Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Well, maybe that is why this country is going downhill. Not you in particular (as I don't know your situation), but if someone can honestly say they make $300,000 and don't consider themselves rich or well off, there are some serious lifestyle problems going on in this country.
Im sorry but pulling in about 25,000 a month is very very very well off. If your lifestyle makes this amount seem like it isn't enough, well then maybe change should be looked at. Again I am not specifically talking about you, Im talking in general terms.
Seriously, what is going on in this country when $25,000 a month is not rich?
Im really curious about the type of people that post on this board. Do people on here run around with Millionaires? Im just dumbfounded at how $300,000 a year can be spent where you aren't able to save a ton and be considered wealthy.
Believe me, if you live in NY, SF, or even Austin- it's NOT rich.
Many got a good education to start off with. Some got education later in life.
Most are willing to put in many hours each week.
80 hour or more weeks, avg.
Marry someone also ambitious and with a great education and job. In fact, you both live together and are actually married to the companies that you work for, or as doctors in a much needed specialty in a high income area. Brokers, maybe?
No divorces.
Forgo children until you can afford them.
No major health issues.
Live modestly for your means. Invest wisely. Invest more. You'd be surprised at how it can add up.
What is the saying - 'Luck' is opportunity meeting preparation.
Every instance that passes their way that can further the 'goal' is not passed up.
Hopefully the health holds up.
Look at Cheney, with his multiple heart attacks.
Compare him with Bill Gates, who seems to be doing very well.
Some people are very smart and driven in life.
They are ruthless with themselves.
I am not sure, once they can retire early on fortunes, that they can enjoy life as you and I can, but it must be nice to have that choice.
As someone mentioned an income of $300,000 puts someone in the top .9% of income earners. I guess the definition of "middle" is subjective but lets not get ridiculous.
Again, you may be in the top range for the country as a whole, but you have to put that in perspective.
If you check out the top .9% of living areas regarding the cost of living, you'd find $300k about average for that area.
Wealth is relative, income must be measured against expenses.
It's been asked at what salary level is someone considered rich, and there has been some very interesting insight.
My question is, if a family has a combined income of $300,000 a year, are they considered "rich". Of course everything is relative, but in most parts of the US is this considered wealthy?
While this figure is clearly a large sum, I think it depends how old one is when they earn this kind of money which determines whether or not they are rich. If it's someone in their 30's or even 40's, I would argue that they are affluent (not rich).
But if it's someone in their 50's or 60's (who has yet to pay off their mortgage, drives luxury automobiles, travels extensively, dresses to the nines, enjoys fine wine and food) I would say they are not.
Even though a salary of $300,000 puts one in the top .9% of US income earners, I still do not consider this figure to be "rich". Do you?
If your asking what makes someone rich based on a number I would ask this.
Why does it matter?
Seems to me it only matters to those who need someone to measure something against for political and or taxing reasons.
None of which is anyone's business and or government and I still dont think we should have the IRS so instead of worrying about how much someone has in the bank tax what EVERYONE buys like 3% and be done will all taxes all together. Let states tax for what they need and be done.
This is stupid that we even need to have this discussion and only idiots in Washington look for new ways to screw us based on a income number.
Stop taking the number and just tax what you buy and tax everyone the same LOW LOW rate end the IRS and for once govenrment will be limited and not telling us what they will be giving everyone with other peoples money. Its not even the job of government anyway you elected people who think it is. THROW THEM OUT!
You know that a flat tax is unfair and only helps the rich, right? The higher up a person is in the tax bracket, the more of his income is invested and not spent. So the bulk of his money will not be taxed, while the lower you get on the income ladder the bigger the percentage of your earnings is spent, so you will end up paying a higher percent of your income than the top dogs.
This scheme sounds, at first, fair - but it is a huge escape hatch for the rich to pay less taxes without having to cheat or look for shelters. While I don't begrudge the rich because for many it is hard earned, I do object to conning the public, taking advantage of the poor and middle class.
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.
What - you are comparing a socialist economy with ours? That's just nuts!
German people are in a cradle to the grave economy. I mean, they don't worry as we do about our old age and medical bills, etc.
Probably college is free, or almost, too.
With that situation, every dollar, almost, that you take home is gravy.
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.
I guess we all have a different definition of 'rich'. To me, it is not merely anyone who makes more money than me or has a better life style. It is those at the very peak of the income ladder who do not need to put out any effort to attain that level.
Perhaps it is something that many on this forum cannot even imagine.
Believe me, if you live in NY, SF, or even Austin- it's NOT rich.
Median Household Income NYC - $77,400
Median Household Income SF - $91,900
Median Household Income Austin - $73,300
Your richer than most at $300,000. Your bucks go the furthest in Austin.
Are you filthy rich. No. Do you have to worry about living from pay check to pay check. No. Unless you have a large family or spend like a drunken sailor.
Can you really afford a 2M home. Not even if you
spend like a sailor whose been on the wagon
Really, just upper middle class.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
