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Reply to "Just passed the $1 million mark - how to celebrate?"
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[quote=Anonymous]p.s. if you have $1M saved (as opposed to net worth, because liquid funds are what really matter most), you have an income stream of about $40k/yr if you're around 50-60 yrs. old. So having $1M in the bank does not make you rich, although it can sound that way. If you make $100k/yr and want to replace most of your income you're going to need at least $2-3M in liquid assets (i.e., not including your personal residence, etc.).[/quote]
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