[Menace]

I personally know, and am friends with, someone who has more than $700K/year in income (pre-tax of course). He can afford better toys, and to landscape and construct his house as he likes, e.g. custom made wrought iron stair case handrails. I can't say that his life is proportionately better than mine. I know someone who buys $50,000 rugs without too much thought. She's a bit nutty, but also not rich. She's in the 1%.

Mike, if the point you're making that even 1% is way above what most ordinary people can ever hope to make and is a lot of money, then yes, I agree. But I am not using ordinary people as a standard.

[Drazen]

regarding food: the difference between the 1% and the .1% is that the .1% had staff making their meals. 1%ers don't have the disposable income to pay someone $60-80k a year to cook their meals for them. for the .1%ers their time is more valuable than that, and generally these cooks are pretty healthy (unless specifically told not to be). I don't think this article or the point is between the 1% and the .1%. I'm thinking more its people who are making comfortable six figure salaries versus people who are living paycheck to paycheck.

[bacan]

Nice thread.. Need to add a few more of these to The routine

[TheKantian]

(07-25-2013 02:38 PM)wiscanada Wrote:  

WIC's Equivalent in Canada is very limited but WIC in the USA is a gravy train. In 2012 I had the good fortune to go grocery shopping with a mother and daughter who were on USA WIC. They had $300 plus to spend a month from this program and ate very well. Steak, organic everything and they still had a tough time burning it up every month. They were also the kind of people that were not on it permanently.

There's no reason to eat shit on WIC except personal choice.

Highly doubt she's buying steaks. They are usually given checks for specific things. Not to mention groceries stores will not allow certain things to be rung up under WIC because they can get disqualified and fined from the programs if they allow abuse.

[Cattle Rustler]

(07-25-2013 02:38 PM)wiscanada Wrote:  

WIC's Equivalent in Canada is very limited but WIC in the USA is a gravy train. In 2012 I had the good fortune to go grocery shopping with a mother and daughter who were on USA WIC. They had $300 plus to spend a month from this program and ate very well. Steak, organic everything and they still had a tough time burning it up every month. They were also the kind of people that were not on it permanently.

There's no reason to eat shit on WIC except personal choice.

I don't know about organic chicken, that's a luxury product. But the type of fraud that goes in WIC/food stamps is rampant. If the person does not spend all of the money then it get's cut off.

In Texas you get $400 a month, and many people sell their credits at half price. A normal folk might get $200 dollars of groceries for $100.

[roberto]

(07-25-2013 09:21 PM)bacan Wrote:  

Nice thread.. Need to add a few more of these to The routine

Indeed. Props to the OP for sharing. It's threads like these which motivate and inspire me.

I have a little Word document full of snippets mainly from this forum. Quotes from history, or quotes from posters on here, if it rings a bell then it goes in, and I review it every day or so.

[All or Nothing]

(07-25-2013 01:10 AM)MikeCF Wrote:  

LOL at 1% "ain't shit."

Some of you little boys really need to get out more in real life and stop pretending to be ballers online:

Quote:

The Times had estimated the threshold for being in the top 1 percent in household income at about $380,000, 7.5 times median household income, using census data from 2008 through 2010. But for net worth, the 1 percent threshold for net worth in the Fed data was nearly $8.4 million, or 69 times the median household’s net holdings of $121,000.

Some readers wondered if the 1 percent by wealth weren’t an entirely different group of people from the 1 percent by income. But there is substantial overlap: the Fed data suggests that about half of the top 1 percent of earners are also among the top 1 percent in the net worth category.

Of course if you're earning 400K a year or worth more than 8.4 million, by all means, "Drop a data sheet."

I am taking an internship this summer that puts me into mid/upper level corporate world at a large international company, and I have met a couple of guys that fall into the 1% in terms of how much money they make.

They are totally different from the vast majority of people you meet face to face. I consider these guys some of truest "alphas" I have met since they needed silver tongues and confidence in order to break into the upper levels of the company I am at.

Was thinking about writing something up about it. Probably will post something a couple days from now.

[le prince perdu]

In Gabon, poor people have a special breakfast, it is called "cafe misère"
translated misery coffee.

Ingredients:
-One hot cup of water (free)
-sugar (25 cents)
-harden baguette of bread (yesterday's bread) (25 cents)
total cost 50 cents

some people might have more money and buy coffee/milk (50cents)
total cost: $1




lunch is slightly better:

-a can of sardine (75 cents)
http://www.espaceagro.com/_AFFAIRE/100295.jpg

-stick of manioc ($1)

That thing doesn't taste like anything,





good luck finding a cheeseburger in there.

while at the same time the middle/rich class are building houses like this:



and eating all sorts of mixed french/africans high end cuisine.





So the poor live on less than $5 a day, you take some of these people and throw them in an american ghetto,
give them food stamp, a $400 montlhy income( fast food),
super markets in which you can buy a $10 beef pack and it will last you for a week and they will think they have made it.

Most teenagers from the slums don't even stand a chance at becoming wealthy.

hell if it wasn't for the beautiful beach and the fertile ground, there would have been a revolt a long time ago.





Man I love the beach.

this the kind of place where you really feel lucky tho have been born in the right social circle.

[Vaun]

The individual has been crushed. Through tax dollars we incentivize people to live this way. The children in these scenarios are taught their entire lives to just stick their hands out and expect payment for the mere fact of just being alive and living in america. Food choices are irrelevant, if your fundamental world view relies on being taken care of in the most basic ways by the government, how can a person like this have the inner capability of making responsible choices, or even the ability to see themselves as an individual that makes their own decisions. We have effectively neutered an entire majority of this country from believing that by relying on themselves, and putting in serious effort, they will have a better life. Pride and self respect are non-existent. This my friends is the goal of the state, and I would say they have succeeded.

[_DC_]

Making the top 1% is different for individuals the household. Its $193,307 for individuals from 2010 data, so maybe a few grand more now.

I believe this is all income, not just salary, so its seems relatively attainable with a six-figure job and supplemental investment income.

http://whatsmypercent.com/

[germanico]

(07-24-2013 11:54 AM)thedude3737 Wrote:  

Most of these households didn't even have a cutting board or a knife. Cooking was unheard of. Their version of cooking was putting some frozen seasoned fries on a tray and throwing it in the oven. Or nuking a few hot pockets.

Growing up, mine was the only house in the block that had books in it.

[germanico]

(07-24-2013 07:49 PM)LeBeau Wrote:  

The wealthy would especially benefit, since they pay a larger share in taxes to support other people's liabilities.

Haha, rich people dont pay taxes.

[worldwidetraveler]

(07-30-2013 12:46 AM)germanico Wrote:  

(07-24-2013 07:49 PM)LeBeau Wrote:  

The wealthy would especially benefit, since they pay a larger share in taxes to support other people's liabilities.

Haha, rich people dont pay taxes.

The wealthy pay 70 percent of taxes

http://www.washingtontimes.com/news/2012...are-taxes/

[PoosyWrecker]

(07-30-2013 12:46 AM)germanico Wrote:  

(07-24-2013 07:49 PM)LeBeau Wrote:  

The wealthy would especially benefit, since they pay a larger share in taxes to support other people's liabilities.

Haha, rich people dont pay taxes.

How do they do this in the USA?

[Bad Hussar]

Here's Jamie Olivers take on the whole "poor" people can only afford poor food debate. seems to echo what a lot of us are saying here.

http://news.uk.msn.com/uk/oliver-queries...-poverty-1

Quote:

Most of the poorest families in Britain do not know how to feed themselves properly and choose expensive rather than cheap options, TV chef Jamie Oliver has said.

The star, 38, who has an estimated fortune of £150 million, said that he finds it "hard to talk about modern-day poverty".

He cited a family he met while making one of his previous TV shows who ate unhealthy, fast food but had splashed out on a huge TV. Oliver said that poor communities in other countries had a better grasp of good food.

He told the Radio Times: "Some of the most inspirational food in the world comes from areas where people are financially challenged. The flavour comes from a cheap cut of meat, or something that's slow-cooked, or an amazing texture's been made out of leftover stale bread."

[roberto]

Plebs are gonna be plebs....

[Beyond Borders]

I created a simplified version of the list for those who accept these are good habits to incorporate into your life - all the percentages are a bit distracting, as are the kid points for those of us who are bachelors:

Don't Eat Junk Food.
Stay Focused on a Single Main Goal.
Don't Gamble.
Exercise Aerobically 4+ Days a Week
Listen to Audio Books to Pass Idle Time (Esp. When Driving).
Maintain a To-do List
Volunteer
Make Happy-Birthday Calls
Write Down Your Goals
Read Educational or Career-Related Books (30+ Minutes Daily)
Know When to Hold Your Tongue
Network 5+ Hours Per Month
Don't Watch TV (1 Hour/Day at the Absolute Max!)
Wake Up 3 Hours Before Work Starts
Love to Read

[Don Juan Tenorio]

I don't understand how easy some people label others as "rich". Rich is a person who doesn't need to work for a living, yet if he works he can afford to stop working without compromising his lifestyle, if not, no matter what car he drives or how big his house is.

I just love how the topic has diverted to food and gastronomy because taking a glipse at people's fridge, larder or trolley tells you so much about them. Sometimes it's not so much about money as about lazyness. So many parents don't give their kids any fish just because they have bones and it's not comfortable to eat, or they just give them scrap fish in the shape of fish sticks. It's faster to open a can of pop than drinking herbal teas (which are by far the cheapest drink available after water) or to microwave something instead of devoting some time to prepare and cook the ingredients. Any stew would make a cheap, nutricious and delicious meal. You have no time for cooking during the week? no problem... during the weekend you can cook your slow food, it takes longer but you don't need to be over it all the time: read, do exercise, watch Breaking Bad... whatever. It will just take you a few minutes to enjoy them during next week. Why not cooking pizza instead of ordering it? You can prepare a lot of dough, freeze so next time you fancy one it will be just cheaper and take less time than ordering it.

How about free food? There is so much stuff waiting to be glean: mushrooms, wild fruits (figs, prickle pears, palm dates, berries, oranges), sneals, fish, crabs, clams. Don't know in the USA, in Europe after the crops farmers let people go in their land and collect the leftovers. It's also useful to make friends with a farmer, no matter how high prices are they're paid little and they'll be more than happy to sell directly to you, win win. As a teenager I made friends with an old beekeeper whom I helped for free during the weekends in exchanged I learnt a lot at no cost and got kilos of free honey. How about giving some use to those huge gardens available in suburban America? Even in living hells like the city of Detroit poor people has started to farm around their houses.

I cannot accept the term modern day poor or comparing this:



with this:



Both are disgraces for human being as a whole, however the child in the second picture is innocent while those in the first pic are to blame.

[Bad Hussar]

(08-28-2013 01:08 PM)Don Juan Tenorio Wrote:  

I don't understand how easy some people label others as "rich". Rich is a person who doesn't need to work for a living, yet if he works he can afford to stop working without compromising his lifestyle, if not, no matter what car he drives or how big his house is.

...

I guess that everyone has their own idea of what "rich" means. For me someone is on the edge of being rich if their net asset value, excluding real estate they live in, is 20x the value of the house they live in. So if someone lives in a house worth $750,000 I'd only say he's rich if he has other assets(less liabilities - i.e. debts- obviously) worth $15 million. That kind of value wold give you a reasonable chance to live your life without working directly,manage your assets, and not run too much risk of reducing your capital over the long term.

[samsamsam]

(08-28-2013 10:48 AM)Beyond Borders Wrote:  

I created a simplified version of the list for those who accept these are good habits to incorporate into your life - all the percentages are a bit distracting, as are the kid points for those of us who are bachelors:

Don't Eat Junk Food.
Stay Focused on a Single Main Goal.
Don't Gamble.
Exercise Aerobically 4+ Days a Week
Listen to Audio Books to Pass Idle Time (Esp. When Driving).
Maintain a To-do List
Volunteer
Make Happy-Birthday Calls
Write Down Your Goals
Read Educational or Career-Related Books (30+ Minutes Daily)
Know When to Hold Your Tongue
Network 5+ Hours Per Month
Don't Watch TV (1 Hour/Day at the Absolute Max!)
Wake Up 3 Hours Before Work Starts
Love to Read

Knowing when to hold your tongue is one of the most important fucking things in life to learn. Sadly, it is one of the least respected and practiced things.

Rant On

A guy owes me a lot of money and the other day he had to mouth off. Just couldn't stfu. So now I am going to lay the hurt on him. I get that he was stressed but you don't bite the hand that feeds you. I am probably the most understanding guy you will ever meet. The problem is I am trusting (testing) you to know better, I don't wanna have to set all the rules and boss your ass. I am trying to figure out how solid you are and if you are worth having around in the long run. But most people assume it means I am a pushover, rather than thinking "wow this guy is really supportive, smart and resourced I should make sure not to fuck up this relationship."

So since I am on a tangent - I am going to share one of my favorite tricks. When you enter a situation, let the other guy feel like he is in control, he has the power. Then you will see what is in his heart. Sure I take a few lumps here and there, but when you meet solid people to be with friends with, it is worth it. And it is better to find out who the assholes are sooner than later.

Everyone thinks their opinion matters - but the reality is none of our opinions matter. Your opinion should matter to yourself. But when you go trying to lay your opinion on someone else (in other words not holding your tongue) they form an opinion of you, and they may not want to have any more to do with you. In my life, it has mainly been people wanting stuff from me - usually money. And I have learned over time, the one thing I hate most are guys whose egos are not backed by pedigree (i.e. resume/accomplishments) or substance (heart, decency, honesty).

My parents are self made. No education. But they worked hard and saved. They have accomplished things in life. But humble.

A lot of people are far from humble and far from accomplished, but they can't stfu.

Be different than the rest and know when to stfu. You will stand out.

I am going to stfu now.

Rant off.

[Beyond Borders]

(07-23-2013 02:01 PM)Beyond Borders Wrote:  

(07-23-2013 01:09 PM)Divorco Wrote:  

11. 6% of wealthy say what’s on their mind vs. 69% for poor.

Great list. A lot of this seemed pretty self-explanatory, mostly due to all the self-help and success literature I've read, but this one in particular really grabbed me. Tact, or knowing when to keep your opinion to yourself, may very well be an underrated quality. I come from a trailer-park background and know a lot of poor people who just don't know when to shut the fuck up, and thinking back it seems to be one of their biggest problem-causers in adulthood.

Reading 48 Laws of Power is bringing this even further into perspective for me.