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To: Dale Baker who wrote (63111)	4/22/2006 12:19:26 PM
From: tom pope	Read Replies (3) \| Respond to of 206334

LOL, define your terms, Dale. Is there a distinction between very comfortable and really rich in your mind? Assuming the individual lives solely off the income from financial assets (no other sources of income), I'd say comfortable starts at net assets around $4 to $5MM; rich would have to start well, well north of $10MM. In fact, $10MM wouldn't cut it here on Hilton Head Island, where ocean fronts go for around $8MM, and there are a lot of them. It will be interesting to see what others say. "Net" means net of all debt. There was an article in the local paper recently about how much a family should earn to live comfortably in the Southeast. I thought the number was generous until I read the fine print - it included $50K each for the primary and secondary homes. That "typical" family carries a lot of debt, imo. One good thing I did when the bubble stopped bubbling in 2000 was to pay off all debt. Makes for peace of mind. At my age, if you can't write a check for it, you can't afford it.

To: Dale Baker who wrote (63111)	4/22/2006 1:49:59 PM
From: Area51	Read Replies (1) \| Respond to of 206334

Of course there is the democratic party's definition of rich: "Someone not living on welfare".

To: Dale Baker who wrote (63111)	4/23/2006 12:04:35 AM
From: Paul Senior	Respond to of 206334

delete dup.

To: Dale Baker who wrote (63111)	4/23/2006 12:04:52 AM
From: Paul Senior	Read Replies (3) \| Respond to of 206334

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. I didn't see in the article where "net worth" was defined though. From an investment advisor standpoint net worth could maybe mean something net of house values. That is, a guy intending to live in Hilton Head in his $8M home with $800k assets to invest plus a $100K/yr. pension might be of less value to an investment advisor than someone living in a more modest home who has an investment portfolio of a say four million dollars that must be optimized. (Assuming the advisor charges both with the same fixed percentage of assets under management.)