Scraping by on $500K/year. (investments, cost, median, claim)

[NewbieHere]

Originally Posted by Lowexpectations

It's actually 8-10 times NYC median income

I expected this type of comment. Yawn! Why don't you try to live there. Let's not villify people. It's median and that includes miminum wage workers who live with their parents.

[lottamoxie]

Originally Posted by NewbieHere

$500k is nothing in NYC.

I'll take that "nothing," please.

[NewbieHere]

Originally Posted by lottamoxie

I'll take that "nothing," please.

Nothing means not a huge amount for NYC standard.

[Mr. Zero]

Originally Posted by NewbieHere

$500k is nothing in NYC.

$500k is something, no matter where you live.

[lottamoxie]

Originally Posted by NewbieHere

Nothing means not a huge amount for NYC standard.

I know full well what it means; I lived in a very expensive city for almost two decades, on the West Coast.

[Lowexpectations]

Originally Posted by NewbieHere

I expected this type of comment. Yawn! Why don't you try to live there. Let's not villify people. It's median and that includes miminum wage workers who live with their parents.

I'm not vilifying anyone but your comment was entirely absurd. I'm also well aware of what median means

[mizzourah2006]

Originally Posted by Lowexpectations

I'm not vilifying anyone but your comment was entirely absurd. I'm also well aware of what median means

Yup, its akin to saying $250k/yr is nothing in Tulsa, Oklahoma.

[TheOverdog]

I'm also well aware of what median means

I was unaware that NYC was the only city where median income does include minimum wage workers who live with their parents.

I guess everywhere else they aren't included or they don't live with their parents.

[synchronicity]

Originally Posted by NewbieHere

I expected this type of comment. Yawn! Why don't you try to live there. Let's not villify people. It's median and that includes miminum wage workers who live with their parents.

Originally Posted by TheOverdog

I was unaware that NYC was the only city where median income does include minimum wage workers who live with their parents.

I guess everywhere else they aren't included or they don't live with their parents.

No, NewbieHere must be correct. I'm sure in New York City minimum wage workers MUST live with their parents. Whereas in other cities, they are forced to live in their own apartments and can't even have roommates. That's why people earning a half-million in NYC spend their time panhandling when they're not working 80 hours/week in large law firms while simultaneously logging over 16,000 miles EACH in their luxury cars in spite of living in the densest population center in the country. (the mileage must be from all the time they spend circling around trying to find decent parking).

Also, you need to check the income distribution for NYC. I'm sure that unlike Every Other Major City in the World, where it's a skewed distribution that "lumps up" on the low end but has a long tail to the high end, in NYC exactly half the population (+1 person) are minimum wage workers (living with their parents, of course), and the other half earn a half-million plus a year, with nothing in between. Which is why it's "not a lot" by NYC standards, because there are hedge fund managers getting annual bonuses in the 9 figures, after all. "Mid-six figures" is barely over middle class!

(the internet SO needs a sarcasm font!)

[lae60]

Guess they do not have utilities--no water, gas, electricity, sewer, satellite TV, phone, or trash service.

Must be nice!

Guess they do not buy anything like toilet paper or soap either!

Poor, poor folks pay more in child care than most folks make, let alone $12k a month in mortgage!