Home|Our Difference|Our Services|Team LFA|Resources|Client Log-in|Contact Us|In the Community

Financial Briefs

More Articles  Printer Friendly Version

 

Are You "Rich" Or Not? New Survey Hits The High Points

Do you consider yourself rich? If you own a couple of mansions, a fleet of luxury cars, and financial accounts reaching high into the millions, it may be easy to answer that question. But other well-to-do people might struggle with the issue of whether they are "rich" or not.

To get a better grasp of perceptions, Yahoo Finance recently posed a series of questions about personal wealth, to which more than 25,000 people responded. The survey concluded that people call themselves rich if they have a median income of $425,000 and a net worth of $5 million.

But this exercise also turned up other interesting results. For instance, the median amounts respondents required to consider other people rich were an income of $500,000 and a net worth of $10 million. In other words, more people called themselves rich than were actually rich by their own standards. On the other hand, it's noteworthy that people earning $300,000 a year with a couple of millions of dollars of assets didn't think themselves rich—far from it.

But even if you're not rich in your own mind, you may get there by sticking to a financial plan designed to increase personal wealth. And, if you're already rich, follow the same approach for preserving your status. We can help you make provisions for the future.


Email this article to a friend


Index
Four Smart Tools For College Savings
Tax Relief For Disaster-Area Losses
It's Hard To Beat The Annual Gift Tax Exclusion For Ease
NINGs, WINGs And DINGs: Tax Angles
A Trust For Creditor Protection
"New and Improved" QSBS Tax Break
If Estate Tax Repeal Is Enacted Soon, Will It Stick?
Avoid This Installment Sale Trap

This article was written by a professional financial journalist for Larkspur Financial Advisors and is not intended as legal or investment advice.

©2017 Advisor Products Inc. All Rights Reserved.
© 2017 Larkspur Financial Advisors | 100 Tamal Plaza, Suite 110, Corte Madera, CA 94925 | All rights reserved
P: 415.924.6703 | F: 415.924.6723 Advisors@LarkspurFA.com |
Disclosure | Contact Us

Securities and advisory services offered through The Strategic Financial Alliance, Inc., (SFA), member FINRA/SIPC, which is otherwise unaffiliated with Larkspur Financial Advisors or LFA Holdings, Inc. Ronald Murphy, CLU, ChFC (CA Insurance License #0290052) is a Registered Principal and Investment Advisor Representative of SFA. J. Richard Arellano, CLU, ChFC (CA Insurance License #0186691), and Kevin Bartel (CA Insurance License #0J04584) are Registered Representatives and Investment Advisor Representatives of SFA.

We are licensed to sell Insurance Products in the following states: California, Florida, Georgia, Nevada, Oregon, Texas, Utah, and Washington.
We are licensed to sell Securities in the following states: Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nevada, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, and Washington.