Quote:
Originally Posted by Love Sex
you forgot almost 6 mill in bank. why would anyone care about 4k a month
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No, I didn't miss that fact, but being worth $5.7 million is far different than having $ in the bank. Much of those assets may not be liquid i.e. home, business, restricted stock, retirement accounts, etc. The ones who do care are the ones who end up keeping their wealth vs. the ones who blow through it.
Quote:
Originally Posted by Forest
how do you have 6m in the bank on 250k in income pre tax and spend 45k a year on some bimbo plus maintain a family, house, cars ect ect.
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My guess is the typical millionaire from the SF Bay Area is either an employee of a high tech company (private or public) or a venture capital company. A large chunk of the $5.7 million would be employee stock, restricted stock or stock options. I guess when it comes down to it, these people spend money like sports stars who pull in 6-7 figure incomes and wonder years later where all the money went.