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

[anamie]

Yeah you still poor in the united states even you have 1million dollars, because US is a high standard of living and the foods and things are so expensive, but here in my country  1 million dollars is enough to quit your job and enjoy your life.

[justdimin]

Wow,  i thought that having a living in United States was cheap, i was wrong. A lot of my friends that are living in USA told me that they were earning a lot of money, and that everybody could easily live in there and afford spending some money everyday. But i see that there is still necessity in all the countries, but i didnt imagine that it happened on usa.

If your friends told you that mate! They apparently do not like you and wants you to come and suffer with them. If you are earning perfectly well in your country, I see no reason why you should migrate to the U.S. It is like thug of war and if you do not have a green card, you will work your butts off just to earn peanuts.

Most times, some people get lucky to get a transfer or probably their skill was hugely needed which is quite rare, except that, you will suffer through your teeth to survive. I did not even mention the kind of work you will do to earn such peanuts.

[Ewox]

Yeah you still poor in the united states even you have 1million dollars, because US is a high standard of living and the foods and things are so expensive, but here in my country  1 million dollars is enough to quit your job and enjoy your life.

I think a million dollar is not that big of an amount if you live in the US, high cost of living especially if you live like in NY or something but if that million dollars would be converted in a third world country local currency then you'd be richer than those living in the US and could even buy you a house with that amount fully furnished.

[baedrill]

What? One million dollars is a lot of money. Most people won't see that amount in their lifetimes. It's a lot, but not enough for one to be considered ultra rich. You would still have to live within your means. Spend it on a different state or a different country.

[Persiville]

Correct me if I am wrong guys, I have noticed that some retired citizens of the states that after they had retired then they got their pension, they moved to a muh cheaper place or country and then they start living in that country again not as a retired citizen but as a wealthy or living a bit comfortable life there. My reason was this, in that place their money would be converted not only twice maybe ten times greater than the amount from way back their hometown where they lived before.

[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 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.

Well you have point there. Like in every business, they'll try to hike up the prices to as high as the market can tolerate. It is still hard for the people with lower income though even if they are nowhere near those millionaires. They still get pushed out when the areas they used to live in undergo gentrification.

How are people there coping?

[AleSergio]

Yeah you still poor in the united states even you have 1million dollars, because US is a high standard of living and the foods and things are so expensive, but here in my country  1 million dollars is enough to quit your job and enjoy your life.

But i think in your country people dont have such salarys as in United States. I think that it is just a problem of a current economic system, that we live in a really unfair world. Some countries even produce much more things that USA, but still salarys are much more higher, because USA has one of the most strongest economics. Thats why i like cryptos, here all people are equal and for example for bounty programms we earn equal ammount of coins, which is cool
P.S. In Norway 1 million USD is nothing

[geyayy]

If I am going to have a million dollar on my country? I will be really rich, I can buy a house and lot and also a car, and things that I want to. USA has a high cost of living, their goods is to expensive. Unlike here in my country, compared to USA, it is still cheaper here.

[Anthonyxx]

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.

This thought often comes to my mind.A millions dollars was always a synonym for being rich..
..at least it used to be back in the early 20th century when it was worth 20 times today's value.
Today you can barely settle all your bills and credits and you're left with nothing.
Imagine,God forbid,getting seriously ill.I think Breaking Bad sums up the scenario pretty well. 

[Sled]

If I am going to have a million dollar on my country? I will be really rich, I can buy a house and lot and also a car, and things that I want to. USA has a high cost of living, their goods is to expensive. Unlike here in my country, compared to USA, it is still cheaper here.

It is better that we are in a poor country that doesn't like the country of USA because in USA it is not worth it to have a million dollar there because of the high or expensive things that cannot be enjoy with just a million dollar. If you want to be rich in USA you need a lot of million dollars first but in other countries 1 million dollar is enough to have a luxurious life.

[Beicin]

1 million is not poor - your judgement is way off on this one lol. You dont know what poverty is if thats really what you think.

[Scallywag]

1 million is not poor - your judgement is way off on this one lol. You dont know what poverty is if thats really what you think.

This and it also depends where you live in the us. You guys are looking at big city's but there is no need to live there if you don't need to work.

[maydna]

1 million is not poor - your judgement is way off on this one lol. You dont know what poverty is if thats really what you think.

This and it also depends where you live in the us. You guys are looking at big city's but there is no need to live there if you don't need to work.

if we have 1 million then we don't have to live in the big city's because our expenses will also become bigger. when you want to buy something in the big city's, you need to spend more money than if you live in small or middle city. but if you can work smart in the big city's then i am sure that you can make big income too so you don't have to worried that you can not buy something.

[cpfreeplz]

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.

Living in a big city is really abnormally expensive so that's kind of a weird analogy. Where I'm from, $1million US will get you 100 acres and an 8000 square foot mansion. Yeah we get it, inflation is ridiculous, but it's going to seem so ridiculous when you look at expensive cities.

[Ngewex Yuk]

Yeah you still poor in the united states even you have 1million dollars, because US is a high standard of living and the foods and things are so expensive, but here in my country  1 million dollars is enough to quit your job and enjoy your life.

Yes, because the standard of living in the US is very expensive, I've felt the life in the USA, for the cost of renting a house or apartment can reach 25k per month, the average income of USA is very high, if earn about 1 million dollars per year of course it looks poor.

[nicster551]

1 million is not poor - your judgement is way off on this one lol. You dont know what poverty is if thats really what you think.

This and it also depends where you live in the us. You guys are looking at big city's but there is no need to live there if you don't need to work.

if we have 1 million then we don't have to live in the big city's because our expenses will also become bigger. when you want to buy something in the big city's, you need to spend more money than if you live in small or middle city. but if you can work smart in the big city's then i am sure that you can make big income too so you don't have to worried that you can not buy something.

Yes it always depends on your strategy on how you manage your money because 1 million is a big capital and it can give also a big profit if we manage it carefully and it can change everyone's life from different places but if we spend it only and not do any action that can help them to grow it can lead us to become expensive.

[dothebeats]

A million dollar can help you get rich, and that is depending on where you live lol. You picked an apartment in the capital, which is pretty much expensive due to its place, but have you tried searching for other states in which 1 mil could give you a nice house to live at and stil have some couple hundred grand in your hand? Housing cost apart from cost of living varies from state to state, so saying that 1 mil in the US won't get you rich by picking 1 state where housing cost is inflated does not provide your argument any solid backing.

[Hydrogen]

It is true that a million dollars isn't as much money in today's economy as it used to be only a few decades ago.

The buying power of fiat currencies have declined significantly as inflation tops 10% per year and most nations buy the currencies of foreign countries to boost corporate export profits(at the expense of individual consumer buying power).

The united states redefined how inflation is calculated years ago to transform a real 10% inflation rate into a 3% inflation rate. Similar to how unemployment was redefined to paint economic statistics in a more favorable light.

[streazight]

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.

This thought often comes to my mind.A millions dollars was always a synonym for being rich..
..at least it used to be back in the early 20th century when it was worth 20 times today's value.
Today you can barely settle all your bills and credits and you're left with nothing.
Imagine,God forbid,getting seriously ill.I think Breaking Bad sums up the scenario pretty well. 

I don’t think so. Millionaire in dollars in the United States has a very good financial position. Although they may not buy the luxuries of life but they can pass their lives more comfortably and easily. There will be no financial obstacles they will ever face if they have millions. I am saying this because in my country as I am not American if I have millions I will be holding a strong financial position.

[BitcoinMarshal]

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.

This thought often comes to my mind.A millions dollars was always a synonym for being rich..
..at least it used to be back in the early 20th century when it was worth 20 times today's value.
Today you can barely settle all your bills and credits and you're left with nothing.
Imagine,God forbid,getting seriously ill.I think Breaking Bad sums up the scenario pretty well. 

I don’t think so. Millionaire in dollars in the United States has a very good financial position. Although they may not buy the luxuries of life but they can pass their lives more comfortably and easily. There will be no financial obstacles they will ever face if they have millions. I am saying this because in my country as I am not American if I have millions I will be holding a strong financial position.

Every one is going with his own statement I also agree Millionaire can live good life in USA as its very big amount and you can enjoy with many things because its not important you go for every luxury because you want to live in your own limit and you can judge better what is better for you I am not living in USA but still know many cities where you can accommodate and live very good life with this amount