[nicboobees]

Rich people don't just swim in money you know. It's fairly likely they'll have far more expenses than poor people. So they might have a better pension plan, pay a gardener. Might send their kids to private school. etc etc

So someone earning $200k could well be less well off after expenses than someone earning $50k.

[vdaniuk]

>So they might have a better pension plan, pay a gardener.

>So someone earning $200k could well be less well off after expenses than someone earning $50k.

Poe's law invoked.

[JupiterMoon]

Except that their kids have better chances in life, their retirement is secure, they have a nice garden to relax in etc etc...

Money well spent if you ask me.

[nicboobees]

I agree. I'm just saying that just because someone is a lawyer, and has a reasonably high salary, doesn't necessarily follow that they're swimming in money.

[minot]

When I charged $45/hour before I quit to go back to school, I was nominally making $90k a year. According to the rich list website, that puts me at 0.09% worldwide. No, I am by no means wealthy. I have loans I am not done with!

[imron]

> So someone earning $200k could well be less well off after expenses than someone earning $50k.

less disposable income != less well off

[dragonwriter]

The freedom to choose to take on greater discretionary expenses like that is the definition of being more well off.

[ojbyrne]

You probably should have mentioned taxes. In the US, if most of your income is employment income, the tax system is still very progressive. Not so much for investment income.