- cross-posted to:
- economics@lemmy.world
- cross-posted to:
- economics@lemmy.world
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“Non-bourgoise feel same stress at everyone else in their class but don’t realize it’s for the same reason”
This headline is offensive
Won’t someone think of the poor millionaires?
The word millionaire has been associated with wealth for decades. However, $1,000,000 today has the same buying power as $400,000 in 1990. I know we’d all like to be millionaires, but it doesn’t have the same meaning that it used to.
Awwww fucking dimmums.
Easily fixed. Spend a few months living on minimum wage and then you’ll feel like a fucken king when you go back to your millions.
The outage in this thread is just a perfect example of how every social media site ends up being a rage bait echo chamber.
If you retired today on a million dollars, you’d have income of 40k and that’s before taking into account future inflation. Nothing about that screams rich or wealthy. 2.5-3M will net you what you need to retire middle class in the US.
Everyone in here screeching angrily that the middle class is being squeezed but they used millionaires so fuck em right?
The most money I have even seen is 18k, and in my community I’m the wealthy philanthropist people come to when their shit breaks down. Can you see how owning a home and having one million dollars handy might be perceived as unimaginable wealth from here? Or how your retirement income calculations might sound to someone who will never retire?
I think people are just having issue with the title, mostly.
Also, I wouldn’t really count an IRA having a million dollars as being a millionaire with the rules regarding distribution. Even a Roth (at least in the US) can have penalties if withdrawn before the beneficiary is 59.5 years old. I’d more consider the title of a millionaire as having at least a million dollars in liquidity, usually more.
There are ways to get money out of an IRA without penalties (72T rule), but the article talks about “net worth millionaires” which includes home value (the article mentions this), and that’s hard to get value out of unless you do something crazy like a reverse mortgage.
The title, is accurate, and meaningful. The top 10% of the planet is feeling squeezed out.
I disagree with the second part. In my experiences I’ve come to believe most of my peers who range in between 150ish -400 + rsu mostly think about when can they retire and maintain their life styles. And for most of my peers live pretty upper middle class lives. Living well but not particularly lavishly.
And we/they know that. We’re near the top, we have it best, but it certainly doesn’t feel wealthy. More like, not fighting for literal survival.
Yeah, I don’t disagree with it being accurate. More just that it’s a very sensitive pain-point for a lot of people and the way it’s worded, at first glance, can make people who are legitimately struggling feel forgotten.
A bit hyperbolic, but it can be something like, “Jeff is trying to make ends meet by skipping meals. Fred is feeling the pressure of the economy and decides to forgo the avocado toast. Let’s focus on Fred.”
Again, it’s a sensitive subject and as such wording of headlines starts to become more and more important. Something like, “In today’s economy, even owning a million dollars is meaning less and less,” could be a bit more neutral.
The comment sections under certain articles couldn’t be more predictable here. People know their audience and therefore know exactly what to say to receive the maximum number of pats on the back. Apparently we’re so devoid of meaning and purpose that even online hate clubs start seeming like something worth becoming a part of. Bonding over shared interests and goals is out, and sharing a mutual hatred of the other is in. That’s the glue holding this group together.
I feel like millionaire might be too broad a term here but I can’t really think of a better phrasing. There is a pretty big difference between an accomplished neurosurgeon or something retiring at 65 with a few million and some asshat CEO retiring at 40 with 500+ million.
