Re: Formula for/to calculate independently wealthy
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If liquid assets > $10M (net of debt), you are independently wealthy. If >$20M, you are stinkin rich.
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The problem with using a fixed dollar amount as a generalization is that everyones expenses are different. In fact, for most people, the more they make, the higher their expenses.
$10 million may sound like alot to you, but to someone with 1 million/month in expenses its probably not looking so hot!
It costs alot to keep the castle, yacht and private jet running smoothly [img]/images/graemlins/wink.gif[/img]
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