On Tue, 19 Apr 2011 17:34:27 -0400, Harryk
wrote:

Wayne B wrote:
On Tue, 19 Apr 2011 12:56:55 -0400,
wrote:

People who spend half their year cruising on a posh 50' yacht are
neither middle income nor middle class.

Nonsense. Who says that the middle class can't retire comfortably?

For what it's worth, private banks and other high end investment
management firms now define "wealthy" as those with a net worth over
$5 million, and that's the lower tier. Their top tier clients
generally are over $20m. I know a few people who qualify but not too
many.



Now I know what you use to keep your boat afloat, w'hine. It's your
delusional bull****.

You don't have to take my word for it:

http://en.wikipedia.org/wiki/Private_banking

http://en.wikipedia.org/wiki/High_net_worth_individual

Those numbers are a bit out of date although somewhere in the
ballpark.

I worked for a well known private bank back in the early 90s. At
that time they had two tiers of "high net worth" (wealthy) clients.
Tier 1 was $1m to $10m, Tier 2 was $10m and over. That has since been
changed, now ranging from $5m to $20m at Tier 1, and Tier 2 is now
over $20m. Make some calls if you'd like. They'll be happy to talk
if you qualify. I don't, but still know people who work there. Let
me know if you need a reference.