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Post Reply Is it no longer a big deal to be a millionaire?
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24 / M
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Posted 8/9/15 , edited 8/9/15

biscuitnote wrote:



Well intelligence and work ethic you get out what you put into it. Employees are paid what they bring to the table in the market. Not everyone makes CEO wages and thats ok not everyone wants to work 100 hours a week and manage thousands of workers.


I'll agree that intelligence and work ethic is great to have. I won't continue on my thoughts on it as it is getting nowhere.

Anyhow, to your original post. I think it's still a big deal, but it's definitely not what it was maybe 40-50 years ago or so.
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17 / M / The Bay
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Posted 8/9/15
A million dollars is nothing anymore, especially in the Bay Area. 7 years ago the home I live in was going for $500k- $600k now it easily goes for a million or more.(along with most of the homes in the area) It's sad because my family doesn't live in the nicest neighborhood and our house isn't the largest but, you need a pretty hefty income to even consider buying a house. I would be happy if someone gave me $1,000,000 but you can't expect to live off it or even get you that far.
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Posted 8/9/15
Median American household income: $51,939
Median American household size: 2.54 people
Average US worker pays 31.3% of their income in taxes

Effective net income per median household: $35,682 ($14,048 per person)

If you managed to save 100% of that (ie: never buy anything, including food), it would take over 70 years to reach an individual net worth of over 1 million dollars.

So, is it a big deal?
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20 / M / Tokyo/Seoul Bound
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Posted 8/9/15
If its not a big deal give me the million then...
I'd definitely think its a big deal to be a millionare
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M
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Posted 8/9/15
Millionaires HAH

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21 / California
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Posted 8/10/15
A million dollars may not be much nowadays but I'll still take it.
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20 / Cold and High
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Posted 8/10/15 , edited 8/10/15
Toilet paper anyone?!
Don't worry its all GREEN...
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24 / M / USA
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Posted 8/10/15

Moxxmix wrote:

Median American household income: $51,939
Median American household size: 2.54 people
Average US worker pays 31.3% of their income in taxes

Effective net income per median household: $35,682 ($14,048 per person)

If you managed to save 100% of that (ie: never buy anything, including food), it would take over 70 years to reach an individual net worth of over 1 million dollars.

So, is it a big deal?


If you just put money in a savings account of course you are never going to get a million. You have to invest your money in a company 401k or personally in mutual funds. With an average interest rate of 6 or 7 percent you should have no problem retiring with a million.
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Posted 8/10/15

papagolfwhiskey wrote:

Sorry I don't buy that. And I doubt you can prove that since countries that corral their corporations have better living standards. I also don't buy and doubt you can convince me with the standard right wing arguments you used so far, that wage disparity is just. I refuse to accept that some suit in an office is worth 50 times as much as the people doing the work. The game is rigged it's not as simple as you portray.


two things
1. I'd like data on the statement "countries that corral their corporations have better living standards"
That isn't from a newspaper or internet tabloid.
2.The person put in charge of running the company is paid well because their decisions can have a bigger impact than a person in a "less important" position. For example, they can hire and fire employees. Quite a lot of people can do the job of managing things. Some people get a reputation for doing it a lot better, and have the negotiating skills to get a much higher salary for it. It's like being a football player. Anybody can play football. Not everybody can compete at the level a true professional can.
Posted 8/10/15
It's a very big deal to me. (As long as it's American dollars or Australian dollars though)

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24 / M / USA
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Posted 8/10/15

GayAsianBoy wrote:

It's a very big deal to me. (As long as it's American dollars or Australian dollars though)



What about zimbabwe dollars?
Posted 8/10/15

biscuitnote wrote:

What about zimbabwe dollars?


What can I buy with a 100 trillion ZWD?
The title of prince?
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Posted 8/10/15

GayAsianBoy wrote:


biscuitnote wrote:

What about zimbabwe dollars?


What can I buy with a 100 trillion ZWD?
The title of prince?


Haha no you can buy a loaf of bread however.
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Posted 8/10/15
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23 / M
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Posted 8/10/15 , edited 8/10/15

biscuitnote wrote:


GayAsianBoy wrote:


biscuitnote wrote:

What about zimbabwe dollars?


What can I buy with a 100 trillion ZWD?
The title of prince?


Haha no you can buy a loaf of bread however.


That is some cheap bread. a slightly old rate appears to be 35,000,000,000,000,000ZWD to a dollar or something like that.
which makes 100 trillion ZWD worth significantly less than a penny.
You might be able to buy.... half a bread crumb, maybe. If the other person thinks it's worth the hassle.
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