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Money and Finances
Reply to ""$5 Million is a Nightmare... the Poorest Rich Person in America.""
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]5M is enough to retire and have a $200k a year lifestyle without working. Its not enough to have a $1M a year HHI lifestyle. [/quote] And this is the key. If you spend 150-200 k a year then you are in good shape. If you spend 500-600k it is not enough. All depends on spend level. Could someone be fine on 150-200k -- of course. But if that is not what they have done cutting back does not make a lot of sense unless you are at the end of your earning potential. [/quote] To be fair, people have complicated financial lives and sometimes "living within your means" takes some effort to figure out. Many HNWI's income is highly variable and what reasonable spend is through the variance moves around with your circumstances.[/quote]
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