Actually, I posted I had a whole lot of money in my Roth. There are over 3,000 billionaires in the world, but only one Roth billionaire(certainly not me), so it is a much more confined investment space. If I had $1k in my wallet, that would be a whole lot of money in my wallet, but would not make me wealthy.You posted that you had "a whole lot of money."
$3 million in liquid net worth is often considered wealthy, but we all know it is far more complex than that. At 4%, that would be $120k before taxes, which really is somewhere between middle class and upper middle class, certainly not wealthy. And 4% may well be too high.Wealth is subjective.
The men at my club say that wealth begins at 3 mil.
Maybe I am overly defensive, but retirement could last decades. A cousin of mine retired at age 40, when we have a great grandmother who lived to 101. If he lives until 101, that is 61 years of retirement. If he loses it all, then he has to start again at age 80?
If Earl feels he is wealthy, and thinks his investment "guru" can promise that he will never have any losses, well good luck to him.