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Welcome to the "Mass Affluent"
Old 12-15-2005, 04:21 PM   #1
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Welcome to the "Mass Affluent"

Wharton occasionally publishes a study with interesting factoids & statistics.

Apparently ER planning is tougher than it looks. Or maybe not. Maybe the rich really are different than you and me.

At least this is better than being part of the mass effluent...

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Re: Welcome to the "Mass Affluent"
Old 12-15-2005, 05:44 PM   #2
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Re: Welcome to the "Mass Affluent"

You are right. The planning process seems complicated. I guess this is only applicable when you have millions and you want to live "well."
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Re: Welcome to the "Mass Affluent"
Old 12-15-2005, 06:33 PM   #3
 
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Re: Welcome to the "Mass Affluent"

Well, I read the article. No real new info here. It would appear that some brokers are trying to entice very wealthy folks into their traps offices. Examples of folks with $16 Million and trying to make it last during retirement. :

6% withdrawal rates?

And throwing worries out about how much long term nursing care will cost. - Heck, I'm not worried about how much it costs, I'm worried that I would have to end up there in the first place

Someone probably even got paid to write this! - Which is what it's about anyway.
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Re: Welcome to the "Mass Affluent"
Old 12-16-2005, 08:52 AM   #4
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Re: Welcome to the "Mass Affluent"

Mass Affluent would cover about 50% of the folks on this board according to the recent DanTien Net Worth poll last month. There are several that would fit into several of the categories here, assuming some level of truth in the voting.

As for the specifics in the article. I agree there was not much new in the way of retirement planning in general but I did find it interesting that even the wealthy have to control expenses to assure an adequate massive income stream during retirement.

The message to me was no matter how much you have, you have to know what you need to live on and where it will come from without counting on eating your house and other assets that are needed for day to day living.

Still, struggling to find a way to make $30,000,00.00 last was a bit mind boggling to me. I cannot relate to that kind of money and an after tax income stream of $500,000 or more a year.
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Re: Welcome to the "Mass Affluent"
Old 12-16-2005, 11:26 AM   #5
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Re: Welcome to the "Mass Affluent"

Quote:
Originally Posted by SteveR
I cannot relate to that kind of money and an after tax income stream of $500,000 or more a year.
Ah, I bet we'd all get used to it. "Oh, pool girls, another mai tai please!"
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Re: Welcome to the "Mass Affluent"
Old 12-16-2005, 06:18 PM   #6
 
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Re: Welcome to the "Mass Affluent"

Quote:
Originally Posted by Nords
Ah, I bet we'd all get used to it. "Oh, pool girls, another mai tai please!"
Yeah, it would take me about 10 minutes to 'get used to it'. 8)
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