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Old 08-25-2017, 09:11 AM
 
Location: Close to an earthquake
890 posts, read 627,286 times
Reputation: 2384

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https://www.bloomberg.com/news/artic...reatest-wealth
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Old 08-25-2017, 11:26 AM
 
9,110 posts, read 3,718,308 times
Reputation: 13423
easy, they dont do dumb **** that gets them dead at a young age
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Old 08-25-2017, 11:37 AM
 
Location: Myrtle Creek, Oregon
11,073 posts, read 11,482,914 times
Reputation: 17238
Interesting. I thought the amount I have spent on art over the years was unusual, but an average 2.1% of assets is about where I sit. I just buy what I like. Someday I will probably have to send it all off to an auction, except for one museum quality stone sculpture that I will donate and take the deduction.
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Old 08-25-2017, 10:24 PM
 
964 posts, read 924,712 times
Reputation: 1198
My grandpa used the GI Bill to get a Masters in Electrical Engineer from USC back in 1954. We worked for the city of Los Angeles at the Department of Water and Power and never drew an extraordinarily high salary. When he retired in the early 90s, I'm not even sure he scratched the 6-figure salary. He passed away in 2012 with a $3.4M estate thanks to decades of growth in the stock market; he literally bought 2,000 shares of Apple back when it was $18 a share (pre-split). I remember him telling me how easy things were for his generation. Investments in stocks, real estate, and bonds all had major growth from 1960 to present. Meanwhile tax favorable policies were added over the decades to encourage wealth retention.

He also enjoyed a pension that was adjusted for inflation; they don't offer those anymore and for good reason.
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Old 08-26-2017, 06:13 PM
 
Location: Florida
4,396 posts, read 2,437,434 times
Reputation: 7792
I am over 80, but like a destitute snake I haven't got a pit to hiss in.
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