Quote from: TDoS on May 18, 2025, 12:24 PMQuote from: K-Dog on May 18, 2025, 11:40 AMSome people are rich enough to be nice. It does happen. I would be one of them.
You are one of them, based on net worth. As am I, and other various 7 figure net worth people Iimagine.
We have established that in today's economy in the FSoA, a low 7 figure net worth doesn't make you rich, merely comfortable, since the McMansion you live in by itself can be worth over $1M.
To be a lower end rich person, in addition to the McMansion, you need an annual income that puts you in the 1%, >200K or so. I would add in addition to that other investments which provide enough annual ROI so that if for some reason you became unable to work, you could continue to live in that house, pay all your bills and live comfortably from the passive income. A portfolio in the neighborhood of around $5M-10M would be about right. In other words, you may work, but you don't HAVE to work.
RE