What's the MAXIMUM networth you'd want to have?

I reckon my max amount would be $100,000,000,000,000,000,000,000,000,000,000.43

Yes, that's right I'll be the richest man in the world with all those ducks lined up. And that 43 cents, yes that amount represents how much tax I'll pay lol.

 

Now that’s just being greedy.

 

Yeah, true. Better make that $1.43 tax.

 

Once you get past 25-30m...it becomes a pain.....you need more advisors.

$20m is plenty....even if it gave you say 500-800k per annum.

 

Somewhat ironically, that should allow you to buy up all the Commodores in Australia, and maybe New Zealand, and all the panel beaters at the same time, thus driving (no pun intended) up the price due to cornering the market, like nothing else seen since the Hunt Brothers on Silver Thursday in 1980.

Bravo!

 

I had a client with almost $50m from a huge windfall. He & his wife purchased a portfolio of insurance bonds with various maturities and exposures and kept some cash etc and updated his home , Paid $0 tax (got refunds of franking credits) . After 10 years its 100% tax free and he plans to repeat the process. Has no advisers, pays no fees, simple tax returns and knew he could cash in a bond if they had to. He really struggled with the "job" of managing wealth. Originally he though just simple bank deposits but the enormity sunk in it would be a bit or work.

 

Someone comfortable with having say a 500k portfolio with 10k daily up down may freak out with a 5m portfolio with 100k up downs.

though you should be able to grow into it.

seems to be a emotional limitation, not a numeric one.

 

Not a bad idea. I could try and stack all those cars on a 600 sq m block in Mt Druitt. 10 cars wide and 300 high. Just need a crane. Hey, could even build a pyramid out of them. You know, like the pharaohs did back when Moses was around I think. This will be interesting.

 

Apparently they have a couple of spare blocks where you'd be able to do this, just gotta get rid of all that nasty coal.