How much money you got?

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What is your current annual household income? (poll is annonymous)

Greater than $430,000 (top 1%)
2
9%
$225,000 to $429,000 (Top 5%)
2
9%
$170,000 to $224,000 (Top 10%)
1
5%
$118,000 to $169,000 (Top 20%)
6
27%
$94,000 to $117,000 (Top 30%)
3
14%
$74,000 to $93,000 (Top 40%)
5
23%
$58,000 to $73,000 (Median range)
1
5%
$45,000 to $72,000 (Bottom 40%)
0
No votes
$25,000 to $44,000 (Bottom 30%)
1
5%
$0 to 24,000 (Bottom 20%)
1
5%
 
Total votes : 22

Re: How much money you got?

Postby Mountaineer Buc » Wed Oct 03, 2018 8:11 pm

uscbucsfan wrote:
Mountaineer Buc wrote:Net worth is where it's at more than income.

Whomever voted in the 5% margin, I would expect to have a net worth approaching $1M. If not now, then within a couple of years.


I understand the difference, but I think of liquid over 1 million to be "rich", depending on the size of your house, age, lifestyle...430 isn't rich to me. You have a faster track to it, but you aren't there. That's just my opinion.

My boss pulls in that range. He's rich.

He isn't Bruce Wayne rich, but he's absolutely able to spend his time doing nothing but count his money.
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Re: How much money you got?

Postby Zarniwoop » Wed Oct 03, 2018 8:12 pm

I definitely don't think 430K per year is rich, particularly if you have a family and are living near any big city.

I also don't consider $1M in net worth to be rich, particularly anyone over 40 or 45.



"Rich" to me, means you don't have to worry too much about trade-offs when spending money.
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Re: How much money you got?

Postby uscbucsfan » Wed Oct 03, 2018 8:17 pm

Mountaineer Buc wrote:
uscbucsfan wrote:
I understand the difference, but I think of liquid over 1 million to be "rich", depending on the size of your house, age, lifestyle...430 isn't rich to me. You have a faster track to it, but you aren't there. That's just my opinion.

My boss pulls in that range. He's rich.

He isn't Bruce Wayne rich, but he's absolutely able to spend his time doing nothing but count his money.

Rich is obviously subjective.

I just don't even think the 1 million threshold I looked at as a child works in modern times. Most on this board will be well over that in retirement once their houses and debts are paid.
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Re: How much money you got?

Postby Ken Carson » Wed Oct 03, 2018 9:16 pm

PrimeMinister wrote:Damn this board is full of rich ***holes.

I kid I kid. Pretty interesting how well off most of you are. This board is not representative of America at all.

The board might be, but this forum certainly isn’t.
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Re: How much money you got?

Postby Buc2 » Thu Oct 04, 2018 7:23 am

I certainly didn't think I'd be in the bottom 12% here. Wow!
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Re: How much money you got?

Postby uscbucsfan » Thu Oct 04, 2018 7:28 am

Buc2 wrote:I certainly didn't think I'd be in the bottom 12% here. Wow!

Most have families so it skews things. I'd bet you'd be a lot higher if there was a poll for individual income.

At least you aren't Alpha.
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Re: How much money you got?

Postby NYBF » Thu Oct 04, 2018 7:30 am

uscbucsfan wrote:I guess this is for another discussion, but does anyone consider 430k+ per year to be "rich"? Even when I was poor growing up 1 million was always the "rich" threshold. 430k is really well off and living a comfortable life (maybe depending on debt and financial decisions), but I don't think it's rich.


That's going to depend largely on where you live. If you're in LA, SF, NYC, $430k is comfortable. If you're in Bumfuck, NE you're probably a lot more than comfortable with that income.
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Re: How much money you got?

Postby Buc2 » Thu Oct 04, 2018 7:36 am

uscbucsfan wrote:
Buc2 wrote:I certainly didn't think I'd be in the bottom 12% here. Wow!

Most have families so it skews things. I'd bet you'd be a lot higher if there was a poll for individual income.

At least you aren't Alpha.

Ouch.
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Re: How much money you got?

Postby Buc2 » Thu Oct 04, 2018 7:37 am

NYBF wrote:
uscbucsfan wrote:I guess this is for another discussion, but does anyone consider 430k+ per year to be "rich"? Even when I was poor growing up 1 million was always the "rich" threshold. 430k is really well off and living a comfortable life (maybe depending on debt and financial decisions), but I don't think it's rich.


That's going to depend largely on where you live. If you're in LA, SF, NYC, $430k is comfortable. If you're in Bumfuck, NE you're probably a lot more than comfortable with that income.

Very true. $430k in my town would be huuuuuuge.
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Re: How much money you got?

Postby uscbucsfan » Thu Oct 04, 2018 7:39 am

NYBF wrote:
uscbucsfan wrote:I guess this is for another discussion, but does anyone consider 430k+ per year to be "rich"? Even when I was poor growing up 1 million was always the "rich" threshold. 430k is really well off and living a comfortable life (maybe depending on debt and financial decisions), but I don't think it's rich.


That's going to depend largely on where you live. If you're in LA, SF, NYC, $430k is comfortable. If you're in Bumfuck, NE you're probably a lot more than comfortable with that income.

Very true.

In SF 117k is considered "low income", but it'd be high average in Columbia, SC. Even with the low cost of living where I am, I still don't consider 430k to be rich, but they are doing really well and on their way to being rich. Again, it's subjective.
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Re: How much money you got?

Postby Mountaineer Buc » Thu Oct 04, 2018 8:08 am

Participants were also asked how much money is required to be considered "wealthy" in America. "Survey respondents say it's an average of $2.4 million," Charles Schwab reports, "or nearly 30 times the actual median net worth of U.S. households, according to the U.S. Census Bureau."

It's a complex question, and, not surprisingly, people have varying opinions on how much you have to earn to be rich.

A 2013 survey from UBS found that only 28 percent of people worth $1 million to $5 million consider themselves wealthy. Sixty percent of those worth $5 million or more said they're wealthy.

During the Occupy Wall Street movement and the discussions of income inequality that followed, "the one percent" became shorthand for wealth: To be in the one percent in America overall, "a family needs an income of $389,436,Of course, annual income and net worth are very different. As one couple shows, you and your partner could be making $500,000 a year and still feel like you're struggling.


If you are pulling a half million a year and struggling, you have a spending problem.
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Re: How much money you got?

Postby uscbucsfan » Thu Oct 04, 2018 8:11 am

Mountaineer Buc wrote:
Participants were also asked how much money is required to be considered "wealthy" in America. "Survey respondents say it's an average of $2.4 million," Charles Schwab reports, "or nearly 30 times the actual median net worth of U.S. households, according to the U.S. Census Bureau."

It's a complex question, and, not surprisingly, people have varying opinions on how much you have to earn to be rich.

A 2013 survey from UBS found that only 28 percent of people worth $1 million to $5 million consider themselves wealthy. Sixty percent of those worth $5 million or more said they're wealthy.

During the Occupy Wall Street movement and the discussions of income inequality that followed, "the one percent" became shorthand for wealth: To be in the one percent in America overall, "a family needs an income of $389,436,Of course, annual income and net worth are very different. As one couple shows, you and your partner could be making $500,000 a year and still feel like you're struggling.


If you are pulling a half million a year and struggling, you have a spending problem.

Not necessarily. You could be trying to save too much to be safe later in life. I have a friend who makes over 400k, but only pays himself 1k per month and he stressed about it when we go out.
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Re: How much money you got?

Postby Mountaineer Buc » Thu Oct 04, 2018 8:17 am

uscbucsfan wrote:
Mountaineer Buc wrote:
If you are pulling a half million a year and struggling, you have a spending problem.

Not necessarily. You could be trying to save too much to be safe later in life. I have a friend who makes over 400k, but only pays himself 1k per month and he stressed about it when we go out.

Sounds to me like he is gearing up to FI/RE (Financial Independence/Retire Early) and if he is saving $388,000 a year, it won't be long.
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Re: How much money you got?

Postby uscbucsfan » Thu Oct 04, 2018 8:22 am

Mountaineer Buc wrote:
uscbucsfan wrote:Not necessarily. You could be trying to save too much to be safe later in life. I have a friend who makes over 400k, but only pays himself 1k per month and he stressed about it when we go out.

Sounds to me like he is gearing up to FI/RE (Financial Independence/Retire Early) and if he is saving $388,000 a year, it won't be long.

He bought his house with cash, but other than that he lives like he's poor and he's single. I don't think he'll work much past 40.
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Re: How much money you got?

Postby Deuce » Thu Oct 04, 2018 8:22 am

Mountaineer Buc wrote:
Participants were also asked how much money is required to be considered "wealthy" in America. "Survey respondents say it's an average of $2.4 million," Charles Schwab reports, "or nearly 30 times the actual median net worth of U.S. households, according to the U.S. Census Bureau."

It's a complex question, and, not surprisingly, people have varying opinions on how much you have to earn to be rich.

A 2013 survey from UBS found that only 28 percent of people worth $1 million to $5 million consider themselves wealthy. Sixty percent of those worth $5 million or more said they're wealthy.

During the Occupy Wall Street movement and the discussions of income inequality that followed, "the one percent" became shorthand for wealth: To be in the one percent in America overall, "a family needs an income of $389,436,Of course, annual income and net worth are very different. As one couple shows, you and your partner could be making $500,000 a year and still feel like you're struggling.


If you are pulling a half million a year and struggling, you have a spending problem.


Wanna really get your gears ground...grinded...whatever?

Check out this article where a couple that makes $200,000 per year is "just scraping by."

https://www.cnbc.com/2017/10/09/budget- ... 00000.html

Spoilers:

Spoiler:
$700,000 home- $36,000 per year in mortgage and $8,000 in property taxes
Two vacations per year totaling $8,000
$18,000 going to their 401k
$3,000 for miscellaneous
$5,700 still left over at the end
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Re: How much money you got?

Postby Buc2 » Thu Oct 04, 2018 8:23 am

uscbucsfan wrote:
Mountaineer Buc wrote:
If you are pulling a half million a year and struggling, you have a spending problem.

Not necessarily. You could be trying to save too much to be safe later in life. I have a friend who makes over 400k, but only pays himself 1k per month and he stressed about it when we go out.

How does he live on $12k a year? Does he live in his parents basement?
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Re: How much money you got?

Postby uscbucsfan » Thu Oct 04, 2018 8:25 am

Buc2 wrote:
uscbucsfan wrote:Not necessarily. You could be trying to save too much to be safe later in life. I have a friend who makes over 400k, but only pays himself 1k per month and he stressed about it when we go out.

How does he live on $12k a year? Does he live in his parents basement?


He eats Ramen, drinks natty, doesn't have cable, company pays for cell, car, and internet, and he owns his house.
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Re: How much money you got?

Postby uscbucsfan » Thu Oct 04, 2018 8:26 am

Deuce wrote:
Mountaineer Buc wrote:
If you are pulling a half million a year and struggling, you have a spending problem.


Wanna really get your gears ground...grinded...whatever?

Check out this article where a couple that makes $200,000 per year is "just scraping by."

https://www.cnbc.com/2017/10/09/budget- ... 00000.html

Spoilers:

Spoiler:
$700,000 home- $36,000 per year in mortgage and $8,000 in property taxes
Two vacations per year totaling $8,000
$18,000 going to their 401k
$3,000 for miscellaneous
$5,700 still left over at the end

They are still investing.

Edit: I don't consider then to he scraping by. Eating well, buying clothes, have kids, investing, treating themselves, and have money left over. Seem to be doing fine.
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Re: How much money you got?

Postby PanteraCanes » Thu Oct 04, 2018 1:23 pm

Buc2 wrote:Damn. Bunch of rich fuckers up in here. I'm the lowest so far at $71k. If I were still married to my ex, household income would be around $120k - $125k.



Being in a not normal situation myself I was kind of hoping to see this more in an individual rather than as a household total. Though I suppose if the other person actually paid their support I would probably jump up a level or so.
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Re: How much money you got?

Postby Zarniwoop » Thu Oct 04, 2018 2:10 pm

PanteraCanes wrote:
Buc2 wrote:Damn. Bunch of rich fuckers up in here. I'm the lowest so far at $71k. If I were still married to my ex, household income would be around $120k - $125k.



Being in a not normal situation myself I was kind of hoping to see this more in an individual rather than as a household total. Though I suppose if the other person actually paid their support I would probably jump up a level or so.


To me household is the way to go when measuring this type of data. Every choice we make impacts our wealth and standard of living. By far the biggest thing to help one accumulate money and wealth is finding a partner/spouse who also works. You can potentially double your income but your expenses go up what maybe half? You get economies of scale. Likewise, the most expensive thing anyone can ever do is have a child. That is best done with a committed partner who can help both with time and money.
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Re: How much money you got?

Postby The Outsider » Thu Oct 04, 2018 2:12 pm

Bottom 30% reporting in. But like Dread said, what I got and what I make are two different things.
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