A $75,000 horse sounds like the kind of purchase a financial advisor will reasonably question. But what if the person buying it is worth $8 million?
That’s the situation Caroline, a 54-year-old early retiree in Dallas, brought to “The Ramsey Show” recently. She wants to buy a quarter horse for reining competitions, but her financial advisor thinks she should let her investments grow more first. Caroline wasn’t convinced.
A $75,000 Horse With $45,000 in Annual Expenses
Caroline has a $7 million investment portfolio and an overall net worth of about $8 million. She said her portfolio has returned 16.47% year over year.
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