2044
buying coffee
(media.kbin.run)
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 20 Feb 2024
2044 points (99.4% liked)
Lemmy Shitpost
26132 readers
3490 users here now
Welcome to Lemmy Shitpost. Here you can shitpost to your hearts content.
Anything and everything goes. Memes, Jokes, Vents and Banter. Though we still have to comply with lemmy.world instance rules. So behave!
Rules:
1. Be Respectful
Refrain from using harmful language pertaining to a protected characteristic: e.g. race, gender, sexuality, disability or religion.
Refrain from being argumentative when responding or commenting to posts/replies. Personal attacks are not welcome here.
...
2. No Illegal Content
Content that violates the law. Any post/comment found to be in breach of common law will be removed and given to the authorities if required.
That means:
-No promoting violence/threats against any individuals
-No CSA content or Revenge Porn
-No sharing private/personal information (Doxxing)
...
3. No Spam
Posting the same post, no matter the intent is against the rules.
-If you have posted content, please refrain from re-posting said content within this community.
-Do not spam posts with intent to harass, annoy, bully, advertise, scam or harm this community.
-No posting Scams/Advertisements/Phishing Links/IP Grabbers
-No Bots, Bots will be banned from the community.
...
4. No Porn/Explicit
Content
-Do not post explicit content. Lemmy.World is not the instance for NSFW content.
-Do not post Gore or Shock Content.
...
5. No Enciting Harassment,
Brigading, Doxxing or Witch Hunts
-Do not Brigade other Communities
-No calls to action against other communities/users within Lemmy or outside of Lemmy.
-No Witch Hunts against users/communities.
-No content that harasses members within or outside of the community.
...
6. NSFW should be behind NSFW tags.
-Content that is NSFW should be behind NSFW tags.
-Content that might be distressing should be kept behind NSFW tags.
...
If you see content that is a breach of the rules, please flag and report the comment and a moderator will take action where they can.
Also check out:
Partnered Communities:
1.Memes
10.LinuxMemes (Linux themed memes)
Reach out to
All communities included on the sidebar are to be made in compliance with the instance rules. Striker
founded 1 year ago
MODERATORS
Being a millionaire is just saving a portion of income for 30 years and you can easily hit a net worth of a few million dollars.
Being a billionaire requires some level of absurdly lucky success, fraud, exploitation, and rich parents.
That's setting aside $33,333/yr
That's not easy for most people
Have you tried to have your parents buy you a house when you were 18 ? Many people forget to do this simple step. /s
Funny enough I actually did get parental help to buy a house a couple years back. Just a bit extra on our down payment to ensure we got this house rather than 3 more months of hunting for a good deal, but help is help
And even with an expensive Californian house added to my net worth I'm not even halfway to a millionaire and wouldn't be able to save money to get there like was suggested. A million dollars is a fuck load
Haaa, but you missed out on the most important point, you need your parent to get you a house as soon as you stop living in theirs, that way you never pay rent, by the time you are 30 you would have saved 12 YEARS of rent, so probably enough to invest, create a business, buy houses to rent to other people (or whatever else rich people do to steal money from the workers).
Silly me, they only bought me a mansion. Guess I missed the boat if I'm past 18 now huh?
yes, too late, I'm sorry I should have mansioned it.
I mean, that would be considering there is no interest at all. Yes if you would put it under a mattress, sure. If you would put it in s&p for instance, even on the low end you'd be getting about 6%. At that interest compounded monthly, you'd be able to be a millionaire at about $1000 a month, or $12000 a year. Still a buttload, but not unfeasible for dual earners without children, depending on where you're located and in what industry of course.
If it takes two people bringing money together to have a million, they are not millionnaires unless they can find another million.
Check the couch.
73 cents, 7 lighters, and a ton of cat toys. That like halfway there, right?
If you were saving it. Actually you would be investing it so no need to actually save up 1 million. 30 years is on the optimistic side though. The more common problem seem to be low wages, as those leave nothing to be safed (for 30+ years) at the end of the month.
It is between retirement savings and a. Net worth includes a home, that crazy expensive half million dollar house is going to seem cheap 30 years from now and is likely going to be a million dollars on it's own.
Those are the numbers of you're not investing your savings. You can use an investment calculator to see what it is if you're investing it, with an assumption of average returns. Non trivial to get a million dollars in 30 years, but way less than $33k.
Bring able to save a significant portion of your income more than the US poverty line for 30 years without some black swan life event happening to drain it also partly depends on being lucky or/and not having children. The median US household makes plenty to become millionaires for maintainkng a reasonable QoL if there aren't any such black swan events or children involved.
For my mom, it was a custody battle for children that initially wiped her life savings. She since has often worked 100 hours weeks at a job that pays above average for a blue collar job to make enough to back up to retire (plus happens to have worked at the same company long enough to get a pension, something they phased out for anyone less senior than her), but that's not something anyone should be expected to do be able to retire, so I'm not quick to judge people for not having accumulated money.
But a lot of people waste money on convenience in ways that definitely add up cumulatively over the decades. $5/day adds up to $150k after adjusting for inflation over 30 years. A $10/month subscription is $10k over 30 years. Reducing costs like that in a few places can cumulatively get you to at least theoretically being on track to be a millionaire.
The QoL aspect is extremely important though. If I can't have one $10/mo subscription... what's the point of being a millionaire in some hypothetical future if I spend my prime years depraved and depressed?
That's been a point of discussion in financial independence circles. You can rearrange your whole life so you're saving 60% of your income, and some people have. Are they happy? Often not, and some of them have backed off when they realized they shouldn't give up so much happiness now for the prospect of being happy later.
Sure, but at the median income in the US, you don't need to be depraved or depressed. At least not for monetary reasons. I'm not saying you need have to cut all subscriptions. A lot of people have much more than one reoccurring charges or spending habits that could either be reduced or cut completely with little to no effect on QoL.