Comments on: How to marry the ultra-rich http://www.cydeweys.com/blog/2007/07/03/how-to-marry-the-ultra-rich/ Wed, 08 Feb 2012 16:39:44 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Will (green) http://www.cydeweys.com/blog/2007/07/03/how-to-marry-the-ultra-rich/comment-page-1/#comment-5181 Will (green) Thu, 05 Jul 2007 21:20:28 +0000 http://www.cydeweys.com/blog/index.php/2007/07/03/how-to-marry-the-ultra-rich/#comment-5181 I don't think that advice is really old-fashioned. I mean, what do they call the "oldest profession on earth"? I don’t think that advice is really old-fashioned. I mean, what do they call the “oldest profession on earth”?

]]> By: llywrch http://www.cydeweys.com/blog/2007/07/03/how-to-marry-the-ultra-rich/comment-page-1/#comment-5179 llywrch Thu, 05 Jul 2007 20:09:07 +0000 http://www.cydeweys.com/blog/index.php/2007/07/03/how-to-marry-the-ultra-rich/#comment-5179 No, the reason why "marrying a millionaire" is no longer cool is -- inflation. A million dolllars doesn't buy as much as it used to, in the days where the interest from a single million provided enough income to comfortably live on. (This was the case as late as the 1970s, IIRC.) Nowadays, if you own your house free & clear, have an adequately-funded retirement fund, have a rainy-day fund to cover emergencies, carry no credit-card or other personal debt, chances are quite good that you are worth a million dollars -- which is why the first two categories are usually omitted from magazine surveys about personal wealth. Such millionaires are very common: one of my best friends qualifies (& he has admitted that he couldn't afford medical coverage if his longterm girlfriend/newly-married wife didn't get it thru her employer), & so does my ex-brother-in-law the farmer (a case of being land-rich & frugal). I've read that the hardest way to make money is to marry it, so if you're attractive & willing to work hard, why not adjust your sights upwards based on inflation? Geoff No, the reason why “marrying a millionaire” is no longer cool is — inflation. A million dolllars doesn’t buy as much as it used to, in the days where the interest from a single million provided enough income to comfortably live on. (This was the case as late as the 1970s, IIRC.)

Nowadays, if you own your house free & clear, have an adequately-funded retirement fund, have a rainy-day fund to cover emergencies, carry no credit-card or other personal debt, chances are quite good that you are worth a million dollars — which is why the first two categories are usually omitted from magazine surveys about personal wealth. Such millionaires are very common: one of my best friends qualifies (& he has admitted that he couldn’t afford medical coverage if his longterm girlfriend/newly-married wife didn’t get it thru her employer), & so does my ex-brother-in-law the farmer (a case of being land-rich & frugal).

I’ve read that the hardest way to make money is to marry it, so if you’re attractive & willing to work hard, why not adjust your sights upwards based on inflation?

Geoff

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