At Pillar Wealth Management, we provide wealth management services for investors that have $5 million to $500 million in liquid investment assets. Such investors, some of whom enjoy a $30 million net worth lifestyle, can learn about some of our specialized strategies by requesting a copy of our book7 Secrets To High Net Worth Investment Management, Estate, Tax, and Financial Planning.
Is a net worth of 30 million a lot?
In today's economy, any individual with a net worth of $30 million is considered to be very wealthy, or in other words, they are an ultra-high net worth individual.
How many people in the US are worth over 30 million?
There are approximately 70,000 ultra-high net worth individuals in the United States. This represents about one-third of the global ultra-high net worth population.
How many people in the world have a net worth of 30 million?
The ultra high net worth population consists of approximately 600,000 individuals globally. Their combined net worth is about $35 trillion, and 12% of them live in North America.
Is a net worth of 30 million considered rich?
Individuals with a net worth of $30 million represent only 0.003% of the population, but they hold 13% of the world's wealth. In the US, having a net worth of $2 million is considered wealthy.
How to invest $30 million dollars?
Investing $30 million should include a mix of investments to protect the principal, for example, real estate, bank accounts, and some stocks, bonds, mutual funds, and ETFs.
What kind of return can I expect on 30 million dollars?
With a diversified asset allocation, you could expect to earn about 5% on your investments, which involves taking risks. A safe investment, like a bank account, will pay about 1%.
What do I do with $30 million?
Start by thinking about your long-term goals, which should include saving for retirement. Once you have a retirement plan, you will know how much you can spend now.
How can I get to a 30 million dollar net worth?
Start saving as early as possible and start investing as early as possible, using a diverse asset mix. Your wealth will grow over time as you learn what investments are good for your needs.
How do you turn $3 million into $30 million?
The key to growing and protecting wealth is to invest in a good mix of safe and risky assets. Advice from an expert wealth manager can help you grow $3 million to $30 million.
What kind of lifestyle could you have with 30 million dollars?
With $30 million, you can live a very comfortable lifestyle. You could live in a mansion, travel extensively while staying in the best hotels, and own a yacht and a private plane.
Understanding the $30 Million Net Worth
If you have managed to attain a net worth of $30 million or more, congratulations! This makes you one of the 70,000 Americans that have such a high net worth. Still, you may be wondering, “Is a net worth of $30 million an ultra-high net worth?” While no legal standard defines the boundary between high and ultra-high net worth, many financial experts consider $30 million to be the minimum for ultra-high net worth individuals.Learn more about the $30 million net worth lifestyle by speaking with one of our wealth managers.
What Investors With a $30 Million Net Worth Lifestyle Should Know
- Meeting Your Portfolio Goals
- Managing Your Assets
- Planning for a Sustainable Retirement
- Leaving Wealth For Your Family
- Becoming More Tax Efficient
Possessing an ultra-high net worth means you are unlikely to go bankrupt anytime soon. However, investors that wish toprotect and sustaintheir $30 million net worth lifestyle should be aware of certain challenges that lie ahead. These include:
Testimonial From Satisfied Clients
Chris Snyder
Thank you Chris for your guidance over the past 17years. We made it through several market swings and covid. We have a comfortable feeling working with you. And it is always sharing our stories over the years of our children’s growth. ◼ Relationship to Financial Advisor: Current Client ◼ Compensation: This reviewer received no compensation
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Steve
I highly recommend Pillar Wealth Management
At 51, I lost my husband to cancer. We owned our own business, so the loss of considerable income at his death was a magnificent hardship. In addition, a significant personal investment became insolvent, causing the loss of millions. A happy, comfortable, and financially-secure life was gone in an instant. My home and a few
…
Lori S.
Pillar Wealth Management
When I retired the need arose to have help with balancing our investment risk level. Our trusted Accountant recommended Pillar Wealth Management. In the past we took a sizeable loss and could no longer take that level of risk with the balance of savings for retirement. Chris helped us transfer these investments and rebalances our
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Anita K.
Testimonial from Col. Robert B.
I have worked with Chris Snyder, handling my investments for over 30 years. During this time I developed a personal relationship with Chris and am very pleased with the personal attention he has paid to my investments. When I was getting ready to retire I looked into what my retirement income would be. I wanted
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Robert B.
Chris and Hutch
Chris and Hutch knew they had to build their business based on personal contact and trust. They invested in this aspect and offered seminars over free dinners to get to know their clients on a personal level. This allowed us to get to know Chris personally and realize that we see the world and politics
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Andrea
Thanks so much for making our life effortless
With our retirement we were searching for an advisor to invest our money. We found an advisor who seemed knowledgeable. She promised the moon with large investments. When our paperwork arrived it wasn’t anything we agreed upon. We were so lucky to have quickly found Chris. He stepped in and invested our money. We have
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Patty
Chris Synder & Pillar Wealth Management
In 2022, I moved my portfolio over to Chris Snyder and his team. They’ve been a great asset in advising me on everything needed to plan for my short term financial needs as well as getting me to my retirement which is coming in a few years. They are very approachable, detailed and explain the
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Lynn G.
Chris Snyder & PWM
Prior to signing up with PWM we had self-managed our investments. That worked out pretty well with the ongoing bull market. Even with the occasional downturn, paper losses were quickly reversed. But as retirement neared it became clear a better plan was needed to turn those investments into a reliable income stream that would facilitate
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Keith B.
Chris Snyder
It is our pleasure to write in support of Chris Snyder. After more than 16 years of working with Chris we feel fortunate to have access to his professional advice always with prompt, clear and up to date answers to our questions. The professional work he does has been continuous and gives us confidence that
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Jim
Chris Snyder
Chris has been a wonderful financial advisor. He listens and makes adjustments if necessary. I believe him to be fair, honest, intelligent and knowledgeable. ◼ Relationship to Financial Advisor: Current Client ◼ Compensation: This reviewer received no compensation for this review. ◼ Conflicts of Interest: There are no material conflicts ofRead more “Chris Snyder”
Barbara
Right decision to have fiduciary financial advisor
Prior to Pillar Wealth Management, our investments were in CDs, non-interest checking & savings, annuities, IRAs, 457Kplan, Term Life Insurance, etc. We felt overwhelmed managing on our own and knew we need a fiduciary financial advisor to help us simplify and better manage our finances. In January 2022, my sister recommended Christopher Snyder (Pillar Wealth
…
Read more “Right decision to have fiduciary financial advisor”
Gaoiran
Great firm!
My husband started an account with Chris Snyder over 17 years ago. Chris has been an invaluable help during all the market ups and downs. He is also always ready to help me think through other financial aspects that come up and will refer me to someone else if he doesn’t feel he is the
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Linda S.
Chris at Pillar Wealth
My husband and I have been extremely pleased with Chris’s handling of our investments. He always has our best interests in mind. He will answer any question we have and explain why he has done what he has done. If we prefer another or different strategy we discuss it with Chris and he gives us
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Judy
5 Stars
I have been a client of Pillar Wealth for over 25 years. My advisor is Chris Snyder and he is wonderful, we have shared so much about our families for 25 years. He knows my goals and has helped me achieve them financially. I trust Pillar Wealth implicitly. ◼ Relationship to Financial Advisor: Current Client
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Gloria R.
5 Stars
Chris you’ve been our advisor for many, many years. We couldn’t be happier with all the service you’ve provided for us. ◼ Relationship to Financial Advisor: Current Client ◼ Compensation: This reviewer received no compensation for this review. ◼ Conflicts of Interest: There are no material conflicts ofRead more “5 Stars”
James
Exceptional Advisors
I have been with Pillar Wealth Management for over 25 years. We have weathered more than a few ups and downs. Chris has always steered me in the right direction. When I hear from others how they have lost so much with their current advisors, I am reminded of the guidance I get from everyone
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Thomas W.
Long time Association
We have worked with Chris for many years and feel like we are friends. I was trying to find the year that we began working with Pillar, but couldn’t find it. We met Chris in Pleasant Hill at a seminar. We invested a small amount, as that is all that we had at the time
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Marilyn L.
Our financial advisor for 27 years.
My husband and I have had the pleasure of working with Chris Snyder at Pillar Wealth Management since 1996, 27 years. Lots of life happened in those years, assessing our financial readiness to retire, retiring in California, moving to France, resettling, moving to Florida, setting up trusts, husbands passing, moving to Arizona. Chris helped us
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Elaine S.
Chris Synder
I’ve been a Chris client for about 25 years. Through those years Chris and I and our families have grown together. Chris has helped me through some very difficult times and has kept my investment including monthly withdrawals at pretty much the same as my beginning investment. I am very comfortable with Chris as my
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JMenzhuber
Hutch, Chris & Pillar Wealth Management
Hutch, Chris and staff are awesome! they are very professional and amazingly responsive. We are newer clients and recently moved to Idaho and they have been so helpful to us! I learned more talking to Hutch for 10 minutes about some specifics on accounts than I ever did from a previous advisor we had for
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Mark G.
Chris, Hutch and Pillar Wealth Management
One of our best-ever decisions: turning to Hutch Ashoo and Chris Snyder at Pillar for financial guidance. My wife Bonnie and I were introduced to them in 2009 when we sold our small tech company and retired. Baffled by the complexities of managing our modest finances to ensure a safe and comfortable retirement, we interviewed
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Bonnie
1.Meeting YourPortfolioGoals
Being able to invest wherever you please may not necessarily guarantee that you meet your investment goals. For example, many investors wish to diversify their portfolios by acquiring a wide variety of assets spread across multiple industries. However, this creates the challenge of knowing where to invest.
The more diverse your investment interests are, the less likely it is that you will possess in-depth expertise in each market or industry. Populating your portfolio with less optimal investments can negatively impact your portfolio performance. This makes it vital for investors to seek help with this task.You can learn some strategies to improve your portfolio performance by reading our special performance guide.
2.Managing Your Assets
Ultra-high net worth investors with large portfolios, who may have a $30 million net worth lifestyle, may also have troublekeeping track of their assets. This is a natural downside of having many diverse assets. Such portfolios are difficult to monitor, which can lead to disaster in the future.
Investors must stay up-to-date with each asset’s performance if they wish to ensure their portfolio is performing optimally. However, they may be focused on other wealth-building or protection tasks.Investors with $5 million or more in assets can learn about some of our own investment management strategies by reading our guide.
3.Planning for a Sustainable Retirement
Sustaining a $30 million net worth lifestyle typically requires a fair amount of long-term planning. This means ultra-high net worth investors usually possess some experience with financial planning. These investors will also need to put effort intoplanning their retirement.
Possessing a large net worth means you aren’t likely to go bankrupt during retirement. However, if you aren’t actively earning income anymore, you may need to downgrade your $30 million net worth lifestyle to make your savings last as long as possible. Many investors aren’t prepared to give up on the comforts and luxuries they have grown accustomed to. Therefore, they need to plan for their retirement well in advance.We talk about key retirement planning strategies for investors in our special guide.
4.Leaving Wealth For YourFamily
Many high net worth investors are driven to grow and protect their wealth so that they can provide a comfortable life for their family, in addition to having a $30 million net worth lifestyle. These investors should also consider how they will distribute their wealth to their children and beneficiaries following their passing.Please speak with our expert wealth managers to learn more about the estate planning process.
The truth is that the wealth distribution process can be needlessly complicated if investors do not plan for it beforehand. For any investor who passes away without a will, their wealth will be distributed by the slow and often costly legal system. This creates unnecessary delays and introduces the risk of your family members not receiving theamount of the wealth you intendedfor them to receive.
Investors can learn more about protecting their wealth, including sustaining a $30 million net worth lifestyle, by requesting a copy of our bookThe Art of Protecting Ultra-High Net Worth Portfolios and Estates – Strategies For Families Worth $25 Million To $500 Million.
5.Becoming More Tax Efficient
No investor is fond of paying their taxes, which can be challenging even if you have a $30 million net worth lifestyle. They may assign accountants or bookkeepers to help them with this task so that they can avoid thinking about it.
However, it is vital for investors to pay careful attention to the taxes they pay on each of their assets and income sources. The truth is that most investors are paying much higher taxes than needed. There are a variety of strategies out there to help investors.We discuss the importance of estate planning in more detail in our special guide for investors with $10 million or more.
How a Wealth Manager Can Help $30 Million Net Worth Investors
- Portfolio analysis
- Asset management
- Retirement planning
- Estate planning
- Tax planning
You may be wondering, “What’s the best way to live off 30 million dollars?” There is no simple answer to this wealth-related question as each investor has their own lifestyle and goals to achieve while protecting their wealth. If you want to know, “How do I protect my $30 millionnet worth lifestyle?”, the best strategy is to seek expert assistance from a professional such as a wealth manager.
Wealth managers are a special type of financial advisor. They cater exclusively to individuals with a high or ultra-high net worth and can assist them with protecting and growing their wealth. They can advise you on how to maintain a $30 million net worth lifestyle, if that’s your net-worth bracket. Wealth managers offer numerous services to help investors with specific financial goals. Some of these services include:
1.Portfolio Analysis
A wealth manager’s portfolio analysis services can help you in many ways. The wealth manager takes the time to study your portfolio carefully andidentifies any problems or riskspresent. They then inform you about these issues and recommend strategies to avoid them or to minimize their potential impact.
All investors should use portfolio analysis services at some point. If nothing else, these services help you understand where you stand in relation to your portfolio goals, which may include maintaining a $30 million net worth lifestyle.Please set up a video meeting with one of our wealth managers to learn more about our portfolio analysis services.
2.Asset Management
Wealth managers can also help investors with managing their portfolios. They can keep up with each asset and offer regular reports on their performance. This allows investors to focus their efforts on other wealth-building areas and receive updates as needed.
Wealth managers are well-suited to handle this task because they are well-versed in asset management. They understand the complicated ins and outs of this process and know when to step in. If you’re looking to maintain a $30 million net worth lifestyle, you depend on your assets, so it is in your best interest to have them managed by an expert.
3. Retirement Planning
Investors who are concerned aboutachieving their dream retirementcan benefit from using retirement planning services. And even those with a $30 million net worth lifestyle need to plan for how they will continue to have that lifestyle in retirement. A wealth manager will take the time to learn about your retirement vision. They can then help you estimate your retirement expenses. Finally, they can create a tailored strategy to help you achieve a retirement with all the luxuries and comforts you currently enjoy.
These professionals may encourage you to start budgeting to help you boost your savings before retirement. They may also advise you to selectively invest in stable assets that offer passive income. Such strategies can help put your mind at ease as you approach retirement.
4.Estate Planning
Investors that wish to control how their wealth will be distributed following their passing can benefit from a wealth manager’s estate planning services. Having had a $30 million net worth lifestyle over time means you want those assets to be distributed appropriately after your passing.
These professionals can help you with setting up a will that describes exactly how you wish your wealth to be distributed. They may also assist you with setting up trusts. Both strategies are vital as they help youmaintain better control of your wealthafter your passing.
5.Tax Planning
As mentioned earlier, many investors pay higher taxes than they need to. Wealth managers are familiar with various strategies to help investors reduce their tax burden. This includes restructuring their portfolios tomake them more tax-efficient.
In some cases, the wealth manager may recommend changing your state residency to reduce your taxes. These strategies can be helpful for anyone that believes they are paying more taxes than they need to.
Is a Wealth Manager Worth It?
Investors that aren’t familiar with wealth managers may be wondering if it is worth using such services. The benefits of hiring a wealth manager generally outweigh the costs by a wide margin.
Wealth managers generally charge a fixed annual fee for their services. This is based on the value of the assets entrusted to them. Clients can reach out to these professionals for assistance as often as needed and without having to pay extra each time. This means they can receive specialized advice and guidance on important financial matters such as wealth protection and growth.
The right wealth manager can offer guidance on complex matters. This includes assistance with executing advanced financial strategies without having to possess knowledge of them. This gives you access to a wide wealth of knowledge at a relatively affordable cost.
Why Choose Pillar Wealth Management?
There are many wealth management firms to choose from across thecountry. However, few wealth management firms can match the quality of personalized services we provide at Pillar Wealth Management. Our wealth managers have amassed over six decades of experience with helping clients. They understand the different types of hurdles they face in their wealth-building and wealth protection journey.
Our wealth management experts take the time to understand your unique background and financial goals. They then create special financial plans tailored to your exact needs. This winning strategy has helped numerous clients in the past. Protect and grow your $30 million net worth with the assistance of a professional.Please set up a complimentary introductory video meeting with our wealth managers to get started with our services.
Problems Faced by 30 Million Net Worth Individuals
Who Has an Ultra-High-Net-Worth?
Ultra-high net worth individuals are those having a net worth of at least $30 million — what problems could they face? After all, UHNW individuals are the richest people in the world. Only about 200,000 people, globally, have that much wealth. UHNW individuals can own just about anything they may want to have. And their number is growing amid increasing income inequality, where many people find it hard to make ends meet, paying their bills every month while putting food on the table.
Still, by poor money management and unwise investments, even UHNW individuals can face bankruptcy and foreclosure, losing everything to bad decision-making.
Moreover, UHNW individuals are constantly facing problems such as the challenges of tax and estate planning. They may also worry about how to maintain their lifestyle over a period of decades. Finally, they are concerned about protecting their wealth for future generations.
Challenges of Tax and Estate Planning
Because ultra-wealthy individuals own such a big piece of the pie, it’s easy to see why tax codes will evolve to transfer some of that wealth to the other 99%. Thus, UHNW individuals who want to protect their wealth are concerned about their tax burden.
Generally speaking, UHNW individuals do not pay their fair share of taxes, which is due largely to tax loopholes and the benefits of low capital gains tax for the richest — gains taxed at only 20%. People ask why these gains are not taxed as ordinary income. Moreover, shouldn’t the highest income tax bracket be higher for the richest people who have so much more than everyone else? All this is more than enough to make them worry.
Estate tax, which is tax levied on the value of an estate when the owner dies, is also worrisome for ultra-high net worth individuals. There is a federal estate tax, and some states also levy an estate tax. At the federal level, the estate tax is only levied on amounts over $12.06 million. The federal estate tax ranges from 18% to 40% (for amounts up to $10,000 and over $1 million, respectively). So, if your estate is valued at several million beyond the exemption, your estate tax bill can be hefty. Luckily, if you leave everything to a spouse, there is no estate tax. Also, only six states levy an inheritance tax, which is paid by the beneficiary of an estate’s assets.
Challenges of Retirement and Protecting Wealth
Many UHNW individuals earn large salaries that they will have to give up when they retire. Because they are used to having plenty of money to spend, buying whatever they feel they want or need, they may not have good money management habits, like sticking to a budget. Overspending can be a slippery slope!
Moreover, the ultra wealthy may have an UHNW, but often, their wealth will be tied up in assets that cannot be easily converted to cash. So, they need to be concerned about their asset allocation years before they expect to retire.
Many UHNW individuals become extremely wealthy by investing in products that have higher risk than vehicles such as CDs, Treasury bills, or bank accounts. Then, when the market takes a dive, they can lose large sums practically overnight, putting a big dent in their lifestyle habits. They may face having to sell an overpriced property during a housing crisis so they can maintain a certain level of luxury, only to find that real estate isn’t moving as they might expect.
Thus, there’s plenty to worry about if you want to protect your wealth, and a good wealth manager is someone who knows how to mitigate the problems faced by UHNW individuals.
To be 100% transparent, we published this page to help filter through the mass influx of prospects, who come to us through our website and referrals, to gain only a handful of the right types of new clients who wish to engage us.
We enjoy working with high net worth and ultra-high net worth investors and families who want what we call financial serenity – the feeling that comes when you know your finances and the lifestyle you desire have been secured for life, and that you don’t have to do any of the work to manage and maintain it because you hired a trusted advisor to take care of everything.
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The concepts covered in the provided article span a wide range of financial aspects related to ultra-high net worth individuals and wealth management. Let's break down the key concepts and information:
Financial Metrics:
- Net Worth: Refers to the total assets owned by an individual or entity minus liabilities.
- Ultra-High Net Worth (UHNW): Typically describes individuals with substantial wealth, often starting from $30 million or more in net worth.
- Population Statistics:
- The number of individuals with a net worth of $30 million in the US is approximately 70,000, making up about one-third of the global UHNW population.
- Globally, there are about 600,000 UHNW individuals with a combined net worth of about $35 trillion, with 12% residing in North America.
- Wealth Distribution: Individuals with a $30 million net worth represent only 0.003% of the population but hold around 13% of the world's wealth.
Investment Strategies and Returns:
- Investment Allocation: Suggested allocation for a $30 million portfolio includes real estate, bank accounts, stocks, bonds, mutual funds, and ETFs to protect the principal.
- Expected Returns: With diversified asset allocation, a 5% return on investments is suggested, while safer options like bank accounts might yield around 1%.
Financial Planning:
- Long-term Goals: Emphasizes the importance of setting long-term goals, including retirement planning, based on individual financial needs.
- Wealth Accumulation: Encourages early savings and investments using a diverse asset mix to grow wealth over time.
- Wealth Maintenance: Advises on maintaining and growing wealth through a balance of safe and risky assets, often guided by expert wealth managers.
Lifestyle and Financial Services:
- $30 Million Net Worth Lifestyle: Describes the lifestyle possible with such wealth, including luxurious living, extensive travel, owning properties, yachts, and private planes.
- Wealth Manager Services:
- Portfolio Analysis: Detailed assessment and guidance on portfolio health.
- Asset Management: Expert management of various assets to optimize performance.
- Retirement Planning: Customized strategies to ensure a comfortable retirement.
- Estate Planning: Strategies for effective wealth distribution after passing.
- Tax Planning: Minimization of tax burdens through strategic financial planning.
Challenges Faced by UHNW Individuals:
- Tax and Estate Planning: Concerns about tax burden, loopholes, estate tax, and inheritance taxes.
- Wealth Protection: Challenges in maintaining wealth during retirement, managing assets, and dealing with risks associated with investments.
Testimonials and Recommendations:
Various clients' testimonials praising the services of Pillar Wealth Management for portfolio management, financial guidance, and retirement planning.
Author Perspectives:
Insights from Hutch Ashoo and Chris Snyder, emphasizing the complexities faced by UHNW individuals and the importance of expert wealth management.
This comprehensive breakdown covers the broad spectrum of concepts related to ultra-high net worth individuals, wealth management, investment strategies, financial planning, and challenges associated with maintaining substantial wealth.
