– Let’s talk about language!  “Investments” are things that make you money.  Cars are not investments, unless you’re a real vintage car collector.    Furniture is not an investment, unless you’re starting some sort of furniture rental business thingy.  Insurance is not an investment – it costs you money.  Clothing is not an investment, unless you’re in the tuxedo rental business.  Things that you are going to use (aside from your home) are not investments; they’re expenses.

– I don’t really believe in “good debt.”  Implicit in the word “debt” is the connotation of bondage, because your money is already owned and is working for someone else.  Debt = bondage, so I stay away with it, whether a financial nerd terms it as “good debt” or “bad debt.”

– “Net worth” is simply defined as what you own minus what you owe.  You’re a millionaire when your net worth reaches one million dollars or more.  Investment professionals define it a little differently, as a “millionaire investor” would be someone with one million dollars in investable assets, not just everything they own.