Every once in a while, although not often enough, CNN/Money posts an article in a series called, Millionaire in the Making. Mapgirl beat me to pointing out that a new one is up. Go through Mapgirl's post to get to the CNN article.
Anyway, here's my question. How do you read these articles? What do you think when you read them? I'll tell you what I do. I think, "how do I stack up to these guys?" I know my net worth, and now so do you for that matter, and I know my age and income.
The most recent Millionaire in the Making was interesting.
I am two years younger than the guy, and my Fiancee is two years younger than the wife. So, we are the same age difference, just two years younger. My Fiancee and I make more collectively than the two of them do, yet their $240,000 in savings and investment is almost double what ours is.
So, here's what's going through my mind:
"Let's see. They have saved more than we have. But they're older. So, can I make up that difference in the next two years? Dang it, probably not. That, and they make less than I do, but they have a housing allowance. But even with the housing allowance, I still make more. Okay, they win."
But, is this supposed to be a competition? And is it healthy for me to always go straight to how I stack up against these folks?
Is this another form of "keeping up with the Joneses"?
Well, check out the post by Fiscal Responsibility, "Keeping up with the Joneses ain't all that bad". She makes a good point. Maybe a little competitiveness is healthy.