Comment on Why Video Games Cost So Much To Make - Jason Schreier
ampersandrew@lemmy.world 19 hours agoThere are for sure tiers of how rich you can be. But when you’re beyond the point of financial stress and can at any time stop working for the rest of your life and not worry about making ends meet, I think most of us would call that rich. If you’re pulling in a quarter million per year, even in an expensive city, the slightest bit of sense with your money allows you to accumulate wealth so quickly that I think you qualify.
HubertManne@piefed.social 18 hours ago
I don’t think you are right with this. I live in one of the most affordable major cities and if a family is not running on 6 figures then your likely in the red unless you somehow have a very cheap situation. Lets assume 2 bedrooms here btw which I don’t think most people would consider high on the hog space. Now its true that technically you have all the overage to squirrel away but most folks have a hard time living on the edge of being in the red frugally. Once you have money you would like to have that lifestyle of going out once a week (especially if your job is stressful) and being able to take that once a year vacation. So yeah you have an extra 150 but 50 of that goes to taxes and the other 100 can be eaten up fast by wanting to live in a free standing house and having newer things and such. You will be able to fund your retirement well and live well wihtout concern but you won’t be able to stop working for the rest of your life unless you again live like a pauper for a few years to save enough and then live off of that like a pauper or go move to the boonies and that does not even broach if you have some sort of medical issue while your not working for the rest of your life. Its comfortable not rich. I mean I would not even consider a second home and car rich but that is because I am old enough to have seen a time when that was achievable for middle class. I would say rich is you could stop working and afford full medical insurance in the us while having a house and vacation house and new stuff.
ampersandrew@lemmy.world 18 hours ago
The combined income of my wife and I comes in under one of the figures he gave, and with a 2 BR apartment in NYC, we are very, very comfortable, even after splurging the past few years on a far nicer location for an extra $1k/month in rent. The rest of what you describe is what I would call lifestyle inflation, and I’m not living the life of a pauper because I don’t own a car; if anything, that’s extraordinarily wasteful around here, and it’s something that less of half of this city even bothers to do.
HubertManne@piefed.social 17 hours ago
yeah with two incomes and no significant medical issues. believe me one income and a spouse who is sick would change your situation quick. And I get you live comfortably but can you stop working and live comfortably. Im just arguing he point of where one could be truly rich not just doing decently.
ampersandrew@lemmy.world 17 hours ago
But that’s what I mean by how quickly you can accumulate wealth at a quarter million per year. Of course something could go wrong early in your career, but the average case is far better than that. Could I stop working and live comfortably? For a while. We’d have a lot of runway, far better than a 6-month emergency fund. Given a bit more time and saving into index funds, that can become indefinite, and that’s on our far-lower salaries than Schreier lists.