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Given that the median U.S. HOUSEHOLD income as measured by the census bureau was $53,647 in 2014, there is clearly something skewed on this board. People here are way, Way, WAY above the median. 6 figure household puts you in the top 19%. For individuals, in the top 10%.
For households with a net worth over $500K that similarly puts them in the top 20% of all households, 1 million in the top 10%. For individuals, 10% and 5% respectively.
So either we've got a bunch of b.s.ers or we've got a board made up of elites. If you are in the top 10% of anything you are by definition one of the elites. People saying that anyone can achieve this kind of net worth is obviously exaggerating, since 100% of people cannot possibly be in the top 10% of anything ever.
The C-D userbase is not representative of the US population in any way. Many have found these forums in the process of relocating for a job. If you are crossing state lines for a new job, I can guarantee these are higher income gigs.
I think most of the people who posted on this thread have posted accurate numbers, but the type of people who would post to a thread in a personal finance section in C-D are going to be higher income people. The majority of the people posting here are either professionals (engineers, doctors, business/finance, lawyers) or created small businesses.
I don't doubt that most are accurate but there has been a lot of poetic license taken on this thread with income and net worth. Outstanding loans are liabilities regardless of intent to default and income not yet realized is neither income nor an asset. Excuse my slow typing. Strained a pec benching 525 this morning.
I don't doubt that most are accurate but there has been a lot of poetic license taken on this thread with income and net worth. Outstanding loans are liabilities regardless of intent to default and income not yet realized is neither income nor an asset. Excuse my slow typing. Strained a pec benching 525 this morning.
Do you have specific examples of posters who you KNOW inflated their net worth using the tactics you described? There was a least 2 that I saw that were clearly satirical. The rest seemed reasonable.
How did you accumulate so much real estate equity at such a young age, especially given you were renting and considering buying a <$150k condo just 5 months ago? Thinking about moving to Sterling Park
How did you accumulate so much real estate equity at such a young age, especially given you were renting and considering buying a <$150k condo just 5 months ago? Thinking about moving to Sterling Park
Ahh you found my post scoping out a foreclosure in Sterling park
How did I do it? I had 4 years not 5 months. I have never rented in my life, went straight from my parents home to my current home which I own.
Ahh you found my post scoping out a foreclosure in Sterling park
How did I do it? I had 4 years not 5 months. I have never rented in my life, went straight from my parents home to my current home which I own.
"I currently rent an apartment in Annandale and work in Reston"
I'm sorry, but your post screamed "BS" the minute you referred to Zestimates and property tax assessments in your valuation of your hypothetical real estate assets.
No bank would give you 1/2 million dollars in loans at the age of 19 without established income sources aside from your "web business". If there is any truth to any of it, you had to have considerable help from outside sources (ie, parents or an inheritence).
22003yo, one of you is lying: "past you or present you"... out with it!!!
LOL, i hope its past you... doing well you are!!
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