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> Those on £150k+ are in the 98th percentile. This metric is no longer meaningful, as in 99th percentile you'll have someone making £1.5m+, which is a world's
by varispeed 4y ago
> Those on £150k+ are in the 98th percentile.
This metric is no longer meaningful, as in 99th percentile you'll have someone making £1.5m+, which is a world's difference.
> You can have a high income and choose to live beyond your means preventing you from accumulating wealth.
What I described wasn't living beyond one's means. It would be that if a person started engaging in taking loans and credit cards and buying things they can't really afford etc.
Simple living adequate to earnings, at a £150k, won't make you rich.
- nerdawson 4y ago> This metric is no longer meaningful, as in 99th percentile you'll have someone making £1.5m+, which is a world's difference. We're debating various degrees of rich. If you earn more than 98% of your working peers, I don't know what else you could call that. People make choices with their money. Living alone in an expensive city is a choice. If you choose to do that on £150k, you're going to have far less disposable income than others on that same salary making different choices. I have very little sympathy for people who blow all of their income funding a lifestyle they can't afford to project the appearance of wealth and status.