The same could apply to New York and Northern/Central New Jersey. Being a millionaire just aint what it used to be...
This is excellent.
In most countries, when people get rich, they stop working hard. Here in the US, we have found a way to keep them at it. This is the only way an affluent country can keep moving forward.
We need the work of these highly educated people to keep our economy growing.
My favorite line.........
“...a few million doesn’t go as far as it used to...”
...does anyone have trouble believing Ca is a left wing state?
Of course, in many cases, these people have let their expenditures get out of whack. Too fancy houses to keep up,expensive yacht, too many cars, very expensive schools for their kids etc.
A good question ...How much do you need?
But a better one might be ... How do I get to keep, in today’s dollars, what I’ve earned ?
The Gospel appointed for today: (Luke 12:13-21)”...Then Jesus said to them, “Take heed and beware of covetousness, for one’s life does not consist in the abundance of the things he possesses.” Then He spoke a parable to them, saying:”The ground of a certain rich man yielded plentifully. And he thought within himself, ‘What shall I do, since I have no room to store my crops?...I will pull down my barns and build greater, and there I will store all my crops and my goods. And I will say to my soul, ‘Soul, you have many goods laid up for many years; take your ease; eat, drink, and be merry.’” But God said to him, ‘Fool! This night your soul will be required of you; then whose will those things be which you have provided?’
So is he who lays up treasure for himself, and is not rich toward God.”
I can empathize - to a point.
I’m 10 years behind, but if I maintain my trajectory I should be in his shoes - or close - by that time.
Of course, when I get there I’ll probably bail to someplace more livable.
Until then, it’s the Sillycon Valley salt mines for me! :D
Fortunate is a synonym for lucky. There is nothing lucky about acquiring wealth from hard work.
my wife and I are retired and own our own home outright...the guy quoted in this article is right...believe me, a million is not that big.....it will conservatively throw off $60,000/year....nobody is gonna live large on $5000/month...not the way taxes are going up in this country.....and don’t get me started on health insurance!....it’s our biggest monthly expense....I used to think a million and you’re rich....now I know different....here’s a realistic retirement outlook:
retire with $500,000....you end up being a greeter at WalMart
retire with $1,000,000.....you get an lower middle class life.
retire with $1.500,000.....you get a middle class life
Is this a digg by an X'er "I want it all given to me?"
Puhleese!
People like him are not doing this for the money. They are driven. If he retired today, he would likely die within the year, unless he found something else to do.
Hey with their communist/socialist friends like Obama, Edwards, Hitlery & Co who’re drooling at a tax hike, should’nt they be GLAD to be living in Kalifornia “The land of the socialist & hollyweird elites”.
Yeah, there isn’t much beach here. Nor much in the way of mountains. On the other hand, lots of people live just fine here on under 50K a year. He should do what I did over 30 years ago. Move. I also traveled around a bit before settling, courtesy of Uncle Sam, and I’m quite happy here. Even if my dad now calls me a flatlander. ;)
California is about to implode, IMHO.
The ongoing giddy sense of paradise, and raging prosperity in the Golden State for the last decade has been fueled by exploding real estate equity.
The economy isn’t really getting better here. But a lot of people have been given access to a lot of money, which they otherwise would not have. It was almost a decade of unexpected free money.
People who bought homes a decade ago for rational prices, become millionaires almost overnight. All that equity in a rising home market, drove a torrent of home-equity driven spending, which in turn fueled spending and kept generating higher taxes for the state.
That of course kept pressure off the state government (including the current Gov) to control spending, since it was being funded unexpectedly well by increasing revenues.
Well. Guess what...
"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus
He said California had been run by liberal morons for so long (remember, he was from the home of Libertarianism) that they had made the place unliveable. Their idiotic restrictions on landlords, developers and property owners had resulted in housing being so sparse and expensive that he already had his entire condo project leased out, and they hadn't even broken ground yet. He'd had to spend a year just cutting through red tape, and he said his wife thought he was crazy because he'd been offered a $25,000 bonus for doing such a good job, and he told them to keep it, at least until he got back to Vegas. He said with California taxes, he'd be pushed into a higher bracket and end up paying more than $25,000 in taxes if he took it. He ranted that the socialist nutjobs in Sacramento had managed to think of every way possible to punish anyone who tried to do anything remotely productive.
Again, that was 20 years ago. I shudder to think what it's like to live there now if you aren't a social parasite or a limousine liberal with a trust fund of money earned by someone else.
in Arizona they call them $35,000 millionaires...people that kept flipping up or refiancing to have a better lifestyle. All while holding down 35k jobs.
What, exactly, is stopping him from selling the house, moving someplace cheaper, and retiring (or finding a job that doesn't require him to work so many hours)?
Being an idiot probably has a lot to do with that. When he gets to the point that the hoary fingers of death are just around the corner, he'll even waste the last days/months/years of his life wondering why he blew all of his young healthy time keeping to this track instead of kicking back and spending time with the wife or bouncing some grandkids on his knees...