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re: 100k Club

Posted on 8/23/22 at 1:11 pm to
Posted by lynxcat
Member since Jan 2008
24197 posts
Posted on 8/23/22 at 1:11 pm to
quote:

Nah. There comes a point where, if you don't excessively balloon your spending by changing your life style, you can just sort of stop worrying about money. For most people with their head on straight (and not living in an area with dumb housing prices) that range is likely $400-$600k. Seven figures not much different.

I think that if you get too high you start to increase you cost of living too much (camps, second homes, boats, cars) and it can take your monthly spend into the stratosphere. Not sure where that income level is and is likely variable for each family and location.

The danger is that high incomes tend to be pretty variable so + or - $200k per year is pretty normal.


This post is really only applicable for the MTB slice of posters...a miniscule percent of the population ever touches 400K HH income or more.
Posted by bod312
Member since Jul 2015
846 posts
Posted on 8/23/22 at 1:22 pm to
quote:

This post is really only applicable for the MTB slice of posters...a miniscule percent of the population ever touches 400K HH income or more.



It is bigger than you think probably due to income mobility. $400k is the top 1.8% of households but 12% of the population will find themselves in the top 1% for at least 1 year. 39% will be in the top 5% at least 1 year.
The first link I clicked on didn't have the numbers to reach top 2% but probably around 20% based on the 12% and 39% numbers.
This post was edited on 8/23/22 at 1:22 pm
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