Reply to Harvard grads earn $81,500 at age 34

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I went to Yale UG and Harvard PG.

Here’s what you’re missing:

1. Wealthiest people I went to school with either don’t work or they work vanity jobs, like setting up a nonprofit, something in arts, media, etc.  Little or no “income”, which is for poor people.

2. Others of the wealthiest people I know are in PE, real estate, partnerships, etc. Again, little or no “income”, which is for poor people.

3. Those in academics, research, medicine, and sometimes law are just short of crossing the threshold to actual money at 34.

4. Plenty of HYPS grads, even if they’re not from Uber wealthy backgrounds like those above, have parents who are doctors and lawyers or whatever and are perfectly comfortable, plus expect to inherent well into 7 figures. So they’re fine choosing “meaningful” work that pays less: they work in museums, or at foundations, or in journalism. They sail around the world on a solar powered boat and make a documentary about.

5. Ironically, it is the poorest of the group—the strivers, first generation college kids, etc.—who bolster those “income” numbers. They are busting their asses in finance, law, consulting because they don’t have the wealth to fall back on. They are generating it to move their kids into one of the above  [b]groups.

The US would be far more equitable if regular people could be made to understand that income is for suckers. Income tax fights and other income-based comparisons pit the poor against the MC against the UMC. It all missed the point about the tiny band at the top that doesn’t care about income. [/quote][/b]

This is it.[/quote]

Poor and most MC need income from a job.  Being indigent with no job is being a loser.

Income is not "for suckers" regardless.  Income comes from jobs, investments, business ownership.  Unemployed rich trust fund kids should have income.  And if their funds or rental real estate or whatever isn't earning income, and they are just depleting principal to live, then they are the suckers.[/quote]

Another poor talking. In the vast majority of the trusts, you can't touch the principal. [/quote]

Without touching principal or being a "sucker" using income, pray tell you idiot where cash to spend comes from?  What did you major in - basket weaving?

I'm an accountant + lawyer, but please, amuse me. [/quote]

Moreover, first you allege "income" is for suckers.  But now, you indicate principal is in fact earning income.  So are they suckers?  Should they move all funds to a checking account to avoid earning income?[/quote]

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