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Being a millionaire ain’t what it used to be. Gnomes Lucky St Patricks Day Hug Pittsburgh Steelers shirt In thinking about net worth, it’s helpful to consider everything using a common denominator, such as your potential annual income based on the return that the wealth could theoretically generate. (Because otherwise, if you start spending your principal, you won’t be a millionaire very long.At this level you can do pretty much anything you’d reasonably want. Pay the mortgage on a $10m mansion as well as a $5m summer place in the Hamptons, put four kids through Ivy League colleges, fly first class anywhere you’d like, make half a dozen angel investments at $250K each, eat out every night at three star restaurants, vacation on the Riviera, and have a full-time cook, butler, nanny and chauffeur.
I expect you’d even tithe $1m annually Gnomes Lucky St Patricks Day Hug Pittsburgh Steelers shirt to good causes, which probably gets you named Man of the Year for a big local charity. All in all, not a bad place to be! But still no Gulfstream, no $35 million penthouse in midtown Manhattan, no building named after you at your alma mater, no mega-yacht docked outside your Riviera estate, no getting Justin Bieber for your daughter’s quinceanera, no 24/7 security detail like the President, no executive-producer credit on Avengers 3, no invitation to the Allen & Co retreat, no mega-trophy-spouse. However, those constraints DO make a difference when you’re playing in the big leagues, so figure that you’ll have to step up to the next category, before there really are NO practical limits to what you can do and how you can live.