How to tell someone is rich? (address, pay, million, dollars)
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Before I retired, when I was filing taxes for folks. I saw a lot of W-2s. If you focus on salary income, then you are likely not looking at earnings of very much. How many people are paid salaries over $500k?
If your entire income is from a salary then your a wage-slave, and likely not very wealthy. Granted there are a very wage-slaves who have high salaries, but those are very rare.
America has thousands of people who 'bring in' Multi-millions every year, more often it is from businesses they own, and most of that is being re-invested and sheltered so they do not pay taxes on it.
When I was collecting apartment buildings, I never took an income from any of them. On my tax filing, my Schedule Es always showed they were flush. I reinvested every penny back into them to build their Net Worth. Instead of being paid a taxable income.
Say you own a cleaning service: a building, 8 vans loaded with equipment and 10 employees. If your building Net Worth then you likely only draw as much as you need for your family, and you keep the rest of the profits in the business so your not paying taxes on it. You might Gross $10Million a year, but your W-2 might only show $80k or $100k. Your W-2 will likely not show your true income.
That is why businesses often run multiple sets of books.
It always amazes me how people think they know what rich people do.
You CAN get rich earning a salary if you work for a public company as a high level employee because you get bonus and stock.
It always amazes me how people think they know what rich people do.
You CAN get rich earning a salary if you work for a public company as a high level employee because you get bonus and stock.
3000 workers who started with home depot as lower level workers are millionaires today .
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Home Depot co-founder on rising number of 401(K) millionaires
When Ken Langone co-founded Home Depot in 1978, he not only helped create what would become the world’s largest home improvement retailer, but he also changed the lives of thousands of employees.
“We have 3,000 kids – a kid at Home Depot, if you’re under 83 you’re a kid,” Langone told FOX Business’ Maria Bartiromo on Tuesday. “We have 3,000 kids that started in the parking lot – entry level that are multimillionaires today.”
Ann-Marie Campbell began her career as a cashier, and today, she is the executive vice president of U.S. stores.
Home Depot has nearly 400,000 associates and more than 2,200 stores in the U.S., Canada and Mexico, according to its website. It has paid employees more than $1 billion in profit sharing over the past five years.
we went on a trip last weekend with a few other families. most of the time, when the bill came we each gave our credit cards for an even 4 way split. one of the guys throws down his amex black card. another guy asked if the annual fee was 4-500 and he says $5,000. that is a lot to pay for the honor of having a prestigious credit card.
I’ve found that many wealthy people keep their money to themselves. I’m not saying all....but the ones I know are pretty alligator armed when it comes to getting the bill. My aunt and uncle are a prime example. It’s not their job to get the bill at all but they never ever offer.
we went on a trip last weekend with a few other families. most of the time, when the bill came we each gave our credit cards for an even 4 way split. one of the guys throws down his amex black card. another guy asked if the annual fee was 4-500 and he says $5,000. that is a lot to pay for the honor of having a prestigious credit card.
I think he misunderstood. The initiation fee is $5000. Or it was. I think they may have raised it to $7500 recently.
I think he misunderstood. The initiation fee is $5000. Or it was. I think they may have raised it to $7500 recently.
The yearly fee is only $2500.
i just checked online and it looks like its going to $5k next year. i kind of remember him saying something like it being $2,500 but now it is going to be $5k.
one of the other guys was using the amex platinum. i didnt recognize it from when we had it, it looks fancier now.
How to tell if someone is rich? You can’t always tell for sure but beautiful straight teeth (as the OP mentioned) would be an indicator, for sure. I’d also list nicely fitting high end clothing, likely made of natural fibers, expensive hand jewelry, ownership of a high end car, resident in an exclusive neighborhood, multiple residences, expensive vacations. If the OP wanted to know how to recognize a rich person without knowing much about him or her, I’d rely the first three things I enumerated and body language. The rich are usually very secure in their wealth and give off a certain physical assuredness.
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