After rich there are other things. It goes by stages. Running POA's that enable as many missions to get done as possible is very important. Good people usually lack capital. Then there is captializing problem solving. It is best to work in situ in various global locations. The US has not figured out how to support world peace instead of war. Those who help others are often not properly financed. There is no point in making anyone rational mad at you. You have to protect yourself from irrational people at all times; it can be expensive and restricting. The bottom line is taking money away from those who do not take their responsibilities proiperly. They have a capacity; you take it away from them at ablout fives times that capacity.
let Zuckerberg trade everyday...everysecond and drive Honda Civic...let him delete my foking account asap!!!
Gordon Gekko: The richest one percent of this country owns half our country's wealth, five trillion dollars. One third of that comes from hard work, two thirds comes from inheritance, interest on interest accumulating to widows and idiot sons and what I do, stock and real estate speculation. It's bullshit. You got ninety percent of the American public out there with little or no net worth. I create nothing. I OWN.
++ Not having to live my life surrounded by people I don't like, being able to work on my dreams, not somebody else's - that is rich to me. That is financial independence. But it is nothing without health. Your health is your greatest possession.
There is no such thing as "rich" or "wealthy". Those words are used by political figures like Obama as campaign slogans and to drum up support.
10% return is far from a given, especially that you are talking of passive income, rather than working almost full time of to return that much. More than 10million needed imo to ensure that passive 1million income
To make $1M passive a year, on time money interests accounts, you would get a maximum of 2% from a few banks, you would need $50M for that. You could distribute it to 5 different banks, to be sure you get the 2% of that whole money. 1M$ a year, for only working 2 days a year, with walking to the banks, or signing the contracts, or move your money on different accounts --- is a really good definition of being RICH. Besides that i think, if you are a single and dont live in big expensive cities (like new york), 5M$ are more than enough, to feel rich for the rest of your life and to do everything you want. But if you have a family, or do you prefer the high expensive life style, you need of course more, maybe at least 15M$.
Even today, at around 3M mark, there are quite a few investment vehicles that would give you approx 8% annual return without much risk (i.e., risk level much lower than your standard Bond / Equity mix). And we all know this is during one of the lowest historical interest rate periods. If you have more risk tolerance (such as currency exposure, say AUD, even with FX hedge, you may be exposed to liquidity risk, just to be clear), then 10+% is achievable.
Yeah, i like that way. The good thing is, we life in the online age and Nowadays everybody can make one million and it is still more than the most people will ever have in their whole lifes. Thank you Microsoft !!!
Not much risk might work for some but not me. I used to swing trade closed end fund. Went hunting one day and lost 24,000 bucks. CD's and scalping are the only way to go for me.