Let’s say you are 44 years old and over the past 10 years earned over $2.3 million in gross income. For someone who averaged $230,000 a year in annual income, what should your net worth be? If you follow my Net Worth By Income guide, your net worth should equal roughly 8X your average annual income.
Instead of having a ~$1,800,000 net worth, Marco Rubio (R) has an estimated $50,000 – $100,000 net worth. Are you kidding me? Where on Earth did the rest of the money go? I guess it’s understandable why Senator Rubio raided his $68,000 IRA retirement account and paid penalties given he owns an $80,000 boat and a $50,000 Audi Q7 if he’s starving for cash. But if he can’t control his spending impulses, he’s NOT someone I want running America. Thankfully, he came to his senses and dropped out!