You wanted the secret to getting rich? Here it is
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If you have $1m, you can draw something like $30-40000 a year reasonably safely. That's obviously a lot of money, but isn't what most people in the mentioned countries think of as "living large" if it's your whole income, especially for a couple/family. That puts you at about the median individual income for Japan and NZ, a bit above in Korea, and below for most of western Europe and Aus.
Obviously that's without working, but that's kinda the point. It's wealth, but not enough that most people in those places would be comfortable not working if that's how much they earned. Hell, in the US that wouldn't even cover childcare for a few kids in many locales.
wrote last edited by [email protected]The $1m isn't in cash... You forget that the average house price in London is around $900k, and for Sydney it's $981k.
That means your pool for your car, furnishings, investments etc. are either minimal, or you have a mortgage, and definitely can't live passively off $30-40k per year unless you're living in cheaper than average housing (one would call this "not super wealthy") and definitely not if you're supporting a family.
I'm not saying the cost of living isn't worse in the US, just that $1m is a comparatively tiny amount everywhere and that most millionaires (as there will a correlation between net worth and frequency) are frankly closer to the working class than they are to billionaires.
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"Do you know how hard it is to keep the plebs just happy enough that they don't burn down my property?"
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The real secret to becoming rich is to have parents who are rich.
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The real secret to becoming rich is to have parents who are rich.
Sometimes you have rich parents. Sometimes you have friends with rich parents. Sometimes you just find yourself at the center of a CIA money laundering operation.
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change it to billionaire and I agree, people with $1m are not obscenely wealthy these days
people with $1m are not obscenely wealthy these days
I'd rather have it than not.
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I know several (low) millionaires and none of them exploited other people's hard work. All of them are self-employed, and one of them is the single employee of their company.
Billionaires on the other hand. Yep, no way to get to a billion without heavy exploitation and sociopathic behavior.
wrote last edited by [email protected]I know several (low) millionaires and none of them exploited other people’s hard work.
checks under the hood
Where'd you, uh... where'd you get all that compound interest on your investments from?
All of them are self-employed, and one of them is the single employee of their company.
"I've never exploited anyone!"
"Oh really, what do you do for a living?"
"Insurance defense lawyer."
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The difference between a billion dollars and a million dollars is about a billion dollars.
Man, that graph and website is amazing. Simple, but gets the point across. I'll share it from time to time.
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I know several (low) millionaires and none of them exploited other people’s hard work.
checks under the hood
Where'd you, uh... where'd you get all that compound interest on your investments from?
All of them are self-employed, and one of them is the single employee of their company.
"I've never exploited anyone!"
"Oh really, what do you do for a living?"
"Insurance defense lawyer."
Heavy equipment operator is more likely
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When it comes to new technologies, advancements, or discoveries, rarely is it the people who made them that get most of the profit made from them, the people that make the most are the ones that exploited them. It's crazy that our best and brightest are more times than not indentured to our most greedy.
There needs to be laws and regulation to prevent and stop excessive greed and exploitation.
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The difference between a billion dollars and a million dollars is about a billion dollars.
It’s like a clicker game but with scrolling and depression. I’ve attempted to get all the way through it multiple times, but never succeeded.
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I know several (low) millionaires and none of them exploited other people’s hard work.
checks under the hood
Where'd you, uh... where'd you get all that compound interest on your investments from?
All of them are self-employed, and one of them is the single employee of their company.
"I've never exploited anyone!"
"Oh really, what do you do for a living?"
"Insurance defense lawyer."
You've started with the premise that making money is evil, and are working backward from there.
"Oh no, you invested in index funds!!!" - yeah, so does everybody via their 401k or pension.
"Oh no, the work you did had any negative impact at all!!!" - thats basically every job. Communist agitators pollute the environment by driving cars to protests, and vegans kill field mice in their fields of soybeans. There are plenty of ways to make money that make the world better on net.
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You've started with the premise that making money is evil, and are working backward from there.
"Oh no, you invested in index funds!!!" - yeah, so does everybody via their 401k or pension.
"Oh no, the work you did had any negative impact at all!!!" - thats basically every job. Communist agitators pollute the environment by driving cars to protests, and vegans kill field mice in their fields of soybeans. There are plenty of ways to make money that make the world better on net.
You’ve started with the premise that making money is evil
The monetary system is a miserable way to justify homelessness, neglect, and poverty, sure.
thats basically every job.
The fact that you can't imagine a job that improves the lives if your friends and neighbors is kinda bleak.
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You’ve started with the premise that making money is evil
The monetary system is a miserable way to justify homelessness, neglect, and poverty, sure.
thats basically every job.
The fact that you can't imagine a job that improves the lives if your friends and neighbors is kinda bleak.
You seem to be acting intentionally dense to avoid changing your mind, so I'm going to stop responding.
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Also my dad is a billionaire
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It’s like a clicker game but with scrolling and depression. I’ve attempted to get all the way through it multiple times, but never succeeded.
Depression? I got bleak suicidal rage. Which is weird; it's not even tuesday.
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I know several (low) millionaires and none of them exploited other people’s hard work.
checks under the hood
Where'd you, uh... where'd you get all that compound interest on your investments from?
All of them are self-employed, and one of them is the single employee of their company.
"I've never exploited anyone!"
"Oh really, what do you do for a living?"
"Insurance defense lawyer."
One of them is a self-employed pentester, they're very good at it. Pure income. The others are soft devs with their own product.
You can always move the goal post and say their clients are exploiting their employees, but we can keep moving it even further and claim that anyone who lives under capitalism exploits someone else down the line.
