ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

What is a Millionaire?

Updated on May 18, 2013

Definition of Millionaire

Many people want to become millionaires. Millionaire Tips is all about giving advice that will help you achieve that goal. Let's first find out the definition of millionaire.

Merriam-Webster dictionary defines a millionaire as follows:

millionaire: a person whose wealth is estimated at a million or more (as of dollars or pounds)

When you look at the definition, it is easy to see that the term is not very precise. The person's estimated wealth will change day to day as the stock market prices change and the demand for their other investments go up and down. In addition, a person who has an estimated worth of a million dollars has a different amount of money than the person who has an estimated worth of a million pounds. This will vary day to day as the currency fluctuates.

It's really okay though, because an approximate number is all we need. Becoming a millionaire is about having a nest egg that makes you secure in your life decisions, and offers you the freedom to do things and take chances that poor people cannot. You can afford to take care of your needs and your reasonable wants, and have enough money to sock away for the future

We should distinguish the millionaires from the billionaires. The billionaires can buy a fleet of private planes and jets and yachts, and have money to spare. Many people admire their lifestyle and dream about having the kind of money. This hub is not about that. Sure it is possible that you could become a billionaire, though not probable. If that is your goal, follow me, and my hubs will provide advice on getting your first million. A millionaire cannot live a billionaire’s lifestyle without going broke. A million dollars is a lot of money, but it can slip through your fingers quickly.

Kinds of Millionaires

There are two different kinds of millionaires. The first kind, the one we mostly hear about, received their money quickly, whether they inherited their wealth, or won the lottery, robbed a bank. These people are not interested in my slow and steady way to become richer day by day. In fact, most of these people are likely to lose their money quickly. They will quit their jobs, have lots of parties, give a great deal of money away, and buy lots of stuff, and eventually they will run out of money. The other kind is the people who earn their million. They took the steps to become millionaires day by day, and they work to preserve their wealth.

How to Become a Millionaire

The people who are reading this hub are the ones who know that becoming rich is a three step process:

  • Earn more money,
  • Spend less money, and
  • Invest the difference wisely.

You are willing to sacrifice a little bit today, in order to accomplish their goal of becoming a millionaire. You have made the decision to become a millionaire, and are willing to take a step in that direction each and every single day. Whether you are currently poor, or well on your way to your first million, you are willing to find ways that will help you achieve your goal faster.

By now, most of us have heard about the book, The Millionaire Next Door. Most millionaires do not look like millionaires. They don't live in fancy houses or drive fancy cars. They have money, and will spend it on the things that matter to them, but they are not interested in showing off their wealth to their neighbors. They want to preserve their wealth. They worked hard for their money, and are careful about spending it on important things instead of letting it fritter away.

Millionaire Tips will provide the guidance to increase revenue, reduce expenses, and invest your savings to help you become a millionaire. It does not mean you will be focusing solely on money. You will be able to continue pursue your hobbies such as quilting or genealogy, and activities such as movie watching. You will enjoy your life as it is currently, secure in the knowledge that you are also safeguarding your future.

Comments: "What is a Millionaire?"

    0 of 8192 characters used
    Post Comment
    • peachpurple profile image


      4 years ago from Home Sweet Home

      thanks for being here millionairetips, with you around, i think i could improve myself

    • Millionaire Tips profile imageAUTHOR

      Shasta Matova 

      6 years ago from USA

      Thank you Pinterestblog. Following your dreams takes a great deal of effort, but it makes life so much more enjoyable.

    • Pinterestblog profile image


      6 years ago from Philippines

      I like this hub! This will definitely inspire other people to pursue there dreams and convert them into reality

    • Millionaire Tips profile imageAUTHOR

      Shasta Matova 

      7 years ago from USA

      You are so right Sinea, the book was very inspiring for me. Instead of following trends it is up to us to determine our own priorities.

    • Sinea Pies profile image

      Sinea Pies 

      7 years ago from Northeastern United States

      The Millionaire Next Door is an eye-opener. Most of them don't LOOK like millionaires on the outside. No yachts parked in their driveways and they drive sturdy cars for years without getting a replacement. Very thrifty people.

    • Millionaire Tips profile imageAUTHOR

      Shasta Matova 

      7 years ago from USA

      Thank you. Becoming a millionaire takes commitment and persistence but it is possible.

    • stephaniedas profile image

      Stephanie Das 

      7 years ago from Miami, US

      This is inspirational. I would like to become a millionaire so that I can live my dreams and spend my time doing things that enrich my life and round me out as a person. Very well written! Voted up.


    This website uses cookies

    As a user in the EEA, your approval is needed on a few things. To provide a better website experience, uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

    For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at:

    Show Details
    HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
    LoginThis is necessary to sign in to the HubPages Service.
    Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
    AkismetThis is used to detect comment spam. (Privacy Policy)
    HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
    HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
    Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
    CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
    Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the or domains, for performance and efficiency reasons. (Privacy Policy)
    Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
    Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
    Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
    Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
    Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
    VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
    PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
    Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
    MavenThis supports the Maven widget and search functionality. (Privacy Policy)
    Google AdSenseThis is an ad network. (Privacy Policy)
    Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
    Index ExchangeThis is an ad network. (Privacy Policy)
    SovrnThis is an ad network. (Privacy Policy)
    Facebook AdsThis is an ad network. (Privacy Policy)
    Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
    AppNexusThis is an ad network. (Privacy Policy)
    OpenxThis is an ad network. (Privacy Policy)
    Rubicon ProjectThis is an ad network. (Privacy Policy)
    TripleLiftThis is an ad network. (Privacy Policy)
    Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
    Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
    Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
    Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
    ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
    Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)
    ClickscoThis is a data management platform studying reader behavior (Privacy Policy)