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Message
re: Monaco: where OT ballers retire to (millionaire central)
Posted on 7/28/16 at 6:11 pm to PairofDucks
Posted on 7/28/16 at 6:11 pm to PairofDucks
quote:
Also, people with a net worth north of $1 million tend to have skilled CPAs to advise them on tax considerations.
Net worth of $1MM is not really that much.
How much is your house worth? Any rental property? Investments? Retirement/401k accounts?
$1MM is barely retirement money. Certainly not in New York City.
2
Posted on 7/28/16 at 6:16 pm to Sid in Lakeshore
A net worth of $1M is the same regardless of where you live. It isn't income. It is portable.
That being said, whether or not it is enough to live on depends on your age.
That being said, whether or not it is enough to live on depends on your age.
Posted on 7/28/16 at 6:28 pm to Sid in Lakeshore
That's why I said north of $1 million. I understand your point and agree.
Maybe net worth was poor terminology. Plenty own homes that push their network worth to $1 million.
I'll be there in the next five years, but I'm not going to turn my home into cash to buy a yacht.
Maybe net worth was poor terminology. Plenty own homes that push their network worth to $1 million.
I'll be there in the next five years, but I'm not going to turn my home into cash to buy a yacht.
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