Personal Finance

3819 readers

1 users here now

Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. Join our community, read the PF Wiki, and get on top of your finances!

Note: This community is not region centric, so if you are posting anything specific to a certain region, kindly specify that in the title (something like [USA], [EU], [AUS] etc.)

founded 1 year ago

MODERATORS

WandererLagomorph799@lemmy.ml

nieceandtows@programming.dev

nieceandtows@lemmy.ml

Survey: Almost 50% of Americans Consider Themselves ‘Broke’ (www.marketwatch.com)

submitted 3 months ago by return2ozma@lemmy.world to c/personalfinance@lemmy.ml

55 comments fedilink hide all child comments

you are viewing a single comment's thread
view the rest of the comments

[–] spamellama@lemmy.world 1 points 2 days ago

Sure, but let's say they spent 20m. Then their net worth would be under a billion and the next couple of years of earnings would have a lower tax rate.

Even if they never were able to make money again, 20m goes into a billion 50 times. They could overspend for 50 years without making a cent on investments.

I'm sure they'd come up with fun new accounting loopholes though so their assets didn't appear to increase.