5 ms·

Just how bad at finances are you and people around you if 150k just really isn't that much? That literally places you amongst the richest 1%. Not metaphoricall

Just how bad at finances are you and people around you if 150k just really isn't that much? That literally places you amongst the richest 1%. Not metaphorically, literally. A couple of years worth of saving is enough to give you passive income to never need to work again for food or shelter.

DC1350 5y ago
$150k is not even enough to buy a small home near your workplace in a lot of cities. Janitors had better living conditions 50 years ago than $150k earners do today
- Moodles 5y ago
  You sound more out of touch than an alien from outer space. No way is 150k worse quality of life than a janitor 50 years ago.
  - Der_Einzige 5y ago
    Many janitors are unionized and paid quite well. I think you're the out of touch one here.
    - Moodles 5y ago
      Data or gtfo
- TheTrotters 5y ago
  > Janitors had better living conditions 50 years ago than $150k earners do today This is just batshit crazy.
- dudeman13 5y ago
  >Janitors had better living conditions 50 years ago than $150k earners do today Utter bullshit. >$150k is not even enough to buy a small home near your workplace in a lot of cities Live within your means for 5 years, invest the 70k/y excess money into index funds. You can live of dividends anywhere in the world that isn't a capital in a first world country. Without even losing money. Literally the 1% pretending to be poor and living in worse conditions that janitors 50 years ago. Yeah, right.
  - whimsicalism 5y ago
    It's utterly amazing to me how far up the wealth pyramid you can go and find people saying "Me? No, no, no, I'm not wealthy - it's the people above me who are the wealthy ones." Perhaps it stops at like $500k/yr?
    - DC1350 5y ago
      > Perhaps it stops at like $500k/yr? It stops once somebody’s net worth is already so high that their annual income is irrelevant. Those are the real wealthy people.
- paconbork 5y ago
  There's plenty of cities that aren't NYC/SF/LA
frongpik 5y ago
Emma, no, the top 1% has at least 10M in liquid assets (primary residence doesn't count). 150k will never take you to that level.
- whimsicalism 5y ago
  If you are a two-professional household it can.
  - frongpik 5y ago
    Even with a 1M income you can't catch up. Their 10M grow at 10% per year, which gives 1M in the first year alone, while you can put only 0.5M after taxes. In 20 years it will take 50M to be in the top 1%.
monktastic1 5y ago
Richest 1% of what? Globally, the richest 1% is something like $35k IIRC. In the US, I think it's closer to $450k.
jacobsenscott 5y ago
Well, the thing is you generally can't make $150k in a place where a few years of that salary will sustain you for years. If you are making $150k per year you are living in a place where you can live comfortably, but you'll still need to work every year for a long time.

DC1350 5y ago

$150k is not even enough to buy a small home near your workplace in a lot of cities. Janitors had better living conditions 50 years ago than $150k earners do today

Moodles 5y ago
You sound more out of touch than an alien from outer space. No way is 150k worse quality of life than a janitor 50 years ago.
- Der_Einzige 5y ago
  Many janitors are unionized and paid quite well. I think you're the out of touch one here.
  - Moodles 5y ago
    Data or gtfo
TheTrotters 5y ago
> Janitors had better living conditions 50 years ago than $150k earners do today This is just batshit crazy.
dudeman13 5y ago
>Janitors had better living conditions 50 years ago than $150k earners do today Utter bullshit. >$150k is not even enough to buy a small home near your workplace in a lot of cities Live within your means for 5 years, invest the 70k/y excess money into index funds. You can live of dividends anywhere in the world that isn't a capital in a first world country. Without even losing money. Literally the 1% pretending to be poor and living in worse conditions that janitors 50 years ago. Yeah, right.
- whimsicalism 5y ago
  It's utterly amazing to me how far up the wealth pyramid you can go and find people saying "Me? No, no, no, I'm not wealthy - it's the people above me who are the wealthy ones." Perhaps it stops at like $500k/yr?
  - DC1350 5y ago
    > Perhaps it stops at like $500k/yr? It stops once somebody’s net worth is already so high that their annual income is irrelevant. Those are the real wealthy people.
paconbork 5y ago
There's plenty of cities that aren't NYC/SF/LA

frongpik 5y ago

Emma, no, the top 1% has at least 10M in liquid assets (primary residence doesn't count). 150k will never take you to that level.

whimsicalism 5y ago
If you are a two-professional household it can.
- frongpik 5y ago
  Even with a 1M income you can't catch up. Their 10M grow at 10% per year, which gives 1M in the first year alone, while you can put only 0.5M after taxes. In 20 years it will take 50M to be in the top 1%.

monktastic1 5y ago

Richest 1% of what? Globally, the richest 1% is something like $35k IIRC. In the US, I think it's closer to $450k.

jacobsenscott 5y ago

Well, the thing is you generally can't make $150k in a place where a few years of that salary will sustain you for years. If you are making $150k per year you are living in a place where you can live comfortably, but you'll still need to work every year for a long time.