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Reply to "s/o what is rich - net worth"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]We have a net worth of around $13M in our late 30s, all self made. Objectively we know we are rich and at this point it is easy to make money, but I don't feel that I could just put it in the market and never worry about money again. I estimate that it would take at east $30M for that, which incidentally is the cut off for ultra high net worth.[/quote] What kind of absurd lifestyle are you living? 13 million getting a 3% return is $390k per year. [/quote] It's funny. Objectively it seems that you should be right. But don't forget taxes. Even at all capital gains, you would only keep $300K on $13M. Which again seems like a ton, but at our net worth our expenses are extremely high (objectively, not for our net worth). We spend $20K-$25k a month and with inflation, it is cutting it too close to just set it and forget about it. Besides we are young and can work more without it affecting our lifestyle. [/quote] Holy cr@p = what do you spend $20-25K on each month? My SIL makes $35K A YEAR!!!![/quote]
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