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Also, to be an accredited investor, don't you need a net worth of like $1 million? So having 50k lying around doesn't cut it. Although there might be exceptions
by Psyonic 16y ago
Also, to be an accredited investor, don't you need a net worth of like $1 million? So having 50k lying around doesn't cut it. Although there might be exceptions to that rule... I'm definitely no expert on the subject.
- asmithmd1 16y agoHere are the rules for being an accredited investor: http://www.sec.gov/answers/accred.htm http://www.sec.gov/answers/accred.htm "income exceeding $200,000 in each of the two most recent years or joint income with a spouse exceeding $300,000 for those years and a reasonable expectation of the same income level in the current year" And it is not like you have to submit to an audit to the company before sending them a check -- all you have to do is sign something that says you are accredited. That way you will have a harder time suing the company claiming you were mis-led or whatever.
- Psyonic 16y agoThanks for looking that up. Looks like it's not terribly difficult to qualify.
- jfarmer 16y ago"Net worth" does not mean liquid. Sam's equity in Loopt is easily worth more than $1MM.