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> wildly unrealistic for people that are not billionaires. Bullshit. Someone with an invested net worth of $10M exclusive of home value can generate an income
by pmiller2 8y ago
> wildly unrealistic for people that are not billionaires.
Bullshit. Someone with an invested net worth of $10M exclusive of home value can generate an income of $300k using a conservative safe withdrawal rate of 3%. Anyone making $300k as an individual with a paid off home has more than enough money to be comfortable anywhere in the country, with no real need to invest further. $10M net worth is a large, but not absurd amount, but even if my numbers were somehow off by an order of magnitude, we’re far from billionaire territory.
- mhuffman 8y ago> wildly unrealistic for people that are not billionaires. >> Bullshit. Ok, "wildly unrealistic for people that are not double-digit millionaires!". My intent was that it was a small amount of people in that group.
- pmiller2 8y agoTrue, but you can cut those numbers by ~50% and still be very comfortable in most, if not all places in the US. According to https://dqydj.com/net-worth-percentile-calculator-united-states/ https://dqydj.com/net-worth-percentile-calculator-united-sta... there are over 3 million households with a net worth over $4.5M. Relatively speaking, that is a small number, but, collectively, the good those people could do if they came together would be immense. Of course, this will never happen.