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RE: How much to be Rich?

in Finance and Economy4 days ago

Well my number for being rich is anything 6,000,000 USD+
I would allocate these assets the following way:
3,000,000 - Income Producing Investments
2,000,000 - Home
1,000,000 - Everything Else

In addition to that 6 million USD net worth this assumes 0 debt and other income such as salary or business that it is 200K USD+ per year.

That is naturally applicable to Seattle area in other areas home value could be less, etc.

And yes I do get your point that you don't need a huge house or fancy car, but the scenario above is what it takes to not feel the need and live fairly modestly in Seattle area.

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above is what it takes to not feel the need and live fairly modestly in Seattle area.

Would that be modest living there? Here, that is pretty extreme!

 3 days ago (edited)