Curious Tidbits

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Richistan by Robert Frank

Do you feel secure?

richistan

A study by PNC Advisors, a wealth-management firm, shows a surprising pattern among Richistanis when they’re asked how much money would make them secure. They almost always answer that the amount they need to feel secure is twice their current level of net worth or income. Those worth $500,000 to $1 million said they needed $2.4 million. Those worth $1 million to $1.49 million said $3 million. And those with $10 million or more said $18 million. In other words, people’s definition of ‘rich’ is subjective and is usually twice their current net worth.