Quote:
Originally Posted by OrangeBlossomBaby
A millionaire doesn't have only a million bucks, and never another dime for the rest of their lives. They have investments, and interest, and dividends, pensions and stocks and whatever the heck else they have.
A millionaire who has kids young enough to be sent to college, is still working. That means they're still earning an income. They can afford a $500,000 home, that they only have to buy once - and set aside money every year to put their kids through college.
I was talking about "affordability" in general, not "whether or not a millionaire can afford to live in The Villages. That's why I put that part in another paragraph.
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If a millionaire blows $500,000 on his home, pays the costs to maintain said home, pays yearly college tuition for a couple of kids, pays income taxes, maintains vehicles plus everyday expenses and has
some money in the shaky stock market… I’d say he’s walking on very thin ice. Now if he is a multi-millionaire and not in the stock market, that’s a different story. It’s hard to save when you’re stretched that thin.