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Reply to "Net worth over $20 million"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]20M isn’t poor but it is far from rich. It is a solid upper middle class retirement number. You just have to hope that you don’t end up with any expensive healthcare costs. [/quote] This! Most in that level are not purchasing LTC, we are planning to self insure. At $12-15K+ per person per month, that can mean $300K/year+ for a couple, possibly more for great care. That's in a facility, if you want to stay at home much more [/quote] 20M in a very conservative bond portfolio is paying you $600k-$800k/year. You can have your nice facility or even 24 hour in-home care without touching your assets.[/quote] $20m is undoubtedly more than enough to cover two people's LTC or other health issues. $20m is definitely rich. It's not multi-generational, go start a family office rich, but it's well over UMC. [/quote]
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