While enjoying my labor day long weekend at resort in Tucson, AZ, I saw the Untold Wealth Serial TV show on CNBC. I felt that I am one of them – the middle class millionaire. The poor people in the millionaire club.
Enough is never enough!
If you have not seen the untold wealth videos, you should take a look at them. It’s very interesting and very motivational to me. According to the report, there are more than 9 million millionaires in the USA. 49,000 U.S. households have a net worth between $50 million and $500 million. However, many of them don’t feel rich at all.
In the Middle-Class Millionaires video, a millionaire, who has 10 million dollar net worth asset, don’t feel secure and rich at all. She has to work 12 hours a day in order to stay rich. That is very interesting. Even more interesting is that many billionaires keeps buying new toys and invest more business in order to keep their life style and to avoid feeling poor. They are already very rich.
Money is not what they are going after.
It’s very easy for them to say so. With billion dollars in their bank account, living cost is no longer a concern. It’s the challenge that moves them forward. The challenges they are going after are to achieve bigger goals. The end result will bring them more money. Those challenges are not something that money can buy. However, they have so much money that make the challenges smaller.
There is also one funny fact why middle class millionaire don’t feel rich at all? Many people thought millionaire are living in the heaven and have a very nice apartment on the top of the building facing New York Central Park. Now those millionaire are no longer able to afford the apartment. Those are taken by the billionaire. So the middle class millionaire felt broke.
There are also many millionaire clubs require to have $100K application fee and $25K monthly membership fee to stay in the club for luxury travel. This does not include the cost of traveling, private jet and private resorts, etc. So if you are millionaire, do you feel rich enough to be a millionaire? I guess not!
One common character that millionaire and billionaire have are this. They are not worry about how much they spent to buy things. They are focusing on achieving the bigger goals that will bring them more money.
What have I learned?
I should focus on the challenge and achieve them. If money is not my concern at the moment, I should take that as my strength, advantage over other competition and reach my goal as soon as I can.