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Reply to "mo money, mo problems?"
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[quote=Anonymous]Having money exposes you to a new set of problems that you otherwise would not encounter if you had less money. So the phrase of "mo money mo problems" is true. The problems typically revolve around taxes, cash flow, and investment management. For those with less money, these are usually much simpler in scale. However, the problems are 1:1 in scale with the increase in money, such that people are not discouraged by the additional problems so much as to avoid making more money. Hiring outside help goes a long way towards resolving the problems, but it only goes so far. I'd say at the 1MM HHI income level, depending on your source of income, your tax situation alone can get extremely complicated. You have to be personally involved in managing your own tax situation because the accountants will just take the path of least resistance. [/quote]
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