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Reply to "How Rich is Rich? "
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I am jaded because we are not rich but work with and live near rich people. I define "rich" as at least $20m in net worth—enough for a ski or beach house and a net jets account. [/quote] $20 million does not get you a net jets account. Sure if you want blow it, but not if you want to have it for your heirs.[/quote] With $20 million in net worth you could easily have a net jets card, even if you don’t go in for leasing or fractional ownership.[/quote] Most high net worth people don’t think of it as “spending money” given a lot of those assets aren’t liquid such as their homes. More important is their annual income from wages and investments. A light jet costs $6k+ an hour so you can blow through $100k in about 15 or so hours. That’s not a years worth of flying time, maybe three round trips. We fly private periodically and our net worth is well north of $20 million. We just have better use for our money. [/quote]
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