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Originally Posted by David - PG
According to how many banks categorize customers:
- 300k gross a year income _OR_ 1 million of liquid investable assets = wealthy
- 30 million net worth = super rich, the breed of people that get their asses licked in the banks' family offices in Switzerland
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I once met someone who works in a "private branch" of a large national bank in Australia. It's located in the city with an unmarked entrance. You can't get your foot in the door unless you've got at least a couple of hundred thousand dollars of positive balance in your accounts.
If I had $200k cash, it wouldn't be sitting in a savings account.
