Post: #1

We talk a lot on here about how to make money, in order to achieve the location independent lifestyle, but we don't talk much about how much you want to make.

The top 5% salary in the US. That equates to about 160K. The top 1% is about 380k. (both 2009 figures). Im sure these numbers are skewed, 380k seems low for the top 1%.

I could live extremely comfortably in just about any part of the US on 160K. I could live like a king in any third world country.

My google skills are lacking, I can't find a decent income report stating the top 1% median income by country. I did find this http://www.globalrichlist.com/ (note: it is some kind of donation website, so they are probably skewing figures as well)

+1 to anyone that can find a decent bell curve analysis of income by country worldwide.

Imagine this: YOU get to set YOUR OWN salary. Completely location independent.

So if you could set your own salary and location, what would it be.

edit: keep this shit realistic. Your a CEO of a non-profit, and thus can set your salary. Too high and no one will support your cause, too low and your short changing yourself

Post: #2

Hey dude there are stats on this all over the web. The correct census answer is Pre-Tax 560K as of 2011 numbers. The numbers you posted up there are "salary" or must be post Tax $$. Most guys who are actually doing well make a large chunk of change in bonuses, people will work harder for that one time shot in the arm than with a large salary. Hell the Average managing director at a investment bank his Salary is ~$150-200K... but that bonus puts him into the 7 digit range if he Closes deals.

Finally if you're looking for by Country just go to wikipedia and look at the MEDIAN. Averages are useless, its like if bill gates suddenly moved to a bolivian province... You can't make negative money so always skews high my man.

Location independent lifestyle would be difficult to judge without going to the country based on research i could "live" in honduras for $800 a month... doubt thats something i want though!

Anyway if someone knows of a better source of Median incomes that'd be great but its kinda useless without the visit IMHO, instead use the USA for what it is an ATM to GTFO by the time you hit mid thirties.

Post: #3

http://money.cnn.com/2012/01/04/news/eco.../index.htm

NEW YORK (CNNMoney) -- The United States holds a disproportionate amount of the world's rich people.
It only takes $34,000 a year, after taxes, to be among the richest 1% in the world.

Post: #4

(06-17-2012 09:37 AM)Roark Wrote:  http://money.cnn.com/2012/01/04/news/eco.../index.htm

NEW YORK (CNNMoney) -- The United States holds a disproportionate amount of the world's rich people.
It only takes $34,000 a year, after taxes, to be among the richest 1% in the world.

Holy shit,I'm in the top 1% of earners in the world!! So technically I'm fabulously wealthy right? How bloody marvellous! Strange then that I'm driving a crappy Peugeot and my bank balance is in the red.

Post: #5

(06-17-2012 09:46 AM)Vorkuta Wrote:  

(06-17-2012 09:37 AM)Roark Wrote:  http://money.cnn.com/2012/01/04/news/eco.../index.htm

NEW YORK (CNNMoney) -- The United States holds a disproportionate amount of the world's rich people.
It only takes $34,000 a year, after taxes, to be among the richest 1% in the world.

Holy shit,I'm in the top 1% of earners in the world!! So technically I'm fabulously wealthy right? How bloody marvellous! Strange then that I'm driving a crappy Peugeot and my bank balance is in the red.

You have a car and a bank account. Top 1%

Post: #6

An Investment Manager's View on the Top 1%

Quote:I sit in an interesting chair in the financial services industry. Our clients largely fall into the top 1%, have a net worth of $5,000,000 or above, and if working make over $300,000 per year. My observations on the sources of their wealth and concerns come from my professional and social activities within this group...

If there are guys out there that are in the know, is this stuff accurate?

For the setting your own salary thing COOs, CTOs of good companies in my country earn $ 100-140k net and no stock options, that would be great to have given the cost of living here (although an entry level E-Class Merc will set you back $120,000 here).

The ironic thing here is that I know many upper middle class people (usually older) who have the means but prefer to live a more austere life relatively speaking compared to their western counterparts. Yeah they spend on certain things, but you don't see them loading up on brand name or custom clothes or go for fancy restaurant dining. It's as if there's a contest on who can be more thrift and austere, except when donating for temple constructions etc where the bigger the number the larger your cock. The lifestyles of many expats who earn far less seem to be way more lavish. Which also makes me sometimes wonder why work so hard for your money if you're not gonna spend it. Contrast that to the low level office wave slavers in Bkk who earn <$700 a month but own an Iphone.

Post: #7

(06-17-2012 09:37 AM)Roark Wrote:  It only takes $34,000 a year, after taxes, to be among the richest 1% in the world.

If this is true, I'm curious as to how well one might live abroad earning $34,000 post-tax annually.

How good would $34,000 per year be in Poland?

Brazil?

Colombia?

Thailand?

Philippines?

etc.

Post: #8

(06-17-2012 12:05 PM)MSW2007 Wrote:  

(06-17-2012 09:37 AM)Roark Wrote:  It only takes $34,000 a year, after taxes, to be among the richest 1% in the world.

If this is true, I'm curious as to how well one might live abroad earning $34,000 post-tax annually.

How good would $34,000 per year be in Poland?

Brazil?

Colombia?

Thailand?

Philippines?

etc.

Solution is getting on a plane, lifestyles vary drastically from country to country. Example is good luck finding a place to swoop/eat in say Mexico on a weekday late @ night (excluding places like cabo, which is just mini USA), Brasil would be mini USA style need more cash than 34 IMHO for sp or rio but u get all benefits, Canada is just like the US but chiller Parisian feel.

Like I tell my friends, "get out of your comfort zone or else you never know". If you're doing 1 thing a week where you feel "awkward" you're getting stronger.

Post: #9

(06-17-2012 11:51 AM)the_conductor Wrote:  An Investment Manager's View on the Top 1%

Quote:I sit in an interesting chair in the financial services industry. Our clients largely fall into the top 1%, have a net worth of $5,000,000 or above, and if working make over $300,000 per year. My observations on the sources of their wealth and concerns come from my professional and social activities within this group...

If there are guys out there that are in the know, is this stuff accurate?

For the setting your own salary thing COOs, CTOs of good companies in my country earn $ 100-140k net and no stock options, that would be great to have given the cost of living here (although an entry level E-Class Merc will set you back $120,000 here).

The ironic thing here is that I know many upper middle class people (usually older) who have the means but prefer to live a more austere life relatively speaking compared to their western counterparts. Yeah they spend on certain things, but you don't see them loading up on brand name or custom clothes or go for fancy restaurant dining. It's as if there's a contest on who can be more thrift and austere, except when donating for temple constructions etc where the bigger the number the larger your cock. The lifestyles of many expats who earn far less seem to be way more lavish. Which also makes me sometimes wonder why work so hard for your money if you're not gonna spend it. Contrast that to the low level office wave slavers in Bkk who earn <$700 a month but own an Iphone.

Yes accurate, I would avoid getting into this comparison stuff though, people who make money are the most hated. G manifesto had a comment on this, totally agree, success = lonesome/massive lash outs from others. Funny thing is this is how you get trapped lonesome = marriage. Circle of fatality continues.

This weekend is a great example, I have mentioned several times I look very young, I got upgraded to biz class... The male stewardess Asked for my god damn ID and scoffed when I asked for white wine. The fun lifestyle for a person with money is lonely if you're insecure like most, you get trappe in the joneses.

Anyway want to know how to get richer? Do The reverse, study hard when young get a good job, avoid MBA/cfa/phd whatever. Why? Money talks. You get richer by making other people richer. When everyone is worried about what school to get into, you're selling your boss the "I want to support my family" lie, he'll feel for you and move you up because no doubt, he is a strong omega.

Post: #10

(06-17-2012 09:46 AM)Vorkuta Wrote:  Holy shit,I'm in the top 1% of earners in the world!! So technically I'm fabulously wealthy right?

No, income and wealth are different things, as you are probably well aware.

Quote:How bloody marvellous! Strange then that I'm driving a crappy Peugeot and my bank balance is in the red.

Having a negative net worth and a high income is a result of spending habits. If you want to have a bank balance in the black you have to spend less than you consume.

If you are concerned about the car you drive, I think you should cut expenses from other areas such as shelter or food.

Personally, I am happier driving nothing and spending slightly more on well located accommodation in order to save on the associated costs of owning and running an automobile.

Post: #11

Quote:How good would $34,000 per year be in Poland?

Pretty good. You can get a lease on an apartment dead center... go out whenever you want... not to have count money. And still save at least $1,000 a month.

Post: #12

Based on numerous members here on this board it confirms that it only takes less than 50K annually to live a decent life abroad. I wonder why there is this misconception that people need to make a ton of money to live the independent lifestyle..especially in the states.. in actuality it takes less to nothing to be content.

Post: #13

Being in the elite is all about NET WORTH, not income.
The top 1% - in the Occupy Wall St sense of the true upper class - owns the rest.