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Eh, not really. If someone has $20m they can easily afford a $5m house, which may not be “massive” in the Bay Area but is basically anywhere else. It’s not eve
by opportune 7y ago
Eh, not really. If someone has $20m they can easily afford a $5m house, which may not be “massive” in the Bay Area but is basically anywhere else.
It’s not even about income so much as not caring. Put yourself in the position of a very wealthy person, unless you are wealthy enough to have personal staff, what do you care about a $10k bill? It’s not a big deal to you and barely worth thinking about, you could easily just forget about paying it and think if it’s really important to pay in a timely manner someone will hound you and you’ll pay it then. You open the mail, see some bill notice, throw it on the kitchen table and hit the golf course.
- benj111 7y agoHow do they get the $20m to start with? If they're earning $1m/pa but spending $1.1m they may look outwardly wealthy, but aren't really. Contrast that with the person who also earns $1m/pa but only spends $500k. They're the wealthy ones, and also probably the ones with the smaller house, cheaper car, and $20m in the bank. If you 'just forget' about bills, that suggests to me a personality that is worse with money rather than better, ie the type of person likely to spend on material goods rather than spending wealth. Book recommendation: The Millionaire Next Door.