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OleWarSkuleAlum
Alabama Fan
Member since Dec 2013
7461 posts

This chart ranks everyone (even you) by their wealth


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 at 10:01 am


Jim Rockford
LSU Fan
Member since May 2011
72063 posts

re: This chart ranks everyone (even you) by their wealth
Looking for a sports team for sale as we speak.


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420
Mr. Hangover
Hawaii Fan
New Orleans
Member since Sep 2003
29189 posts

re: This chart ranks everyone (even you) by their wealth
If Elon Musk had a sports franchise, what sport would it be and what would the city/mascot be?


TigersSEC2010
Mesa, AZ
Member since Jan 2010
31576 posts

re: This chart ranks everyone (even you) by their wealth
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.
This post was edited on 10/9 at 10:03 am


777Tiger
LSU Fan
Member since Mar 2011
41992 posts

re: This chart ranks everyone (even you) by their wealth
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


Displaced
LSU Fan
Member since Dec 2011
26235 posts

re: This chart ranks everyone (even you) by their wealth
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 at 10:04 am


OleWarSkuleAlum
Alabama Fan
Member since Dec 2013
7461 posts

re: This chart ranks everyone (even you) by their wealth
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


Riseupfromtherubble
USA Fan
You'll Never Walk Alone
Member since Jun 2011
33050 posts

re: This chart ranks everyone (even you) by their wealth
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


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182
Oddibe
LSU Fan
Close to some, further from others
Member since Sep 2015
4886 posts

re: This chart ranks everyone (even you) by their wealth
quote:

#2 to say someone with a net worth of $1MM can afford a second home by the shore is...
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.


OleWarSkuleAlum
Alabama Fan
Member since Dec 2013
7461 posts

re: This chart ranks everyone (even you) by their wealth
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.


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Oddibe
LSU Fan
Close to some, further from others
Member since Sep 2015
4886 posts

re: This chart ranks everyone (even you) by their wealth
quote:

A $1MM net worth is associated with someone making $80-125k a year.
How do you come to that conclusion?


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270
LSUBoo
Houston Astros Fan
None. None More Black.
Member since Mar 2006
79942 posts

re: This chart ranks everyone (even you) by their wealth
Going by factors of 10 leaves a lot of wiggle room in each bracket.

Big differences between $100K and $1M and $10M.


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250
Displaced
LSU Fan
Member since Dec 2011
26235 posts

re: This chart ranks everyone (even you) by their wealth
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.


fillmoregandt
Ole Miss Fan
Over the Mountain
Member since Nov 2009
12929 posts

re: This chart ranks everyone (even you) by their wealth
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


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22
CAD703X
Toledo Fan
Liberty Island
Member since Jul 2008
60532 posts

re: This chart ranks everyone (even you) by their wealth
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.
This post was edited on 10/9 at 10:23 am


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176
Thib-a-doe Tiger
LSU Fan
LaTour and in BRgetthenet's head
Member since Nov 2012
31224 posts

re: This chart ranks everyone (even you) by their wealth
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


6R12
LSU Fan
Louisiana
Member since Feb 2005
4086 posts

re: This chart ranks everyone (even you) by their wealth
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.


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41
Areddishfish
Yale Fan
Luiziana
Member since Oct 2015
2017 posts

re: This chart ranks everyone (even you) by their wealth
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.


CAD703X
Toledo Fan
Liberty Island
Member since Jul 2008
60532 posts

re: This chart ranks everyone (even you) by their wealth
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 at 10:35 am


Thib-a-doe Tiger
LSU Fan
LaTour and in BRgetthenet's head
Member since Nov 2012
31224 posts

re: This chart ranks everyone (even you) by their wealth
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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