Define rich

[PKT_VOL]

Do Geishas count as dependents?

Ha. Why not list it as a "business expense" for your tax deduction?

 

[DinkinFlicka]

Ha. Why not list it as a "business expense" for your tax deduction?

I don't lease them out. What kind of man do you think I am? They just sit around my place, smoke opium, and look pretty.

 

[T-TownVol]

Do Geishas count as dependents?

Should be covered by Obamacare IMO.

 

[rjd970]

You could apply a statistical value to "rich". 1, 2, or 3 standard deviation off the mean? It would also give you a value of "poor".

 

[PKT_VOL]

I don't lease them out. What kind of man do you think I am? They just sit around my place, smoke opium, and look pretty.

I was thinking more of stress relief therapy which essential for any hardworking man such as yourself. I will say, opium can get expensive, but then again, your making it rain

 

[DinkinFlicka]

I was thinking more of stress relief therapy which essential for any hardworking man such as yourself. I will say, opium can get expensive, but then again, your making it rain

Look at me and my five figures, BIATCH!

 

[volinbham]

You could apply a statistical value to "rich". 1, 2, or 3 standard deviation off the mean? It would also give you a value of "poor".

Wonder what that is given that 2% of households make $250K or more. That's 3 SDs off the mean of a normal distribution. (though income probably isn't a normal distribution)

Is that rich?

 

[rjd970]

Wonder what that is given that 2% of households make $250K or more. That's 3 SDs off the mean of a normal distribution. (though income probably isn't a normal distribution)

Is that rich?

If one says 3 sigma off the mean is rich, then yes, $250,000K or more is rich. When talking income, it is obviously more complicated than that.

I think it would be more interesting to to see what that 2 or 3 sigma value is for net worth as opposed to income. 2 sigma is 95% for a normal, I bet that is a pretty big number for net worth.

 

[NEO]

rich is relevant.

but 250K is not rich.

 

[rjd970]

What would be middle class income range? 40-60th percentile? 30-70th?

I honestly don't know. I dont think you can define it, but somebody, somewhere, has assigned a value to "poor", "rich", and "middle".

 

[GoBigOrangeUT]

rich is relevant.

but 250K is not rich.

250k a year? It's gotta be damn close...

 

[KiffinKiller]

250k a year? It's gotta be damn close...

he's in denial. that's a lot of money no matter how you spend it.

 

[NEO]

this is how i was raised...

family income (either one parent or two working parents didnt change the number)

less than 25k poor

25k-40k below middle

40-70k middle

70-10ok upper

100-250k upper upper

250k-500k comfortable

500k-1M not quite rich but getting there

1M-5M bottom of the rich people

5M-50M rich

50M or more stinky rich.

 

[GoBigOrangeUT]

he's in denial. that's a lot of money no matter how you spend it.

At that amount, you can buy just about anything you could ever want. I would indeed call that rich...

 

[GoBigOrangeUT]

this is how i was raised...

family income (either one parent or two working parents didnt change the number)

less than 25k poor

25k-40k below middle

40-70k middle

70-10ok upper

100-250k upper upper

250k-500k comfortable

500k-1M not quite rich but getting there

1M-5M bottom of the rich people

5M-50M rich

50M or more stinky rich.

So you go from upper upper to comfortable? That makes no sense. Like at all.

 

[NEO]

250k a year? It's gotta be damn close...

250K is a 800k home, two average priced luxury vehicles Bmw 5 series etc, kids in private school, bwith some money left over to place in retirement...that is not rich

you lose your job at that income and you are bankrupt in a year.

rich means you can float for a very very very long time on your net income.

 

[GoBigOrangeUT]

250K is a 800k home, two average priced luxury vehicles Bmw 5 series etc, kids in private school, bwith some money left over to place in retirement...that is not rich

you lose your job at that income and you are bankrupt in a year.

rich means you can float for a very very very long time on your net income.

What happened to living within your means? That's the problem with our country. They buy homes they can't afford just for the social status.

 

[NEO]

So you go from upper upper to comfortable? That makes no sense. Like at all.

Ok, follow my logic.

my dad makes 120k...he's upper

he is not very comfortable though.

after his mortgage, his cars, his living cost he has roughly 5 grand to put into saving because he nets about 75k a year.

thats not comfortable.


comfortable is being able to place at least 20% of your net income into saving etc and not having it imnpacet your lifestyle.

 

[NEO]

What happened to living within your means? That's the problem with our country. They buy homes they can't afford just for the social status.

thats 3 times your salary which is conservative for a bank.

i see your point though.

my home is only 1 times my salary but i'm a cheap ass mo fo.

 

[GoBigOrangeUT]

Ok, follow my logic.

my dad makes 120k...he's upper

he is not very comfortable though.

after his mortgage, his cars, his living cost he has roughly 5 grand to put into saving because he nets about 75k a year.

thats not comfortable.


comfortable is being able to place at least 20% of your net income into saving etc and not having it imnpacet your lifestyle.

I respectfully disagree.

 

[NEO]

by the way i dont drive a bmw 5 series nor is that my home price i was just using them as examples.

but we do disagree and thats ok.

:hi:

 

[GoBigOrangeUT]

thats 3 times your salary which is conservative for a bank.

i see your point though.

my home is only 1 times my salary but i'm a cheap ass mo fo.

Say I made 250k/yr...I would have a house that costs 250-300k. I wouldn't have a 75k dollar car because that is just dumb. If I had kids, depending on where I lived, school wouldn't have to be private.

 

[volinbham]

What happened to living within your means? That's the problem with our country. They buy homes they can't afford just for the social status.

They? Who the rich? They are the only ones not living within their means?

 

[GoBigOrangeUT]

They? Who the rich? They are the only ones not living within their means?

Wrong word. No, not just the rich, though it goes without saying that the more you make, the more you can afford. I am, by definition, poor, but I have everything I need and really, want.

 

[NEO]

Say I made 250k/yr...I would have a house that costs 250-300k. I wouldn't have a 75k dollar car because that is just dumb. If I had kids, depending on where I lived, school wouldn't have to be private.

Depending on the down payement I would agree. If you were able to put down 20% and your actual mortgage was 300K I would agree. That is living in your means.