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In The 1%? Congratulations, You Can Never Retire
An entry ticket to the 1% starts with an annual income of about $394,000 (says Berkeley’s Emmanuel Saez) or about $1.5 million in liquid assets (my zestimate). Post-tax and retirement savings, that’s about $220,000 a year while they are working. These are national norms. If they happen to live on the coasts or near a major urban center, as is more than likely, they might need twice as much money to crash into the 1% by local standards….When these worker bees hit retirement, their high-earning lifestyles will propel them off a cliff…Read More
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