I know plenty of millionaires … people who own property, vehicles and wealth that all amount to one or two million … and they are still just getting by. They aren’t that terribly wealthy - they don’t live with any more luxury than most people, they just have more things.
Billionaires on the other hand are something else … it’s like comparing someone with a weight problem and calling millionaires slightly pudgy and billionaires are grossly overweight behemoths that can affect the structure of your house.
Here’s a visual comparison using grains of rice of what a millionaire and billionaire and the wealth of someone like Jeff Bezos is
Sure, but we don’t “need” anything above our basic survival cost, let’s go live on the Savannah and hunt our food again.
For me the problem are those who hoard wealth, who don’t earn a salary but sit and live off their massive pile of accumulated wealth. We need a wealth tax now.
I mean that too, but also cost of living, rent if you don’t own a home, etc add up over the two or so decades you’d expect to live after retirement. And if you do own a home, congrats you’re a millionaire.
My mom ‘retired’ with ‘much much less than “millions”’. She stopped working at 75.
She lives in a small $2/sqft/mo rental with dodgy power, asbestos in the walls, windows stuck shut, people staggering past the fuse box all night, miner bees in the walls, and shit Internet. It’s a coastal town with no access by roads - just ferries - and minimal services. It’s a half-day to get there, really, or an hour’s flight.
you may need to experience your version of ‘doable’ before you commit to it.
In the current situation yes. The point is we need to fix it so one doesn’t need excessive capital to simply retire, and the rich begging to be taxed more can do a lot on their own to help without the Government.
Anyone with either millions or billions is the problem because no single person needs either.
You need to be a millionaire these days if you want to actually retire. If it only took a million, would have retired a while ago.
I know plenty of millionaires … people who own property, vehicles and wealth that all amount to one or two million … and they are still just getting by. They aren’t that terribly wealthy - they don’t live with any more luxury than most people, they just have more things.
Billionaires on the other hand are something else … it’s like comparing someone with a weight problem and calling millionaires slightly pudgy and billionaires are grossly overweight behemoths that can affect the structure of your house.
Here’s a visual comparison using grains of rice of what a millionaire and billionaire and the wealth of someone like Jeff Bezos is
Using Rice to Show How Rich Jeff Bezos Is | NowThis
I understand the extreme difference between millions and billions. My point is neither a millionaire nor a billionaire needs it.
Sure, but we don’t “need” anything above our basic survival cost, let’s go live on the Savannah and hunt our food again.
For me the problem are those who hoard wealth, who don’t earn a salary but sit and live off their massive pile of accumulated wealth. We need a wealth tax now.
Straw man detected.
Uh… You do need millions to retire.
😮💨 doing the math to figure this out is depressing.
Not if you publicly fund health care.
Need millions to retire even in Canada.
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We have healthcare figured out for the most part. The issue here is housing.
I mean that too, but also cost of living, rent if you don’t own a home, etc add up over the two or so decades you’d expect to live after retirement. And if you do own a home, congrats you’re a millionaire.
I feel like a lot of people retire with much much less than “millions”. Might not be a super comfortable retirement but, def doable.
My mom ‘retired’ with ‘much much less than “millions”’. She stopped working at 75.
She lives in a small $2/sqft/mo rental with dodgy power, asbestos in the walls, windows stuck shut, people staggering past the fuse box all night, miner bees in the walls, and shit Internet. It’s a coastal town with no access by roads - just ferries - and minimal services. It’s a half-day to get there, really, or an hour’s flight.
you may need to experience your version of ‘doable’ before you commit to it.
Being a homeowner gets you there in a lot of places, it doesn’t matter because you still need a home so you can’t live off it
In the current situation yes. The point is we need to fix it so one doesn’t need excessive capital to simply retire, and the rich begging to be taxed more can do a lot on their own to help without the Government.
Almost like the col should be reigned in.