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According to one estimate, wealthy couples in NYC need $190 million to keep their heads above water
From Business Insider: http://www.businessinsider.com/how-much-money-to-be-rich-2017-11
Even rich people think wealth is elusive.
About 5% of Americans are millionaires. The vast majority of them, about 95% according to a report by Wealth Engine, have between $1 million and $5 million — and many think that's just not enough.
"Many people believe that, along with tangible assets and services, having it all means having some wiggle room — money to cover a major splurge or setback, and more on top of that," writes Norman Vanamee in Town & Country magazine.
Vanamee consulted experts to estimate the "happiness number" for a hypothetical, wealthy, non-working couple in their forties with two teenage kids in an expensive private school in New York City. They live in a park-side Fifth Avenue apartment, buy art, take private jets, donate to charity, and have a household staff — a chef, driver, and housekeeper — plus two vacation homes. They're also setting aside $25 million for each child to inherit.
About 5% of Americans are millionaires. The vast majority of them, about 95% according to a report by Wealth Engine, have between $1 million and $5 million — and many think that's just not enough.
"Many people believe that, along with tangible assets and services, having it all means having some wiggle room — money to cover a major splurge or setback, and more on top of that," writes Norman Vanamee in Town & Country magazine.
Vanamee consulted experts to estimate the "happiness number" for a hypothetical, wealthy, non-working couple in their forties with two teenage kids in an expensive private school in New York City. They live in a park-side Fifth Avenue apartment, buy art, take private jets, donate to charity, and have a household staff — a chef, driver, and housekeeper — plus two vacation homes. They're also setting aside $25 million for each child to inherit.
This is vast, almost completely incomprehensible privilege. I wonder how many guillotines that $190million would buy? Things are reaching a breaking point in the western world. The gap between the wealthy and the poor cannot continue to grow at the rate it is growing.