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You do not know what your talking about my friend.......
I know two people "very well" who have medi education and make 1.5mil plus annually......
They have different occupations and spend more time in restraunts , fun trips, golfing ect ect ect ect...than you know.
Come to think of it I know quite a few mega dollar earners who basically "think" they work hard but "do not" have one clue as to what that word means..... Heres an easy one just thinking.......
Guy opens Donut shop.....Donut shop in 2yrs earns 1mil after all the
expences......
Guy pays employee's ...B-ll Sh-t Wages.... and does not work hard.
Give yourself a reality check pal....the economy is a farce because every Tom Dick and Harry wants to be who.....?
Thats right ...Bill Gates and laughs on the backs of all the workers
with this min wage baloney........
Hey ...all you greedy slobs......If you can't pay people properly...
DO IT YOURSELF
WAKE UP PEOPLE
"Work", what does that word mean?
Many presume that word to mean some sort of physical labor - which of course is not necessarily the case. "Work" can mean doing something smarter rather than "harder"
If one can make a good living by opening that Donut Shop, then as long as they make good creme filled donuts, more power to 'em.
In Germany one is officially considered rich when their income (in the case of a single person) is above ~$4,800 per month, i.e. ~$58k per year.
So yes of course 300k a year makes a family rich.
My point exactly. Often times people with these incomes live in homes that cost anywhere from $500k to $700k, lease luxury cars, dress well, and generally live an opulent lifestyle.
Even when saving, I agree that after all of your expenses, you're still not rich. Although this income affords you more expensive things than someone making $30k a year, you still are working and paying for items.
agreed. This is a nice article about this group of people:
This is the world of the HENRYs, an acronym we'll use to describe people whose financial situation can be summed up by the phrase "high earners, not rich yet." (I coined the term for a Fortune story in 2003 on the alternative minimum tax, or AMT, the bane of the HENRYs.) Put simply, the HENRYs are the bulwark of the professional and entrepreneurial class that drives the economy. Look in the mirror, Fortune reader, and you'll probably see a HENRY.
They are relentless strivers. Aspiring HENRYs played by the rules and did everything right: They won the best grades in high school, got accepted at good colleges and grad schools, and worked daunting schedules as medical interns or associates in law firms. They're an upwardly mobile group: Most HENRYs used their talent and grit to advance from the middle class, and those who got a hand from affluent parents are determined to do even better for their kids.
"These high earners may come from privileged, upper-middle-class backgrounds or be the children of immigrants," says Phillip Cook, a financial advisor in Torrance, Calif. "What they have in common is that they worked incredibly hard to build their careers and work incredibly hard to move ahead." Now this group of superachievers is being targeted as a cash machine. Barack Obama, the Democratic presidential nominee, has pledged to pay for middle-class tax cuts and credits by raising taxes on the HENRYs. "It's time for folks who make over $250,000 a year to pay their fair share," Obama has declared regularly on the campaign trail.
Obama and the congressional Democrats frequently refer to households earning over $250,000 as the "rich" and the "wealthiest Americans." But whether the HENRYs are truly "rich," or ever will be, is debatable. In Fortune's interviews with two dozen HENRYs from Charlotte to Concord, Calif., what emerged was a portrait of families a world away from the private jets, luxury vacation homes, and heated garages with Bentleys and Porsches lined up headlight to headlight that typically represent America's vision of "rich."
Making 300k is not rich if your working 16 hrs a day 52 weeks a year and thousands of miles away from your family!
I have known people who work decent jobs but work their asses off to make 200k
Are they rich?
Rich for me is described as an ability to live a certain lifstyle with out working...
that is if you were to stop working today, how long would you be able to sustain yourself at your lifestyle..
So if there is someone out there that has enough wealth (assets, cash, ect) and that gives them 300k a year to live off of... they are much more rich then the person who works 7 days a week to make 500k a year IMHO
think!!!!!! robert kiyosaki and the cash flow quadrant!!!!!
Making 300k is not rich if your working 16 hrs a day 52 weeks a year and thousands of miles away from your family!
I have known people who work decent jobs but work their asses off to make 200k
Are they rich?
Rich for me is described as an ability to live a certain lifstyle with out working...
that is if you were to stop working today, how long would you be able to sustain yourself at your lifestyle..
So if there is someone out there that has enough wealth (assets, cash, ect) and that gives them 300k a year to live off of... they are much more rich then the person who works 7 days a week to make 500k a year IMHO
think!!!!!! robert kiyosaki and the cash flow quadrant!!!!!
I suppose by that definition, Bode Miller, before he became an Olympic superstar, was rich. Family income was only about $1000 a year, but their house was paid off, they raised their own food, they had their needs covered with income well below the official poverty level.
The link between education and wealth is a shaky one at best. A Pete Rose story comes to mind. Back in his day as a ball player, Pete Rose was one of the highest paid players of that time. That didn't stop the reporters from getting on his case about his lack of a college degree. They would ask questions like, Hey Pete where did you go to college? And Pete would respond, I didn't go to college, but I'm thinking about buying one!
If one makes 300K a year and that amount is not enough then they are managing their money poorly.
300k a year makes you rich and easily can afford you home,car,school,and even vacations. That makes you rich IMO.
If one makes 300K a year and that amount is not enough then they are managing their money poorly.
300k a year makes you rich and easily can afford you home,car,school,and even vacations. That makes you rich IMO.
it may make you well-off, but it doesn't make you rich. Someone making $300 K/year still has to go to work every day to put food on the table, keep the mortgage and car paid etc.
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