I don’t know a single person making 7 figures

[Anonymous]

I know several married persons making 7 figs, but no one single.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I don’t know anyone who does either (I mean I know they make a lot but I’ve never discussed salary). But honestly 1M pre-tax isn’t that much in this area. It’s pretty easy to blow that much on a nice house with a good commute, a few kids in private school, kids activities, etc. I think that in this area you would need more like 2M to live the lifestyle you imagine you could get for 1M.

Sighhh. So we’ve now reached the point in DCUMisms that $1 million per year in income is not that much. Lol ok. Wasn’t the “not that much” number like $300K a few years back?

I don’t mean it’s not a lot! When I said “not that much” I meant it’s not some massively lavish salary where you can go hang out on yachts and own horses and look perfect all the time. A million dollars a year would be a lot to me, but it won’t get you the lifestyle I think people imagine it would, not here. My point in saying this is that I bet OP does know people (or at least has met people) who make seven figures, but it just doesn’t seem like they do.

[Anonymous]

Anonymous wrote:I know several married persons making 7 figs, but no one single.

I make 7 figures. Law

[Anonymous]

You don't make $1M in tech you make it as a business owner

[Anonymous]

Anonymous wrote:You don't make $1M in tech you make it as a business owner

Wrong.

https://www.levels.fyi/companies/microsoft/salaries/software-engineer/levels/69

[Anonymous]

You can definitely make $1m in tech without breaking a sweat or even being very senior

[Anonymous]

Because people don’t talk about their income to other people, unless they’re obnoxious narcissists?

[Anonymous]

Agree with 21:47, $1m is a lot but you don’t necessarily have a lifestyle you would think you would have. This year we made over $1m together for the first time, both in corporate jobs, and still have 1 car in DC, are still in the same house from 15 years ago despite quadrupling the income. If you want to build net worth, don’t scale up the lifestyle.

[Anonymous]

Anonymous wrote:

Anonymous wrote:A lot of well paid lawyers on this thread. But reminder: No one on earth makes more money than successful business owners. The super rich don't get that way because someone is paying them a salary. They get rich from owning businesses that become incredibly valuable.

Very true.

Lawyers do, however, know how to read something, identify relevance, and respond accordingly.

You keep harping on business owners having a better chance of becoming “super rich”. No sh$t. It’s an entirely different risk-reward calculus: exponentially more absolute failures, proportionally much less likely to be a moderately successful low-level millionaire, and a slightly greater but still infinitesimally small likelihood of becoming “super rich”.

In any case, that’s not at all the subject of this thread, so I don’t know why you keep posting different variations of the same statement.

Oh wait, yes I do. Envy and insecurity.

I mean, a ton of people know how to do this. If the only value lawyers add to society is, "they can read and reply," that isn't really coming anywhere near justifying the salaries people are throwing around.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:A lot of well paid lawyers on this thread. But reminder: No one on earth makes more money than successful business owners. The super rich don't get that way because someone is paying them a salary. They get rich from owning businesses that become incredibly valuable.

Very true.

Lawyers do, however, know how to read something, identify relevance, and respond accordingly.

You keep harping on business owners having a better chance of becoming “super rich”. No sh$t. It’s an entirely different risk-reward calculus: exponentially more absolute failures, proportionally much less likely to be a moderately successful low-level millionaire, and a slightly greater but still infinitesimally small likelihood of becoming “super rich”.

In any case, that’s not at all the subject of this thread, so I don’t know why you keep posting different variations of the same statement.

Oh wait, yes I do. Envy and insecurity.

I mean, a ton of people know how to do this. If the only value lawyers add to society is, "they can read and reply," that isn't really coming anywhere near justifying the salaries people are throwing around.

Interesting you say this while missing entirely the point of the post. Context is your friend.

[Anonymous]

If you count my equity, I do. Not to brag, I've just been very lucky. I work in tech. There's a lot of people like me.

Look at the chart in the middle of this page. The top 1% of 3/4s of the most likely age demographics make seven figures. That's 55,000 households in the DC metro area alone pulling that kind of money.

https://www.fool.com/the-ascent/personal-finance/articles/whats-the-income-of-the-top-10-5-and-1/

Not to trivialize it, but it's more common than you'd think.

[Anonymous]

Anonymous wrote:A lot of the posts are fake.

This.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Biglaw

Biglaw = Bigliars. Most people in BigLaw aren’t making nearly as much as they anonymously advertise on sites like this. They’re almost always living well beyond their means and operating at the grace of extensive family money.

So, I know some people who say they’re making a ton of money are lying, but some who accuse others of being liars are liars themselves. Or just misinformed. Out of maybe 100 big law attorneys I know, exactly two come from extensive family money.

I think that most families who have real generational wealth wouldn’t encourage their kids to do law. They’d encourage business/finance instead. A lawyer who is making a million dollars a year at a big law firm isn’t rich, he is a service worker for the rich. That doesn’t mean he’s lying about his income.

That’s so weird. I also know a lot of lawyers. Not one of them attended college as a FGLI, not one of them wasn’t receiving significant funding from family to pay for law school, and not even one of them stopped to admit that their alleged success was entirely attributed to family money. Deception goes hand-in-hand with being a lawyer. They’re virtually inseparable from one another.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Biglaw

Biglaw = Bigliars. Most people in BigLaw aren’t making nearly as much as they anonymously advertise on sites like this. They’re almost always living well beyond their means and operating at the grace of extensive family money.

So, I know some people who say they’re making a ton of money are lying, but some who accuse others of being liars are liars themselves. Or just misinformed. Out of maybe 100 big law attorneys I know, exactly two come from extensive family money.

I think that most families who have real generational wealth wouldn’t encourage their kids to do law. They’d encourage business/finance instead. A lawyer who is making a million dollars a year at a big law firm isn’t rich, he is a service worker for the rich. That doesn’t mean he’s lying about his income.

That’s so weird. I also know a lot of lawyers. Not one of them attended college as a FGLI, not one of them wasn’t receiving significant funding from family to pay for law school, and not even one of them stopped to admit that their alleged success was entirely attributed to family money. Deception goes hand-in-hand with being a lawyer. They’re virtually inseparable from one another.

Bro, I hate to break it to you but just going to college and law school and graduating with no debt is not the definition of success. Isn't this thread about people who make 1MM a year? Is that what this family money is paying the kid?

[Anonymous]

Anonymous wrote:

Anonymous wrote:I know several married persons making 7 figs, but no one single.

I make 7 figures. Law

You are married.... to the job