To have 10x what's necessary, you need to be able to survive on 1% returns (I'm trying to be generous there). So if you can live on $30,000, you need to have "only" $3MM invested.
You should also not be investing more than 25% of your assets into a single asset class, so you need to have $6-12MM of assets (range depending on considerations) in the first place.
I think having even $3MM is a reasonably called 'rich', but others may disagree.
You should also not be investing more than 25% of your assets into a single asset class, so you need to have $6-12MM of assets (range depending on considerations) in the first place.
I think having even $3MM is a reasonably called 'rich', but others may disagree.