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But heres the thing he explained that it really depends on where you live.
In Manhattan or San Francisco, you might need closer to $5 million tomaintain that upper-class lifestyle.
In a smaller Midwestern city, $2.5 million could put you in the top tier.
That includes everything investment accounts, real estate equity, retirement savings and other assets minus debts.
Forbes reported in 2024 thatdiversifying your income streamsis essential, the primary benefit of this approach being financial security.
He explained that level of passive income is a key marker of upper-class net worth.
According to Lokenauth, the distribution of your assets matters just as much as the total.
Another factor he said thats often overlooked is geographic cost differences.
Id say location impacts the required number by plus or minus 40% easily.
Lokenauth said this usually means an extra $300,000 to $500,000 earmarked just for healthcare.
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