Question

If a professional baseball player had recently retired from the sport and had accumulated assets of​ $15 million, but is currently teaching part time at a local high school for​ $15,000 a​ year, then he​ has:

A.

low income and low wealth.

B.

high income and low wealth.

C.

low income and high wealth.                            

D.

high income and high wealth.

Answer 1

Introduction

Though, wealth and income are relatively subjective and it all depends on the expenses of any individual and the general price levels prevailing in the country.

A high net worth individual is generally regarded as someone who has higher availability of funds, and can generate more funds for himself over the years.

Often at times people fail, when they think that their reserves are big enough for them to be able to manage their expenses. It is always recommended therefore, to have a stable source of revenue generation, even when someone.

Case Specifics:-

In the case above, the football player has a pile of money which is $15 Million thus indicating high wealth. Further considering that most people do not make 15000$ a year from normal jobs alone, the income can also be said to be high considering the cost of living and the average income of most people also the fact that this is part time work, suggests that the income is extremely high.

Therefore the correct answer in this case is option (D)

Please feel free to ask your doubts in the comments section