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> 10x the median income just isn’t that much. If you have three kids You are taking home (in California; approximately) net 7.4 times what people with three ki
by teachingassist 6y ago
> 10x the median income just isn’t that much. If you have three kids
You are taking home (in California; approximately) net 7.4 times what people with three kids on the median income are taking home.
If you choose to live a median lifestyle, you can save 86% of your net income and therefore retire on it within 4 years.
- nostrademons 6y agoJust as a counterpoint - if you believe that the median person is about to get screwed (either by civil disorder, famine, inflation, corporate restructuring, housing shortages, rentier landlords, conscription, etc.), then it's worth paying a premium not to be the median person. Judging from social & news media these days, the median person believes that the median person is about to get screwed. The "live like the median person, bank 86% of your income, and retire in 4 years" strategy works well in times of abundance, where the median person has a decent life. Once people start expecting shortages - where the median person ends up dead, or unable to complete life milestones they desire like having kids - it becomes less feasible. I've seen a large shift in expectations over the last 1-10 years (depending on how far down the income distribution you were), where more and more people are realizing that bad things might be on the verge of happening.
- curiousllama 6y ago> if you believe that the median person is about to get screwed, then it's worth paying a premium not to be the median person You have a remarkably apt username