Current Events > $2 million is not rich

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https://i.redd.it/jfw2621yeda71.jpg
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Its wealthy. But you def cant retire on that. The average home price here is now like 350k. Mine was half a mil. Need more

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I'm 35 and can live off of 2m for the rest of my life

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Fade2black001 posted...

I'm 35 and can live off of 2m for the rest of my life

Where do you? Spouse? Kids?, living situation? It really depends I guess

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I can't answer a question that doesn't begin with "Hey, ugly."

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I think 2 mill would last me most if not my entire life too

But I live in Kentucky, I could probably get by with half of that tbh

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jpenny2 posted...

I can't answer a question that doesn't begin with "Hey, ugly."

You hear someone behind you "Hey ugly fuck! I'll give you two million dollars if you breed these mommy milkers!"
Is two million enough?

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Turbam posted...

You hear someone behind you "Hey ugly fuck! I'll give you two million dollars if you breed these mommy milkers!"
Is two million enough?

Yes, it's enough.

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As one lump some you could burn through it pretty fast if you wanted to and it would only change your life for a few years.

But if you have enough income rolling in that you can afford a 2 million dollar apartment then yes youre rich.

2 million is rich.

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It's enough seed money to last you if you properly invest i think

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Veggeta_MAX posted...

2 million is rich.

yes, but its not wealthy ~ Chris Rock

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darkprince45 posted...

Where do you? Spouse? Kids?, living situation? It really depends I guess

No kids, no spouse

Living situation would be different as it is now for me. I would buy a house

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I could retire on 2 mill right now

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Yes and no. Its enough to frugally live off of and never work again, but not really enough to live a normal city lifestyle and never work again. But in relation to the conversation in the image, it is rich enough to make her a hypocrite.

depends heavily on a lot of factors. if youre smart you could live the rest of your life on that, especialy with investing, but you arnt going to be living the high life with sports cars and mansions especially if you also have a family to provide for. atleast not without other large sources of income.

unsurprisingly, people that get social media famous (i've got no idea who this girl is i'm just guessing) aren't generally known for their ascetic practices, even if they get famous off of hating on the wealthy...

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darkprince45 posted...

Its wealthy. But you def cant retire on that. The average home price here is now like 350k. Mine was half a mil. Need more

If you paid off a half-mil house, you could easily stretch the remaining 1.5 mil over 40 years.

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While $2 million is a lot of money, it is still middle class these days. The upper middle class, but still middle class.

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darkprince45 posted...

Its wealthy. But you def cant retire on that. The average home price here is now like 350k. Mine was half a mil. Need more

If you already owned a home and planned to live modestly, you absolutely could retire on 2mil

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It's richer than most people. It's like 95th percentile in the USA, 99th in the world.

You can just put it in the bank and let the interest be your monthly allowance.

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Why are we talking like thats not a lot of money when its probably several times each of our net worths?

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Fade2black001 posted...

I'm 35 and can live off of 2m for the rest of my life

This. Easy.

2 million is 50k a year after taxes for 40 years. Many people barely make 2 million in their entire working life. Many never make that much at all.

If you get it all in one lump sum and can't budget / invest it well enough to live off of you either live somewhere crazy expensive or you just suck with money.

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it's a good amount to have for retirement but i wouldn't call it rich per se. when people say rich i think they usually think of shopping sprees and supercars that are like $500k a piece or w/e.

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My threshold for "rich" is the point where one can sustain at least a modest existence off their money/investments alone.

If you're making even a very modest 2% annual return on $2M invested, you're pulling in $40,000 a year doing no work at all. That's rich.

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There was a lady that stopped at the hotel I work at last year. She was complaining about the stimulus checks, and how worthless they were. She said she knows what it's like to not have money, after her husband died she only got to keep 8 million dollars... If if it wasn't for my mask straps, I'm sure my jaw would've hit the floor.

She was 100% serious too. She thought 8 million wasn't a lot. That it was actually less than she needed to live comfortably. Then continued to insult people who make less than 100k a year as if they were useless.

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Of course it is. Without being lucky with investments, it's a value that you would be hard-pressed to earn on salary alone.

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https://www.cnbc.com/select/average-net-worth-of-americans-ages-65-to-74/

interest to see that the average net worth at retirement age in America is around $1.2 million

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Probably depends on where you live. If it's a big city like San Francisco or New York, it's probably not. Where I live, that's easy retirement money.

$2mil to last the rest of your life when youre 30? Not rich

$2mil in the bank but you keep working? a little rich

Having enough money to afford a$2mil apartment? Kinda rich
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darkprince45 posted...

Its wealthy. But you def cant retire on that. The average home price here is now like 350k. Mine was half a mil. Need more

I saw a video a few months ago that calculated the average persons expenses and took inflation into account and it basically said that if your salary is $50k then you would only need $1 million to retire

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If you can spend $2M on an apartment, you are very rich.

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ITT people who dont want to move to another country that would quadruple $2mil and have a nice beach bar.....ah well. I would like the solitude.
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modena posted...

ITT people who dont want to move to another country that would quadruple $2mil and have a nice beach bar.....ah well. I would like the solitude.

which country?

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KogaSteelfang posted...

There was a lady that stopped at the hotel I work at last year. She was complaining about the stimulus checks, and how worthless they were. She said she knows what it's like to not have money, after her husband died she only got to keep 8 million dollars... If if it wasn't for my mask straps, I'm sure my jaw would've hit the floor.

She was 100% serious too. She thought 8 million wasn't a lot. That it was actually less than she needed to live comfortably. Then continued to insult people who make less than 100k a year as if they were useless.

I met some weird people the summer I worked the front desk at a motel.

One dude with a Lamborghini who parked at the front doors and insisted on me parking his car. There wasn't valet service but he wasn't about to park his own car so somehow I ended up doing it... never been so nervous parking a car.

Another guy who was cfo of some company i never heard of who constantly abused guests and staff alike while yelling "do you know who i am?!?!?!" Literally no one on earth knew who he was or even heard of the company. He was practically a parody of the rich asshole stereotype.

But I dont think I ever met anyone who was quite that out of touch. They definitely knew the value of their money.

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pure_temper posted...

which country?

Easily in south Asia and South America. MSN just had an article about the places to retire abroad to make your retirement money to go the farthest.(they were not crime hotspots)
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It's not rich at all. You need like $10 Million to be rich these days

Unless you're in a foreign country then yeah it's really rich

CanuckCowboy posted...

I met some weird people the summer I worked the front desk at a motel.

One dude with a Lamborghini who parked at the front doors and insisted on me parking his car. There wasn't valet service but he wasn't about to park his own car so somehow I ended up doing it... never been so nervous parking a car.

Another guy who was cfo of some company i never heard of who constantly abused guests and staff alike while yelling "do you know who i am?!?!?!" Literally no one on earth knew who he was or even heard of the company. He was practically a parody of the rich asshole stereotype.

But I dont think I ever met anyone who was quite that out of touch. They definitely knew the value of their money.

I honestly never believed the stereotype of rich, entitled people like you see on tv. At least until I got this job, people can be ridiculous. My coworker had one of those "do you know who I am?" type guys a few weeks ago. She kicked him out. lol

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Idk there are some like that but i doubt its higher than the % of entitled poor people

I worked retail in an insanely wealthy town for a few years and folks were pretty chill for the most part
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g980 posted...

Idk there are some like that but i doubt its higher than the % of entitled poor people

I worked retail in an insanely wealthy town for a few years and folks were pretty chill for the most part

Entitled poor people...

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A 2 mil apartment what a fucking waste. Just buy a house at that point.

I could legit probably live off the interest.

Even with $2 million cash you still want to be working. With a $2 million home, you BETTER be working. So no, its not rich

I can turn a million to 5 million. I can retire with a million.

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2m is just barely rich but the ownership of a 2m apartment suggests having much more than 2m

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MedeaLysistrata posted...

Entitled poor people...

They exist too, I've encountered quite a few here as well. I'm guessing for the most part I encounter the richer more because the poorer ones would be less likely to be out travelling a dishing out for a hotel instead of driving straight through.

Mostly people thinking they can dictate how much they'll pay for a room because they're have a limited budget or fixed income. I'll give every discount I can, but more often then not they'll be very demanding about me matching their very unreasonable expectations.

I get it, I've been poor my whole life too, I'm only just now getting a decent saving built up, but that also means I've never really had the luxury of going on a trip, or staying overnight somewhere else. If I did plan a trip with limited resources, I'd look ahead instead of expecting every place I go to cater to my budget.

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