Millionaire on Paper

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Also found in: Acronyms.

Millionaire on Paper

A person with net assets in excess of $1 million (or the equivalent in another currency) but with less than that amount available in cash or cash equivalents. For example, a millionaire on paper may own a house worth $2 million, but have significantly less in salary or savings. A millionaire on paper may be able to borrow against his/her assets but otherwise does not have access to his/her wealth unless he/she liquidates.