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[roguejuror]

Met with a financial planner today. We're rich.

Who are the 1%? Anyone that owns property worth about $800,000

http://www.bbc.com/news/business-30887264

 

[Archie]

Brian, your FICO Credit Score is 819
FICO SCORE
819
As of 01/11/2015

Congratulations!
Your FICO Credit Score indicates to lenders that you're an exceptional borrower. Keep up the great work.

 

[bacon]

 

[IAG]

Brian, your FICO Credit Score is 819
FICO SCORE
819
As of 01/11/2015

Congratulations!
Your FICO Credit Score indicates to lenders that you're an exceptional borrower. Keep up the great work.

Nice! Good work Archie.

 

[Matty]

Who are the 1%? Anyone that owns property worth about $800,000

http://www.bbc.com/news/business-30887264

Give us 5 years.

 

[Matty]

Brian, your FICO Credit Score is 819
FICO SCORE
819
As of 01/11/2015

Congratulations!
Your FICO Credit Score indicates to lenders that you're an exceptional borrower. Keep up the great work.

Nice. The wife's was 838 before she opened a joint CC account with me.

 

[IAG]

Who are the 1%? Anyone that owns property worth about $800,000

http://www.bbc.com/news/business-30887264

Measuring by wealth not income or property ownership, you probably need at least 10 million to break the top %1 in the USA I imagine.

 

[Matty]

Sounds about right.

 

[IAG]

in their defense they pay %38 of the taxes but account for %20 of the AGI last I read

 

[Boner_18]

Measuring by wealth not income or property ownership, you probably need at least 10 million to break the top %1 in the USA I imagine.

What you say is probably true. But why would you only count liquid net worth? So people who get paid a lot but spend it or people who own vast amounts of assets such as property or art or other illiquid investments don't count? Sounds painfully arbitrary/transparent.

By this rationale Trump is in the 99%.

 

[IAG]

What you say is probably true. But why would you only count liquid net worth? So people who get paid a lot but spend it or people who own vast amounts of assets such as property or art or other illiquid investments don't count? Sounds painfully arbitrary/transparent.

By this rationale Trump is in the 99%.

I am not sure what you are saying. . I said nothing about liquid net worth. The video Rogue showed indicated that the %1 can be determined by $800k in land ownership. You should not measure by income. Overall net worth is the only thing that should matter. I think we are on the same page here.

I was saying you need to measure by over all wealth, not solely by owning an %800k house, or x amount of annual income.

 

[Matty]

I agree. Lots of high-income peeps are worse off than destitute hobos/Caspers.

 

[Tron]

 

[IAG]

I agree. Lots of high-income peeps are worse off than destitute hobos/Caspers.

Am I speaking a foreign language today?

Post hoc ergo propter hoc.

 

[Matty]

Boner thought you were talking about cash assets is all.

Settle down IAG.

 

[Boner_18]

Yep. Nothing to see here.

 

[Boner_18]

A lot of people I know want to exclude their non-liquid assets from the determination of where they fall on the wealth spectrum. They have 500k equity in their house but struggle to pay bills and thus feel like they're poor/low income/etc. When in reality they are AT LEAST in the 50%. I though IAG was advocating this mindset.

 

[IAG]

A lot of people I know want to exclude their non-liquid assets from the determination of where they fall on the wealth spectrum. They have 500k equity in their house but struggle to pay bills and thus feel like they're poor/low income/etc. When in reality they are AT LEAST in the 50%. I though IAG was advocating this mindset.

No. Iag sees the big picture. Iag is edgeukated.