Honolulu Millionaires!

[LikaNui]

12-1/2% of all Honolulu residents are millionaires?!:

"Honolulu is 10th nationally in terms of the percentage of millionaire households, according to Kiplinger.com, the Web site of Kiplinger's personal finance magazine. The site said 12.5 percent of households here are occupied by (millionaires)"


The full story is on the Advertiser's website here.

[Glen Miyashiro]

Re: Honolulu Millionaires!

Yeah, that's cuz even owning your own home could make you a millionaire here.

[LikaNui]

Re: Honolulu Millionaires!

Yeah, that's cuz even owning your own home could make you a millionaire here.

Yep, that's exactly what I was thinking too.
And I noticed that they're referring to the city of Honolulu (not the county), which they interpret as the area between Salt Lake and Hawaii Kai.

[Glen Miyashiro]

Re: Honolulu Millionaires!

Oh wait, hold on. The article says:

People's primary residences were excluded from the calculations of their net worth.

Well. In that case... Jesus. Who are these people? I don't think I know too many.

[Miulang]

Re: Honolulu Millionaires!

"These" people are the retirees with beaucoup bux who can afford to have places in Hawaii Kai or Wailea or Kapalua. You can bet most of those "millionaires" didn't make their fortunes by owning a business in Hawai'i, or by working their way up the corporate ladder by starting at the ground level (many probably also were born with silver spoons in their mouths). My guess is if they looked at different places within the 'aina and not just Honolulu as an index, Maui would have a whole buncha millionaires, too.

Miulang

[Palolo Joe]

Re: Honolulu Millionaires!

"These" people are the retirees with beaucoup bux who can afford to have places in Hawaii Kai or Wailea or Kapalua. You can bet most of those "millionaires" didn't make their fortunes by owning a business in Hawai'i, or by working their way up the corporate ladder by starting at the ground level (many probably also were born with silver spoons in their mouths).

Yup, too many of these mainland folks deciding to retire in Hawaii. They should stay on the mainland.

[timkona]

Re: Honolulu Millionaires!

Being a business owner in Hawaii is just as hard as anywhere. The one difference is the tax and regulation that are high in Hawaii.

I like to think I can make a decent living anywhere on the planet doing just about anything I want to do.

If God created man in his own image, is HE homeless at Ala Moana Park, or too stupid to run from a hurricane in a city that's below sea level?

Or is HE a go-getter with a 24/7 work mentality, who loves to farm, fish, and surf, while relishing life in all its pitfalls and joyous times?

The "poor me" mentality is much easier to embrace than the "Can Do!" mentality.

[Paul]

Re: Honolulu Millionaires!

Well Tim, with such a "pull yourself up by the bootstraps" attitude, have you made your first million yet?

[timkona]

Re: Honolulu Millionaires!

Not yet. But I'm gonna keep on keepin' on.

[Miulang]

Re: Honolulu Millionaires!

A person earning $80k year before taxes will earn $2.4 million working for 30 years. Subtracting 28% for taxes ($672k) that leaves $1.728 million.

The amount seems like a lot, but it really isn't, if you want a house, food, clothes, a car, education for the kids, a movie or two, a vacation every now and then...

Miulang

[LikaNui]

Re: Honolulu Millionaires!

A person earning $80k year before taxes (...)

... probably doesn't work in Hawai`i.

[Tiger Beer]

Re: Honolulu Millionaires!

12-1/2% of all Honolulu residents are millionaires?!:

"Honolulu is 10th nationally in terms of the percentage of millionaire households, according to Kiplinger.com, the Web site of Kiplinger's personal finance magazine. The site said 12.5 percent of households here are occupied by (millionaires)"


The full story is on the Advertiser's website here.

10th nationally in terms of percentange of millionaire households.

That means there are 9 other states with a higher percentage of millionaires? Hard to imagine.