03-30-2012, 06:37 PM
>>I must admit... the $5 mil, $10 mil, and up answers surprise me a little...
>>Some folks must REALLY love their jobs!
people also differ in their standard of living, investment risk and understanding of long range financial planning.
lets say you have $10 miliion. want to have that same amount next year? It will need to grow by 2-3% to keep up with inflation. Now lets say that you can get by on $100,000 - your money needs to make 4%.
that $10 million has gotten you out of work but you're still essentially middle class.
>>Some folks must REALLY love their jobs!
people also differ in their standard of living, investment risk and understanding of long range financial planning.
lets say you have $10 miliion. want to have that same amount next year? It will need to grow by 2-3% to keep up with inflation. Now lets say that you can get by on $100,000 - your money needs to make 4%.
that $10 million has gotten you out of work but you're still essentially middle class.