Sounds about right.
If you only have $3.4 million, you’re not wealthy. Real wealth now starts at $10 million.
Of course, you can live very nicely if you have $3.4 million, but you can’t spend too freely.
Are they talking about just New York City, just Manhattan within New York City, the entire New York metropolitan area?
I see they quote Manhattan rent. I know that many in New York want to be in Manhattan, and they pay the price to be there, instead of in the outer boroughs or suburban areas.
Housing costs seem to be way out of line with the incomes needed to support those housing costs. And that is happening in many parts of the country, not just New York and San Francisco.
too bad they don’t say WHICH “net worth”: net worth and LIQUID net worth are two different balls of wax ...
financially comfortable....
An old joke in several versions (this is the Earl Nightingale one) had a middle aged Jewish businessman who was hit by a car in NY. He was brushed by it and fell onto his back.
A cop who knew him ran over and talked to him after calling for a rescue crew and giving him his own coat as he lay there.
“Mr.Birnbaum, are you comfortable?”
“I wouldn’t say I’m comfortable but I make a pretty good living.”
You need that much to afford the property taxes on an average middle-class house in Westchester County
Hell I could live on $2-3000 per month and be happy
Indians offer beads for NY its all it’s worth.