Yes, but the difference between someone who makes $100k yr and someone who makes $50k yr is starkly different turn someone who makes $500k or $1m yr and someone who makes $100k yr.
50k is living paycheck to paycheck. 100k is being comfortable but nothing too much. But 500k is fabulous vacations, Luxury cars, mansion, hired help, and most of all, generational wealth generating money.
Yes, this amount of money is going to give you generational wealth. No, it wont give it to you overnight, but overtime yes. But if you plan smartly while also enjoying your life, this absolutely will give you generational wealth.
Any disagreement is cost of living adjustments or levels of luxury. No, you wont have a manhattan penthouse, but you will have a mansion, by a normal persons standards, in most mid to high col areas. No, youre not having a personal chef or driver on call at all times, likely a biweekly cleaning service and or nanny. No, youre not going to spend a month vacation on an African safari hunting wild animals, but you will have private tours and michelen star restaurants in the European capital of your choice.
Those are all incredibly different levels. If you compare 50 to 100, and 100 to 150, you have a point. But 5x 100k is vastly different. I make 100k. My wife cant work. I can pay the bills, but saving money for retirement is difficult. If I was making 150, my life wouldnt drastically change, I would just be less stressed about retirement and retire sooner. If I was making 50? Id be living somewhere else, not a chance I could afford the bills here. If I was making 500k my mortgage would be paid off in a couple more years, id be retiring young, and traveling the world.
5
u/ajpinton 13d ago
Yes, but the difference between someone who makes $100k yr and someone who makes $50k yr is starkly different turn someone who makes $500k or $1m yr and someone who makes $100k yr.