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Started By
Message
re: Nearly 160,000 civil servants are millionaires?
Posted on 2/23/25 at 3:35 pm to Tantal
Posted on 2/23/25 at 3:35 pm to Tantal
quote:
Shiiiiiiit. I'm a millionaire and I'm just a municipal cop. As long as you live within your means, own your home, and have been investing for 25-30 years, it isn't that hard. Like someone else said, being a millionaire isn't what it used to be.
This.
0
Posted on 2/23/25 at 3:45 pm to Night Vision
Let’s not lose the plot MAGA. Our beef is with the politicians and shot callers, not the body of the fed gov at large.
Posted on 2/23/25 at 4:17 pm to Robin Masters
quote:
Let’s not lose the plot MAGA. Our beef is with the politicians and shot callers, not the body of the fed gov at large.
lol that plot has been lost
Posted on 2/23/25 at 4:22 pm to Night Vision
If you work in the same job for 20 to 30 years with the stock market we’ve had over that timeframe you’d have to be a failure not to be a ‘millionaire’. It’s not hard with stable employment.
Posted on 2/23/25 at 4:39 pm to Night Vision
An Enterprising person probably picked up a second job during the years he/she was getting paid to “wfh”.
Posted on 2/23/25 at 4:48 pm to Night Vision
A DEA agent I know got a divorce well before he retired, and his wife’s half of his IRA plan was 450k. This post really isn’t surprising. That was 10 or 12 years ago and I about pooped a brick when he told me that amount.
This post was edited on 2/23/25 at 4:51 pm
Posted on 2/23/25 at 5:04 pm to LSUA 75
quote:
1 million in 2025 has purchasing power of $531,367 in 2020 dollars.
Annnnd now I'm depressed
Posted on 2/23/25 at 5:05 pm to HempHead
quote:Market growth from 1/22 to 9/24 was 23%. A more than doubling of millionaires over that brief period compared with < half that accrued over the previous decades is an absurdly skewed statistic.
Market growth in '23 and '24 could have easily pushed heavily tenured employees to the 7 figure mark.
I would absolutely question methodology in the claim. Net worth assessments are not reliable, thank goodness.
But if accurate, there is no way in hell that simple market growth would result in that kind of change over an 18-19 month period.
Posted on 2/23/25 at 5:19 pm to Night Vision
Being a “millionaire” is not that big of a deal; anyone who makes a decent income for 30 or more years SHOULD be a millionaire
It’s the ones that are worth tens of millions on a $100K salary that is alarming
It’s the ones that are worth tens of millions on a $100K salary that is alarming
Posted on 2/23/25 at 7:49 pm to HempHead
I made a mistake,should have been year 2000.
Posted on 2/23/25 at 8:04 pm to KingOfTheWorld
quote:
Now, going from a thousandaire to multimillionaire after a couple of terms in congress at $174,000 a year is suspicious.
the AOC investment plan is SUSPECT
Posted on 2/23/25 at 8:10 pm to HempHead
Not just stock market growth, but housing increase. If someone is 50+ years old and didnt make poor life decisions, they should have a net worth over $1m+
A million bucks really isnt what it used to be. Just look at college tuition, a buddy whose kid is applying to USC said it would be $90k a year. Nuts.
Now, if these federal employees are multi millionaires... That deserves a deeper look. 160k would be less than 5% of the workforce though, which would track for many of them being close to retirement age.
A million bucks really isnt what it used to be. Just look at college tuition, a buddy whose kid is applying to USC said it would be $90k a year. Nuts.
Now, if these federal employees are multi millionaires... That deserves a deeper look. 160k would be less than 5% of the workforce though, which would track for many of them being close to retirement age.
This post was edited on 2/23/25 at 8:11 pm
Posted on 2/23/25 at 8:41 pm to GerasimosNina
quote:
OP is disingenuous
Well, yeah......
Posted on 2/23/25 at 10:56 pm to HempHead
quote:
but it's also completely normal for a 50 or 60 something year old in federal service with decent financial habits to become a nominal millionaire.
Sure. No problem with that. Sure seems like a lot at the same time though.
Posted on 2/23/25 at 10:58 pm to Night Vision
Last time I drove through/around DC and its burbs, there was construction everywhere. The DC minions sure like to feather their own nest.
Posted on 2/24/25 at 6:04 am to GeauxBurrow312
quote:stupidest measure of wealth ever invented. Somebody with 750k of house, cars and junk with only 250k saved at retirement age is considered a millionaire but he better stay working because in real world terms he’s cash poor
net worth
Posted on 2/24/25 at 6:11 am to Robin Masters
quote:
Let’s not lose the plot MAGA. Our beef is with the politicians and shot callers, not the body of the fed gov at large.
Too late. The vast majority of this board is giddy watching federal employees lose their jobs, with no understanding of what they do or how important that job may or may not be. Despite the fact that 1/3 of Fed employees are veterans and that a very large amount of feds are conservatives just like us (several hundred thousand who voted for Trump) that are getting caught up in this.
Posted on 2/24/25 at 6:16 am to Night Vision
If we are defining "millionaires" as people with $1MM of assets, that's a really low bar...
Posted on 2/24/25 at 6:16 am to LSUA 75
quote:
Million dollars ain’t what it used to be.
Beats not being a millionaire.
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