Discussion in 'Economics' started by richardyu301, Jun 15, 2008.
With just ~$50k annual income you can make it to the top 1%.
So how is it to be extremely rich?
Interesting way for a website to attempt to use emotion to get donations for people.
They seem to be highly misleading and either do not understand wealth and being rich or are hoping that the people who go to the site do not.
Having a yearly salary of $300,000 does NOT make you nearly as "rich" as someone earning $300K from interest income with all else being equal. That being said the statistics are about as useful as the stats coming out of Washington.
I put in 50 million USD and it told me that I'm not very wealthy because of the massive depreciation of the dollar, and that I can get heating oil, gasoline and food relief and gave me telephone numbers to relief agencies.
$50k is rich if you live in a country with 3rd world living costs. If you live in Manhattan then it's a different story.
you are 'rich' if you don't have to endure harsh physical labor for your daily work, or have to sell your body for sexual gratifications of others, and can wake up with a full 8hrs of sleep.
ie.. (corporate elite/paper pushers/administrators)
So misleading, but interesting nevertheless; puts things into perspective. As noted earlier in this thread, this would be more relevant if you were making $50,000 and living in a African country or in one of the poorer ASEAN countries.
my Indian friend lives in a household with an annual income of 50k year, and they are Brahman class, i.e. the richest caste. They also have inherited land/wealth/govt. perks....but still, it shows you the effect of purchasing power.
50k/year in any major North American city is borderline poverty, and won't get you a decent GF/wife unless you're a super good looking bad boy, in which case you don't need a job. But even so, consumption inequality is almost irrelevant in an OECD nation; now it's all relative wealth/social status...that's why I used the GF thing as a barometer. Anybody who tries in an OECD nation can eat and have shelter, including illegal Mexicans-whether or not they are respected is a different story.
I talked to a guy who makes 1mill a year as an investment banker, and says he wants to move because he doesn't stand out amongst his wall street crowd.
Well I'll be damned!!... Here I thought having women pay me for sex was what made my life truely rich regardless of what I am really worth on paper.
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