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Could, but they don't. Someone with $1.2MM has enough that they could sustain a lifestyle that ~$36k/yr* could afford them. Someone with a NW of $20MM has enoug
by dlp211 5y ago
Could, but they don't. Someone with $1.2MM has enough that they could sustain a lifestyle that ~$36k/yr* could afford them. Someone with a NW of $20MM has enough that they could sustain a lifestyle of $600k/yr.
Those lifestyles are no where near being the same.
*based on a conservative 3% withdrawal, but the point stands irrespective of the withdrawal percentage.
- s1artibartfast 5y agoThis is again an argument based on income, not assets. You could scrutinize loans based on assets to close the gap.