Entry Fee to Being Rich Raised to $7.5 Million
Fidelity Investments knows lots of millionaires, so they were like, "Let's survey them and see how horrible they are." The millionaires came through in a major way. Fidelity's PR team thanks you, you greedy bastards!
The more than 1,000 households surveyed had an average of $3.5 million in investable assets. About 42 percent said they don't feel wealthy, saying they would need about $7.5 million to feel rich.
I mean, you gotta figure, keeping $500K in your rainy day fund and investing $3 million at a conservative 5% per year only throws off $150K in pure profit for you annually in exchange for doing nothing but playing tennis all day, so you can see the problem here.
Poor people's threshold for feeling wealthy continues to be "Able to buy Tastykakes whenever I want."
