I guess I didn’t emphasize the end of my post enough, I completely agree.
The difference in lifestyle of someone with a net worth of $1000 or $1m could just be that one of them owns their own house and the other rents. Someone with $1b has absolutely nothing in common with either of the other two, they could probably spend 90% of their life savings and not have a noticeable change in their lifestyle. The guy with a million is still going to think about a couple thousand dollar purchase, and the guy with a thousand doesn’t really have a choice.
I guess I didn’t emphasize the end of my post enough, I completely agree.
The difference in lifestyle of someone with a net worth of $1000 or $1m could just be that one of them owns their own house and the other rents. Someone with $1b has absolutely nothing in common with either of the other two, they could probably spend 90% of their life savings and not have a noticeable change in their lifestyle. The guy with a million is still going to think about a couple thousand dollar purchase, and the guy with a thousand doesn’t really have a choice.
Ah, yes, I misunderstood that very last statement saying the difference is [actually] about $1b. Apologies.