Quote:
Originally Posted by the
Rich is when you don't have to work any more, i.e., your conservative investments spin off enough income to easily pay all your bills and live off, and you don't have to touch the principal anymore.
Everyone else is working class.
|
Thanks for the promotion - I never considered myself as rich, but retired at 52 and between my investments and retirement check, my principal goes up, not down. Trouble is, I can't break those lifetime habits of pinching pennies - I guess Sam Walton was like that?
AND - I don't agree with excluding home equity in establishing net worth - Many of us have more than one home. Many of us have them paid for. In these "troubled times" I'd rather have that money in real estate than in the stock market right now!