Reply to Could it actually be more economical for UMC families to charter a private jet together?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]My ILs went in on a private jet with another family. My nephew is a pilot.

However, they are NOT UMC. They’re worth at least $7M.[/quote]

$7MM is UMC around here...  for full networth of a couple including retirement.
No way is that considered "rich"...

[/quote]

If you were to invest $7M, and draw 2%, that would give you at least $140,000 income for at least 50 years.[/quote]

…and $140,000 a year isn’t rich.[/quote]

$140k/year passive income in a paid-off house is rich, yes. Remember we’re assuming the person drawing the income doesn’t work.[/quote]

np. We have a $3M portfolio and a paid off house. Most of the investments are in retirement accounts, and they're almost 100% stocks. If our investments generate 5%, then I guess that's $150k passive income.

We have a combined earned income of about $250k, of which we try to keep contributing a good amount to retirement accounts. The fact that the investments have been flat, overall, for over two years now, plus the rising prices on everything, has made us feel very, very un-rich.

We've got three college educations starting in two years to think about. [/quote]

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