KHOU has an interesting report today regarding millionaires in Houston. Seems that there are a total of 56,000 of them, and 96,000 county-wide. That means we have the sixth highest number of seven-figure earners in the nation.
So yes, the guy next to you at Target could actually be totally loaded. But don't hate on him. He's not necessarily a crappy little trust fund kid. It's very likely he made his money the old fashioned way: (insert British old man voice) He eaahned it. "When we looked at where the wealth comes from, a third is from people who just earned it in their income," says Frank Amsler, a money manager for Merrill-Lynch, in the piece.
So where are folks making all this cake? "The Medical Center itself is a booming part of town. And then all the little companies that come from around that, health care technology, is creating a whole new bed of wealth," says Amsler.
Channel 11's story got me thinking, so I called my friend who made his stack o' dough in the medical field. He demands that he only be known as "Mike" (as that's his name). We talked about the secret lives of millionaires.
Steven Devadanam: So you're a millionaire...
Mike: Where are you going with this?
KHOU reported today that there are 56,000 millionaires in Houston.
Mike: Wow, that's a lot. I had no idea.
I sense some disappointment in your voice. Not so special now, are you? Do you even give to the poor?
Mike: Well, you owe me
$500 (amount undisclosed).
Do you have a yacht or plane or anything like that?
Mike: You know we have a mini-van. It's pretty souped up. So I guess it's a land yacht.
Do women smell money on you?
Mike: No, the only thing they smell is sweat from working so hard.
Uh-huh. Do you ever light your cigar with a stack of ones?
Mike: I really need to take this other call.
Okay, wait, what's the best thing about being a millionaire?
Mike: I'm really lucky that now, I eat where I want, whenever I want. I can afford the salad at La Griglia.
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Mike: Okay, I sleep on a mattress made of hundred-dollar bills.
Don't mock the poor, richie. One last thing: Is there a secret hangout for millionaire guys like you?