Reply to What’s the different between upper middle class and upper class?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Ha my sister married into a UC Bostonian family - you would never know it when you look at them.

The parents have a house in the NE for the summer and in the SE for the winter.

Will fly commercial but as they have gotten older prefer to fly on private jets.

Daughter married into finance and her HHI is around $10 million a year.

Son (my sisters husband) and my sister do well but are not as insanely wealthy as the daughter. Their HHI is around $1.5 million a year.

The family trust is around $20 million and nobody touches the principal it just gets passed down through the generations. [/quote]

This is a tiny family trust for this level of HHI. I created a $7m trust for my child a single mother making $300k/year[/quote]

Sorry, what are you saying?  how does one create a $7 million trust from earning $300k a year?  That's like 30x your gross pre-tax annual salary.[/quote]

Leveraged investing in real estate, efficient taxation and several jobs between  age 25 and 45. Beginning salary was 100K[/quote]

I have done better than that. I created a $10 million trust. I have never earned more than $210k a year.[/quote]

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