3 ms·
If you're still measuring wealth by income, you're probably not in the bracket that is being discussed here. $1 million per year is an extremely comfortable in
by speakfreely 1y ago
If you're still measuring wealth by income, you're probably not in the bracket that is being discussed here. $1 million per year is an extremely comfortable income, but it would take 30 years of saving that, post tax, before you hit $30 million in net worth, which is the entry point for UHNW status.
- ehnto 1y agoI do see your point, but it's highly unlikely that they are putting their wealth into a HISA for 30 years. There is likely 0 people who got to UHNW through saving money.
- speakfreely 1y agoCompletely agree with you. Which it why I mentioned measuring wealth by income shows a disconnect from what real wealth is.
- wrs 1y agoThis is assuming they have to work for the $1M income. The point of having $30M is to make $1M income without doing anything.
- anecdatas 1y agoTotally. I'm someone who could choose to enter the capital class via purchasing rental properties or investing heavily in stocks, but I deliberately do not. Capital class wildly different than wealthier working class. But in all honesty, bring the taxes all the way down to me at least. Anyone making a million a year could be taxed a lot more and still live comfortably. The capital class above me could afford a LOT more taxation and still live lives of unbridled luxury.