The most prestigious law school admissions discussion board in the world.
|
 |
 
|
Top 1% in America is $380k income and $8-10mm net worth
Poast new message in this thread
Date: May 26th, 2016 11:51 AM Author: flatulent ungodly school cafeteria http://www.financialsamurai.com/top-one-percent-net-worth-amounts-by-age/
Seems surprising to me that 1 out of 100 people I pass on the highway is rocking almost double digit million net worth. |
 |
Date: May 26th, 2016 11:56 AM Author: Vigorous Pontificating Stag Film Hairy Legs Invent your own dumbshit rules of thumb and you can be a personal finance blogger too. (http://www.autoadmit.com/thread.php?thread_id=3234878&forum_id=2#30562757) |
|
Date: May 26th, 2016 1:22 PM Author: aromatic turdskin how's Tuscaloosa? (http://www.autoadmit.com/thread.php?thread_id=3234878&forum_id=2#30563428) |
Date: May 26th, 2016 11:52 AM Author: Glittery corn cake internal respiration net worth sounds too high. (http://www.autoadmit.com/thread.php?thread_id=3234878&forum_id=2#30562720) |
|
Date: May 26th, 2016 7:55 PM Author: sick violent police squad It is. It's probably about half that. (http://www.autoadmit.com/thread.php?thread_id=3234878&forum_id=2#30566261) |
|
Date: May 26th, 2016 11:52 AM Author: boyish ruby new version there are so many prole rich people out there that you would never expect. they made their money by owning things like payday loan stores and trailer parks (http://www.autoadmit.com/thread.php?thread_id=3234878&forum_id=2#30562724) |
|
Date: May 26th, 2016 12:00 PM Author: Well-lubricated puppy cr (http://www.autoadmit.com/thread.php?thread_id=3234878&forum_id=2#30562781) |
|
Date: May 26th, 2016 12:16 PM Author: Salmon Electric Candlestick Maker (http://www.autoadmit.com/thread.php?thread_id=3234878&forum_id=2#30562927) |
|
Date: May 26th, 2016 12:20 PM Author: Excitant Amber Sandwich Ceo I represented a guy who owned a payday loan store. He bought a giant parcel of land with the idea of developing it and did no due diligence. Naturally his $800 closing attorney didn't pick up on the fact that the land was sterilized and the development rights had been transferred. Funny shit.
Dude had an entire wall in his house covered in flat screens. |
|
Date: May 26th, 2016 12:22 PM Author: boyish ruby new version what happened to the closing atty? (http://www.autoadmit.com/thread.php?thread_id=3234878&forum_id=2#30562979) |
|
Date: May 26th, 2016 12:35 PM Author: racy chestnut codepig non-trannie here. explain what you mean by "terilized and the development rights had been transferred" (http://www.autoadmit.com/thread.php?thread_id=3234878&forum_id=2#30563085) |
|
Date: June 2nd, 2016 12:22 PM Author: Free-loading Windowlicker Dilemma couldn't grow anything and couldn't build anything, so literally worthless to the scumbag (http://www.autoadmit.com/thread.php?thread_id=3234878&forum_id=2#30607891) |
|
Date: May 26th, 2016 7:29 PM Author: Irradiated space sweet tailpipe (http://www.autoadmit.com/thread.php?thread_id=3234878&forum_id=2#30566060) |
|
Date: May 26th, 2016 11:58 AM Author: sienna fighting meetinghouse laser beams These numbers sound like bullshit. (http://www.autoadmit.com/thread.php?thread_id=3234878&forum_id=2#30562767) |
|
Date: May 26th, 2016 12:02 PM Author: autistic blood rage (Jealous lawyer with over $100k in student loans, MAF that despite "doing everything right," he has a negative networth ) (http://www.autoadmit.com/thread.php?thread_id=3234878&forum_id=2#30562800) |
|
Date: May 26th, 2016 12:11 PM Author: sienna fighting meetinghouse laser beams No, there is no way that 1/100 people has $8m saved. I believe the top 1% income number. (http://www.autoadmit.com/thread.php?thread_id=3234878&forum_id=2#30562880) |
|
Date: May 26th, 2016 12:13 PM Author: autistic blood rage Why You so jelly, bro? Sucks u got duped into thinking getting high grades would lead you to a life of success. The real $$$ is in business. Either you can sell shit and make $$$ or can't. (http://www.autoadmit.com/thread.php?thread_id=3234878&forum_id=2#30562894) |
|
Date: June 2nd, 2016 12:17 PM Author: Contagious painfully honest trailer park (http://www.autoadmit.com/thread.php?thread_id=3234878&forum_id=2#30607868) |
|
Date: May 26th, 2016 12:02 PM Author: Magenta crackhouse patrolman lol so basically these figures are just made up shit based on what the author feels like? lol ok faggots (http://www.autoadmit.com/thread.php?thread_id=3234878&forum_id=2#30562802) |
|
Date: May 26th, 2016 12:05 PM Author: Aphrodisiac Psychic (http://www.autoadmit.com/thread.php?thread_id=3234878&forum_id=2#30562830) |
|
Date: May 26th, 2016 12:14 PM Author: Copper talking locus lol, you know it's bad when TT is gaping you (http://www.autoadmit.com/thread.php?thread_id=3234878&forum_id=2#30562904) |
|
Date: May 26th, 2016 12:03 PM Author: Doobsian Milk Chad So the article assumes people make 1% income ($380,000) from 25 years old until they're 80? lol
Which aspie wrote this? |
|
Date: May 26th, 2016 12:05 PM Author: autistic blood rage (http://www.autoadmit.com/thread.php?thread_id=3234878&forum_id=2#30562827) |
|
Date: May 26th, 2016 1:24 PM Author: Vigorous Pontificating Stag Film Hairy Legs Guys in my high school were given lifetime biglaw service partner contracts right out of law school all the time. It was no big deal. (http://www.autoadmit.com/thread.php?thread_id=3234878&forum_id=2#30563439) |
|
Date: June 2nd, 2016 12:17 PM Author: Bronze range newt TYFT (http://www.autoadmit.com/thread.php?thread_id=3234878&forum_id=2#30607870) |
|
Date: May 26th, 2016 12:09 PM Author: Doobsian Milk Chad This website seems geared towards 110 IQ people who JUST BARELY resisted the urge of instant gratification (unlike their 90-109 IQ brothers and sisters who spent all their disposable income on frivolities) and opted to squirrel away some of their earnings, thereby making them SMART and FINANCIAL SAMURAIS! (http://www.autoadmit.com/thread.php?thread_id=3234878&forum_id=2#30562863) |
|
Date: May 26th, 2016 12:09 PM Author: Stirring apoplectic old irish cottage Lol at u proles (http://www.autoadmit.com/thread.php?thread_id=3234878&forum_id=2#30562866) |
|
Date: May 26th, 2016 12:11 PM Author: Trip shrine degenerate Even if we accept these numbers, which I don't, your conclusion that 1 out of every 100 people "you pass on the highway" are in this 1% is also false. These people cluster in a few very specific places. In the Hamptons during the summer, in Aspen over Christmas, in wealthy parts of major cities it will be much more than 1 in 100. In most of the country these people are unicorns. (http://www.autoadmit.com/thread.php?thread_id=3234878&forum_id=2#30562874) |
|
Date: May 26th, 2016 12:12 PM Author: Doobsian Milk Chad Dude, it's 50/50. You either pass them or you don't. (http://www.autoadmit.com/thread.php?thread_id=3234878&forum_id=2#30562886) |
|
Date: May 26th, 2016 12:14 PM Author: Trip shrine degenerate (http://www.autoadmit.com/thread.php?thread_id=3234878&forum_id=2#30562908) |
|
Date: May 26th, 2016 12:41 PM Author: bisexual medicated doctorate plaza (http://www.autoadmit.com/thread.php?thread_id=3234878&forum_id=2#30563129) |
|
Date: May 26th, 2016 7:28 PM Author: Ultramarine big hell boltzmann (http://www.autoadmit.com/thread.php?thread_id=3234878&forum_id=2#30566056) |
|
Date: June 2nd, 2016 11:12 AM Author: startling diverse filthpig piazza (http://www.autoadmit.com/thread.php?thread_id=3234878&forum_id=2#30607475) |
|
Date: May 26th, 2016 12:36 PM Author: buff area mexican Rich people probably drive faster than you do though, in their Ferraris and what not. (http://www.autoadmit.com/thread.php?thread_id=3234878&forum_id=2#30563090) |
|
Date: May 26th, 2016 7:02 PM Author: Trip shrine degenerate This is why I must get Tesla! (http://www.autoadmit.com/thread.php?thread_id=3234878&forum_id=2#30565854) |
|
Date: May 26th, 2016 1:35 PM Author: Vigorous Pontificating Stag Film Hairy Legs Today's worst critique?
It's still early, but we have a good candidate. |
|
Date: May 26th, 2016 7:03 PM Author: Trip shrine degenerate Explain. (http://www.autoadmit.com/thread.php?thread_id=3234878&forum_id=2#30565858) |
|
Date: May 26th, 2016 12:16 PM Author: Comical insane giraffe locale The income threshold is accurate (it's from the IRS data) but net worth percentiles are very difficult to pin down. (http://www.autoadmit.com/thread.php?thread_id=3234878&forum_id=2#30562931) |
|
Date: May 27th, 2016 11:22 AM Author: sienna fighting meetinghouse laser beams Maybe overall, but I guarantee that the 99th percentile income for someone at 25 is way lower than that and the 99th percentile for someone at 55 is way higher. (http://www.autoadmit.com/thread.php?thread_id=3234878&forum_id=2#30569940) |
|
Date: May 26th, 2016 11:14 PM Author: Exciting Mauve Twinkling Uncleanness Goyim (xo 201 (http://www.autoadmit.com/thread.php?thread_id=3234878&forum_id=2#30567867) |
|
Date: May 27th, 2016 12:01 AM Author: sadistic soggy kitty i've seen similar figures--net worth 1% cutoff around $8mm. maybe they are "household" figures though.
It is surprising when you think that if you are at an airport or in a big city, the top 1% cutoff would probably be much much higher.
i guess there is just a lot of wealth sloshing around. |
|
Date: June 2nd, 2016 11:01 AM Author: ivory organic girlfriend generalized bond (http://www.autoadmit.com/thread.php?thread_id=3234878&forum_id=2#30607430) |
|
Date: June 2nd, 2016 11:01 AM Author: ivory organic girlfriend generalized bond Money is easy if you arent a pussy (http://www.autoadmit.com/thread.php?thread_id=3234878&forum_id=2#30607432) |
|
Date: June 2nd, 2016 11:13 AM Author: startling diverse filthpig piazza (safra jew) (http://www.autoadmit.com/thread.php?thread_id=3234878&forum_id=2#30607479) |
|
Date: June 2nd, 2016 11:07 AM Author: flatulent ungodly school cafeteria The top 1% being only ~172 LSAT (most here can get this with decent study time) yet $8mm net worth seems pretty crazy and unattainable for most xoxo poasters. (http://www.autoadmit.com/thread.php?thread_id=3234878&forum_id=2#30607450) |
|
Date: June 2nd, 2016 11:15 AM Author: cracking light hominid That's 'cause a large part of that net worth is inherited wealth (http://www.autoadmit.com/thread.php?thread_id=3234878&forum_id=2#30607493) |
|
Date: June 2nd, 2016 12:25 PM Author: Free-loading Windowlicker Dilemma the majority of millionaires are self-made LOL at you thinking 1/200 people in the US inherits nearly eight figures of wealth |
|
Date: June 2nd, 2016 12:52 PM Author: Trip shrine degenerate Your statement doesn't refute her statement. And it may be a majority but that doesn't make it reasonably accessible. (http://www.autoadmit.com/thread.php?thread_id=3234878&forum_id=2#30608096) |
|
Date: June 2nd, 2016 12:54 PM Author: Laughsome impressive multi-billionaire i'm sure self-made is a rigged definition jimmy is worth 500k at age 50 when his inheritance comes in at 700k and makes him a millionaire a self made millionaire, though, since he didn't inherit over a million jimmy is worth 100k at age 50 when his inheritance comes in at 500k. at age 60, his invested inheritance is now worth 1.3k. he's a self made millionaire who did it through prudent investing |
|
Date: June 2nd, 2016 1:01 PM Author: Copper talking locus millionaires, yes, but there is a big diff between $1m and $10m net worth
also, people can inherit money when they are younger and it can grow to millions.
a 750k inheritance at 30 at 6% annually is almost $4.5m at 60. If you were successful and amassed $3.5m over your career, now you have $8m. |
|
Date: June 2nd, 2016 11:07 AM Author: cracking light hominid These are household (not individual) figures, and account for adults of ALL ages.
To compare against households your own age, try this calculator: http://www.shnugi.com/networth-percentile-calculator/
For 34-35 year-olds, for example, the top 1% starts at just under $2MM net worth. Consider that much of this is probably inherited wealth, too.
|
|
Date: June 2nd, 2016 12:27 PM Author: Free-loading Windowlicker Dilemma "Consider that much of this is probably inherited wealth, too. " from where, am I such an outlier? all four of my grandparents are still alive, who the fuck would i have inherited 2MM from? and considering rich people live longer, i'd assume there aren't that many early-30s who have inherited 2MM from a grandparent |
|
Date: June 2nd, 2016 12:59 PM Author: cracking light hominid 1) You don't have to inherit millions to end up a millionaire from an inheritance
2)These are average figures and percentile distributions. The top 1% may have a very long tail. |
|
Date: June 2nd, 2016 11:14 AM Author: pearl blathering principal's office So, they're earning 4% on their wealth? (http://www.autoadmit.com/thread.php?thread_id=3234878&forum_id=2#30607488) |
|
Date: June 2nd, 2016 11:20 AM Author: flatulent ungodly school cafeteria Sounds fair to me, rates are like 0.5%. (http://www.autoadmit.com/thread.php?thread_id=3234878&forum_id=2#30607514) |
|
Date: June 2nd, 2016 1:07 PM Author: pearl blathering principal's office you mean the rate that purposefully manipulated to be so low that it incentivizes you to move to higher-yielding risky assets? (http://www.autoadmit.com/thread.php?thread_id=3234878&forum_id=2#30608197) |
|
Date: June 2nd, 2016 12:50 PM Author: Stimulating chrome lodge The net worth number is a crock put out by the Fed (via the Survey of Consumer Finances) to make lemmings think wealth is more easily attainable than it really is. They have a professor at NYU-Stern named Edward Wolff whose job is basically to promote the story according to the Fed's cooked books. The real 1% cutoff is probably a fraction of that. And don't bring up trusts, unreported cash income, private business ownership, etc. There isn't enough wealth in any of these categories, or in similar categories, to make up the difference. (http://www.autoadmit.com/thread.php?thread_id=3234878&forum_id=2#30608070) |
|
Date: June 2nd, 2016 1:12 PM Author: Stimulating chrome lodge The income number, based on tax returns, seems to me to be solid. Incidentally, the top 1% net worth cut off according to the IRS (based on estate tax returns and other information) is shockingly low. Something like 1.75 million, household not individual. (http://www.autoadmit.com/thread.php?thread_id=3234878&forum_id=2#30608216) |