What is your threshold for considering someone “wealthy”?

[PrimeIsGettingComfortable]

And what annual income do you think a family needs to earn in order to live a good life?

Just curious with all the tax discussions what benchmarks people have for those two categories.

 

[yoshi121374]

And what annual income do you think a family needs to earn in order to live a good life?

Just curious with all the tax discussions what benchmarks people have for those two categories.

Such a hard thing to put a number to because it really depends on a bunch of factors such as where they live, lifestyle etc.

I would say in South Carolina if you are making $500k+ per year you are living really well, but I wouldn't consider that to be "filthy rich" .

 

[PrimeIsGettingComfortable]

Such a hard thing to put a number to because it really depends on a bunch of factors such as where they live, lifestyle etc.

I would say in South Carolina if you are making $500k+ per year you are living really well, but I wouldn't consider that to be "filthy rich" .

I’ve always found it funny that our tax code punishes urban dwellers more than those in rural communities. But since so many of those communities are dying anyway, it might not be a bad thing to incentivize rural living.

 

[yoshi121374]

I think that is a consideration most forget - the higher these punitive tax rates are, the better it is for rural economies. The quality of life will increase even more for a job that pays $500k in SF vs $250k in Greenville. People - especially remote employees - will continue moving to a lower cost of living area and companies in those areas will be able to compete for employees better than jobs in NYC SF LA etc.

I turned down a pretty large promotion a few years ago since the move would have been to Chicago and the cost of Living would far outstrip the additional pay.