This is a nice article to point out some of the cash flows and concerns at the UHNW level. However, in our professional opinion, they are low on the salaries of household staff by a large margin.
Let's begin with the conventional wisdom. Money can't buy happiness. It won't get you into heaven. It is probably the root of at least some evil. Countless philosophical treatises, religious texts, and class-dissecting novels have testified to these truths. Okay. But what if there were a specific amount of money that fostered optimal contentment?…
…One unscientific way to come up with that number would be to imagine the life of a typical wealthy family living in New York City, one of our nation’s epicenters of extravagance. Say, a married couple in their forties with two teenage kids. They have an apartment on Fifth Avenue, a weekend house in the Hamptons, and a vacation spot in the Caribbean. There are parties, private jet trips, boarding school for the kids—all the trappings.
What would the real-life people who advise, transact with, and study this type of family say about their money and happiness? Could these frontline experts—the ones who witness both the joys and frustrations of the uber-wealthy—predict how much money a fictional family would have to have amassed to fund their one-percenter dreams? And stay happy and fulfilled when it all comes true?
WHAT DOES HAVING IT ALL COST IN 2018?
See the full breakdown at: Town & Country online