Why investors with large portfolios aren't as rich as you think they are

Discussion in 'Investment Strategy' started by Zoolander, 7th Sep, 2017.

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  1. MWI

    MWI Well-Known Member

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    For me it is simple, as long as my income (ordinary or passive) is larger than all my expenses (each expanses differ, some may want $100 million boats, castles, art work, jewellery, taking care of parents, family, some have much lower aspirations) then I feel comfortable...
    Like RK said as long as our Assets are greater than Liabilities (so money coming in more than money going out), then you are financially free, as you have always money left over.
    Not wealthy, as wealth encompasses the whole holistic approach to life, health, spirituality, finances, social, etc...
     
    MWI, 6th Oct, 2017
    #81
  2. Beano

    Beano Well-Known Member

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    $50k per dependent ?
     
    Beano, 6th Oct, 2017
    #82
  3. kierank

    kierank Well-Known Member

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    You must have attended a different accounting school to me :)

    Net Worth = Assets - Liabilities​

    Surplus = Money In - Money Out​
     
    kierank, 6th Oct, 2017
    #83
    qak and Blacky like this.
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Maximum Deductions - Washington Brown Depreciation