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Message
This chart ranks everyone (even you) by their wealth
Posted on 10/9/19 at 9:59 am
Posted on 10/9/19 at 9:59 am
LINK
According to this only 5.3% of the world has a net worth north of $1MM. That’s sad.
#2 to say someone with a net worth of $1MM can afford a second home by the shore is...
This post was edited on 10/9/19 at 10:01 am
27
Posted on 10/9/19 at 10:01 am to OleWarSkuleAlum
Looking for a sports team for sale as we speak.
Posted on 10/9/19 at 10:01 am to OleWarSkuleAlum
If Elon Musk had a sports franchise, what sport would it be and what would the city/mascot be?
Posted on 10/9/19 at 10:03 am to OleWarSkuleAlum
A net worth of $10 million gets you a "third home wherever you want"?
$1 million net worth is nothing. $10 million is a little better but still nothing crazy.
Whoever wrote this is a moron.
$1 million net worth is nothing. $10 million is a little better but still nothing crazy.
Whoever wrote this is a moron.
This post was edited on 10/9/19 at 10:03 am
Posted on 10/9/19 at 10:03 am to OleWarSkuleAlum
interesting, I wonder how accurate it is, it isn't hard these days, certainly after a few years in the work force, to have a net worth of a mil
Posted on 10/9/19 at 10:03 am to Mr. Hangover
quote:
If Elon Musk had a sports franchise, what sport would it be and what would the city/mascot be?
It would be a new sport he has in development that will be ready in 2-30 years but he needs tax dollars to subsidise it.
This post was edited on 10/9/19 at 10:04 am
Posted on 10/9/19 at 10:04 am to Displaced
quote:
t would be a new sport he has in development that will be ready in 2-30 years but he needs tax dollars to subsidise it.
And don’t forget minimum of $700MM in operational losses each quarter
Posted on 10/9/19 at 10:05 am to OleWarSkuleAlum
quote:
#2 to say someone with a net worth of $1MM can afford a second home by the shore is
not unreasonable at all depending on location. Malibu, CA? No. Port St. Joe, FL? Yes
Posted on 10/9/19 at 10:06 am to OleWarSkuleAlum
quote:You are wrong with that assumption. It's basically referring to weekend retreat or recreational property...could be a lake house or nice hunting camp.....not necessarily a $1M beach house.
#2 to say someone with a net worth of $1MM can afford a second home by the shore is...
Posted on 10/9/19 at 10:07 am to Oddibe
quote:
You are wrong with that assumption. It's basically referring to weekend retreat or recreational property...could be a lake house or nice hunting camp.....not necessarily a $1M beach house.
A $1MM net worth is associated with someone making $80-125k a year.
Posted on 10/9/19 at 10:10 am to OleWarSkuleAlum
quote:How do you come to that conclusion?
A $1MM net worth is associated with someone making $80-125k a year.
Posted on 10/9/19 at 10:11 am to OleWarSkuleAlum
Going by factors of 10 leaves a lot of wiggle room in each bracket.
Big differences between $100K and $1M and $10M.
Big differences between $100K and $1M and $10M.
Posted on 10/9/19 at 10:13 am to OleWarSkuleAlum
quote:
A $1MM net worth is associated with someone making $80-125k a year.
Not necessarily. Age should be a factor in here too.
Net worth of 1MM at 35 is great.
Net worth of 1MM at 65 not so much.
Posted on 10/9/19 at 10:19 am to OleWarSkuleAlum
quote:
#2 to say someone with a net worth of $1MM can afford a second home by the shore is...
Bracket 6 extends from $1 million to $9.99 million, so not entirely unbelievable
Posted on 10/9/19 at 10:20 am to OleWarSkuleAlum
remember when we were kids and being a millionaire was the end-game? 
my how inflation has crept up...
eta and yep, i'm over the 1m mark but with 4 kids (2 in college) no way in hell i have the money for a second house right now. i bitch about paying for projects i have to do on my existing home.
my how inflation has crept up...
eta and yep, i'm over the 1m mark but with 4 kids (2 in college) no way in hell i have the money for a second house right now. i bitch about paying for projects i have to do on my existing home.
This post was edited on 10/9/19 at 10:23 am
Posted on 10/9/19 at 10:23 am to OleWarSkuleAlum
quote:
#2 to say someone with a net worth of $1MM can afford a second home by the shore is..
Oh look, someone who doesn’t know what “net” means
Posted on 10/9/19 at 10:24 am to TigersSEC2010
quote:
Whoever wrote this is a moron.
I'll give that person a score of right over the moron category. It might be factual but it's not very helpful for sure. It's such a broad range.
Posted on 10/9/19 at 10:32 am to OleWarSkuleAlum
They don't understand how negative net worth works. Majority of people that have mortgages technically have a negative net worth, but can still easily pay bills and have entertainment.
Posted on 10/9/19 at 10:33 am to Thib-a-doe Tiger
quote:
Oh look, someone who doesn’t know what “net” means
there are tons of california 'real estate' millionaires out there who can't afford a second home by the shore even if its in florida.
just because you paid 100k for a house and it appreciated to 1.2 million has NOTHING to do with your ability to afford the note if you took out a 500k heloc to use for a house by the shore.
the real estate *may* be a windfall for some (but of course they are paying property taxes on that increase) but their salary has more to do with the ability to take advantage of the equity in the home and without selling and moving out of state, being a cali millionaire is meaningless.
categories in the article are crap without context.
This post was edited on 10/9/19 at 10:35 am
Posted on 10/9/19 at 10:38 am to CAD703X
quote:
categories in the article are crap without context.
Agree, because someone else could be 40 with 200k in net equity and 800k in cash and investments and afford to buy a 200k vacation home cash money
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