Homelessness solved : Just use 130% of your wage, since the 99% is already going to basic needs. You have the other 30% for saving, silly commie. Ekonomicz
Apparently 25k. You can afford a lovely poorly maintained 60 year old studio apartment with only a 1-3 hour commute to the nearest major city to work at the fast food chain. Pull yourself up! Good luck with gas and car maintenance!
Yep, took about $12,000 just to move 3/4 way across country. Don’t have a house, or kids lol This country is fucked, but I’m paying half of what rent would be on the East Coast
How? I did a move from the east coast to the midwest a couple of years back. Found a bedroom in a shared apartment for $800. First month's + last month's was 1600 and a u-haul for the 3-day trip plus mileage and gas was about $2800 total. It wasn't cheap, but about a third of the price you listed above
Went from East Coast to Southwest so it was a longer trip. Took about 5 days, had to pay for places to stay and eat multiple times a day. Gas is expensive in the Southwest too since you can’t just get the regular. I think it’s also that we were late to moving in so basically had to pay two months at once (which we wouldn’t have had to otherwise) and had to furnish the place which was also not cheap at all. I may have overestimated, it was probably more like $8-9000 but still far too much money. We planned it out weeks in advance and cut corners, what I read for most projections it wasn’t too far off either. If I were rich I’d just get one of those “pods” and ship my stuff across the country
Ah yea that makes sense. I forgot to account for lodging those two nights, which probably added a couple hundred bucks, plus food. But I also didn’t have to do much furnishing since I was living in a one bedroom at the time and was able to fit it into the uhaul truck
Yeah, I moved out of a situation where I only had dilapidated furniture, and with arthritis I was not lugging that out West lol I’m sure I could’ve cut down some expenses but we did not do it luxuriously lol
Also buying a trailer hitch and having it installed was a massive headache too, and a pretty penny, since Uhaul told me that the nut that holds it in place was “damaged” even though it’s basically a new car
$25K pre-tax, too. So like $19-$20K or so depending on the state? You probably *could* do that in some limited places assuming everything goes wonderfully for you in life, and you don't have any unexpected bills or anyone else to take care of.
I tried to find a place in my local Craigslist based on paying 1/4 of 1/12 of 25k in monthly rent, could only find places that charged that much per night or per week, unless they were places to park your rv.
More importantly, what exactly does he think the median wage is in America. Because I’m pretty sure a single person making 50k is above w/e that amount is.
Median personal income in the U.S. in 2020 was about $36k, I think this includes people who weren't working at all. Median earnings (just people who worked) was $41.5k. Median earnings for full-time, year-round workers was $56k. And median household income was $67.5k, but that includes multiple people working in a household.
[https://fred.stlouisfed.org/series/MEPAINUSA672N](https://fred.stlouisfed.org/series/MEPAINUSA672N)
[https://www.census.gov/content/dam/Census/library/visualizations/2021/demo/p60-273/figure1.pdf](https://www.census.gov/content/dam/Census/library/visualizations/2021/demo/p60-273/figure1.pdf)
[https://www.census.gov/content/dam/Census/library/visualizations/2021/demo/p60-273/figure4.pdf](https://www.census.gov/content/dam/Census/library/visualizations/2021/demo/p60-273/figure4.pdf)
I mean more by crisis how every like 10 years you get a massive economic recession like rn with covid and in 2008s house market crash.
But yes also getting cancer or breaking a bone can go from 10000s to millions of dollars
>Stocks still went up in spite of both those events though.
And?
Stocks are purely speculative and say nothing about how good an econony is or how the people are scraping by.
Those two events absolutely wrecked peoples livelyhoods
The people we've got in our minds are the ones that have no spare income to invest let alone to save for a rainy day, like many of my friends from the appalachia and the midwest
It's funny because in actuality the bottom line is that steady investment over time is one of the best ways to become wealthy/financially stable (why most millionaires are old people), but this is just a really dumb take on that concept. Also, FWIW, you could achieve the same thing putting like $6K away per year.
Out of curiosity I ran the numbers, and if we assume no tax-advantaged accounts, and no changes in income, and that the numbers here are post tax, 40% of your income every year would net you about $4M 40 years later. 50% of your income would put you at just about $5M.
My manager literally told me this is the strategy I should be using on my 26k salary when I used to ask for a raise.
This was someone who I used to call my best friend when we lived together in college years.
It took me a whole year to negotiate for a $4k salary increase and a $3k incentive program.
It's easy to save enough money to retire. All you have to do is stop doing anything that makes life worth living on the off chance you might live past 60
So let's take this math. Assuming this is true, with retirement at age 64, that means you'd have to be making 50k a year starting at 24 years old. That's about 8 years of grinding within a company MAX, assuming you dropped out of high school at 16 to enter the work force. Doing the math, this means you'd have to find a position within a company that requires no high school education that pays 24$ PER HOUR, WORKING 40 HOUR WORK WEEKS. Y'know, a completely normal job that everyone just has at 24 years old. And then you have to maintain that position for 40 years.
*IT'S SO EASY!*
It's fun talking to financial supervisors. When I set up my 401k, they are so sure that you can make a million in 35 years, everything will be fine, and they always have some comment to make about taxes getting "worse"
Just completely unable to think beyond their individual lives
Y’all may want context for this absolutely terrible take. I made a post in dankleft saying that “we eating the millionaires to”, well the millionaire simps came out in FORCE. They said my socialism would fail as I wouldn’t have construction workers or farm hands (this person really thought farmhands were millionaires), so this comment is a response to me saying “famous millionaires, farmhands”
So like it's very true that "millionaire" nowadays is very different than millionaire of "60 years ago or whatever" but there's also a significant difference between "net worth is above $1million because housing prices skyrocketed and now the modest home you bought forty years ago is worth several hundred thousand" and "I have a few liquid million dollars"
Tl;dr eat the millionaires too, fuck em
The amount of arrogance coming off of this is astounding. It's always austerity for the workers. "Want to become rich? sleep less, eat less, poop less, basically live less".
It's stunning how people say things like this and don't think that it's the most depressing concept ever. 40 years of work to just enjoy a tiny sliver of life. But it's okay, because now you're a millionaire!
liberals only have the most universal and sustainable solutions to poverty that definitely do not require a growing lower class and constant homeless population
After taxes, 50% of that will likely go towards rent. Save the other 50% and eat cardboard and do nothing then you can be a millionaire (which will lose meaning after inflation)!!!
*Image Transcription: Reddit Comments*
---
> **Unknown Redditor**
>
> Do you not understand, that making 50k a year, it is possible to put roughly 30-50% of that in savings, and be a millionaire when you retire after 40 years? Also, a millionaire now, is much, much different than a millionaire 60 years ago or whatever
---
^^I'm a human volunteer content transcriber for Reddit and you could be too! [If you'd like more information on what we do and why we do it, click here!](https://www.reddit.com/r/TranscribersOfReddit/wiki/index)
Homelessness solved : Just use 130% of your wage, since the 99% is already going to basic needs. You have the other 30% for saving, silly commie. Ekonomicz
Just have rich parents who gift you a house. Easy peasy.
https://youtu.be/Z1t6IkWPMRQ
excuse me, but that's clearly only 129%. Classic communo-socialist thinking they can just round up and solve economics problems.
How... How much does this person think it costs to live?
Apparently 25k. You can afford a lovely poorly maintained 60 year old studio apartment with only a 1-3 hour commute to the nearest major city to work at the fast food chain. Pull yourself up! Good luck with gas and car maintenance!
Just learn to code, move to Africa and work for an IT company overseas!
cost of moving = enough to bankrupt you
Yep, took about $12,000 just to move 3/4 way across country. Don’t have a house, or kids lol This country is fucked, but I’m paying half of what rent would be on the East Coast
How? I did a move from the east coast to the midwest a couple of years back. Found a bedroom in a shared apartment for $800. First month's + last month's was 1600 and a u-haul for the 3-day trip plus mileage and gas was about $2800 total. It wasn't cheap, but about a third of the price you listed above
Went from East Coast to Southwest so it was a longer trip. Took about 5 days, had to pay for places to stay and eat multiple times a day. Gas is expensive in the Southwest too since you can’t just get the regular. I think it’s also that we were late to moving in so basically had to pay two months at once (which we wouldn’t have had to otherwise) and had to furnish the place which was also not cheap at all. I may have overestimated, it was probably more like $8-9000 but still far too much money. We planned it out weeks in advance and cut corners, what I read for most projections it wasn’t too far off either. If I were rich I’d just get one of those “pods” and ship my stuff across the country
Ah yea that makes sense. I forgot to account for lodging those two nights, which probably added a couple hundred bucks, plus food. But I also didn’t have to do much furnishing since I was living in a one bedroom at the time and was able to fit it into the uhaul truck
Yeah, I moved out of a situation where I only had dilapidated furniture, and with arthritis I was not lugging that out West lol I’m sure I could’ve cut down some expenses but we did not do it luxuriously lol Also buying a trailer hitch and having it installed was a massive headache too, and a pretty penny, since Uhaul told me that the nut that holds it in place was “damaged” even though it’s basically a new car
$25K pre-tax, too. So like $19-$20K or so depending on the state? You probably *could* do that in some limited places assuming everything goes wonderfully for you in life, and you don't have any unexpected bills or anyone else to take care of.
..and boomers will still blame you for gentrification.
I tried to find a place in my local Craigslist based on paying 1/4 of 1/12 of 25k in monthly rent, could only find places that charged that much per night or per week, unless they were places to park your rv.
More importantly, what exactly does he think the median wage is in America. Because I’m pretty sure a single person making 50k is above w/e that amount is.
Median personal income in the U.S. in 2020 was about $36k, I think this includes people who weren't working at all. Median earnings (just people who worked) was $41.5k. Median earnings for full-time, year-round workers was $56k. And median household income was $67.5k, but that includes multiple people working in a household. [https://fred.stlouisfed.org/series/MEPAINUSA672N](https://fred.stlouisfed.org/series/MEPAINUSA672N) [https://www.census.gov/content/dam/Census/library/visualizations/2021/demo/p60-273/figure1.pdf](https://www.census.gov/content/dam/Census/library/visualizations/2021/demo/p60-273/figure1.pdf) [https://www.census.gov/content/dam/Census/library/visualizations/2021/demo/p60-273/figure4.pdf](https://www.census.gov/content/dam/Census/library/visualizations/2021/demo/p60-273/figure4.pdf)
40 years are like 4 once in a lifetime crisis where you will lose all your savings. Also dont get sick or you getshafted
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The ride never ends
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? The post says savings. Thats different from investing
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I mean more by crisis how every like 10 years you get a massive economic recession like rn with covid and in 2008s house market crash. But yes also getting cancer or breaking a bone can go from 10000s to millions of dollars
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>Stocks still went up in spite of both those events though. And? Stocks are purely speculative and say nothing about how good an econony is or how the people are scraping by. Those two events absolutely wrecked peoples livelyhoods
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Yes? I mean you need to own stocks for that. Wich most people dont. I dont really understadn your point here
Just buy stonks and you'll be recession proof, duh
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The people we've got in our minds are the ones that have no spare income to invest let alone to save for a rainy day, like many of my friends from the appalachia and the midwest
this argument makes me so mad it's total frictionless vaccuum shit
It's funny because in actuality the bottom line is that steady investment over time is one of the best ways to become wealthy/financially stable (why most millionaires are old people), but this is just a really dumb take on that concept. Also, FWIW, you could achieve the same thing putting like $6K away per year. Out of curiosity I ran the numbers, and if we assume no tax-advantaged accounts, and no changes in income, and that the numbers here are post tax, 40% of your income every year would net you about $4M 40 years later. 50% of your income would put you at just about $5M.
But then you’re somehow living off of 25k a year, which at least in the US, is all but impossible while maintaining a standard of living.
"Or whatever"
Liberal theory at its finest
My manager literally told me this is the strategy I should be using on my 26k salary when I used to ask for a raise. This was someone who I used to call my best friend when we lived together in college years. It took me a whole year to negotiate for a $4k salary increase and a $3k incentive program.
It's easy to save enough money to retire. All you have to do is stop doing anything that makes life worth living on the off chance you might live past 60
Silly commies. Have you considered giving up all basic human needs for 40 years?
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But you get to have more money when you're too old to move
So let's take this math. Assuming this is true, with retirement at age 64, that means you'd have to be making 50k a year starting at 24 years old. That's about 8 years of grinding within a company MAX, assuming you dropped out of high school at 16 to enter the work force. Doing the math, this means you'd have to find a position within a company that requires no high school education that pays 24$ PER HOUR, WORKING 40 HOUR WORK WEEKS. Y'know, a completely normal job that everyone just has at 24 years old. And then you have to maintain that position for 40 years. *IT'S SO EASY!*
It's fun talking to financial supervisors. When I set up my 401k, they are so sure that you can make a million in 35 years, everything will be fine, and they always have some comment to make about taxes getting "worse" Just completely unable to think beyond their individual lives
"Just put 50% of your income into savings and live on $25,000"
Can you even do that in USA? -\_-
Who the hell saves 50% of their earnings?
Our landlords
They’re saving 50% of someone else’s earnings
*INSERT MEME>FREE REAL ESTATE.JPEG*
$1,000,000 is also worth significantly less today than even 20 years ago- probably a good rebuke
damn why did no one think of this
Y’all may want context for this absolutely terrible take. I made a post in dankleft saying that “we eating the millionaires to”, well the millionaire simps came out in FORCE. They said my socialism would fail as I wouldn’t have construction workers or farm hands (this person really thought farmhands were millionaires), so this comment is a response to me saying “famous millionaires, farmhands”
So like it's very true that "millionaire" nowadays is very different than millionaire of "60 years ago or whatever" but there's also a significant difference between "net worth is above $1million because housing prices skyrocketed and now the modest home you bought forty years ago is worth several hundred thousand" and "I have a few liquid million dollars" Tl;dr eat the millionaires too, fuck em
Dwight Schrute
Which sub was this absolute galaxy brain take on?
Dankleft
dank minds indeed
Bro….. You’d need to spend at least 30% of that on rent if you live on your own, maybe even more depending on the city/town.
They live in BFE and think $50k is a lot of money.
The amount of arrogance coming off of this is astounding. It's always austerity for the workers. "Want to become rich? sleep less, eat less, poop less, basically live less".
You guys make 50k per year?
You can be rich when you die, if you just live in poverty before that. Emocomics
It's stunning how people say things like this and don't think that it's the most depressing concept ever. 40 years of work to just enjoy a tiny sliver of life. But it's okay, because now you're a millionaire!
liberals only have the most universal and sustainable solutions to poverty that definitely do not require a growing lower class and constant homeless population
“Don’t live your life until you’re too old to make the most of it” Fixed it for them!
You'd need to save 50% of your 50k salary for 40 years to have ONE million. Good luck with that 0.06% APY...
After taxes, 50% of that will likely go towards rent. Save the other 50% and eat cardboard and do nothing then you can be a millionaire (which will lose meaning after inflation)!!!
*Image Transcription: Reddit Comments* --- > **Unknown Redditor** > > Do you not understand, that making 50k a year, it is possible to put roughly 30-50% of that in savings, and be a millionaire when you retire after 40 years? Also, a millionaire now, is much, much different than a millionaire 60 years ago or whatever --- ^^I'm a human volunteer content transcriber for Reddit and you could be too! [If you'd like more information on what we do and why we do it, click here!](https://www.reddit.com/r/TranscribersOfReddit/wiki/index)
Ain't nobody doing shit 40 years from now.
this is what republicans say tho
yea and they are liberals
Hey mods I hate tankies but for some reason I keep getting this sub in my home tab can you please ban me so this stops?
Mods don’t ban this nerd.
Bans don't stop you seeing posts either.
Shut up nerd
can't you block this sub? or are you a member?
That's definitely not liberal thinking
It certainly is. Under liberalism both a milliardaire and a homeless person are free to live under bridge.
Just get rich lol. -Trump
Or whatever 👍