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this post was submitted on 16 Sep 2023
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chapotraphouse
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That's not enough money to be wealthy though
it is where i am, they are in the top 1% of earners
That's because where you live probably has a certain type of wealth breakdown, especially if it's small town America (making assumptions sorry)
But if the breakdown is like this, there's a thousand people in town. 999 make exactly the median American salary, 54k a year, and 1 guy owns a used car dealership and a liquor store. This guy makes a million a year.
So now you're 120k a year is great, you're doing well above average and you are in the top 1% of your area but it's more of a reflection of how unbalanced the wealth is. In many parts of the USA you are not buying land with this much.
I live in the most expensive city in my country, its more just the average wage is 20k and the average rent is 1k+ a month, in these circumstances making 120k a year (especially when housing is about avg 80-150k) puts you at a massive advantage; by my metrics they are wealthy as they make 5-6x my salary.
Okay okay it's wealthy I take it back
It’s really not though lol 120K on either of the coasts is enough to be comfortable and get by, but it’s nowhere enough to be living like a king.
I dont live in the USA
Its a hyper annoying conversation to have online because everyone apparently lives off 5 dollars a day somewhere in eastern europe. Or, online spaces skew young so you're talking to an american teenager who has never thought about stuff like childcare, you know?
I don't know what you're on about. I would live like a king on 120k.
Like a king? If you're in any of the decent cities in America you're paying rent.
I'm paying rent now, not in the U.S. but in a major metropolitan city that easily stands with the likes of New York and L.A., and I make a fraction of 120k. Less than half, less than a third. So, yes, I would live like a king. Americans pretending that that isn't a fuckton of money are delusional.
I mean if you're not American then it's a different amount of money, functionally. If I get injured and spend your salary on a doctor's visit Im not feeling very royal. You don't have to call people delusional, congratulations on not living in hell country I guess. Happy for you, my dude.
Uhhhh? I don't live in the U.S. but I still live in hell, it's hell nearly everywhere, most of my paycheck still goes to rent. 120k is still 120k, and whether it's dollars, euros, or pounds, it's still a ridiculous amount of money. Delusional is the only appropriate word for someone claiming that isn't wealthy, I genuinely cannot fathom the thought.
Part of the way some end up making that money is through college which can set you up with substantial debt. I know many people who get degrees also make significantly less than that and why I don't think anyone making 120k could really say they're "poor" but they could also be living paycheck to paycheck based on monthly rent, loans, and car/transportation in the wrong city
lol so many offended people trying to disagree with you here
even 100k in SF, LA, NYC is a truckload of money
Depends on where you live. And if you have a family
I’m America, most of that 120K goes towards taxes to the military industrial complex and to subsidize private corporations
Yes, meanwhile in other countries we pay no taxes. Americans are baffling.
At least some of your taxes go towards your healthcare or funding education
lol same I take home 27k (I live in the US). It's really funny to be how subjective "rich" is to people. To be clear I don't necessarily think that 100k is "rich", but very well to do. I will likely never make that much money in my lifetime. My dream even is to make like 60k.