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Reply to "How much interaction do the "mass rich" have with the super-rich?"
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[quote=Anonymous]Mass rich here with ~1M HHI. I feel that I can probably occasionally rub elbows with the super rich, but not on a daily basis. Maybe once or twice a year? I regard the super rich as people with tens of millions in networth at a bare minimum. Lets pick a round number of 50 million. Lets further assume that "only" 40 million of that is in working capital, and lets further assume that the investments are generating a modest 4% annual return. That's still 1.6 million a year, significantly above where we are at. Once you start talking about "hundreds of millions", which I believe one of our neighbors have, then it's an entirely different order of magnitude. Imagine having tens of millions in income every year. At that level, you have at a minimum of $27k every day in income when you wake up. A $5000 meal starts looking acceptable. [/quote]
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