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Topic	AARP response to 'OK Boomer': 'OK millennials. We have all the money'
Blaqthourne 11/15/19 12:30:12 AM #45:	Krow_Incarnate posted... "Fixed income" doesn't necessarily mean broke though. It literally just means it's not going up. I've had a dude with a networth of over $200k tell me he's on a "fixed income". A net worth of $200k+ (and since you said $200k, that implies it's not $300k, and most likely not $250k) is not that much in the US. If he owns a house, that likely means he has under $100k of liquid assets. Even if that $100k is getting a 10% return, it's only producing $10k income every year. I believe that's under the poverty level. So, while he's not broke right now, there's a pretty good chance he will be relatively soon if he doesn't get some new source of income. He could very well be living entirely off of social security. --- Montreal Expos (1969-2004) http://www.backloggery.com/Blaqthourne Now playing: Fire Emblem (GBA) -- started 9/25/2019 <cite>Blaqthourne posted [p:930158808] in AARP respo... [t:78159326]...</cite> <quote>Krow_Incarnate posted...</cite> <quote>"Fixed income" doesn't necessarily mean broke though. It literally just means it's not going up. I've had a dude with a networth of over $200k tell me he's on a "fixed income".</quote> A net worth of $200k+ (and since you said $200k, that implies it's not $300k, and most likely not $250k) is not that much in the US. If he owns a house, that likely means he has under $100k of liquid assets. Even if that $100k is getting a 10% return, it's only producing $10k income every year. I believe that's under the poverty level. So, while he's not broke right now, there's a pretty good chance he will be relatively soon if he doesn't get some new source of income. He could very well be living entirely off of social security. --- Montreal Expos (1969-2004) http://www.backloggery.com/Blaqthourne Now playing: Fire Emblem (GBA) -- started 9/25/2019</quote> ... Copied to Clipboard!
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