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Reply #39: If you have an income of $150,000, you could save [View All]

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JDPriestly Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Dec-10-11 02:24 AM
Response to Reply #9
39. If you have an income of $150,000, you could save
Edited on Sat Dec-10-11 02:28 AM by JDPriestly
a meaningful part of your money or invest it in real estate, the stock market, gold or a business.

If you have an income of only $40,000, you probably don't have much left over after you pay for necessities to invest in much of anything.

That is why people with average incomes -- which would be maybe $30,000 to $40,000 if you are excluding people who earn more than $150,000 from the pool from which you calculate the average -- think that an income of $150,000 would mean they were rich.

If they had an income of $150,000 they could invest or save -- and people who can invest or save can earn money just by virtue of the fact that they have money.

Being able to invest makes you a part of the class that has power, the class of the bosses.

Actually, $150,000 may not be "rich" to economists, but in terms of social class and power, it probably is.

If you can't save or invest on $150,000 anywhere in the U.S., you need to change your lifestyle.

I should add that I would exclude people earning $150,000 or above from the income pool from which I would calculate the average income for purposes of my post simply because I only wanted to include those people who think that an income of $150,000 was "rich." I doubt that a person earning $150,000 would think that he or she was rich.

So, I am not using the term "average" to mean the average income in our society but rather the average income of those who would probably respond to the poll to the effect that those who earn $150,000 a year are probably rich.
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