lots of regular people have a net worth of $2-$3m.
thats just a nice house fully paid off.
If you invest in real estate throughout your career, when earnings are good, this figure could be double that..more in some cases.
So we have loads of people who have $3m in bank and a $3m house paid off.
i.e. they dont need to work as they get $90k per year on interest alone.
So, if you earn, in some years, 5-10 times those regular people, why is $30m net worth at 38 so hard to believe?
maybe its because others have squandered their income.
I have a friend who earns $180k per year, and has earnt over $100k per year for some time. He's 37. He's pretty tight with his money and is married to a lady who has paid off their $400k home- again some time ago.
He invests in real estate so is earning around 10% PA interest on property values. He has 2 properties around $500k each. He negatively gears the tax to offset his high personal income rates through the property.
That means he puts about $150k per year into his bank account. Or, he pays off a property every 4 years.
At 50 , hell own at least 4 properties- not including his own..totalling approx $2.5m. He has no expenses other than food, and he'll be bringing in $1800 per week on rent, plus still getting that 10% property appreciation.
and that's not including HER income throughout...
not so hard to believe that Jay's doing $30m
