Comments on: Enough is never enough – are you a Middle-Class Millionaire? http://www.terencechang.com/2008/09/02/enough-is-never-enough-are-you-a-middle-class-millionaire/ A healthy and wealthy journey around the world one city at a time Mon, 30 Jan 2012 15:56:48 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Terence Changhttp://www.terencechang.com/2008/09/02/enough-is-never-enough-are-you-a-middle-class-millionaire/comment-page-1/#comment-4550 Terence Chang Fri, 10 Oct 2008 19:48:54 +0000 http://www.terencechang.com/2008/09/02/enough-is-never-enough-are-you-a-middle-class-millionaire/#comment-4550 @Brett:The bad time means to most of the people is a good time to other people. People are making good money at the bad time. Pick the right niche will put you ahead of others. Thank you for stopping by! @Brett:

The bad time means to most of the people is a good time to other people. People are making good money at the bad time. Pick the right niche will put you ahead of others. Thank you for stopping by!

]]> By: Bretthttp://www.terencechang.com/2008/09/02/enough-is-never-enough-are-you-a-middle-class-millionaire/comment-page-1/#comment-4546 Brett Fri, 10 Oct 2008 15:12:21 +0000 http://www.terencechang.com/2008/09/02/enough-is-never-enough-are-you-a-middle-class-millionaire/#comment-4546 I personally think that we are bottomed out now. Many people are thinking of investing their money now. Hopefully the hysteria will be over soon.http://www.mcintyremedia.com/ I personally think that we are bottomed out now. Many people are thinking of investing their money now. Hopefully the hysteria will be over soon.

http://www.mcintyremedia.com/

]]> By: Danny Cooperhttp://www.terencechang.com/2008/09/02/enough-is-never-enough-are-you-a-middle-class-millionaire/comment-page-1/#comment-4480 Danny Cooper Thu, 25 Sep 2008 11:55:33 +0000 http://www.terencechang.com/2008/09/02/enough-is-never-enough-are-you-a-middle-class-millionaire/#comment-4480 I am by no means wealthy, but I don't believe money will increase my happiness, If I did see money as a goal it would only be because its a comparable metric. I am by no means wealthy, but I don’t believe money will increase my happiness, If I did see money as a goal it would only be because its a comparable metric.

]]> By: Who are you behind the mask? Can money buy happiness? | The Internet Entrepreneur Diaryhttp://www.terencechang.com/2008/09/02/enough-is-never-enough-are-you-a-middle-class-millionaire/comment-page-1/#comment-4414 Who are you behind the mask? Can money buy happiness? | The Internet Entrepreneur Diary Mon, 08 Sep 2008 18:01:06 +0000 http://www.terencechang.com/2008/09/02/enough-is-never-enough-are-you-a-middle-class-millionaire/#comment-4414 [...] is just very interesting that I saw the news after I post Enough is never enough - are you a Middle-Class Millionaire? just few days ago. If you have not read this on MSN Money about 10 secrets that millionaires keep, [...] [...] is just very interesting that I saw the news after I post Enough is never enough – are you a Middle-Class Millionaire? just few days ago. If you have not read this on MSN Money about 10 secrets that millionaires keep, [...]

]]> By: Terence Changhttp://www.terencechang.com/2008/09/02/enough-is-never-enough-are-you-a-middle-class-millionaire/comment-page-1/#comment-4412 Terence Chang Sun, 07 Sep 2008 15:01:02 +0000 http://www.terencechang.com/2008/09/02/enough-is-never-enough-are-you-a-middle-class-millionaire/#comment-4412 @Mark:Happiness is the first thing we all need. Without being happy, money will drag us down.@Noobpreneur:You are right! Rich people knows how to make money work for them. @Mark:

Happiness is the first thing we all need. Without being happy, money will drag us down.

@Noobpreneur:

You are right! Rich people knows how to make money work for them.

]]> By: Noobpreneurhttp://www.terencechang.com/2008/09/02/enough-is-never-enough-are-you-a-middle-class-millionaire/comment-page-1/#comment-4408 Noobpreneur Sat, 06 Sep 2008 09:21:34 +0000 http://www.terencechang.com/2008/09/02/enough-is-never-enough-are-you-a-middle-class-millionaire/#comment-4408 Terence,"Money change your life style - your life style is never the same. It will be really hard to go back." - pretty darn right!IMO, it's all about financial education - Suppose you make $500 a month and spend all that $500. Without proper financial education, should you make $50,000 a month, you will likely to spend that $50,000...What makes a person rich is his/her financial education.My 2 cents :) Terence,

“Money change your life style – your life style is never the same. It will be really hard to go back.” – pretty darn right!

IMO, it’s all about financial education – Suppose you make $500 a month and spend all that $500. Without proper financial education, should you make $50,000 a month, you will likely to spend that $50,000…

What makes a person rich is his/her financial education.

My 2 cents :)

]]> By: markhttp://www.terencechang.com/2008/09/02/enough-is-never-enough-are-you-a-middle-class-millionaire/comment-page-1/#comment-4405 mark Fri, 05 Sep 2008 01:01:18 +0000 http://www.terencechang.com/2008/09/02/enough-is-never-enough-are-you-a-middle-class-millionaire/#comment-4405 Hey Terence - very nice post! I must say, I am a VERY long way away from being a millionaire but I am quite happy. :) And at the end of the day I think that is more important... Hey Terence – very nice post! I must say, I am a VERY long way away from being a millionaire but I am quite happy. :) And at the end of the day I think that is more important…

]]> By: Terence Changhttp://www.terencechang.com/2008/09/02/enough-is-never-enough-are-you-a-middle-class-millionaire/comment-page-1/#comment-4404 Terence Chang Thu, 04 Sep 2008 20:00:57 +0000 http://www.terencechang.com/2008/09/02/enough-is-never-enough-are-you-a-middle-class-millionaire/#comment-4404 @Aaron:Great thanks for the good example. For many rich people, spending 25K/month may be a way to make 250K/month. Without staying in the club, you get no chance to stay in the game. A good balance between the risk of investment and static income of your paycheck or bank account interest is one way to generate cash flow and to make rich people richer. @Aaron:

Great thanks for the good example. For many rich people, spending 25K/month may be a way to make 250K/month. Without staying in the club, you get no chance to stay in the game. A good balance between the risk of investment and static income of your paycheck or bank account interest is one way to generate cash flow and to make rich people richer.

]]> By: Terence Changhttp://www.terencechang.com/2008/09/02/enough-is-never-enough-are-you-a-middle-class-millionaire/comment-page-1/#comment-4403 Terence Chang Thu, 04 Sep 2008 19:47:00 +0000 http://www.terencechang.com/2008/09/02/enough-is-never-enough-are-you-a-middle-class-millionaire/#comment-4403 @Noobpreneur:Thank you for stopping by. Let's assume that all the rich people are really good at their cash flow. We are not talking about the people who just has sudden fortune. We are talking about those rich people who work really hard and get lucky to make fortune. We are talking about those people who are good at managing money wisely.They know they are rich. They just don't feel rich enough. The fear is that they don't have enough money to do things that most of us don't even dream of. For example, the girl in the video, who has 10 million dollars in her bank account. She met other rich people and ask them how they spend their money. The answer she got is to buy a private jet. Yup! It will be nice to have a private jet that can take you to anywhere you want. However, she will be broke if she buy the private jet. She doesn't have enough money to enjoy the life style with a private jet. She is very poor in the rich society. She is still richer than most of people on earth though.<b>What's the benefit of being rich?</b><ul> <li>Money is power! - You can do a lot of things when you have money!</li> <li>Money generate unequal opportunities - the more money you have, the better chances you will get new deal signed.</li> <li>Money make you an evil person - the more you have, the more you will want</li> <li>Money change your life style - your life style is never the same. It will be really hard to go back.</li> </ul>Well. We all know that money is not everything. It's up to you to spend your money wisely. Money do not make you a better person! Money produce hate within families. Money break your friendship when it gets ugly. Money creates crime when people are so desperate about it.Money means a lot to those who have it and use it wisely. And money means nothing if you don't have it. @Noobpreneur:

Thank you for stopping by. Let’s assume that all the rich people are really good at their cash flow. We are not talking about the people who just has sudden fortune. We are talking about those rich people who work really hard and get lucky to make fortune. We are talking about those people who are good at managing money wisely.

They know they are rich. They just don’t feel rich enough. The fear is that they don’t have enough money to do things that most of us don’t even dream of. For example, the girl in the video, who has 10 million dollars in her bank account. She met other rich people and ask them how they spend their money. The answer she got is to buy a private jet. Yup! It will be nice to have a private jet that can take you to anywhere you want. However, she will be broke if she buy the private jet. She doesn’t have enough money to enjoy the life style with a private jet. She is very poor in the rich society. She is still richer than most of people on earth though.

What’s the benefit of being rich?

  • Money is power! – You can do a lot of things when you have money!
  • Money generate unequal opportunities – the more money you have, the better chances you will get new deal signed.
  • Money make you an evil person – the more you have, the more you will want
  • Money change your life style – your life style is never the same. It will be really hard to go back.

Well. We all know that money is not everything. It’s up to you to spend your money wisely. Money do not make you a better person! Money produce hate within families. Money break your friendship when it gets ugly. Money creates crime when people are so desperate about it.

Money means a lot to those who have it and use it wisely. And money means nothing if you don’t have it.

]]> By: Aaronhttp://www.terencechang.com/2008/09/02/enough-is-never-enough-are-you-a-middle-class-millionaire/comment-page-1/#comment-4402 Aaron Thu, 04 Sep 2008 19:36:59 +0000 http://www.terencechang.com/2008/09/02/enough-is-never-enough-are-you-a-middle-class-millionaire/#comment-4402 I agree - It's all about cash flow. Robert Kiyosaki (of the ‘Rich Dad Poor Dad’ book series) makes the distinction that not everything that is called an asset is really an asset. The example he uses is that a house is generally considered an asset but since it takes away from our cash flow (through mortgage payments, property tax, maintenance, etc.) it is more of a liability. If you are a millionaire and have many of these 'assets' eating in to your cash flow there won’t be a lot of disposable cash at the end of the month, which I could see easily leading to feeling insecure. As you mention in your article, imagine having to pay 25K/month for a club membership! That’s one expense I could easily live without. I agree – It’s all about cash flow. Robert Kiyosaki (of the ‘Rich Dad Poor Dad’ book series) makes the distinction that not everything that is called an asset is really an asset. The example he uses is that a house is generally considered an asset but since it takes away from our cash flow (through mortgage payments, property tax, maintenance, etc.) it is more of a liability. If you are a millionaire and have many of these ‘assets’ eating in to your cash flow there won’t be a lot of disposable cash at the end of the month, which I could see easily leading to feeling insecure. As you mention in your article, imagine having to pay 25K/month for a club membership! That’s one expense I could easily live without.

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