- Low-level millionaires aren't as rich as you think.
- They may be able to buy penthouses or private school educations, but some things are out of their reach.
- Only the truly wealthy can afford things like superyachts and private jets.
- Visit Business Insider's homepage for more stories .
5 things millionaires can't afford — that truly wealthy people can
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Being a millionaire can only get you so far.
Low-level millionaires might be able to buy a nice penthouse or a private school education, but superyachts and private jets are out of the question. Thanks to an increased cost of living, $1 million, or even a few million, just isn't what it used to be . You have to have millions and millions or billions and billions to really buy everything you want.
Even a billion isn't what it used to be. Consider this: When Forbes started keeping track of the richest Americans in 1982, the richest person in the US, Daniel Keith Ludwig , had an estimated net worth of $2 billion. Flash forward 37 years to Forbes' 2019 ranking, and a $2 billion net worth doesn't even land you a spot on the list. That's right: The richest American in 1982 wouldn't even make it onto the list of richest Americans today . Instead, each of the 13 people tied for 400th place has a net worth of $2.1 billion.
Business Insider rounded up five things only the truly wealthy think multimillionaires and billionaires can afford, and that are out of reach for mere millionaires.
You may not be able buy these things, but hey, neither can the low-level millionaire.
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- The top 15 tax havens around the world
SEE ALSO: Only 13% of millionaires think they're rich
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