How do you know if you are in the investor class?

Well, if in a divorce settlement it is determined your annual income needs exceed $1 million dollars.  If you made $100,000 a year, not a bad income, then it would take you ten years to equal a million.

As People reported about Heather Mills divorce settlement from Paul McCartney,

The judge calculated Mill’s annual income needs at about $1.2 million and included a sum of $5 million for her to buy a property in London.

A provision for daughter Beatrice consisting of periodical $70,000 payments was included, and McCartney has agreed to pay for her nanny and school fees. Of the provision, Mills said, “Beatrice only gets $70,000 a year so she is obviously meant to travel B class while her father travels A class. But obviously I will pay for that.”

The court has imposed a blanket order preventing disclosure of details revealed during the court case and in documents tendered to the court.

Yeah, while these are celebrities, a slightly different subset of the investor class, the fact that a periodic payment (plus nanny and I am sure very expensive private school paid for) of $70,000 is insufficient to raise a child, at least in A Class life style, displays the inability of some to understand what the average person makes do with.

I mean we have people losing their homes, families going bankrupt over health care costs.  We have kids going to school sick so their parents ,without paid sick time, don’t miss work and struggle even harder to keep food on the table.  And yet, we still have Heather Mills complaining that $70,000 to raise a child is not enough.

Now I am sure that Heather Mills is involved with a lot of charities, and provides great hope and inspiration to amputees.  I commend her for that, but I wanted to point out how out of step that comment is with what the average person considers sufficient funds to raise a family.

-Josh

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1 Comment

  1. James Bond said,

    March 21, 2008 at 12:58 am

    Aw c’mon! Why don’t you admit that you are making AT LEAST a million a year on this blog? That blogroll must just rake in the cash!


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