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So, I like to divide things into orders of magnitude since that tends to produce meaningful qualitative differences between levels. And I think due to inflatio
by saulpw 2y ago
So, I like to divide things into orders of magnitude since that tends to produce meaningful qualitative differences between levels. And I think due to inflation, ^6 wealth is these days $3m-$30m, which would be considered "rich" (compared to ^5 "upper middle class" and ^7 "ultra-high-net-worth", and of course beyond). Do you think the people who own those McMansions are ^6, or are they in a higher wealth class? It seems weird that ^7 or higher would buy a McMansion but $5k/mo seems exorbitant for ^6.
And yeah, I think that interacting with wealth more than 1 level above (or below) your own wealth class experience is really eye-opening. Most of us don't (because it's too uncomfortable for one or the other).