Re:The dangers of high status, low wage jobs
by astrange on Wednesday February 09, 2022 @03:23PM
(#30277955)
Net worth isn’t a good measure of being rich; high negative net worth means you’re rich too. All the average people are in the middle.
Re:The dangers of high status, low wage jobs
by tonyedgecombe on Thursday February 10, 2022 @10:50AM
(#30287865)
Not really, wealth is usually a measure of assets rather than income.
Re:The dangers of high status, low wage jobs
by lukas099 on Wednesday February 09, 2022 @06:41PM
(#30280429)
Can you explain what you mean by this?
Re:The dangers of high status, low wage jobs
by astrange on Wednesday February 09, 2022 @06:47PM
(#30280502)
Low net worth includes people with $0, but also people worth negative millions because they have a lot of debt. The only way to get that much debt is if you’re rich.
It’s better to look at assets excluding debt. This also shows the problem with student loan relief, which is it mostly benefits dentists.
I'm not even sure that many are really rich. I recently read that the average net worth of a Ferrari owner is less than one million pounds and that most Ferraris are financed.
Real wealth is what you don't spend.