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While they definitely are not “blue collar”, income is not wealth. It is a mistake to conflate income and wealth, the implications are very different. One can h
by jandrewrogers 6y ago
While they definitely are not “blue collar”, income is not wealth. It is a mistake to conflate income and wealth, the implications are very different. One can have a high income today and be destitute tomorrow absent wealth. Wealthy people are a subset of those with high incomes.
- refurb 6y agoYour definition doesn't really align with how "wealthy" is used. If you're making $400k per year, how long before you start to accumulate substantial wealth? Pretty quickly I'd say. Sure it might not be millions, but if you sock away $200k at age 25 after 3 years, you have more wealth than 99% of people your age. "Wealthy" is not limited to wealth alone. If you're making $2M a year and have no savings, you're still "wealthy". And people with large amount of wealth (your definition) can still become destitute. There are plenty of examples.
- Hydraulix989 6y agoStarter homes in San Francisco start at $1M. That $400k post tax is mostly going into housing.
- refurb 6y agoYeah, but owning a single family home in one of the most desirable cities in the US makes you rich. That’s something 90% of America couldn’t dream of doing.
- jpetso 6y agoBeing able to own a starter home outright within 3 years or so sounds pretty sweet to me. Many people need decades to pay off their mortgage.