Emma, no, the top 1% has at least 10M in liquid assets (primary residence doesn't count). 150k will never take you to that level.

If you are a two-professional household it can.

Even with a 1M income you can't catch up. Their 10M grow at 10% per year, which gives 1M in the first year alone, while you can put only 0.5M after taxes. In 20 years it will take 50M to be in the top 1%.

Well, the thing is you generally can't make $150k in a place where a few years of that salary will sustain you for years. If you are making $150k per year you are living in a place where you can live comfortably, but you'll still need to work every year for a long time.

Richest 1% of what? Globally, the richest 1% is something like $35k IIRC. In the US, I think it's closer to $450k.

$150k is not even enough to buy a small home near your workplace in a lot of cities. Janitors had better living conditions 50 years ago than $150k earners do today

You sound more out of touch than an alien from outer space. No way is 150k worse quality of life than a janitor 50 years ago.

Many janitors are unionized and paid quite well. I think you're the out of touch one here.

Data or gtfo

>Janitors had better living conditions 50 years ago than $150k earners do today

Utter bullshit.

>$150k is not even enough to buy a small home near your workplace in a lot of cities

Live within your means for 5 years, invest the 70k/y excess money into index funds.

You can live of dividends anywhere in the world that isn't a capital in a first world country. Without even losing money.

Literally the 1% pretending to be poor and living in worse conditions that janitors 50 years ago. Yeah, right.

It's utterly amazing to me how far up the wealth pyramid you can go and find people saying "Me? No, no, no, I'm not wealthy - it's the people above me who are the wealthy ones."

Perhaps it stops at like $500k/yr?

> Perhaps it stops at like $500k/yr?

It stops once somebody’s net worth is already so high that their annual income is irrelevant. Those are the real wealthy people.

> Janitors had better living conditions 50 years ago than $150k earners do today

This is just batshit crazy.

There's plenty of cities that aren't NYC/SF/LA