Kevin BeaumontMicrosoft, one of the world’s most profitable companies - a story in two parts.
ShadSterling@GossiTheDog if I made that much in one year - or in 10 years - I’d retire and start working for the good of society rather than for survival and stability. $55,000,000 is enough to establish a trust that can support a family on investment income alone in perpetuity; Income above that threshold should be taxed at 99%
James WuMedian family income in the US is 89k, so even 2% withdrawals off of $5m is enough to support a family in perpetuity.
4% out of $55m would support 25 median US families.
@analogist @GossiTheDog around here it takes about $75k/year to support one person, if they have no debts or health problems; I can’t imagine supporting a family on only 18% more, but maybe that’s why so many people put up with a multi-hour commute. What people currently scrape by on is not the standard we should go by