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To: Paul Senior who wrote (63173)	4/23/2006 12:52:21 AM
From: Dave	Read Replies (1) of 206336

<<<Dale Baker, another way of possibly categorizing "rich": Barron's this week talks of Financial Advisors managing monies in three classes: Individuals (under $1M), High Net Worth ($1-$10M) and Ultra-High Net Worth. >>>> Paul Senior A very interesting discussion of categorizing rich. I suspect it very much depends of life style and income. My wife and I have two rules: 1. If we can't pay cash (or check or debit card) we don't need it. 2. No interest charges, house or car interest etc. I have been retired 11 years and we live very well on my two pensions, her pension and two SS checks. However, we have been very fortunate to have no major medical problems to date. This year we both must start to receive IRA distributions, which will increase considerably our income. Net worth, however, is under $2MM. My personal opinion is we are "rich" since we travel some, eat out too often for staying slim and can pursue hobbies (art for her, fishing/hiking for me) and still have our health. I suspect the younger people will suffer if they do not have a 401K or pension or health plan that continues into retirement; it will take a very large net worth to live "rich". Dave

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