Ask Lemmy

27240 readers

2213 users here now

A Fediverse community for open-ended, thought provoking questions

Rules: (interactive)

1) Be nice and; have fun

Doxxing, trolling, sealioning, racism, and toxicity are not welcomed in AskLemmy. Remember what your mother said: if you can't say something nice, don't say anything at all. In addition, the site-wide Lemmy.world terms of service also apply here. Please familiarize yourself with them

2) All posts must end with a '?'

This is sort of like Jeopardy. Please phrase all post titles in the form of a proper question ending with ?

3) No spam

Please do not flood the community with nonsense. Actual suspected spammers will be banned on site. No astroturfing.

4) NSFW is okay, within reason

Just remember to tag posts with either a content warning or a [NSFW] tag. Overtly sexual posts are not allowed, please direct them to either [email protected] or [email protected]. NSFW comments should be restricted to posts tagged [NSFW].

5) This is not a support community.

It is not a place for 'how do I?', type questions. If you have any questions regarding the site itself or would like to report a community, please direct them to Lemmy.world Support or email [email protected]. For other questions check our partnered communities list, or use the search function.

6) No US Politics.

Please don't post about current US Politics. If you need to do this, try [email protected] or [email protected]

Reminder: The terms of service apply here too.

Partnered Communities:

Logo design credit goes to: tubbadu

founded 2 years ago

MODERATORS

[email protected]

What's your definition of a wealthy person? Sure, Bezos is rich, but where do you put the threshold? (sh.itjust.works)

submitted 4 days ago* (last edited 4 days ago) by [email protected] to c/[email protected]

115 comments fedilink hide all child comments

What does it take in terms of assets, abilities, and/or income for you to consider them wealthy?

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 1 points 4 days ago* (last edited 4 days ago) (1 children)

Max contributions to a ROTH IRA is $7,000. Most people don't have an extra $7,000 lying around. If you do, chances are you're already in the top 10%.

[–] [email protected] 4 points 4 days ago (1 children)

I would still say that’s not true… I probably make half as much as you but I just try to be extremely frugal… just saying it’s doable

[–] [email protected] 5 points 4 days ago

I do make maximum contributions, but I also have two kids with college funds and a mortgage that I'm paying down. We're comfortable, and I consider myself extremely fortunate for the life I've built for myself.

Unfortunately, it took me a while to pay off college debts, and then the 2008 crash wiped out a lot of our savings. I don't expect to ever have enough saved to actually retire.