Quote:
Originally Posted by lovemachine
actually i used to think making 200k to 400k is a lot. But i realised many couples are doing 500k per year in salaried jobs in their 30s
And those richer ones are doing 500k to 1m. And in the years of the even richer ones, this is peanuts to them.
The price of everything is going up. I read a report, the idea of being a millionaire in the 1920s in the US (richest country in modern history then) is equivalent to 30m before covid.
since the Fed printed 40% of all dollar in existence last year, that figure is closer to 50m in today's money.
500k per year x 10 years is slightly over 50m.
He is not wrong to say 500k per year is average.
In the 1920s, such US businessmen (not the super rich) who were millionaires are not uncommon.
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Actually, it boils down to the kind of expenses do you have, 200-400K annually is a lot but yet 0.5-1m annually is not enough...
A good friend of mine makes about 400k a year, but it is not enough, why? well the sad thing is his parents are chronically ill, so he and his younger bro agreed that my friend should work and his younger bro will care for their parents full time with a maid.
Hence his 400k is shared by 4 persons, still comfortable you say, but medical care and living expenses are high.
Me? I only managed to make about 100+ now, then again kids need to eat (luckily the Mrs also works) and my parents though retired, remains healthy and mobile. Most importantly they have enough to survive on.
I would very much say this, the most important is to spend below your means...if you make 1M a year and you spend 30-50k on commercial fucks I guess it is not an issue.
However if you make 100k annually and your spend 30-50k on sex?? That will be a no no