Columbus Day / Indigenous Peoples Day

Columbus Day / Indigenous Peoples Day

Columbus Day is a national holiday in many countries of the Americas and elsewhere which officially celebrates the anniversary of Christopher Columbus's arrival in the Americas on October 12, 1492 (Julian Calendar; it would have been October 21, 1492 on the Gregorian Proleptic Calendar, which extends the Gregorian Calendar to dates prior to its adoption in 1582).

Christopher Columbus was an Italian explorer who set sail across the Atlantic Ocean in search of a faster route to the Far East only to land at the New World. His first voyage to the New World on the Spanish ships Santa María, Niña, and La Pinta took approximately three months.

Columbus and his crew's arrival to the New World initiated the Columbian Exchange which introduced the transfer of plants, animals, culture, human populations, and technology (but also invasive species, including communicable diseases) between the new world and the old.

The landing is celebrated as "Columbus Day" in the United States but the name varies on the international spectrum. In some Latin American countries, October 12 is known as "Día de la Raza" or (Day of the Race).

This is the case for Mexico, which inspired Jose Vasconcelos's book celebrating the Day of the Iberoamerican Race. Some countries such as Spain refer the holiday as "Día de la Hispanidad" and "Fiesta Nacional de España" where it is also the religious festivity of la Virgen del Pilar.

Peru celebrates since 2009 the "Day of the original peoples and intercultural dialogue". Belize and Uruguay celebrate it as Día de las Américas (Day of the Americas). Since Argentina's former president Cristina Fernández de Kirchner officially adopted "Día del Respeto a la Diversidad Cultural" (Day of Respect for Cultural Diversity) November 3, 2010. "Giornata Nazionale di Cristoforo Colombo or Festa Nazionale di Cristoforo Colombo" is the formal name of Italy's celebration as well as in Little Italys around the world.

Celebration of Christopher Columbus's voyage in the early United States is recorded from as early as 1792. The Tammany Society in New York City  (for whom it became an annual tradition) and the Massachusetts Historical Society in Boston celebrated the 300th anniversary of Columbus' landing in the New World.

President Benjamin Harrison called upon the people of the United States to celebrate Columbus's landing in the New World on the 400th anniversary of the event.

President Benjamin Harrison proclaimed it as a one-time national celebration in 1892 — in the wake of a bloody New Orleans lynching that took the lives of 11 Italian immigrants. The proclamation was part of a broader attempt to quiet outrage among Italian-Americans, and a diplomatic blowup over the murders that brought Italy and the United States to the brink of war.

During the anniversary in 1892, teachers, preachers, poets and politicians used rituals to teach ideals of patriotism. These rituals took themes such as citizenship boundaries, the importance of loyalty to the nation, and the celebration of social progress.

Many Italian-Americans observe Columbus Day as a celebration of their heritage, and the first such celebration was held in New York City on October 12, 1866. The day was first enshrined as a legal holiday in the United States through the lobbying of Angelo Noce, a first generation Italian, in Denver.

 The first statewide holiday was proclaimed by Colorado governor Jesse F. McDonald in 1905, and it was made a statutory holiday in 1907.

In April 1934, as a result of lobbying by the Knights of Columbus and New York City Italian leader Generoso Pope, Congress and President Franklin Delano Roosevelt proclaimed October 12 be a federal holiday under the name Columbus Day.

To continue reading, please go to the original article here:

https://en.wikipedia.org/wiki/Columbus_Day

The Truth Explained About Columbus Day

The Truth Explained About Columbus Day

Matthew Rozsa  October 14, 2019

Christopher Columbus is a historical figure celebrated as a mythical hero in spite of his genocidal and racist past.  There are many good reasons as to why Columbus Day is such a controversial holiday.

Like Andrew Jackson, Christopher Columbus is a historical figure who is celebrated as a mythical hero in the U.S. in spite of his genocidal, racist and pro-slavery legacy. As a result, a movement exists to replace the national holiday known as Columbus Day with Indigenous People’s Day.

Here is the truth about Columbus Day, explained:

1. Christopher Columbus enslaved the Taínos he encountered in the present-day Bahamas

When Columbus “discovered” the American continents in 1492 — millions lived there long before Europeans learned of their existence — he encountered a civilization of people known as the Taínos.

By his own description, they were curious and friendly, eager to help the new group of people who had landed on their shores. 

Over time, Columbus enslaved and exploited them, thereby establishing a precedent wherein Europeans would come to the American continents, exploit natives and steal their land.

His actions also laid the foundations for the Europeans to introduce African slavery to the American continents, and Columbus is known to have had an African slave with him on his so-called voyages of discovery.

2. Columbus Was Also A Tyrant, Generally Speaking

After becoming governor and viceroy of the Indies, Columbus let the power to go to his head, becoming a brutal autocrat who was eventually loathed by his own followers. When one man was caught stealing corn, Columbus responded by having his nose and ears cut off before selling him into slavery.

When a woman claimed that Columbus was of lowly birth, his brother Bartolomé cut out her tongue, stripped her naked and had her paraded around the colony on the back of a mule.

And these are just two examples of many. Eventually, the Spanish monarchs realized that Columbus had become power mad and ordered him and his brothers to return to Spain. He never regained his power, although his freedom was eventually restored.

To continue reading, please go to the original article here:

https://www.salon.com/2019/10/14/the-truth-about-columbus-day-explained/

Don't Stop Believin' By Dr. Dinar

Don't Stop Believin'   by Dr. Dinar

Welcome to the middle of October, 2019. The year that should've never been.

The year this GCR rollout would never see the beginning of Summer.

Let alone the end of Summer, rolling into Fall.

No way... no how.

Sure, we heard it was gonna be a slow rollout but c'mon, this is beyond ridiculous.

This slowwwwww rollout is rolling slower than a snail moonwalking backwards, uphill, in the snow.

Slow to the point of thinking it's not actually happening at all.

And for many among us, like it's never gonna happen.

Yeah, we continually hear rumors of all the things supposedly going on behind the scenes and yet, never actually seeing the results of any of those things actually taking place in real life, only adds to the feeling of nothing happening.

I recently received an email update of current going's on in Dinarland and despite one or two keywords here and there, it very well could've been posted in 2009.

Same redundant rumors reimagined for a new-ish crop of currency holders.

And honestly, it kinda freaked me out for a second.

Why on earth would they think we'd still fall for that stuff.

Do they really believe we haven't learned anything whatsoever. I certainly hope not.

I mean, I'd hate to think we haven't gained any ground on the knowledge front in all this time.

After all, we've all had plenty of time to review our notes.

Yes, the landscape has changed, as well as the overall mission.

But the basic game... not so much.

C'mon, don't we deserve better. A little somethin' for the effort.

The least they could do is add a little more trickery, a bit more color to the smoke they're constantly blowin' our way, helping to keep us mushrooms slightly more entertained while we attempt to stumble our way around in the dark..

I'd like to think that they think that we think we've learned something along the way.

They were regurgitating old articles a decade ago. Rinse and repeat.

Isn't it about time they came up with something new.

We've been through more than enough Blue Moons and 3 day weekends and Ramadan's and Black Friday's and ends of quarters and Crazy 8's than even the most superstitious among us can handle. And still nothing.

Nothing tangible. Nothing we can use as a "See, I told you this was real." for all of our doubting family and friends to see.

Not that we need to prove anything to them.

Nope. We did our homework and we know it's real.

Or at least we think we know it's real.

Okay, let's just say we still believe it's real-ish, with a good chance that it very well could be real.

And maybe that's all we get.

Maybe that's all we have to hang on to. Our beliefs.

Our belief in the unseen. The unprovable.

Looking back, that's pretty much the same feeling I had when I first got involved in this made for TV journey.

I really hoped it was real.

Although I must admit that I was a heckuva lot more excited way back when than I am now.

Hearing the screeching brakes of the Fed Ex truck as it pulled up in front of the house totally gave me the warm 'n fuzzies.

The sheer relief I felt knowing my recently ordered dinar arrived just in time to beat the pending last minute RV deadline was a big time rush to say the least.

Unfortunately, after a decade of being imminently ever so close, my excitement level has dropped considerably.

Same with my expectation level. It's dropped accordingly.

When I first bought in the rampant rumors of a $0.10 IQD RV emanating throughout Dinarland was a dream come true.

Sounds insanely lame now but think about it.

I'd just lost everything I owned in the R.E. market crash and somehow the Universe saw fit to introduce me to the RV of the IQD.

Talk about timing, you couldn't have scripted it any better.

Matter of fact, I'd lost more than everything because I still owed on things I no longer owned.

Call it desperation but at that point I really had next to no hope of resurrecting my life otherwise. Not any time soon anyway.

However you choose to look at it, the possibility of renting a Condo and leasing a new car post RV were simply impossible to ignore.

After all, I no longer had either, so let's just say the timing was pretty much spot on.

And with that foundation of hope, I gratefully jumped in with every last nickle I had.

Combined with the belief that I would be there at the finish line when the RV was released in the next couple weeks, guaranteed I'd be one of the lucky few.

The few believers that took a chance on that too good to be true so called scam known as the RV of the Iraqi dinar.

Yes, over the years, armed with much more knowledge in the form of a GCR, I've come to believe in a much higher rate.

Along with that, the size of my dreams have increased as well. To the point of allowing myself to dream of a large home, fully paid off, along with helping family and friends fulfill some of their needs as well.

But as time has gone on I've been subjected to situations that have forced me to sell back most of my currency, all in the name of survival.

After all, if I'm not there at the finish line, then nobody wins.

But one thing I will never do is give up and sell out completely.

Doing that only ensures that neither I nor the ones I hope to help will ever reap the rewards of this seemingly never ending journey.

Please remember that no matter how long you've been involved, and how brutal this journey can be at times, you're still one of the fortunate few.

The few lucky enough to even know about this once in a lifetime life changing event.

Whether it happens next week, next month or next year, the one thing we know for certain is that eventually it will happen.

It has to. Many countries, including ours, are depending on it.

Eventually Iraq will be released from the program rate and those of us holding dinar will finally go on to do all of our long dreamed of good deeds.

I've come too far to turn back now and I can only hope you feel the same way.

Hang in there folks, we're getting closer with each passing day.

Sincerely,

Dr. Dinar

Funny, Short and Inspirational Retirement Quotes:

Funny, Short and Inspirational Retirement Quotes:

I have compiled a good number of words of wisdom or better, what I like to call the best retirement quotes that will brighten your day.

This list of retirement quotes has been compiled from various people whose words of wisdom couldn’t go unnoticed.

Inspirational Retirement Quotes

Here are some of the most popular inspirational quotes on retirement that you should read before retiring as well as after.

1. “Just because you are getting older and have retired doesn’t mean that you should have less confidence in your abilities. Think about the experience and knowledge that you have gained by all the years you have worked” -Theodore W. Higginsworth

2. “Retirement: It’s nice to get out of the rat race, but you have to learn to get along with less cheese.” – Gene Perret

3. “Planning to retire? Before you do, find your hidden passion. Do the thing that you have always wanted to do.” – Catherine Pulsifer

4. “Age is only a number, a cipher for the records. A man can’t retire his experience. He must use it. Experience achieves more with less energy and time.” – Bernard Baruch

5. “Every new beginning comes from some other beginning’s end.” – Lyrics from “Closing Time” by Semisonic

6. “What does retirement mean now that there are so many opportunities for learning, for caring, for serving? We can redefine aging.” – Rachel Cowan, Wise Aging

7. “Retirement is a new beginning, and that means closing the book on one chapter to begin the next.” Sid Miramontes, Retirement: Your New Beginning

8. “Retirement gives you the time literally to recreate yourself through a sport, game, or hobby that you always wanted to try or that you haven’t done in years.” – Price, Stephen D.

9. “Shall the day of parting be the day of gathering? And shall it be said that my eve was in truth my dawn?” by Kahlil Gibran

10. “There is a whole new kind of life ahead, full of experiences just waiting to happen. Some call it ‘retirement.’ I call it ‘bliss.’” – Betty Sullivan

11. “Dare to live the life you have dreamed for yourself. Go forward and make your dreams come true” – Ralph Waldo Emerson

12. “Don’t simply retire from something; have something to retire to.” – Harry Emerson Fosdick

13. “Preparation for old age should begin not later than one’s teens. A life which is empty of purpose until 65 will not suddenly become filled on retirement.” – Arthur E. Morgan

14. “You are never too old to set a new goal or dream a new dream.” – C.S. Lewis

15. “What we call the beginning is often the end. And to make an end is to make a beginning. The end is where we start from.” – T.S. Eliot

16. “Retirement is not a life without purpose; it is the on-going purpose that provides meaningfulness” – Robert Rivers

17. “Retirement is …. a time to experience a fulfilling life derived from many enjoyable and rewarding activities.” – Ernie J. Zelinski

18. “If we had no winter, the spring would not be so pleasant; if we did not sometimes taste of adversity, prosperity would not be so welcome.” – Anne Bradstreet

To continue reading, please go to the original article here:

https://millionairemob.com/retirement-quotes/

What Are Special Drawing Rights (SDR)?

Special Drawing Rights (SDR)

Reviewed By Will Kenton   Updated Apr 7, 2019

What Are Special Drawing Rights (SDR)?

Special drawing rights (SDR) refer to an international type of monetary reserve currency created by the International Monetary Fund (IMF) in 1969 that operates as a supplement to the existing money reserves of member countries.

Created in response to concerns about the limitations of gold and dollars as the sole means of settling international accounts, SDRs augment international liquidity by supplementing the standard reserve currencies.

An SDR is essentially an artificial currency instrument used by the IMF, and is built from a basket of important national currencies.

The IMF uses SDRs for internal accounting purposes. SDRs are allocated by the IMF to its member countries and are backed by the full faith and credit of the member countries' governments. The makeup of the SDR is re-evaluated every five years. The current makeup on the SDR is represented by the following table:

Currency         Weights Determined in the 2015 Review   Fixed Number of Units of Currency  

                                                         5-Year Period Starting Oct 1, 2016                                                                                 

U.S. Dollar                            41.73                                                       0.58252

Euro                                      30.93                                                       0 .38671

Chinese Yuan                       10.92                                                        1.0174

Japanese Yen                         8.33                                                      11.900

Pound Sterling                       8.09                                                       0.085946

​Understanding SDR

 The SDR was formed with a vision of becoming a major element of international reserves, with gold and reserve currencies forming a minor incremental component of such reserves.

 To participate in this system, a country was required to have official reserves. This consisted of central bank or government reserves of gold and globally accepted foreign currencies that could be used to buy the local currency in foreign exchange markets to maintain a stable exchange rate.

Key Takeaways

 Special drawing rights, or SDR, are an artificial currency instrument created by the International Monetary Fund, which uses them for internal accounting purposes.

 The value of the SDR is calculated from a weighted basket of major currencies, including the U.S. dollar, the euro, Japanese yen, Chinese yuan, and British pound.

The SDR interest rate (SDRi) provides the basis for calculating the interest rate charged to member countries when they borrow from the IMF and paid to members for their remunerated creditor positions in the IMF.

To continue reading, please go to the original article here:

https://www.investopedia.com/terms/s/sdr.asp

Email Newsletter Technical Difficulties

Good Evening Readers -- Due to technical difficulties there will not be a 6 PM email newsletter sent out to subscribers on FRIDAY October 4th  - We are very sorry  and do apologize  -- All of our posts can be accessed and enjoyed by just going to The Blog – Thank you for your understanding and we will resume sending on Saturday morning.

The Dinar Recaps Team

What Is The Difference Between Rich And Wealthy?

What Is The Difference Between Rich And Wealthy?

Personal Finance - Millionaire Mob - March 8, 2019

 Difference Between Rich and Wealthy

 Is there a difference between a rich person and a wealthy person?

In this article, we will differentiate between rich and wealthy.

 What is the Difference between Rich and Wealthy?

 Most people use the two terms rich and wealthy interchangeably. But, do they mean the same thing? There is a difference between rich and wealthy.

In this article, we will focus on some of the significant differences between rich and wealthy

 So, who has more money between wealthy and rich people? Before we look at the main differences between the rich and wealthy, let’s first look at the definition of rich and definition of wealthy.

  Definition Of Wealthy

 Wealthy is a term defined as the number of days that a person can sustain their existence without having to work. The wealthy make money doing nothing and can maintain their standard of living during their life without physically working or anyone in their household physically working.

 What matters to the wealthy is not how much money they make, but rather how much money they keep as well as how long that money can work for them.

 Can your wealth sustain you and pay for all of your bills for the rest of your life. Can you eat, drink, and travel the world without having to worry about how you will meet all these expenses?

 The wealthy do not only have lots of money, but they also don’t worry about money. They can afford all their basic as well as a luxurious lifestyle with no money worries. The wealthy generate a lot of residual income, and their money keeps growing exponentially.

 Money works for them and not the other way round. They have excess to keep them going and doing what they want as long as they want and their money does not get diminished. They have infinite wealth.

 There are only a few wealthy people around the world. Most of these people were born in wealthy families, and the much they do about it is to maintain their status. However, there is no definite measure of wealthy and different people have varying perceptions on the issue.

 Attributes of the Wealthy

 Here are some of the characteristics of the wealthy:

 Money works for them and is continually invested through fractional share investing

 They have accumulated enough money that will likely never run out for the rest of their life

 They have created multiple passive income sources

 So, let’s have a look at some interesting research findings of the lifestyle of the wealthy people according to a specific group of people.

Research findings on what people believe it means to be wealthy

 Here are some thought-provoking results in the survey about what being wealthy meant for different people. While 62% of people said that being wealthy means spending time with family, 55% alleged it as having time to oneself. 49%, on the other hand, believed it means owning a home, and 41% said it means eating out or having meals delivered to you by Uber.

 A 33% thought that if you’re wealthy, then you can afford the cable, subscription services like Netflix movie/TV and music streaming and 27% said it means owning the latest tech gadgets. 17% held it means having a gym membership or a personal trainer and 12% said it is means using a home cleaning service.

 Almost half of the people who were surveyed believed that to achieve the definition of wealth; one must save and invest money in the right investment vehicles to reap the benefits of compound interest.

Definition of Rich

 The rich can be defined as people who have a lot of money which is a characteristic similar to the wealthy. A difference between wealthy and rich is that unlike the wealthy that have a lot of money and fewer expenses, the rich have a lot of money with many financial liabilities and expenses to meet.

 Unlike the wealthy, the rich have many bills to pay, and they generally worry about money. Most of the income of the rich end up in the expenses column and not much end up on the assets column. This behavior differentiates the rich vs. wealthy.

 Unlike the wealthy that can exist for the rest of their life without worrying about money, the rich worry about several things related to money. They worry about their jobs and businesses as well as how to maintain and manage them to sustain their lifestyle.

 The rich can afford all the essentials as well as the luxuries of life, but they must also ensure that their businesses and investments are still running well and the right systems are in place to avoid collapse.

​Unlike the wealthy that have enough money at their disposal and don’t have to work to afford luxuries, the rich work and some have even gotten into debts to afford the fine things in life.

 A lot of rich people have acquired their money through hard work, and only a few inherited their money. Most rich people must work or get employed to seek the money that they need to maintain their lifestyle. ​

To continue reading, please go to the original article here:

https://millionairemob.com/difference-between-rich-and-wealthy/

The Worst Things About Being a Millionaire

The Worst Things About Being a Millionaire

Kiplinger's Personal Finance | June 14, 2018 Updated for 2019

Who wants to be a millionaire? The more intriguing question would be, “Who doesn’t?” For most people, a million smackers conjures up images of vacations on the Riviera, Arabian racehorses and mattresses stuffed with freshly ironed $20 bills.

But being a millionaire today isn’t all it’s cracked up to be. Low interest rates and high living costs mean a million bucks in the bank doesn’t necessarily allow you to retire at 35, 45, 55 or even 65.

 What’s worse, today’s million dollars comes with all the burdens of wealth: greedy relatives, rapacious lawyers and grasping investment advisers.

A Million Isn’t What It Used to Be

Financial advisers say a sustainable annual withdrawal from retirement savings is 4%. With a million-dollar nest egg, a 4% draw-down means annual income of $40,000. And that’s before taxes. If you stick with the 4% withdrawal rate and earn an average 8% on your money annually, you’ll be in good shape for the long run.

But can you really live on $40,000 a year? Most millionaires don’t want to. “If you are 45, 50, 55 years old and spend like a millionaire, then you are doing two things with your money that may well not work for you long term,” says Tom Davison, a financial planner in Columbus, Ohio.

“The first is not saving extra dollars now, and the second is establishing a lifestyle cost that, for most people, will be hard to cut back on later.”

That being the case, let’s say you pull $100,000 a year from your savings, you earn 8% a year, and you don’t adjust upward for inflation. Here’s how your account would fare: at the end of Year 1, you'd have $972,000 left; Year 5, $835,735; Year 10, $594,376; Year 15, $239,741; and Year 18, $0. Yup — broke in retirement.

To continue reading, please go to the original article here:

https://www.kiplinger.com/slideshow/investing/T052-S001-the-worst-things-about-being-a-millionaire/index.html

.How Anti-Fragile Are You?

Notes From The Field By Simon Black

September 24, 2019   Bahia Beach, Puerto Rico

How Anti-Fragile Are You?

I arrived back home to Puerto Rico late last night after traveling back from our Total Access event in Las Vegas.

It was probably around 11:15 pm when I climbed into bed. And, within minutes, just as the sound of the waves outside was carrying me off to sleep, the whole house started violently shaking.

It turned out to be a magnitude 6.0 earthquake, about 20 miles off the west coast of the island.

I lived in Chile for seven years before this-- one of the world’s earthquake capitals-- so I’m no stranger to seismic activity.

But earthquakes are EXTREMELY rare in Puerto Rico… as in, they almost NEVER happen. People simply do not expect them.

Hurricanes, tropical storms, etc., sure, those are common occurrences here.

And you might remember that Puerto Rico was almost wiped out from 2017’s Hurricane Maria. It devastated the island and much of the Eastern Caribbean, and two years later they still haven’t recovered.

Today there’s supposed to be some Tropical Storm coming through, which, by comparison to Hurricane Maria, is barely a bit of drizzle.

But the government here is on pins and needles, and so anxious to show that they’re ready for anything that they closed schools, many government offices, and even called up the National Guard…

I can’t help but feel bad for them. They’re so scarred from Hurricane Maria two years ago that they overreact in desperation at the first warning sign of a storm.

And then, in an instant, something completely unexpected happened: Puerto Rico was hit with a 6.0 earthquake, and the government has no idea how to react.

I need to caveat all this by saying I really love Puerto Rico. Moving here last year was a great decision. And though I’ve long praised the island’s unparalleled tax incentives, what keeps me living here is the lifestyle.

To continue reading, please go to the original article at

https://www.sovereignman.com/trends/how-anti-fragile-are-you-25620/

To your freedom & prosperity, Simon Black Founder, SovereignMan.com

.Money Can Kind Of Buy Happiness After All

Money Can Kind Of Buy Happiness After All

By Kelsey Piper  Sep 23, 2019, 8:00am EDT

It turns out money can kind of buy happiness after all

A new paper argues that, actually, winning the lottery totally does make you happy.

Does winning the lottery even make you happier? For a long time, researchers said no. Research hadn’t found any conclusive evidence that people who won large sums of money were happier afterward. There was even some evidence they were worse off.

This fact became widely known, partially because it’s so appealing to many people. It’s nice to think that life satisfaction isn’t just about how much money you have, that other things matter more, that we can’t solve all our problems with a sudden infusion of cash.

But there’s a problem with that research: It’s probably wrong. At least, that’s what is argued by economists Andrew J. Oswald and Rainer Winkelmann at the University of Warwick in the new academic book The Economics of Happiness.

Their chapter in the book makes the case that past research about the lottery was badly designed, which is why it found the counterintuitive conclusion that lottery winnings don’t make us happy, instead of the much more boring truth: They totally do.

Economists have good reason — beyond just curiosity — to care whether lottery winners are happier than the rest of us. Lottery winners represent a great chance to explore whether increases in income make people happier.

We know that there’s a well-established association between higher income and happiness, but it can be tricky to say for sure that it’s the higher income that causes happiness.

 Maybe happier people earn more money, or depressed people tend to earn very little money, or people with some general quality of life successfulness will be both happy and rich.

Lottery winners are selected at random, so they can help answer this question for us: Does money cause happiness?

Here’s what we know about the effects of lottery winnings

The first paper to take a serious look at the happiness of lottery winnings was a 1978 paper by Philip Brickman and colleagues, titled “Lottery winners and accident victims: Is happiness relative?”

To continue reading, please go to the original article at

https://www.vox.com/future-perfect/2019/9/23/20870762/money-can-buy-happiness-lottery

.How Much Money Do You Need To Feel Wealthy?

How Much Money Do You Need To Feel Wealthy?

By RETIREBYFORTY

Last time, I asked – Can YOU become a millionaire? Incredibly, 95% of voters picked yes. That’s awesome, I love it! It really isn’t that hard to become a millionaire in the U.S. if you make at least a median household income of $60,000/year. You just have to commit to saving and you’ll get there.

The point of the previous post was for you to pick yes. Unfortunately, a million dollars doesn’t go as far as it used to. Most people don’t even consider a million dollars wealthy anymore. So how much money do you need to feel wealthy? Let’s check it out.

*This post was originally written in 2013. I’ve updated and expanded it with the latest info. I hope you enjoy this one.

How much money do you need to feel wealthy?

$3 million+                (28%, 555 Votes)

$5 million+               (26%, 529 Votes)

$10 million+             (29%, 579 Votes)

$100 million!!!         (7%, 147 Votes)

2-3 times what you have now (3%, 69 Votes)

Total Voters: 2,007

Wealth Isn’t All About Money

Of course, wealth isn’t all about money. Health, relationships, freedom, and happiness are all integral parts of wealth. Money won’t make you feel wealthy if you’re missing some of these. When asked about wealth in Charles Schwab’s 2018 Modern Wealth Index survey, two of the top three answers weren’t related to money.

Wealth Not All About Money

Those things are more difficult to measure, though because they are all subjective. We all have different definitions of happiness. My happiness doesn’t necessarily match yours.  

In fact, I think the pursuit of happiness is misguided. We can’t measure those other things, so we’ll just focus on the money today. It’s way easier to figure out net worth than happiness.

When asked to focus on just the money, respondents said it takes $2.4 million to be considered wealthy.

I Don’t Feel Wealthy

Really, $2.4 million? That seems a tad low to me. Our net worth is over that line and I don’t feel rich at all. The problem is the survey is meant to be representative of the US population.

That means most of those surveyed are not millionaires. $2.4 million sounds like a lot of money to regular people, but millionaires don’t consider that wealthy.

Being wealthy is actually a moving target. It turns out most people need twice or more of their current net worth to feel wealthy. If someone is worth $5 million, they would say wealthy means $10 million. That’s pretty funny, isn’t it?

The 2x wealth corollary is pretty much spot on for me. When I wrote this in 2013, our net worth was about $1.5 million. I thought we’d feel wealthy when our net worth reaches $3 million.

Today, I think $3 million is merely comfortable, not wealthy. Like I said, it’s a moving target. However, I’m pretty sure I’ll feel wealthy when we hit $5 million…

UBS Wealth Study

To back up my $5 million = wealthy theory, here is a wealth study from UBS in 2013. It’s a bit older, but investors agreed that wealth isn’t just about having a certain amount of money.

The majority of investors define wealth as having no financial constraints on what they do. But when asked to assign a dollar amount to being wealthy, they say it takes $5 million.

This study targeted investors so the results skewed a bit higher. Investors surveyed were older than 25 years old and have at least $250,000 in investable assets; half have at least $1 million in investable assets. This group is doing a lot better than the average American household.

To continue reading, please go to the original article at

https://retireby40.org/how-much-money-feel-wealthy/