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I don't much care what definition anyone uses--I'm more interested in the practical side of things such as, how much money you need to live on and how much you can safely withdraw from your asset base.

That said, I'll take a plunge into this boiling controversy just for fun.

If you accept the notion that the value of your house doesn't count in your asset total to determine if you are a millionaire or not, that leads to the following situation:

Today I have $100,000 in the bank and a paid-off $1M home. I'm not a millionaire.

Tomorrow my house sells and I have $1.1M in the bank and use some of the interest from that to rent an apartment. Today I'm a millionaire while yesterday I wasn't.

Does that make sense?

--fleg, who doesn't really care
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