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Oddibe
LSU Fan
Close to some, further from others
Member since Sep 2015
4913 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
Is that individual income or household income? With or without kids? Married or single?

For a person making $100,000 per year they would have to invest 25% of their GROSS income annually for 22 consecutive years with a 5% return to have $1million. That is doable but not likely and there is no way in hell someone making $100k with a wife and 2 kids is saving $25K per year.



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142
shel311
Nicholls St. Fan
McKinney, Texas
Member since Aug 2004
71125 posts

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

And don’t forget minimum of $700MM in operational losses each quarter

And don't forget that people would irrationally hate it


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Jcorye1
Detroit Mercy Fan
Tom Brady = GoAT
Member since Dec 2007
54928 posts

re: This chart ranks everyone (even you) by their wealth
Net worth? Jesus.


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hobotiger
LSU Fan
Asbury Park, NJ
Member since Nov 2007
4269 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


Suppose I have three homes at the shore?


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PearlJam
Auburn Fan
NotBeardEaves
Member since Aug 2014
12165 posts

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

Majority of people that have mortgages technically have a negative net worth
Seems unlikely. You think a majority of people are underwater on their homes?


Areddishfish
Yale Fan
Luiziana
Member since Oct 2015
2020 posts

re: This chart ranks everyone (even you) by their wealth
Especially right after buying absolutely. As more years go on you get further away from it, but if you have to unexpectedly sell a year or less after buying, you will most likely lose money after paying fees and closing costs. The only way that is avoided is if you have a strong down-payment, but most Americans on their first home are lucky to put down 3% and more loans are starting to let you get the house without a down-payment at all.


Rando
USA Fan
When IPs were Visible
Member since Apr 2015
15956 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.


I was going to agree.

But then I remembered not all shores are equal

...biloxi...


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crazyLSUstudent
LSU Fan
391 miles away from Tiger Stadium
Member since Mar 2012
2826 posts

re: This chart ranks everyone (even you) by their wealth
Say what now? A net worth of 10 mil puts you in the 0.0226% of humans on this planet.


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deltaland
Mississippi St. Fan
Member since Mar 2011
51346 posts

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

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.


It does say that’s the bottom end of the bracket. So the 10 mil bracket goes up to 100 million.

Also depends heavily on how you are with money. You can make 200k a year and get a net worth in the millions after a decade if you live modestly. You can make 5 million a year and incur lots of debt in the millions and lower your net worth, but you’ll have a lot of stuff


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PearlJam
Auburn Fan
NotBeardEaves
Member since Aug 2014
12165 posts

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

Especially right after buying absolutely.
Still probably not, but this is far different than your original statement.


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TD SponsorTD Fan
USA
Member since 2001
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Rep520
Arizona Fan
Member since Mar 2018
6211 posts
 Online 

re: This chart ranks everyone (even you) by their wealth
This chart fails to adjust for the fact that everyone posting on internet message boards is an 11. Fake news.


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30
tketaco
Houston Astros Fan
SoHo Vatos
Member since Jan 2010
13175 posts

re: This chart ranks everyone (even you) by their wealth
So this adopted into OT Ratings? So I be an OT 5?


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A Yankee
New York Yankees Fan
Member since Oct 2019
150 posts

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

$1 million net worth is nothing. $10 million is a little better but still nothing crazy.

Not sure if serious


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61
jbraua
LSU Fan
Oklahoma City, OK
Member since Oct 2007
2959 posts

re: This chart ranks everyone (even you) by their wealth
Still holding out for space travel.


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OweO
LSU Fan
Plaquemine, La
Member since Sep 2009
80142 posts

re: This chart ranks everyone (even you) by their wealth
Do they know how much hard cash someone has?


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TheCaterpillar
LSU Fan
Member since Jan 2004
72252 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.



Horse shite.

I’m 31 and make the top end of that and have no where CLOSE to a $1m net worth.



CaptainsWafer
USA Fan
TD Platinum Member
Member since Feb 2006
52048 posts
 Online 

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

Whoever wrote this is a moron.



I read this as “whoever wrote this is a Mormon” at first. I guess I’m the morman now.


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10
777Tiger
LSU Fan
Member since Mar 2011
42187 posts

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

I’m 31 and make the top end of that and have no where CLOSE to a $1m net worth.


then GTFO of TD and go make it happen! then come back and sit in with us ballers


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DownshiftAndFloorIt
LSU Fan
Here
Member since Jan 2011
52542 posts

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

Whoever wrote this is a moron.


quote:

$1 million net worth is nothing.


quote:

by TigersSEC2010


OleWarSkuleAlum
Alabama Fan
Member since Dec 2013
7494 posts

re: This chart ranks everyone (even you) by their wealth
If you’re in your 60’s and don’t have a net worth ~$1MM you are an failure in life and spend way above your means.


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