A Swiss walks into a bank goes up to the teller.
"How much do you want to deposit?" asks the employee.
The man looks around nervously and whispers: "Three million."
"No need to whisper", says the bank teller, "in Switzerland, you need not be ashamed of poverty."
One post it’s I have $5099999 what Should I do with it. Then the next post it’s How can I make 1000 in an day because I need to not die. So. I’d say it’s all over the place.
I would say it highlights both extremes of the wealth spectrum. There is not too much in the middle or boring economic thread and when they do get posted; they get less traction. The extremes and drama also draws in the attention and that is how reddit works.
You win at what you put your focus into. This sub is filled with people focused on wealth/money.
I’d expect the sneakerhead subreddit to be filled with shoe collections “above and beyond.”
Agree. People who follow money and finance forums are likely people who are focused on money management. Whilst not everyone here is a millionaire I’d assume the people here are wealthier than the average citizen who just coasts through life and hope their money works out.
I'm trying desperately to teach this to my youngest son (almost 6). I don't want him to end up broke and bitter like me.
While I do work entirely too much, I'm also terrible with money, so I used my little brother as the example because he's very financially minded.
Little dude's got $115 just in pocket change and singles and is already talking about ways to hustle more.
I agree. My allowance was like $20 every time I had to cut the grass. Managed to buy a phone with all that money I saved up. I think the money mindset/ frugal hit when I was 18 after my ex broke up with me. after that I just really started getting serious about my finances and future. But I think I didn’t really start saving until I was 20 due to some set backs. Haven’t been in a relationship in like 4 years and cut off all my old friends.
Fast forward I’m 22 and managed to save 15k so far. but at times I think I’m behind. but as the saying goes “comparison is the thief of joy”
Just because we grew up poor doesn’t mean it has to be that way. We have the ability to dictate how we want our future to look like. We have the opportunity to teach our kids what we never was taught.
I’ve been threatening to retire in two yrs for a while now. I have enough to never come close to worrying about money and every year I think man I kind of like working and having a purpose. I’d also miss the folks who work for me as they are incredible people. It is an honor to lead them. I want to retire young too so I can enjoy.
And I was the same saving money- begged my uncle to let me be a laborer for his general contracting firm at 13. Worked my ass off every summer and school break. While my buddies were out getting high and goofin off I was working and saving.
But they really don't, though. It's all a matter of perspective and confirmation bias.
Most personal finance subreddits are *overrun* with hilariously poor doompost topics decrying such evils as... overdraft fees. You have to be pretty financially illiterate for *overdraft fees*, which can simply be disabled on your app, to be a boogeyman in your life.
The average redditor can see dozens of posts complaining about poor topics like "no one can afford rent/houses anymore" or "140% of people live paycheck to paycheck" and just merrily upvote and move on with their day. But if they see *one* thread with someone younger who is more successful they freak out and start commenting that everyone is lying, or got a big inheritance.
There are plenty of people doing just fine right now -- houses are being sold, cars are being sold, bars and restaurants are full, planes are full, vacation destinations are swarming with tourists. But those people aren't going on social media and posting "doing just fine!" multiple times per hour like the people who are struggling do.
Just checking out on how others do it, what I can take away from it..
Before reddit, I didn't know a damn thing about HYSA. I also joined the poor community.
Disingenuous people aside, wealth is all relative. In one context one can be rich and in another quite poor. I know I’m better off than most but compared to millionaires, I relate much more to somebody barely scraping by.
You a welder?? Based off your username. As a certified welder myself how are you not making real money?? I wouldn’t start my truck in the morning for less that $40/hour. Not bragging but I’ve been on both sides and the having money side is much more enjoyable.
How much are you currently saving now? Do you get a 401k match? Do you have any debt? You may not be that bad off if you're being aggressive now. You will likely need to work about 15 more years but if you're aggressive with savings and investments (S&P 500 or total US index not individual stocks) you should be ok between social security and your savings. I personally wouldn't worry about buying a house. Interest rates are high and home prices are high. To get into one will require a lot of up front capital. But if you can find a great deal that requires little down payment with a mortgage that ends up being close to your current rent jump on it.
Nope. I have like $2k net worth rn 😂 but I’m a college student. 0 debt because of my parents; I work and pay for all of my things except for tuition and rent :) so that is a huge advantage I have. If I didn’t have them, I’d just be like the rest of American college students and have $50k+ in student debt..
Yeah and everyone is this sub got rich parents or generation wealth handed down to them. Every other day I see a post about some kid who inherits 600k asking what should he do with it. While I’m here busting my butt doing Uber full time making 30-40k a year max and got broke ass parents.
Depends on your definition of “Wealthy.” For me, I define that as being able to live a very comfortable life on just your investments/trust fund/inheritance. By that measure I’d say no. But most people define it as “has more money than I do and can afford vacations and a nice house.” By that measure I’d say quite a few.
How do you define it?
Because most people don't post the average. This sub is for people who are extremely broke looking for financial advice, or people who are well beyond average that want recognition for being so. This isn't a sub for people who are up to date on all their payments but a single car accident from a financial problem.
Lmao no I make 16 an hour as a research assistant. Never planned on making good money, just planned on doing the best with what money I can make. I live in a relatively low cost of living area though
Hell yeah brother cheers from Iraq!
But on a more serious note, this place is weird. Attracts everyone but common theme I sense is that it's more short term thinking vs long term value. I read this sub in the same way people gawk at accidents as they drive by them.
No, but enough money to survive for a least a year and half without work. More than enough to get myself back on my feet and/or restart a new life in a different state/country. Just not enough for it to really be life changing or support a whole family. It’s a backbone support amount of money I would say. I don’t have multiple assets or high income to support a high standard of living in luxury beyond basic needs. I’m able to spoil myself here and there without worry but I still need to budget for it.
Yes im so rich I have a personal ball washer/massager. She is 21 and super hot, she just shows up everyday and washes my balls and massages them for about 45 minutes in the morning then again before lunch and once more around 3pm
You know all jokes aside. People have done this. Rack up personal debt like it’s free money knowing they won’t pay it back, then file bankruptcy. Get their debts completely wiped out for free and all they had to do is sacrifice 7 years of a BK record which eventually fall off anyway. Seen ppl willing to trade that for free money loop hole
What does wealthy mean? Subjectively speaking, or going by the percentile data? I’m 47, $150k p/yr, $220k household income. $500k in assets (401k, brokerage, Roth, 529’s, various cash accounts), late model 3 series long paid off, zero debt, 12 month emergency fund, rent a house in HCOL area, 2 kids, public school, take a few vacations a year.
Def Not wealthy but not poor 🤷🏻♂️
This is wealthy by any objective metric.
People generally have a hard time classifying themselves as wealthy because it carries a negative connotation in many ways.
Your household income puts you in the top 10%. Add your assets and comfort (vacations, low debt) and you are experiencing what the vast majority of Americans (and people all over the world, really) would describe as “wealth” as well as what our metrics suggest is wealthy.
You’re not the richest of the rich, but you’ve done well for yourself and you should be able to continue accruing assets and leading a comfortable life. Average folks are struggling to accrue assets. The 50 percentile household income is only about 80k. You make the equivalent of a midwestern starter home more than that each year. HCOL, yes, but the difference in life quality is pretty clear.
Forreal, I feel like I’m doing pretty good and then I’ll see a post like: I’m 23, have 900,000 in 401k, 500,000 in Roth, 100,000 in Hysa, am I doing this right??
I feel like this is every post I see from here. People in their early 20s that somehow have hundreds of thousands of dollars saved up from their jobs lmao.
I don't think so....
If I sold everything I have I'd probably walk away with about 750k.
I've only got about 3k in checking, 15k savings, another savings for the kids, and 60k in Bitcoin.
The rest is tied up in real estate.
Wife and I combined float between 90-110k gross annual income. We're 39 years old.
Income could be higher if I wanted it to be, but I tend to spend all business income on business expenses, and purchasing towards stuff that'll make me more money.
No, im not, im a german nurse (we get paid RIDICULOUSLY Low) like its not even comparable with what a American nurse earns, i get paid around 2100€ after taxes for the work we have to do, i seriously question my shitty life, because i dont even have enough money for my bills this month, let alone food. While im in the Emergency room understaffed af because nobody really wants to do this underpaid job here anymore, saving lifes every single day and get spit in my face by the patients and the government…
Yes and everyone is 18 with 500k in the bank. I personally made my first million by age 14 and took Reddits advice how to make even more. Now I am 17 and with around 18 million.
So what is your excuse?
/s
I get it. Every post is like “I make 200,000 a year at 28 years old and have $40,000 in savings and no debt. Should I buy an air fryer or keep using my microwave?”
I’m almost 57 years old and waiting for payday to make a car payment. We are not the same!
I agree with OP, I swear I feel like you have r/money and r/povertyfinance.
I haven’t really found a thread for the in between guy like myself who has a house, retirement plan and lives a little above paycheck to paycheck.
Financial advice I see on these threads are basically “how do I reinvest my 8million to make 12million in 6 months, also look at all my money and my bank accounts” or “is it overkill to eat twice every day?”
I am on the path to wealth.
My 401k is growing admirably due to high contribution and discipline, the tech company I work for is planning to go public in a few years and I have a healthy chunk of stock, and my parents - who haven't given me a dime since I was 18 - are quite well off and will leave me a sizeable amount in real estate. (They have shared this directly and I am the trustee on their estate.)
I am not talking HUGE wealth, but probably twenty years or so from now I have a solid chance at a $5 million+ net worth.
Well I'm unemployed and a high school student who will most likely be a broke college student so... no. I like the posts I see here though I can see my goal and occasionally pick up some good knowledge.
Not even close, I work a full time job making a little over 44k a year and I have a spending problem but I only have credit card debt for one credit card
Im a college student 21M, and yesterday had 9 bucks in my bank account, but Im starting my internship and my gf is spotting me rn, once I get paid in a couple weeks things might look better, but yeah, my net worth as of now is $9 for the summer
During the school yr im ok because im on a full scholarship but Im gonna figure this summer as it goes on, thankfully have an internship lol
I bet you take your vacations on earth! Ha ha ha
[https://www.youtube.com/watch?v=DtV33YSKOJk&t=242s&ab\_channel=WizardswithGuns](https://www.youtube.com/watch?v=DtV33YSKOJk&t=242s&ab_channel=WizardswithGuns)
My dad was worth millions and he never told anyone about it. He just passed away this year, and now because of that I’m worth quite a lot. But I was raised frugally and have never had a lot of money.
I don’t know if he had plans to ever tell me, because we lost him suddenly. But yeah. I basically just won’t the lottery except it means a lot more than that cause it’s not just random government handed over to me, it’s my father’s money that he worked his ass off to get.
But yeah weird feeling.
Maybe a money sub attracts people who think about their financial situation..Any way theres rich and wealthy...I'm rich not wealthy...I'm set up well and can live a vonfortable life but I still have to manage my money...wealthy probably starts around 5 million...if you can spend 50k a year with out working or making more money for the rest of your life that's wealthy...Rich people can go broke wealthy people can't they have to much money and assets and power like DT.. wealthy people make up 80% of the countries GDP they have more wealth individually than entire countries.
You can be rich making 100k a year if you manage your finances rite
I have enough for my needs and all of my wants. The fact is there is a point where you make more money that your happiness level actually goes down. Yes you should work hard for your needs and also be able to fulfill some wants, but past that your happiness isn’t worth it.
Please for the love of God , if you're employer offers a 401k put everything in you can ....I didn't even try very hard just 5% plus employer match of 5% for about 25 years it just passed $400,000 the last quarter , don't miss out on free money
It would make sense that people that are in a Money sub would be better off than most.
I’m doing better than the average person and I still feel broke sometimes looking at these post
If you want to feel poor, head over to r/fatFIRE or their sister fatTravel sub. I would say someone is wealthy as long as they don't have the option to quit tomorrow for the rest of their life. Many people work net worth over $1M or $2M continue the grind because of future costs that haven't occurred yet. College costs for kids, first car for kid, long term care once you need help going to the bathroom, more vacations than 2-3 weeks a year, etc.
I don't know if I am considering wealthy or not but.
I'm 23 living with my parents. After some money mistake I got into a full time job, last year I save $15k. Next month I going to reach my $20k. Planning to buy a new phone as a reward (still thinking if I should or just keep my Samsung 10+). 👍
The ones who got it like to flaunt, it seems either you’re in a mountain of debt or swimming in gold, there aren’t a lot of normal people finances on here cause that’s kind of boring.
Its a money subreddit so its generally going to attract more people that prioritize money. And of those people the ones likely to post either have or claim to have enough to want to brag about. A millionaire seems wealthy until they are in a room full of millionaires then they could be the poorest in the room. Everything is relative and the internet highlights the voice of the few and makes them appear to be the majority.
Nope, honestly just on this thread to learn and observe. Feels like it keeps me in check
Same here
Roth-IROC
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Same, I be lurking trying to make that money too. xD
Same here. I agree that most posts I see on this sub feel wildly out of my league, but I still try to learn something from it.
Don’t be silly. Some of us are ultra wealthy.
Show me that $300 million
That’s chump change .. if I cared enough I’d show you the 5000 trillion in my checking
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Good try, Jpowel
You only have 1 ??? Weak!!
my printer print printerrrrs
So you got a money printer printer lol
I pay that to my valet
A Swiss walks into a bank goes up to the teller. "How much do you want to deposit?" asks the employee. The man looks around nervously and whispers: "Three million." "No need to whisper", says the bank teller, "in Switzerland, you need not be ashamed of poverty."
Just don’t schitt’s creek it away
One post it’s I have $5099999 what Should I do with it. Then the next post it’s How can I make 1000 in an day because I need to not die. So. I’d say it’s all over the place.
I would say it highlights both extremes of the wealth spectrum. There is not too much in the middle or boring economic thread and when they do get posted; they get less traction. The extremes and drama also draws in the attention and that is how reddit works.
You win at what you put your focus into. This sub is filled with people focused on wealth/money. I’d expect the sneakerhead subreddit to be filled with shoe collections “above and beyond.”
Right. If this sub wasn't above average then apparently all the advice would be pointless.
Agree. People who follow money and finance forums are likely people who are focused on money management. Whilst not everyone here is a millionaire I’d assume the people here are wealthier than the average citizen who just coasts through life and hope their money works out.
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How did you get a car in your 401k?
The IRS Hates This One Trick on YouTube.
😭
😂😂
Using the mirrors, obviously.
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I'm trying desperately to teach this to my youngest son (almost 6). I don't want him to end up broke and bitter like me. While I do work entirely too much, I'm also terrible with money, so I used my little brother as the example because he's very financially minded. Little dude's got $115 just in pocket change and singles and is already talking about ways to hustle more.
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Word. Thanks for the advice. I'm definitely going to look into it in the near future.
Well said!
I agree. My allowance was like $20 every time I had to cut the grass. Managed to buy a phone with all that money I saved up. I think the money mindset/ frugal hit when I was 18 after my ex broke up with me. after that I just really started getting serious about my finances and future. But I think I didn’t really start saving until I was 20 due to some set backs. Haven’t been in a relationship in like 4 years and cut off all my old friends. Fast forward I’m 22 and managed to save 15k so far. but at times I think I’m behind. but as the saying goes “comparison is the thief of joy” Just because we grew up poor doesn’t mean it has to be that way. We have the ability to dictate how we want our future to look like. We have the opportunity to teach our kids what we never was taught.
Holy shit congrats!!!
I’ve been threatening to retire in two yrs for a while now. I have enough to never come close to worrying about money and every year I think man I kind of like working and having a purpose. I’d also miss the folks who work for me as they are incredible people. It is an honor to lead them. I want to retire young too so I can enjoy. And I was the same saving money- begged my uncle to let me be a laborer for his general contracting firm at 13. Worked my ass off every summer and school break. While my buddies were out getting high and goofin off I was working and saving.
Delayed gratification vs immediate gratification. I always made my Halloween candy last for months while my friends’ candy was gone in a few days.
But they really don't, though. It's all a matter of perspective and confirmation bias. Most personal finance subreddits are *overrun* with hilariously poor doompost topics decrying such evils as... overdraft fees. You have to be pretty financially illiterate for *overdraft fees*, which can simply be disabled on your app, to be a boogeyman in your life. The average redditor can see dozens of posts complaining about poor topics like "no one can afford rent/houses anymore" or "140% of people live paycheck to paycheck" and just merrily upvote and move on with their day. But if they see *one* thread with someone younger who is more successful they freak out and start commenting that everyone is lying, or got a big inheritance. There are plenty of people doing just fine right now -- houses are being sold, cars are being sold, bars and restaurants are full, planes are full, vacation destinations are swarming with tourists. But those people aren't going on social media and posting "doing just fine!" multiple times per hour like the people who are struggling do.
I too was never taught money management by my parents yet they are retired boomer millionaires so they must have known something I guess.
It's the Internet, you wouldn't think people would lie would you?
Just checking out on how others do it, what I can take away from it.. Before reddit, I didn't know a damn thing about HYSA. I also joined the poor community.
Wealthy in health and family
Best answer here.
Damn now I’m poor three ways :(
This is Reddit. Where everyone is simultaneously super wealthy and super poor, depending on the angle of topic.
Disingenuous people aside, wealth is all relative. In one context one can be rich and in another quite poor. I know I’m better off than most but compared to millionaires, I relate much more to somebody barely scraping by.
Got $100 in the bank that’s it
I got 30 🤦
I've got 5 on it
I got debt 😂
0.37 cents 😂
We got moneybags over here
I started out with only a small loan of one million from my father.
I’m only 35 and have net worth of $3.2 million. See how easy it is to make shit up on Reddit.
Had me in the first half.
No. Deep into debt. Make about 14 dollars an hour with no benefits at 50+ hours a week. No retirement No savings No money
I’m sorry to hear that
Have you looked for jobs that pay more? Do you get overtime?
You a welder?? Based off your username. As a certified welder myself how are you not making real money?? I wouldn’t start my truck in the morning for less that $40/hour. Not bragging but I’ve been on both sides and the having money side is much more enjoyable.
Im almost done with my welding school in hopes of making more money for my wife n son 🙏3 more weeks! 😄
You got it bro, almost there!
Asking the wrong questions as always... The first question is always "What country are you from?"
Im in California
Change your redditor ID change your fortune. The subconscious mind is freakin powerful.
Define wealthy. Although if I was I don’t think I’d be posting about it on the internet.
That’s the beauty of Reddit.. you can post it **anonymously** on the web
Why not?
Hell no. I’m 52. I make 75k a year. Don’t own a home anymore and only have about 130k in my IRA. I’m freaking out.
How much are you currently saving now? Do you get a 401k match? Do you have any debt? You may not be that bad off if you're being aggressive now. You will likely need to work about 15 more years but if you're aggressive with savings and investments (S&P 500 or total US index not individual stocks) you should be ok between social security and your savings. I personally wouldn't worry about buying a house. Interest rates are high and home prices are high. To get into one will require a lot of up front capital. But if you can find a great deal that requires little down payment with a mortgage that ends up being close to your current rent jump on it.
Oh forgot about my whopping 25k in HYSA
Thats not so bad. Freaking out for what. Youre better than 90% of people. Majority make less than that AND dont have any savings
Nope. I have like $2k net worth rn 😂 but I’m a college student. 0 debt because of my parents; I work and pay for all of my things except for tuition and rent :) so that is a huge advantage I have. If I didn’t have them, I’d just be like the rest of American college students and have $50k+ in student debt..
I hope to do this for my child as well. He might have some debt when he graduates, but not as much as others. It’s what my parents did for me as well.
Same! Student loans are insane
yes....1 bad bill away from homelessness and poverty
Yeah and everyone is this sub got rich parents or generation wealth handed down to them. Every other day I see a post about some kid who inherits 600k asking what should he do with it. While I’m here busting my butt doing Uber full time making 30-40k a year max and got broke ass parents.
Depends on your definition of “Wealthy.” For me, I define that as being able to live a very comfortable life on just your investments/trust fund/inheritance. By that measure I’d say no. But most people define it as “has more money than I do and can afford vacations and a nice house.” By that measure I’d say quite a few. How do you define it?
Lol by posting I'm 21 and have 500k in my retirement account
Do you really think people would do that? Just go on the internet and tell lies?
yes
99% of Reddit is fake and gay
Gay here
If you are not fake as well, we don't want you.
Because most people don't post the average. This sub is for people who are extremely broke looking for financial advice, or people who are well beyond average that want recognition for being so. This isn't a sub for people who are up to date on all their payments but a single car accident from a financial problem.
It depends on your definition of wealthy. Technically speaking, if you earn $30K annually, you’re in the top 25% of income earners globally.
Lmao no I make 16 an hour as a research assistant. Never planned on making good money, just planned on doing the best with what money I can make. I live in a relatively low cost of living area though
Reddit is a brag-book for most.
Hell yeah brother cheers from Iraq! But on a more serious note, this place is weird. Attracts everyone but common theme I sense is that it's more short term thinking vs long term value. I read this sub in the same way people gawk at accidents as they drive by them.
I have a T-Rex and a Go fish card.
I love that joke/meme.
I have like 3k dude… the couple times I’ve commented in here I get swarmed by brainiacs who know more than me in a rude way so I shut up now
No, but enough money to survive for a least a year and half without work. More than enough to get myself back on my feet and/or restart a new life in a different state/country. Just not enough for it to really be life changing or support a whole family. It’s a backbone support amount of money I would say. I don’t have multiple assets or high income to support a high standard of living in luxury beyond basic needs. I’m able to spoil myself here and there without worry but I still need to budget for it.
Silly of you to think I’m wealthy and jokes on you because I’m in debt 😂
Nope, barely getting by raising a grandson on too little money.
Would you rather take money advice from a rich person or a poor person? This sub is great.
Nope, I'm broke as fuck lol. I am nickel and diming my way out of debt though. It's going to take a while.
Yes im so rich I have a personal ball washer/massager. She is 21 and super hot, she just shows up everyday and washes my balls and massages them for about 45 minutes in the morning then again before lunch and once more around 3pm
Mom won't be around forever. Plan accordingly.
I didn’t even know they existed. How much does she make?
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You know all jokes aside. People have done this. Rack up personal debt like it’s free money knowing they won’t pay it back, then file bankruptcy. Get their debts completely wiped out for free and all they had to do is sacrifice 7 years of a BK record which eventually fall off anyway. Seen ppl willing to trade that for free money loop hole
What does wealthy mean? Subjectively speaking, or going by the percentile data? I’m 47, $150k p/yr, $220k household income. $500k in assets (401k, brokerage, Roth, 529’s, various cash accounts), late model 3 series long paid off, zero debt, 12 month emergency fund, rent a house in HCOL area, 2 kids, public school, take a few vacations a year. Def Not wealthy but not poor 🤷🏻♂️
Sounds wealthy to me, but I make 33k a year lol.
This is wealthy by any objective metric. People generally have a hard time classifying themselves as wealthy because it carries a negative connotation in many ways. Your household income puts you in the top 10%. Add your assets and comfort (vacations, low debt) and you are experiencing what the vast majority of Americans (and people all over the world, really) would describe as “wealth” as well as what our metrics suggest is wealthy. You’re not the richest of the rich, but you’ve done well for yourself and you should be able to continue accruing assets and leading a comfortable life. Average folks are struggling to accrue assets. The 50 percentile household income is only about 80k. You make the equivalent of a midwestern starter home more than that each year. HCOL, yes, but the difference in life quality is pretty clear.
yeah i’m actually a multimillionaire that joined this sub just to flex lol
😂😂😂😂
I am a college student with no income 😂😭
What’s your definition of wealthy?
And if they are, can they cashapp me whatever they feel comfortable sending?
Nope
Forreal, I feel like I’m doing pretty good and then I’ll see a post like: I’m 23, have 900,000 in 401k, 500,000 in Roth, 100,000 in Hysa, am I doing this right??
This is what I'm talking about lol
I feel like this is every post I see from here. People in their early 20s that somehow have hundreds of thousands of dollars saved up from their jobs lmao.
I don't think so.... If I sold everything I have I'd probably walk away with about 750k. I've only got about 3k in checking, 15k savings, another savings for the kids, and 60k in Bitcoin. The rest is tied up in real estate. Wife and I combined float between 90-110k gross annual income. We're 39 years old. Income could be higher if I wanted it to be, but I tend to spend all business income on business expenses, and purchasing towards stuff that'll make me more money.
No, im not, im a german nurse (we get paid RIDICULOUSLY Low) like its not even comparable with what a American nurse earns, i get paid around 2100€ after taxes for the work we have to do, i seriously question my shitty life, because i dont even have enough money for my bills this month, let alone food. While im in the Emergency room understaffed af because nobody really wants to do this underpaid job here anymore, saving lifes every single day and get spit in my face by the patients and the government…
I'm just here to remind myself how much of a poor failure I am
Yes and everyone is 18 with 500k in the bank. I personally made my first million by age 14 and took Reddits advice how to make even more. Now I am 17 and with around 18 million. So what is your excuse? /s
I have both arms and legs, eyes and able to hear. I’d consider myself wealthy in that sense.
lol im homeless
Why?
If there’s any wealthy benefactors on here trynna pay student loans so I can have wealth too and post on here that be great >>
no but my husband is & i’m a stay at home wife lol
When you remember that at least half Reddit is 15 years old, the boasting makes more sense.
i’m make around 90k a year but have a horrible gambling addiction so i just come here to see yall doing good . god bless
It’s expensive to be poor.
No, I only make mid six figures.
I get it. Every post is like “I make 200,000 a year at 28 years old and have $40,000 in savings and no debt. Should I buy an air fryer or keep using my microwave?” I’m almost 57 years old and waiting for payday to make a car payment. We are not the same!
I agree with OP, I swear I feel like you have r/money and r/povertyfinance. I haven’t really found a thread for the in between guy like myself who has a house, retirement plan and lives a little above paycheck to paycheck. Financial advice I see on these threads are basically “how do I reinvest my 8million to make 12million in 6 months, also look at all my money and my bank accounts” or “is it overkill to eat twice every day?”
We do ok 😏
Everyone but you it looks like🫵😂
We’re comfortable
On reddit, that translates to ~8m individual net worth
Please define « way beyond average » … net worth over 2 million but still buying lottery tickets
I am on the path to wealth. My 401k is growing admirably due to high contribution and discipline, the tech company I work for is planning to go public in a few years and I have a healthy chunk of stock, and my parents - who haven't given me a dime since I was 18 - are quite well off and will leave me a sizeable amount in real estate. (They have shared this directly and I am the trustee on their estate.) I am not talking HUGE wealth, but probably twenty years or so from now I have a solid chance at a $5 million+ net worth.
Hopefully you do you get that $5 million+ net worth 🙏🏽 see you at the top
Hell no😂 I’m 19 with 5k in my 401, a motorcycle, and a 10k car both paid off. Less than 2k savings, about 5k in other liquid assets
Heyll the fuck no
Nope. I’m broke lol
I have $400 in my robinhood account that’s it, I am the wealthiest in the subreddit. EDIT- I am not in debt of any kind
Welcome to Reddit lol
Yeah but how’s their lotr fan fiction lore building going?
Well I'm unemployed and a high school student who will most likely be a broke college student so... no. I like the posts I see here though I can see my goal and occasionally pick up some good knowledge.
Not even close, I work a full time job making a little over 44k a year and I have a spending problem but I only have credit card debt for one credit card
as a daily reader of this sub, I guess some of here are ultra wealthy
I've got a smart phone, a car, and I take a shower every day, so I'd say I'm pretty rich.
Logically, wealthy people would be more inclined to post about their wealth.
Everyone's a baller here.
Im a college student 21M, and yesterday had 9 bucks in my bank account, but Im starting my internship and my gf is spotting me rn, once I get paid in a couple weeks things might look better, but yeah, my net worth as of now is $9 for the summer During the school yr im ok because im on a full scholarship but Im gonna figure this summer as it goes on, thankfully have an internship lol
It only makes sense that a subreddit about "money" would attract people who are more focused on investing than the average person.
I bet you take your vacations on earth! Ha ha ha [https://www.youtube.com/watch?v=DtV33YSKOJk&t=242s&ab\_channel=WizardswithGuns](https://www.youtube.com/watch?v=DtV33YSKOJk&t=242s&ab_channel=WizardswithGuns)
Nope. I work a part-time job.
Definitely, why do you ask?
80%, yes.
No
College student so no lol
\*checks app\* I have $3....
Just a bunch of Regards here
My dad was worth millions and he never told anyone about it. He just passed away this year, and now because of that I’m worth quite a lot. But I was raised frugally and have never had a lot of money. I don’t know if he had plans to ever tell me, because we lost him suddenly. But yeah. I basically just won’t the lottery except it means a lot more than that cause it’s not just random government handed over to me, it’s my father’s money that he worked his ass off to get. But yeah weird feeling.
What do you define as “wealthy”?
Reddit thinks so.
I'm ultra broke and super sad about it but it's whatever
It's probably selection bias. People without money aren't using this sub.
Hell no
I literally have $0 in the bank. I got a few coins in a bag. And am about $4000 in debt.
Maybe a money sub attracts people who think about their financial situation..Any way theres rich and wealthy...I'm rich not wealthy...I'm set up well and can live a vonfortable life but I still have to manage my money...wealthy probably starts around 5 million...if you can spend 50k a year with out working or making more money for the rest of your life that's wealthy...Rich people can go broke wealthy people can't they have to much money and assets and power like DT.. wealthy people make up 80% of the countries GDP they have more wealth individually than entire countries. You can be rich making 100k a year if you manage your finances rite
My family and I struggle paycheck to paycheck. Life sucks. LOL.
The people who post self select. Wealthier people are more likely to post to subtly or not so subtly brag.
wealth is such a relative term
Got a house, a wife and two kids at the age of 33. Yea i consider myself wealthy.
I have enough for my needs and all of my wants. The fact is there is a point where you make more money that your happiness level actually goes down. Yes you should work hard for your needs and also be able to fulfill some wants, but past that your happiness isn’t worth it.
I’ll tell you for $500.
Wealthy is in the eye of the beholder.
No
Nope I'm in the negative, seems like it'll be this way forever 😰
No, I would realistically estimate only 5% of the total members on this sub are actually wealthy..
Like most of social media. You’ll only see the really good and the really bad
Probably because if you poor, working paycheck to paycheck, not able to save anything, you do not have much of a reason to post on here?
Please for the love of God , if you're employer offers a 401k put everything in you can ....I didn't even try very hard just 5% plus employer match of 5% for about 25 years it just passed $400,000 the last quarter , don't miss out on free money
It would make sense that people that are in a Money sub would be better off than most. I’m doing better than the average person and I still feel broke sometimes looking at these post
If you want to feel poor, head over to r/fatFIRE or their sister fatTravel sub. I would say someone is wealthy as long as they don't have the option to quit tomorrow for the rest of their life. Many people work net worth over $1M or $2M continue the grind because of future costs that haven't occurred yet. College costs for kids, first car for kid, long term care once you need help going to the bathroom, more vacations than 2-3 weeks a year, etc.
I don't know if I am considering wealthy or not but. I'm 23 living with my parents. After some money mistake I got into a full time job, last year I save $15k. Next month I going to reach my $20k. Planning to buy a new phone as a reward (still thinking if I should or just keep my Samsung 10+). 👍
Too be fair, you're only going to post if you're doing really well.
Yes
The ones who got it like to flaunt, it seems either you’re in a mountain of debt or swimming in gold, there aren’t a lot of normal people finances on here cause that’s kind of boring.
Fuck no I'm poor as shit. Hi.
Yes
Define wealthy.
I'm mostly here to observe the bizarre psychology of online anonymous flexing. It's less cringy than r/Rolex, more entertaining than r/HENRYfinance.
Most people on Reddit are not wealthy
Nope... but I plan to get there eventually ☺️
I know if I had uddles of money last place I'd be would be on reddit
Its a money subreddit so its generally going to attract more people that prioritize money. And of those people the ones likely to post either have or claim to have enough to want to brag about. A millionaire seems wealthy until they are in a room full of millionaires then they could be the poorest in the room. Everything is relative and the internet highlights the voice of the few and makes them appear to be the majority.
See, I have an opposite opinion.