Anonymous
Post 01/05/2024 13:48     Subject: Why is everyone here so rich
I’m an early retired Biglaw partner who was making close to $1 million a year at my former firm as the sole earner when I quit nearly a decade ago. And I was one of the lower earning partners in my firm. So I don’t doubt the numbers being throw around on this site. Not for a second.
Anonymous
Post 01/05/2024 13:24     Subject: Why is everyone here so rich
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
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.




If they were previously making $800K, they are chasing bargains.

Many people making $600-800K+ are still "frugal". We want to get a good deal, don't like to overpay and don't like to waste money.
That allows us to spend our money elsewhere on things we really value, or to save more.



+1


+1

7 figures and we still regularly shop at Costco.
Anonymous
Post 01/05/2024 12:56     Subject: Why is everyone here so rich
DCUM self-selects for NW DC and adjacent MoCo, both of which are expensive places to live.
Anonymous
Post 01/05/2024 11:48     Subject: Why is everyone here so rich
Rich? And all the posts refer to income levels. You guys are missing the ball. Rich/wealth isn't income, now they do relate for the most part, but real wealth is the ability to generate large amounts of passive income. So work is optional.
Anonymous
Post 01/05/2024 03:01     Subject: Why is everyone here so rich
Anonymous wrote:
Anonymous wrote:
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


What? What are you on about?


The silly wokescold you made
Anonymous
Post 01/04/2024 23:46     Subject: Why is everyone here so rich
We aren’t rich. 160-180 and that’s new to us. Mostly DH. I am a Sahm returning and I am making some, but progress is slow.

We lived in a couple low cost of living areas for most of our career, so it was much lower.

Student loans too.

I just don’t chime in much about the details…if I even hang out here. I’m not here all the time.
Anonymous
Post 01/04/2024 23:26     Subject: Why is everyone here so rich
Anonymous wrote:
Anonymous wrote:Because people make things up online.


This. I read the private school thread about vacations and there were people posting pretending to know Telluride. It's mostly smoke and mirrors.


What mean you? They don't actually go?
Anonymous
Post 01/04/2024 23:25     Subject: Why is everyone here so rich
Anonymous wrote:Probably just how the board developed. Once it started that way it stayed, people with high incomes now respond.

Rich have to find places to talk rich too 🤑


I think some of this. DMV has lots of high earners. Need somewhere to chat.
Anonymous
Post 01/04/2024 20:58     Subject: Why is everyone here so rich
Anonymous wrote:Because people make things up online.


This. I read the private school thread about vacations and there were people posting pretending to know Telluride. It's mostly smoke and mirrors.
Anonymous
Post 01/04/2024 19:56     Subject: Why is everyone here so rich
Because people make things up online.
Anonymous
Post 01/04/2024 19:13     Subject: Why is everyone here so rich
Anonymous wrote:
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,


Those numbers are definitely household income not individual income. The second article you linked specifically calls it out. HHI is more commonly referenced in general.

Top 1% individual income (nationally) is closer to 400, DC I’m sure is a lot higher, maybe 600-700. Most people who make this much are older and married to someone else with a career so their HHI would be higher too.

https://dqydj.com/top-one-percent-united-states/#:~:text=%24591%2C550%20is%20the%20cutoff%20for,earner%2C%20the%20cutoff%20is%20%24407%2C500.
Anonymous
Post 01/04/2024 14:13     Subject: Why is everyone here so rich
Anonymous wrote:
Anonymous wrote:
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.




If they were previously making $800K, they are chasing bargains.

Many people making $600-800K+ are still "frugal". We want to get a good deal, don't like to overpay and don't like to waste money.
That allows us to spend our money elsewhere on things we really value, or to save more.



+1
Anonymous
Post 01/04/2024 13:23     Subject: Why is everyone here so rich
Anonymous wrote:
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


What? What are you on about?
Anonymous
Post 01/04/2024 13:15     Subject: Why is everyone here so rich
Anonymous wrote:
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.




If they were previously making $800K, they are chasing bargains.

Many people making $600-800K+ are still "frugal". We want to get a good deal, don't like to overpay and don't like to waste money.
That allows us to spend our money elsewhere on things we really value, or to save more.

Anonymous
Post 01/04/2024 12:20     Subject: Re:Why is everyone here so rich
I make 95k (woman) now at 41. My XH made way less than 300k when I started being a SAHM. I’m currently dating someone who will make maybe $55k this year in his 40s.