[TDoS]

What happened to my detailed example, including the math, of why selling ones house doesn't mean homelessness ensues? 

[K-Dog]

Net Worth Over Time

    1970s: Initial earnings from Roxy Music and early solo projects, estimated at several hundred thousand dollars.
    1980s: Major financial boost from collaborations with David Bowie and Talking Heads, net worth estimated at $10 million.
    1990s: Peak earnings from work with U2 and solo projects, net worth estimated at $30 million.
    2000s: Continued growth through diverse investments and ventures, net worth estimated at $45 million.
    2010s: Strategic investments in technology and visual arts, net worth estimated at $55 million.
    2020s: Recent financial activities and philanthropy, net worth estimated at $60 million.

Brian Eno is actively involved in various philanthropic efforts, including support for environmental causes, human rights, and social justice. He has donated substantial amounts to organizations working on climate change, environmental conservation, and promoting equality and justice. Eno also participates in benefit concerts and events to raise awareness about important social and political issues.

Some people are rich enough to be nice.  It does happen.  I would be one of them. Such know that there is more to true riches than money.  True riches have in fact nothing to do with money.

[TDoS]

Some people are rich enough to be nice.  It does happen.  I would be one of them.

You are one of them, based on net worth. As am I, and other various 7 figure net worth people Iimagine.

Such know that there is more to true riches than money.  True riches have in fact nothing to do with money.

But of course. And more interestingly, it begs the question why it is verboten to talk about our children. They happen to be related to true riches that have nothing to do with money.

[RE]

Some people are rich enough to be nice.  It does happen.  I would be one of them.

You are one of them, based on net worth. As am I, and other various 7 figure net worth people Iimagine.

We have established that in today's economy in the FSoA, a low 7 figure net worth doesn't make you rich, merely comfortable, since the McMansion you live in by itself can be worth over $1M.

To be a lower end rich person, in addition to the McMansion, you need an annual income that puts you in the 1%, >200K or so.  I would add in addition to that other investments which provide enough annual ROI so that if for some reason you became unable to work, you could continue to live in that house, pay all your bills and live comfortably from the passive income.  A portfolio in the neighborhood of around $5M-10M would be about right.  In other words, you may work, but you don't HAVE to work.

RE

[RE]

And what happened to my well calculated post on why K-Dog's $1,000,000 home, when sold, doesn't in any way make him homeless?

The same thing that just happened to the last post.

RE

[RE]

Fitting into the category of "Rich" in Amerika isn't as simple as a single number like net worth or annual income.  It also depends on where you live, your stage of life, debt load, how the wealth is distributed and used and intangible social factors as well.

This article does a little more in depth look at how much it takes to fit into the "Rich" category.  It's still not complete, but better than a reductive metric like 7 figure net worth.  His final conclusion:

If your net worth is under $2 million and your income is under $600,000, statistically, you're probably not rich—you're upper middle class. And in today's world, that still means you're doing very well.

https://www.benzinga.com/personal-finance/25/05/45483329/are-you-rich-or-just-upper-middle-class-heres-the-net-worth-and-income-it-takes-to-be-considered-wealthy

Are You Rich or Just Upper Middle Class? Here's The Net Worth And Income It Takes To Be Considered Wealthy

[K-Dog]

My only real interest in 'am I rich' is to compare my situation to others with the deluded idea that if I and mine, have enough beans to be at least average, then we have enough beans to eat.  The idea being that when this Titanic goes down, you do not want to be below the top deck.  Not that it will matter if you do not get a lifeboat.

I am not about conspicuous consumption.  I'm only about conspicuous survival.  But I don't want to be too conspicuous about it.

We delude ourselves into thinking we can control events.  Those few who can are ruled by social pressures which make them act badly.

[RE]

My only real interest in 'am I rich' is to compare my situation to others with the deluded idea that if I and mine, have enough beans to be at least average, then we have enough beans to eat.  The idea being that when this Titanic goes down, you do not want to be below the top deck.  Not that it will matter if you do not get a lifeboat.

My main interest is more theoretical.  If you are going to view this as a Class War between 2 classes, Rich vs Poor, where is the line drawn, and on which side of the line does a given person stand?  Who do you fight with or for?  Do you have enough money to employ a Private Security Force to protect your property and life when the public police forces break down or become corrupted?  Will you attempt to maintain your wealth and position, or will you share it and freely give it away?  While others starve, will you hoard or share?  Are you with the crowd storming the Bastille, or are you one of the Royalty inside with their guards  defending the castle on the hill?  Which side are you on, boy, which side are you on?

When Warren Buffet said



Who was included in the Rich class?  Billionaires obviously, but also obviously it doesn't take a billion to be rich.  I think equally obviously $100M puts an individuals into the Rich class, but the line starts getting blurry below that.  At $10M a lot depends on other factors like nature of the assets, stage of life and family connections.

So, it's worthwhile to develop a decent idea of what "rich" actually means in Amerika in 2025?  This thread is examining that question.

[K-Dog]

Are you on the side of the working class and a vision of socialism — or are you siding with capital and its enforcers?

Which Side Are You On" was written in 1931.  Employment was at 25%, massive poverty collapsed faith in the  American Propaganda Dream.  The struggle in Harlan County where the song was written documents class war.  Mine owners had private militias (Pinkerton's), the police, and politicians. The miners had nothing but solidarity. Florence Reece's song captured this stark divide.

The song I post was written in 1949 by Les Rice, a farmer from New York State, USA. It deals with the perverse injustice, exploitation and inequality Rice saw all around him. Pete Seeger wrote about Les Rice and this song:

Like most small farmers, he was getting intolerably squeezed by the big companies which sold him all his fertilizer, insecticide and equipment, and the big companies that dictated to him the prices he would get for his produce. Out of that squeeze came this song.