Comment on Do rich people only wear designer clothes? Like, every piece?

• Aneb@lemmy.world ⁨5⁩ ⁨days⁩ ago

  How did $50 mil become not so opulent? Thats fifty million dollars. I have 2k in savings, I’m thinking about busing instead of flying. Whatever level I’m picking for airlines is $400-500 nowadays one way.

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  • AskewLord@piefed.social ⁨5⁩ ⁨days⁩ ago

    Would you regard a 1950s run down shack of a house as opulent?

    Those cost 3 million dollars where my sister lives.

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    • Witchfire@lemmy.world ⁨5⁩ ⁨days⁩ ago

      My partner and I dream of affording a $1Mil house on a shared income, you really need to rethink what you consider (or don’t consider) wealthy

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• BenevolentOne@infosec.pub ⁨6⁩ ⁨days⁩ ago

  People who haven’t had the opportunity to see it don’t realize that wealth distribution is fractal, and the more money you have, the more obvious this is.

  I like to think of it in terms of stack of 300X (I could buy your year in a day’s interest) and work your way up.

  $1 $300 $90000 < if you’re reading this post, you are probably around here. $27000000 < This is the rich person in the post above, notably still in the middle. $8100000000 < Private jets, billionaires, there are a few thousand of these. $2.43E12 < Musks, Bezoses, etc.

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• Onomatopoeia@lemmy.cafe ⁨6⁩ ⁨days⁩ ago

  And the prices of those yachts doesn’t take into account the cost of ownership - slip fees, fuel, maintenance, etc.

  Owning it costs a lot more, which is true of so many things.

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• Professorozone@lemmy.world ⁨5⁩ ⁨days⁩ ago

  I never said I knew more about her life, but please keep putting words in my mouth.

  A $50M net worth should absolutely be bringing in $2M/year income which is plenty to charter flights and buy yachts. I never said it had to be chartered trans Atlantic or that it had to be a super yacht.

  But sure I guess your poor sister just can’t swing the money to fly first class with her measly little $50M. How embarrassing for her. You should clip some coupons for her to get by.

  I mean how much do you think you need? Seriously.

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  • AskewLord@piefed.social ⁨5⁩ ⁨days⁩ ago

    You know nothing about money. You sound like someone would sell their house to buy a Ferrari and wonder why they are broke a few years later.

    Asset value appreciation is not income. You seem to be under a total delusion she is making 2 million in cash a year. She isn’t. They make like 500K in income, and after taxes it’s like 300K. Doctors make more than her and her husband do. Do you think a doctor chartering flights?

    You are talking about people who have $500 million in assets.

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    • Professorozone@lemmy.world ⁨4⁩ ⁨days⁩ ago

      You have no idea what I know. Anyone with a $50M net worth and I’m assuming that’s what you are talking about, that can’t generate more than $500k a year, is a friggin moron. It’s not hard to believe since she’s related to you and there is no real requirement to be smart to be rich. You just have to lack a moral compass.

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      • AskewLord@piefed.social ⁨4⁩ ⁨days⁩ ago

        Right, so she’s an idiot for not investing in the slave trade or something now?

        I’m blocking you because you’re so incredibly wrong and demonistration an absurd amount of ignorance about how finances work.

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