Why many millionaires are dirt poor (Photos)

Define millionaire. The fact that you make a million dollars or more per year means nothing. It’s your net worth that really matters. You can also look at it in terms of assets to expenses. In other words, if you sold all your assets, how many years could you live off of the sale of your assets? For a lot of “millionaires” it’s not very long. Many of them have high debt and low income to expense ratios. Every year that goes by creates added pressure to keep large amounts of income coming in to pay the high costs of living. In some cases, the need to appear wealthy causes them to take on more debt to finance expenses and maintain this appearance. The real goal is to have enough money so you don't have to worry about your future. This number differs for everyone based on their expenses and desired lifestyle. Creating cash flow investments can greatly assist everyone in reaching this milestone. Many people think that millionaires are set for life and don't need any money advice but this is not true in reality. If you become a millionaire, the best thing you can do is not spend it on expensive things but instead take time to educate yourself on advanced investing techniques that will protect your wealth so that you can live off it for your lifetime. Don't follow the footsteps of many millionaires who made millions only to lose it all.