Saturday, August 10, 2013

Living Like a Millionaire, on $30,000

The campaign by fast-food workers for higher pay, like $15 an hour, leads to a striking comparison.

Assuming full-time employment (perhaps a stretch in the case of fast-food jobs) $15 an hour produces an annual income of about $30,000.

Using Tiger 21's rule of thumb, a millionaire – that is, someone with investable assets of $1 million – should spend no more than 3% a year. Result: an annual income of $30,000.

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1 comment:

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