20 Reasons Why You’re Not Rich.

Over at the Street.com, Jeffrey Strain has added 10 more reasons why you’re not rich to a list he published last year. Here were the 10 original reasons:

1. You Care What Your Neighbors Think:

2. You Aren't Patient:

3. You Have Bad Habits:

4. You Have No Goals:

5. You Haven't Prepared:

6. You Try to Make a Quick Buck:

7. You Rely on Others to Take Care of Your Money:

8. You Invest in Things You Don't Understand:

9. You're Financially Afraid:

10. You Ignore Your Finances:

Here's Strain's new list:

Many people assume they aren't rich because they don't earn enough money. If I only earned a little more, I could save and invest better, they say. The problem with that theory is they were probably making exactly the same argument before their last several raises. Becoming a millionaire has less to do with how much you make, it's how you treat money in your daily life. . . .

Here are 10 more possible reasons you aren't rich:

1. You care what your car looks like:

2. You feel entitlement:

3. You lack diversification:

4. You started too late:

5. You don't do what you enjoy:

6. You don't like to learn:

7. You buy things you don't use:

8. You don't understand value:

9. Your house is too big:

10. You fail to take advantage of opportunities:

Read the original posts for the explanations of each point.

The question the articles answered was variously presented as why you're not rich and why you're not a millionaire. These are not the same question. If you have a million dollars in liquid assets at retirement, that would usually generate about $50,000 - $90,000 a year, enough to live comfortably in many areas of the country, but not enough to be rich. And if half of that million dollars is tied up in your house, then you can expect an income of about $25,000 - $45,000, which would generate a smaller income than the average working family.

To be a millionaire is a goal that many working families aspire to -- amd most do not reach -- but it is no longer enough to make one rich enough to own a median house in a fairly expensive city and an income stream in retirement significamtly larger than the median family income for working families.