Quote:
Originally Posted by Neil B
Nearly 30% of the survey respondents say they make between $100K - $250K plus whatever spousal income they have. I would have assumed this given the level and quality of builds on this site. What's really interesting is that everyone is claiming not be be a millionaire. I mean come on, if you're making $250K a year and you don't have 1M+ in net worth, how in the heck are you going to retire? Are you going to live in your $100K Camaro? : )
I think a more interesting question would be what percentage of your net worth are you comfortable investing in a car?
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In order to be considered to be a "real millionaire".... you need to have TWENTY MILLION in investable cash NOT including your house....
One million dollars invested in a laddered bond portfolio will net you a whopping $40K per year (tax free net).
The point of having a 30 year mortgage on a house - is that if you bought a house when you are between 30 & 35 years old - you'd have it paid off by the time your retired. Today however... everyone has forgotten that they have a 30 year mortgage and they're already 45 years old... GOOD LUCK WITH THAT!
