3 ms·

Really? If you don't need to work for the rest of your life and can afford to hire multiple staff to work for you that seems like something akin to a minor feud

• nemo44x 5y ago
  It adds up quickly though. After taxes on those revenues you’re looking at $60k/year for each child’s education, $75k for family travel and recreation - with 2 kids you’re at $200k already before considering taxes. Meanwhile club membership can easily reach $30k for family socializing, $10k for home and garden maintenance, in addition to day to day expenses like dining and sports training/dues - easily another $20k annually. Throw in another $40k on property taxes. So you can’t really quit your day job and you’re solidly upper middle class - but it’s not like you’re aren’t still thinking about money or that you’re spending your growth (keep in mind your earning on top of realized investment income is taxed at nearly the highest marginal rates - what legacy will you even have to pass down, especially after estate taxes. Can keep you up at night if the Margeaux didn’t knock you out.