How much household income?

[moosehead]

Nunya.

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[Sgt Beavis]

You mixed up two different measures of wealth. Yearly income vs. being a millionaire. Being a millionaire is kind of pedestrian now. If you own a house and have a 401k and are >30 years old, you probably are a millionaire, at least in this forum.

Very true. I owe ~$300K on my house but it's now valued at around $800K. Add my stock holdings, 401K and I'm a 'paper' millionare. That includes subtracting my debts.

That said, I make pretty decent coin,,,, for now. My company was recently bought so we'll just wait and see how things shake out.

Also, technically anyone could make $1 a year and answer any of those poll questions truthfully.

 

[Oldsmobile_Mike]

Tacky. Some of us here work for our money. But wait till I win the lottery, peasants! ?

 

[Count Orlok]

To quote The Count "We no longer have W2 income and with tax loss harvesting our taxable income from 1099s will be minimal. I answered truthfully but take issue with the "you peasants!" line as I would never say that. I grew up poorer than a church mouse and didn't own a car or TV in my 20s while in graduate school. We also have decided the 4% run is bullshit and hope to die with zero."

 

[Tr4ckD4ys]

I clicked the peasants answer because I thought it sounds funny and because I want to be an example of why not to trust the internet.

 

[Donald Stanfield]

Mine was between two so I took the lower one.

 

[PhatDaddy]

You mixed up two different measures of wealth. Yearly income vs. being a millionaire. Being a millionaire is kind of pedestrian now. If you own a house and have a 401k and are >30 years old, you probably are a millionaire, at least in this forum.

Agreed. I see the key being Annual Income vs Net Worth. But I'm just a poor retired boy waiting for his first chance to drive his 'Luxury Car of the Year'... finally coming 12/30! Happy Holidays.

 

[Donald Stanfield]

To quote The Count "We no longer have W2 income and with tax loss harvesting our taxable income from 1099s will be minimal. I answered truthfully but take issue with the "you peasants!" line as I would never say that. I grew up poorer than a church mouse and didn't own a car or TV in my 20s while in graduate school. We also have decided the 4% run is bullshit and hope to die with zero."

I know what amount is required to get into a tax managed account Only because I'm looking into it too. I agree with the you peasants thing. I started as a plumbing apprentice and I know what its like to be poor enough to choose between eating and getting gas to go to work the next day.

I think its a misconception that everyone with X dollars is an asshole or looks down on others. Its really middle income people who do that not the wealthy. One of my best friends is a janitor who is barely scraping by and I've learned a lot from that man. Money doesn't make the man.

 

[SeaGeo]

To quote The Count "We no longer have W2 income and with tax loss harvesting our taxable income from 1099s will be minimal. I answered truthfully but take issue with the "you peasants!" line as I would never say that. I grew up poorer than a church mouse and didn't own a car or TV in my 20s while in graduate school. We also have decided the 4% run is bullshit and hope to die with zero."

I know what amount is required to get into a tax managed account Only because I'm looking into it too. I agree with the you peasants thing. I started as a plumbing apprentice and I know what its like to be poor enough to choose between eating and getting gas to go to work the next day.

I think its a misconception that everyone with X dollars is an asshole or looks down on others. Its really middle income people who do that not the wealthy. One of my best friends is a janitor who is barely scraping by and I've learned a lot from that man. Money doesn't make the man.

Coming from "being poorer than a church mouse" I don't take issue with it. OP is joking about the perceived attitude of the ultra wealthy. It's very tongue in cheek.

 

[Donald Stanfield]

Coming from "being poorer than a church mouse" I don't take issue with it. OP is joking about the perceived attitude of the ultra wealthy. It's very tongue in cheek.

I know. I was commiserating. Although I am very far from "ultra" wealthy personally. That net worth starts with a B.

 

[mkg3]

The phrase "annual household income" implies the total amount of income earned by the members of the household. So for that I just entered less than or at $100K survey choice. My wife and I combined make less than $40K/yr and nearly 100% goes towards estimated tax payments.

There are many forum members, sounds like, are either semi- or fully-retired. For us, our so called income is a direct function of total expenditures as we're essentially retired. We both have part-time gigs to keep us busy and engaged but not working for money, per sa.

We do our best to keep the tax liabilities to the minimum and budget our expenses so that our AGI doesn't go past the 22%, for the most part (we failed this year due to R1S).

 

[pnwr1s]

Gross.

 

[kylealden]

a $500k house with $300k principal left to pay off

Millionaire or no, what's a "$500k house"? Sounds fishy

 

[Matt D.]

My income is in Dracmas so I’m not sure how to answer the question directly…

 

[TollKeeper]

I thought I already asked a very similar question...

https://www.rivianforums.com/forum/threads/how-much-household-income.21237/

But..

I answered truthfully, under 100k.

But on paper, I guess I would be a Shooting for a Million in static assets, and not cash flow.

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