How much should a person make to be a Millonaire

4 Replies

Originally posted by @Account Closed :

How much should an investor make a month to be called " millonaire"?

 A millionaire has assets that are greater than liabilities by $1,000,000. Taxes take a big chunk of most investor's income. Few make $1,000,000 a year but even then it is highly taxed so you'd have to make much more in a single year to achieve that goal. Most people take several years to reach that goal.

Although helpful the amount of money you make does not make you a millionaire. Time, rate of return and dollar amount invested/debt pay down is what makes one a millionaire. just run the numbers in a financial calculator or spreadsheet. 

The definition of a millionaire is based on your assets, not your earnings.