Proof of use: A new crowdfunding threshold for passionate users26.76

Right now, most participants in U.S. private placements must be “accredited” investors, meaning $200,000 annual income over multiple years or $1 million in net worth, not including your primary residence. These numbers have not changed since 1982, though inflation in the intervening decades has more than halved the real wealth they represent.

This means your mother, who owns a vacation home on Cape Cod, may be getting phone calls from boiler room broker-dealers. The wealth standard means your mother is considered qualified to evaluate such offers; a more sophisticated, but less wealthy individual is not.

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