kristennikco
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Not if you both make under $500,000 per year. If you make $200k and she makes $250k, that's only $450k per year. If you both make over $500k, then you would be banking a million or more per year. |
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Tom S
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If you have a million dollars in equity (assets minus liabilities) then you are a millionaire. |
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imisidro
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It depends on what you mean by 6 figures
If you and your wife earns $100,000 + $100,000 = that's only $200,000
But if you have houses, cars, stocks and other assets that reach $800,000 then you can be considered a millionaire |
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tersey562
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You don't say a number, six figures starts at $100,000 and goes up from there, so no you are not necessarily millionares unless you each earn more than $500,000 and I'd bet that you spend as much as you earn so theoretically you may earn a million dollars a year, but still not be millionaries if you do not have a million dollars in investments and assets. Good luck and God Bless. |
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brettj666
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You are millionaires if your net worth is more than $1,000,000.
If you both make $100,000 a year, but spend $150,000 of it on garbage then, you may never get there. |
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helper
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if you have 1 mil saved. if you spend it as soon as soon as you get it, no, you aren't. |
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eskinic
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Sarcasm aside, you're millionaires if you are worth at least 1,000,000 dollars.
You both could make $100,000 each, so you'd only make $200,000 per year combined. But, it's not how much you make, but how much you're worth, that determines if you're millionaires. |
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Ooh, Ooh pick me
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Technically, you're a millionaire when your total net worth is over a million dollars. Net worth is taking the total value of you assets and subtracting your debt from that amount.
How much you make isn't part of that formula, however if you both have six figure salaries and are saving a large amount of that, you will be millionaires before too long. |
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malibugirl
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It makes you very very rich and very very modest for sharing it with us! ;-) |
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L
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No. You are a millionaire when your net worth exceeds $1M. So if your house is worth $1.5M, and you owe $1M on it, plus you have $500K in the bank, then you would be a millionaire.
EDIT:
BTW PEOPLE! If you earn over a million dollars per year you are still not a millionaire until your net worth exceeds $1M so please stop answering that! |
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Wisdom Seeker
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Well the lowest six figure salary you can earn is $100,000.00. If you and your wife each make this you only gross $200,000 per year before taxes. In this case you are not a millionaire after one year at these two jobs but after five years you both will have earned $1,000,000 before taxes and expenses. (5 x 200,000.00 equals $1,000,000.00). I advise that you save ten percent of your gross income each paycheck in a mutual fund so that the money you do save will grow while you sleep. SAving will keep you motivated to work for those five years that I mentioned above. Also stay away from all credit cards except a bank debit card with a Visa or Mastercard symbol on it. IN that way you do not become enslaved in debt like so many of us have over the years. You should drive cars that are paid in full for as long as you possibly can. You will be able to save more this way. I hope this helps. |
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janet
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yes kinda my only in your head unless you make the six figures with alot of zeros |
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Judy1
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No, but it would give you a chance to become one. To be a millionaire, you'd have to have a million dollars in assets, including cash on hand. If you made six figures each and spent most of it each year, then no you wouldn't be a millionaire. If you saved and invested half of it each year and lived on the other half, you would be within not too many years if you invested wisely. |
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scottish football ....nuff said
 |
everyone's on a six figure salary.....just depends where the . is |
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K-Fresh
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If your six-figure salary is $500,000 and so is hers. Plus if you have assests such as a house, real estate, etc. But then again, if you even have to ask, I would say no. |
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LB
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You have to be worth 1 million to be considered a millionaire, this million can be in any currency and is your net worth (after tax) so add all your assets values and your bank balance and you may be millionaires. Please tell us how you get a six figure salary when you can't add?! ;o) |
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Hammertime
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UHH, NO |
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HollyJ
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To be considered a millionaire, your net worth would have to a million dollars.
Assets - Liabilities = Net Worth
Accounting 101 |
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Roxy m
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nope, not you but I am. |
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Super Bean
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You're definitely better off than me. I'm on a four figure salary. Being a student is a bit rubbish. I'd need like ten of my wages to have the privileges of being near people as rich as you. I am jealous! |
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Tristan S
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If your combined income totals over 1,000,000 then yes.
Otherwise, no. Not till you save up and have a million bucks. |
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indrajeet d
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ONLY MONEY ? |
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phil
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NOOOOOOOOOOOOOOOOOOOO |
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Cautious Norm.
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It makes you thousandaires. |
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Colin Mac
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No |
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Greg S
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How much are you spending? How much do you have in savings and investments? How many properties do you own?
Do you own a business? What are your expenses?
The short answer is probably not. |
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just a girl
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only if you have more than a million bucks...lol... in which case if you do congrats & can I get in on it...lol...( just joking ) |
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Slappy
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no, it means you have obviously conned someone into paying a fool a six figure salary...lol..dumbass..enjoy your money, don't live beyond your means Trump |
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EyesLikeHoles
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Please don't vote. |
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jason k
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in theory you would be wealthy but most likely not rich. |
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wooperpooper
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Er no, your about £800,000 off being one! |
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