Saturday, May 22, 2010

Fun Millionaire Facts

Many of us aspire to be millionaires, whether it be through an Internet venture or some lucrative real estate investment. There are many ways that you can go about making money, but I just thought that I’d spend a few moments today to discuss a few interesting facts that I found about millionaires in general. Some just may surprise you.

The average age of Forbes’s 400 wealthiest individuals is 63.

What this means is that if you want to rake in the mega bucks, there’s a good chance that it will take you several years to do it. This doesn’t mean that you can’t become a millionaire before the age of 63 — Bill Gates can easily attest to that fact — but it does speak to the demographics of the world’s richest. Whether the increased wealth is due to having more wisdom or simply because they had more years to amass the fortune, well, that’s up for discussion.

There are more than 7 million millionaires in the world.

Guess what? The millionaire’s club isn’t nearly as exclusive as it used to be. Realistically, a million dollars doesn’t go all far anymore. For instance, the average price of a single detached home in Vancouver is over $700,000. Throw in some furniture and a fund to cover some basic expenses and you’re easily into the seven figure mark. If there are more than seven million millionaires in the world, it means that there is about one millionaire for 1000 people. Doesn’t sound that exclusive, does it?

80% of millionaires drive second-hand cars.

Think used cars are only for people who can’t afford new cars? Think again. Millionaires got to where they are today partly because they know where they can save a dollar without having to sacrifice anything. Granted, the second-hand cars of millionaires might cost more than your home, but saving money is saving money. There’s nothing wrong with driving a second-hand car.

If you stack one million US$1 bills, it would be 110m (361 ft) high and weigh exactly 1 ton.

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