You're probably not wrong, as they say. But remember, as the host noted, he wasn't including everything. When I lived in Manhattan, monthly parking was $1k a month. Simple pizza dinners were $35. Movies were $45 for two. My point is that there are a lot of other expenses to eat int that residual income. I have a fair amount of personal opinions / tastes to explain here too, but willing to just let the general facts speak or stay silent, however the case may be.
He conveniently forgot the most important thing, salaries at higher cost of living places are also higher. For example, a software engineer is paid 150k in San Francisco Bay Area will be offered 100k in some mid west city. So the comparison made by this dude is biased.
Uhhh.... what? For all that's left out here, that's exactly what he didn't forget. The host picked a $250k salary. That's the one and only and singular starting point lol. No need to compare specific jobs or duties or shifts or complexity... it appears you're wondering about doing that here with your question? His very simple point remains that $250k is not $250k is not $250k from one locale to another. That a garbage truck driver in NYC makes the same as a tenured HS teacher in KS has zero bearing on the starting point of $250k is $250k in currency... but not spending power.
And while I'm very much not trying to be rude, given the context of OP's post, I feel the need to clarify the economic mentions in my post: no, I'm not saying a trash truck driver in NYC nor a teacher in KS make $250k.
Yeah. It’s pretty pointless. Not only that… it’s an anti-worker approach to pay people based on what you assume their living expenses are (or if they are a guy or if they support a family). People should be paid for the value of their work. Period.
$275000aud gross / income tax $172,000aud . Cars are expensive in Australia . Lawyers , Doctors on this wage can only afford a $140,000 - $180,000 aud cars M3 , c63s , Cayman s
$6k disposable money/month ... not rich ? geez! that's money you can directly invest after basic necessity paid. you want to eat lobster/steak and champagne EVERY DAY ? you can!
I mentioned this mindset in top post. Missing other expenses, blah bleh yada, so the # is going to be lower, but the math of nearly 2x residual is still significant. I think?
How do most politicians go to law school and are “supposedly” highly educated but can’t understand something as basic as income disparity between geographical location.
250k in New York is still amazing. You can look up a studio rn in Manhattan for a price of 1500$ probably in a bad area, but your expenses probably come out to maybe 2500$? Let’s just say for some reason it’s worse, 4000. You’d still have 15k-16k for investments, savings or idk whatever dumb shit you can think of like living in Kansas.
Quick search yields 4% of KS households are $250k+ and 2% of KS individual filers are $250k+ (no doubt overlap there). This compares favorably to the 5% of ALL American households earning $250k+. No surprise, as per capita income with cost of living deducted is nearly inverse than without it. (PM if you want the full bell curve.)
Ok here’s my thinking In 2021 you need to make $78K a year to be upper middle class as a single person But if your married you need $100K as a household income to be upper middle class in most places In my opinion if you live alone and and make $150K I’ll classify you as rich because your not only closer to the top 5% but the average household income is $62K which 62K is ok money but you can live pretty comfortably on it I will only classify $250K as rich if you are single if your married your just upper middle class You need $350K to be rich
250k/y isnt even close to being rich. Let’s try 750k/y but even then you’ll be taxed heavily nearly 400k. To be rich you need about $10M minimum of a total net worth of assets.
10 mill is not the minimum for being rich I’d say around 1 mill. Ur basically said someone with 8 mill is not rich. To be a millionaire u prob have to make 500k a year 🤷🏾♂️
It surely isn't close to being poor. The things you could do with $6000 left each month. You have enough for investments to grow your wealth even more. YOu don't need a million dollars to be rich. That is the biggest lie going around today.
After all those expenses and still $6,000 left?? I'd say that's quite a comfortable income
True like after Bill's 6k left that's 72k a year in spare money you could buy a new iphone 11 pro every month
No no shut up bro... what are you even saying
s hm?
@@Diegosmoni hm
You're probably not wrong, as they say. But remember, as the host noted, he wasn't including everything. When I lived in Manhattan, monthly parking was $1k a month. Simple pizza dinners were $35. Movies were $45 for two. My point is that there are a lot of other expenses to eat int that residual income.
I have a fair amount of personal opinions / tastes to explain here too, but willing to just let the general facts speak or stay silent, however the case may be.
$187 for food in Manhattan? That must be per day.
Being rich is a mindset.
You sound stupid
Explain how
@@popularpopcorn7897 you sound stupid... everything is a mindset
Can’t tax a mindset
Food cost 187 a month in NYC? And 112 a month in Kansas? how is that possible
AAA P the cost of it
Aldi
He conveniently forgot the most important thing, salaries at higher cost of living places are also higher. For example, a software engineer is paid 150k in San Francisco Bay Area will be offered 100k in some mid west city. So the comparison made by this dude is biased.
Anyone taking 150k in SF is both an idiot and homeless.
Uhhh.... what? For all that's left out here, that's exactly what he didn't forget. The host picked a $250k salary. That's the one and only and singular starting point lol. No need to compare specific jobs or duties or shifts or complexity... it appears you're wondering about doing that here with your question? His very simple point remains that $250k is not $250k is not $250k from one locale to another. That a garbage truck driver in NYC makes the same as a tenured HS teacher in KS has zero bearing on the starting point of $250k is $250k in currency... but not spending power.
And while I'm very much not trying to be rude, given the context of OP's post, I feel the need to clarify the economic mentions in my post: no, I'm not saying a trash truck driver in NYC nor a teacher in KS make $250k.
Yeah. It’s pretty pointless. Not only that… it’s an anti-worker approach to pay people based on what you assume their living expenses are (or if they are a guy or if they support a family). People should be paid for the value of their work. Period.
$275000aud gross / income tax $172,000aud . Cars are expensive in Australia . Lawyers , Doctors on this wage can only afford a $140,000 - $180,000 aud cars M3 , c63s , Cayman s
What about software engineers? You know some of them make more than 100k at 22yo and will make much more in 3 years
@@valhal9331 sir u were absolutely right
$6k disposable money/month ... not rich ? geez! that's money you can directly invest after basic necessity paid. you want to eat lobster/steak and champagne EVERY DAY ? you can!
I mentioned this mindset in top post. Missing other expenses, blah bleh yada, so the # is going to be lower, but the math of nearly 2x residual is still significant. I think?
Uh so you’re saying take away the money they could invest?
How do most politicians go to law school and are “supposedly” highly educated but can’t understand something as basic as income disparity between geographical location.
This video was made 11yrs ago. Deduct another 5 thousand from that net pay for 2022.
If you are in Arlington,VA(right next to DC), you just barely made the median.
Jawlan M Us Virginians know the struggle...
They still get hella google points for the low
250k in New York is still amazing. You can look up a studio rn in Manhattan for a price of 1500$ probably in a bad area, but your expenses probably come out to maybe 2500$? Let’s just say for some reason it’s worse, 4000. You’d still have 15k-16k for investments, savings or idk whatever dumb shit you can think of like living in Kansas.
Who makes $250k in Kansas?
lol very few people
Doctors who couldn’t find high end jobs in wealthy areas
Doctors, high profile Lawyers, business owners, executives.
Doctors, high profile Lawyers, business owners, executives.
Quick search yields 4% of KS households are $250k+ and 2% of KS individual filers are $250k+ (no doubt overlap there). This compares favorably to the 5% of ALL American households earning $250k+. No surprise, as per capita income with cost of living deducted is nearly inverse than without it. (PM if you want the full bell curve.)
thats is why you dont live in cities that are expensive
1:56 wheres la
At the end of the day, Manhattan, Kansas will forever be mid.
That is still a lot of money left over. No paycheck to paycheck living in either city. No one is in the negative.
In alaska you pay more for food than you do for rent, car, gas, etc. Combined... because import is so costly bread is 15 bucks
Fuck it, moving to Kansas
No it upper middle class
rich are the top 0.1 who owns the same amount of wealth as the bottom 90 %
Ok here’s my thinking
In 2021 you need to make $78K a year to be upper middle class as a single person
But if your married you need $100K as a household income to be upper middle class in most places
In my opinion if you live alone and and make $150K I’ll classify you as rich because your not only closer to the top 5% but the average household income is $62K which 62K is ok money but you can live pretty comfortably on it
I will only classify $250K as rich if you are single if your married your just upper middle class
You need $350K to be rich
My dad makes 800k a year. We live in honduras and own 3 gas stations. Iam 15 by the way. I just wanted to let you guys know.
Luas Mono noice
My mom is a plastic surgeon but doesn’t make as much as you guys D:
What a shithole
Dollars obvoiously wtf.
Also by the way my dad has 4 and a half mil in his bank account. When I turn 25 iam gonna be a millionaire
250k/y isnt even close to being rich. Let’s try 750k/y but even then you’ll be taxed heavily nearly 400k. To be rich you need about $10M minimum of a total net worth of assets.
Someone making $250,000 a year should retire with a net worth near $10,000,000.
10 mill is not the minimum for being rich I’d say around 1 mill. Ur basically said someone with 8 mill is not rich. To be a millionaire u prob have to make 500k a year 🤷🏾♂️
It surely isn't close to being poor. The things you could do with $6000 left each month. You have enough for investments to grow your wealth even more. YOu don't need a million dollars to be rich. That is the biggest lie going around today.
1:56 wheres la