its true though 2.5M gets you like a nice house but nothing special in a major city youre not gonna retire at 20 with that net worth especially at current interest rates and especially if you want to have kidshttps://twitter.com/MozarabMohan/status/1182051885047521280 …
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Replying to @eigenrobot
2.5M post tax lets you move to the suburbs and live off of $50k/yr from bonds (nothing) or $200k/yr from 8% stock market returns $200k/yr isn't rich, but one can surely retire on it and have a nice $600k house using 3:1 borrow vs income
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Replying to @MattCropp @eigenrobot
It's a middle class income for a family. Quite comfortable! Very comfortable! ...but not remotely "rich".
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Replying to @MorlockP @eigenrobot
Top 5% of wage earners is not remotely "middle".
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Replying to @MattCropp @MorlockP
might be when you adjust for local cost of living
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Replying to @eigenrobot @MorlockP
To a certain extent, but there's a lot of lifestyle inflation at play in those situations, too. Feeling entitled to sending kids to private schools, etc.
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I was a fac brat in a prep school, and I distinctly remember a certain classmate claiming to be middle class by referencing the cost of yacht sails as a burden. His sister threw a tantrum when the family got a A4 rather than an A8, b/c "that's what poor ppl drive".
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Replying to @MattCropp @MorlockP
I mean full context I earn more than 200k in Seattle its comfortable but not, you know, /comfortable/ I don't own a car, I have no idea how I'll ever afford a down payment on a house here Possibly I oversave idk But I surely dont feel RICH
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Downpayment? Thought most houses in Seattle/Redmond/Bellevue usually require a full cash payment due to demand.
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oh welp
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