When I did a Yahoo Search for "Incredible Shrinking Millionaire", the top listing (as of today, 10Sept09) is a post by Johannes Ernharth on his Vigilante Investor blog.Here is a brief excerpt...
... In other words, when you watch a classic film from the 1930s or 40s in which the characters are all abuzz over someone being the local “millionaire” of the story, they were talking about someone with a whole heck of a lot more wealth than a comparatively measly $68,000-$81,000. They were talking about someone with 12 to 14 times what a million dollars means today. ...
I guess that means that a million dollars per year cash flow is a better definition for "millionaire" than the old definition of someone with a million dollars worth of assets (although I am still working on the million in assets too).
The difference is that the "million in assets" is now only a milestone on the way to "a million in cash flow" !
Think Cash Flow !
d.Mark "Dave" Wheeler
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