[quote=temeculaguy]phaster, I guess I agree with the article, that 5 mil might be the tipping point where people do not feel constrained but 1 mil, no way. We all have our own strategies but hypothetically if a person wanted 15k monthly in perpetuity plus 3% inflation for retirement they would not feel wealthy without restraints but they might feel comfortable if they had between 1 and 3 mil. Depending on the website and the calculator you use, you need about 2 mil to make that happen. So I’m not surprised 70% of those with 1 mil and up don’t feel wealthy without spending constraints. Plus most people who save more than 1 mil did so with constraints that they will not readily part with despite the number on their statement.[/quote]
a million in the bank isn’t what it use to be,…
[quote] The Mass Affluent, according to Forrester, are current investors with $100,000 to $1 million in assets (excluding the value of their home). Currently, there over 40 million people across the US that fit into that category and they hold about a third of all retail investment assets.
being wealthy IMHO means being able to say “FU” in ways people can only fantasize about,… for example instead of a kickstarter to appeal to liberal “Mass Affluent” AOC supporters to buy trump tower in NYC and turn it into low income housing for latin american economic refugees,… TRUE WEALTH would be having the ability to pay market rents/prices and turn trump tower in NYC into low income housing for latin american economic refugees
