Sacramento Business Journal – by Mark Anderson , Staff writer
Date: Friday, January 14, 2011, 3:00am PST
“Wealthy is the ability to do what you want to do — when you want to do it — and you don’t have to ask anyone’s permission,” said Keith Springer, principal of Springer Financial Advisors in Sacramento.
A person who earns $250,000 annually triggers near the top federal income tax bracket. After taxes, that income leaves about $125,000, and for a family of four, that is comfortable, but not wealthy, Springer said.
“What is wealthy for me might not be for someone else. I would say $5 million is wealthy,” Springer said. “If I had $1 million, that would be nice, but I would still have to work.”
The minimum for a client to start investing with Springer is liquid assets of $250,000.
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