re: Who are the real known/actual OT ballers?

I can still afford 12 packs of soda.

Bow before me.

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If your annual income is north of 7 figures your net worth will be way over $10 Million

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My first job out of college was working for a private equity group putting together oil and real estate deals. When we would get a group together everyone had to send in their tax returns and personal financial statements.

I am not exaggerating when I tell you that probably 30% (conservatively) had incomes in excess of their net worths. I am talking about surgeons making $500k a year in 1995 who had $100k of equity in their house and $50k in their checking accounts and still had student loan debt.

Many, many, many guys in their 40s working as insurance agents, lawyers, etc who made good money and had negative net worth.

And that was 30 years ago. I assume it's worse now.

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I am not exaggerating when I tell you that probably 30% (conservatively) had incomes in excess of their net worths

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It wouldn't be too weird today. Especially since they don't start making money until later in life, and probably take on a mortgage and family formation while still paying student debt. The income growth from year to year can outpace their ability to save it. For example, calculations such as have 2x salary by X age wouldn't work.

But if that continues into late 40s there's potentially a problem. The income growth eventually slows down.

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My first job out of college was working for a private equity group putting together oil and real estate deals. When we would get a group together everyone had to send in their tax returns and personal financial statements.

I am not exaggerating when I tell you that probably 30% (conservatively) had incomes in excess of their net worths. I am talking about surgeons making $500k a year in 1995 who had $100k of equity in their house and $50k in their checking accounts and still had student loan debt.

Many, many, many guys in their 40s working as insurance agents, lawyers, etc who made good money and had negative net worth.

And that was 30 years ago. I assume it's worse now.

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Yeah, but an income "north of 7 figures" would be $10 million a year minimum. I'd hope someone bringing in that kind of cash would have a net worth in excess of that. Your scenario makes sense for someone making a few hundred thousand though.

He's mincing words about "north" of 7 figs which to some implies 8 figs. Ignore these ones. Smart people know what you mean.

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No, 7 figures starts a $1 mil and goes to $9.99 Mil. 8 Figures is $10 mil.

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Right. What is "north" of 7 figures?

Hint: The answer is at the end of your post.

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I have active memberships at BOTH Costco & Sam's.

Ball 'til I fall.

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You must do well on Sample Saturday

When you can not notice your wife not being paid for 6 months, you're probably balling. That's all I'm saying.

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$1,000,001 and above is north of 7 figures

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This is 7 figures.

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$10,000,001

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This is more than 7 figures