts business. Can't blame them. Just buy a beachfront property, build some cabins and cabannas, and you're good to go. Passive income while spending your days on the beach.

[The Sceptical Chymist]

I heard it's expensive there, especially in cities like New York. I find it weird how economics work. I mean, the  most expensive city is Luanda, in Angola!

And it's not just the prices that have not adjusted. Wages basically stagnated and is unlikely to budge any time soon.

It is expensive, but you could buy a very nice house and car and still live very well for a few years in the US with a million dollars.   That is hardly "poor".  I've never had a million bucks, and I've been working for 25 years in a job that doesn't exactly pay minimum wage.  So that statement in the OP is just false.

[player514]

I heard it's expensive there, especially in cities like New York. I find it weird how economics work. I mean, the  most expensive city is Luanda, in Angola!

And it's not just the prices that have not adjusted. Wages basically stagnated and is unlikely to budge any time soon.

The cost of living is pretty high there. I haven't been to New York but from what I heard, the prices their are crazy that even their freakin' coffee costs so much. Perhaps that's what OP wanted to point out.

America used to be land of milk and honey, everyone wanted to migrate their back then with the hopes for a better future. Right now, everyone's working really hard and sometimes forced to have double jobs just fend off for themselves. I personally think that a million dollars could go a long way but if the cost of living is too high, then I guess in a way it would still make you poor.

No wonder more and more Americans are choosing to retire abroad. Plenty of them here in our country, usually in the hospitality business. That $1M would go a long way here in Asia. I don't know any of them, but most white expats I see on TV seem to have entered the resorts business. Can't blame them. Just buy a beachfront property, build some cabins and cabannas, and you're good to go. Passive income while spending your days on the beach.

The difference is sourced from the population and the strong presence of a lower class in Asia. The US has such a large amount of millionaires and due to the opportunity options here, the price of living and housing is hiked up significantly. More urban areas always have that strong upper class population that makes the cost of living higher.

[Despacito]

I do not care about that very much. If I have about 1 million dollar, I will be extremely rich in my country and I will not worry about anything. USA is a high standard country, that is why the price of almost everything is higher than other countries. I live in a third world country, so I believe that 1 million dollar is enough for me to retire my job and live a happy life till the day I die

USA is a expensive country certainly, and you can live happy forever in your country with 1 million dollar. There is no doubt. This is true for most of us living in second or third world countries.