I’m not sure you’re trying to say that I did, but I didn’t mean that 10 million was the minimum needed to say a person is rich.
I was saying my standard for rich was in the neighborhood of 10 million, compared to 1 million. If you have 1 million, your 6% would be 60k, but you don’t get interest on your house where you’re living, so if you purchased a house in today’s market that might be 250k, and now you’re down to 45k. Certainly not a salary where you can live in luxury.
I’m not sure you’re trying to say that I did, but I didn’t mean that 10 million was the minimum needed to say a person is rich.
I was saying my standard for rich was in the neighborhood of 10 million, compared to 1 million. If you have 1 million, your 6% would be 60k, but you don’t get interest on your house where you’re living, so if you purchased a house in today’s market that might be 250k, and now you’re down to 45k. Certainly not a salary where you can live in luxury.
A house for 250k? Lucky!!