Why is everyone here so rich

[Anonymous]

Anonymous wrote:What was the question? Go ahead have a SAHM. I made $20k according to my last paycheck of the year and live very well in NWDC.
You'll be fine, just make sure you SAHM uses the money as if you make $600k. I can come back from a store having spent $50, but it looks like I got $200 worth of food. No, I didn't steal any.

Typo in there? People who spend like they have $600K aren't chasing bargains at ALDI.

[Anonymous]

Anonymous wrote:High cost of living area with highly educated population.

+1

Lots of high paying jobs here.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:People say HHI, that’s not salary. If you have a high enough salary and/or inherited wealth your HHI should be way more than your w2s.

or investments. I hoard so much money, it's not all tax protected so I pay taxes on gains annually. See, I'm formally poor so have no idea on how to avoid taxes.

Just buy a mutual fund or buy and hold individual stocks. Or even a long term CD. Incurring substantial taxes takes work (active trading).

DP, but that's the issue. When you need your money and want to sell stocks, you have to pay capital gains on that. And sometimes, it's pretty hefty. There are legal ways around it, but you need the help of at least one trustworthy person.

[Anonymous]

I make 150k as a single and it can feel daunting to read these threads and people boasting of much higher incomes. Then I remind myself 150k as a single is effectively the equivalent of a 300k HHI for a couple, so that starts feeling a bit more understandable.

However, the other thing to keep in mind is that the UMC is very, very wealthy these days. The top 1% earner income (NOT HHI, but individual income) nationally is $819k.

To be in the top 5% of earners nationally is $335k. And that's nationally, with higher numbers in expensive markets like DC. My 150k isn't even in the top 10% nationally either, but in the teens.

Then it starts making sense why we see so many high incomes and high HHIs on this forum. There's a lot of high earners out there.

I now need to figure out why I'm not making 250k, LOL.

[Anonymous]

Oh ffs.

First, don't believe everything you read on the internet. It is often clear that a high percentage of responses on any given post are utter bs.

Second, you make 300k and you are worried about finances? Lol. You should be worried about wanting to "have" a SAHM. Women aren't objects ... you realize that, right?

[Anonymous]

Because it’s easy to be rich on here – you just type the numbers that make you feel good, and, voilà, you’re rich!

In the real world, it’s much harder and takes decades of work, study, saving and investing to be rich.

[Anonymous]

We're poly so even though we each only make $50k a year, our HHI is over $1M.

[Anonymous]

Anonymous wrote:On most forums about money, you see very few people make more than 250k individually or even HHI, yet here every thread has someone making 750k or higher at just one job. Also many people here with 8 figure NW’s or act like 5-10M is “barely enough”. According to this calculator 300k/yr at age 40 is 97th percentile https://dqydj.com/income-percentile-by-age-calculator/, I guess that doesn’t account for location but still.

Makes me feel like I’m doing something wrong with wanting to have a SAHM on my single 300k income.

You should check out the people makes 120K thread.

[Anonymous]

Anonymous wrote:We're poly so even though we each only make $50k a year, our HHI is over $1M.

Haha, good one.

[Anonymous]

High cost of living, highly educated population, few stay at home moms

[Anonymous]

Anonymous wrote:I make 150k as a single and it can feel daunting to read these threads and people boasting of much higher incomes. Then I remind myself 150k as a single is effectively the equivalent of a 300k HHI for a couple, so that starts feeling a bit more understandable.

However, the other thing to keep in mind is that the UMC is very, very wealthy these days. The top 1% earner income (NOT HHI, but individual income) nationally is $819k.

To be in the top 5% of earners nationally is $335k. And that's nationally, with higher numbers in expensive markets like DC. My 150k isn't even in the top 10% nationally either, but in the teens.

Then it starts making sense why we see so many high incomes and high HHIs on this forum. There's a lot of high earners out there.

I now need to figure out why I'm not making 250k, LOL.

Those numbers seem high for national statistics. Everywhere I can find the top 1% income for individuals nationally is in the 400’s

[Anonymous]

Anonymous wrote:Oh ffs.

First, don't believe everything you read on the internet. It is often clear that a high percentage of responses on any given post are utter bs.

Second, you make 300k and you are worried about finances? Lol. You should be worried about wanting to "have" a SAHM. Women aren't objects ... you realize that, right?

Get over yourself this isn’t tumblr

[Anonymous]

I'm not from the area but it's nice to come to a message board where people have similar budgets and concerns.

[Anonymous]

There are lots of message boards on Reddit where high income people talk about high income stuff like spending, retirement, investing, etc -- HENRY, FatFIRE, ChubbyFIRE, etc.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I make 150k as a single and it can feel daunting to read these threads and people boasting of much higher incomes. Then I remind myself 150k as a single is effectively the equivalent of a 300k HHI for a couple, so that starts feeling a bit more understandable.

However, the other thing to keep in mind is that the UMC is very, very wealthy these days. The top 1% earner income (NOT HHI, but individual income) nationally is $819k.

To be in the top 5% of earners nationally is $335k. And that's nationally, with higher numbers in expensive markets like DC. My 150k isn't even in the top 10% nationally either, but in the teens.

Then it starts making sense why we see so many high incomes and high HHIs on this forum. There's a lot of high earners out there.

I now need to figure out why I'm not making 250k, LOL.

Those numbers seem high for national statistics. Everywhere I can find the top 1% income for individuals nationally is in the 400’s

Not sure where you're looking because "everywhere" I look on google shows much higher figures:

https://www.investopedia.com/personal-finance/how-much-income-puts-you-top-1-5-10/

2021 Average Annual Wages
Group Avg. Wages
Top 0.1% of Earners $3,312,693
Top 1% of Earners $819,324
Top 5% of Earners $335,891
Top 10% of Earners $167,639

Breakdown by states:

https://smartasset.com/data-studies/top-1-percent-income-2023

DC's is a cool million to be top 1%.

There does seem to be confusion over whether numbers are individual earning or HHI and I suspect many of these articles blend them,