Don’t Have $25 Million? Then You’re Just Another Peasant

According to recent studies, the rate of income inequality between the poor and rich in the United States hasn’t been this stark since the Great Depression.

It’s all relative, of course.

According to the elite private bankers you’re not really, really rich unless you have at least $25 million in the bank.

Private bankers and finance experts now consider that number to be a threshold amount for self-sustainable and investable wealth.

With $25 million, one could suffer losses in a diversified investment portfolio, see rebounds in a few years, all while still maintaining your status as wealthy, rather than just plain old rich.

Only a couple of decades ago just having a few million made you truly rich.

Peter Charrington, the global head for Citi Private Bank, says that in 1994 “$3 million was largely considered ultra-high net worth across the industry.”

Times have changed.

“Fast-forward almost 25 years, and $25 million is how we define ultra-high net worth,” he says.

How to join the wealthy few

Inflation is a part of it. A million in 2000 would be worth about $1.5 million today.

In a world of volatile financial markets and creeping inflation, a million dollars just doesn’t go as far as it used to.

Unless you are born rich it takes time and the implementation of strategic financial strategies to become wealthy.

Saving money is not enough to become rich. It also takes having multiple streams of income and prudent investment planning as well.

The wealthy “do not rely on one singular source of income,” explains author Thomas C. Corley, who studies the successes of self-made millionaires.

“Sixty-five percent had at least three streams of income that they created prior to making their first million dollars.”

Small-cap winners galore

The big stock market winners share one common attribute: Near the beginning of the ascent of their shares, the companies offer revolutionary products or services, are market leaders in their respective industries, or both. Some big stock market winners that possessed the attributes outlined above are Netflix (NFLX), which we recommended to investors in October 2002; Intuitive Surgical (ISRG), which we bought and recommended in July 2004; Baidu.com (BIDU), which we bought and recommended in August 2006; and MercadoLibre (MELI), which we recommended to investors in October 2010. Get up-to-date small-cap stock picks from David Frazier, editor of Small-Cap Profit Confidential.
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Smarter cryptocurrency investments

The stock market crash of 2008 was the catalyst for his journey into alternatives. And interestingly, it was the impetus behind the creation of Bitcoin and the blockchain technology behind it. Keene Little wasn’t ready to risk his money yet but he was very curious, so he began charting Bitcoin’s technical patterns. What finally convinced him to dip a toe into digital currencies was seeing that they followed familiar price patterns that could be analyzed and successfully acted on. Now he shares those insights with subscribers to the Crypto Wealth Protocol.
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