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Old 06-08-2014, 03:46 PM   #21
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It's one thing to help a person who is down and out through not fault of his own. It's another to subsidize a person's past high standard of living.
I have a real problem with that too.

Wonder where they get these numbers from? If I put in the raw numbers for our assets for the two of us it spits out 85. If I use the pension income to (very roughly) estimate a number that it would take to generate, we're at 99. Sadly, I'm quite certain we are not in the 1%.
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Old 06-08-2014, 03:55 PM   #22
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Forgot about this one too:

Global Rich List

I removed it from my bookmarks because I do not want to focus myself on what other people have or haven't done.
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Old 06-10-2014, 11:45 AM   #23
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+1

People I knew who drove sports cars, frequented happy hour after work, ate breakfast out often, etc. may now be poorer than I, but, am I not also poorer than them in that I did not get to experience these pleasures during my younger days?
Here is another way of looking at it. In the late 70s, early 80s, I bought personal computers. Something I was interested in. My first one was $1400, my second system a couple years later was $3400. If I had put the money into Apple stock instead of buying the computers, it would be worth somewhere around $900,000.

Woulda Coulda Shoulda.

The challenge with looking backwards is that you have the opportunity to cherry pick the alternatives. I have had chance meetings with folks in obscure places that came back several years later to present a business opportunity which was very beneficial. Time spent socializing or playing golf may be what put a few of today's high-roller business folks in the position to climb the ladder.

I know folks that have wasted their money, (my opinion), but have lots of pictures on the walls. I also know folks that have pinched every nickle and saved and invested. And now they can't let go of it to slow down, retire, and enjoy things. But, that is their choice.

How much is enough. That is a very personal question that many will struggle with.

97%, 2 people. Depending on how the auction sale goes...

Retired MegaCorp. Working at a University and farming. Love my job(s).
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Old 06-10-2014, 12:14 PM   #24
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2% counting net present value of pensions for 2 of us, not counting any non-RE possessions.
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Old 06-10-2014, 12:27 PM   #25
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99th percentile for one person. No pensions to count.
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Old 06-10-2014, 12:29 PM   #26
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83% for family of 5.
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Old 06-10-2014, 12:33 PM   #27
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I do not know if the family count beyond 2 is meaningful, as your children do not have a claim on your assets. Not while you are still alive anyway.

And even when a spouse is counted, does it make a difference if he/she is frugal (like my wife) and spends less than you do?
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Old 06-10-2014, 12:38 PM   #28
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I guess I'm a slacker. Only 94%.
But I have 2 kids underfoot - they may think they own a quarter of the assets - but I know they don't.
(I'll concede the 529's to them, though. LOL)

I forgot to factor in the piddly small pension(s) I have. I doubt it would bump up my percentage by much.
(Less than $500/month starting in 2 years., non COLA.)
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Old 06-10-2014, 12:52 PM   #29
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98%, household of one. And I am far from wealthy.
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Old 06-10-2014, 02:01 PM   #30
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Interesting, we are at 93%.......I was supposed to include my pension too!!!!!!!!

May change as I've got two in high school so haven't gotten to college funding yet.
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Old 06-10-2014, 02:15 PM   #31
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Not counting pension = 94
Including pension (annual amount *30) = 97
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Old 06-11-2014, 11:31 AM   #32
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This made me think - 1% of the U.S. population is still a pretty big number, which probably contains a large percentage of "achievers" who are motivated, in part, by comparing themselves with others

If people who barely scratch their way into the 1% compare themselves with the "REAL money" in the .1% and .01%, they might not feel too rich. Imagine how the (let's say) 65th percentile see them, though...

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I
Wonder where they get these numbers from? If I put in the raw numbers for our assets for the two of us it spits out 85. If I use the pension income to (very roughly) estimate a number that it would take to generate, we're at 99. Sadly, I'm quite certain we are not in the 1%.
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Old 06-11-2014, 11:59 AM   #33
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Always so confusing... Count Pension?
Don't count Social Security?
DW and I have already collected $350+K in SS since retirement.

And then... age... Different with 10 years to go vs 25 yrs....
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Old 06-11-2014, 11:59 AM   #34
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I am at 97% without including my pension. Including an estimate of my pension (*25) I am at 99%. I surely don't think I am anywhere near being in the 1% and how could I continue to poke fun at that category if I was a part of it.
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Old 06-11-2014, 01:03 PM   #35
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Always so confusing... Count Pension?
Don't count Social Security?
DW and I have already collected $350+K in SS since retirement.

And then... age... Different with 10 years to go vs 25 yrs....
+1. SS, especially for two, can be pretty significant in terms of present value. Relative wealth also depends on many factors. A million in savings will go a lot father in Appalachia than Manhattan, and last a lot longer if you retire at 90 instead of 22.
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Old 06-11-2014, 01:12 PM   #36
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93% for me. Didn't bother to include my pension. My neighbors would die of shock if they knew! To them, I'm just a poor slob who spends the day walking a dog!
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Old 06-11-2014, 01:25 PM   #37
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Household of 2, 96% without pensions, 98% with them (not counting SS). The pension factor (divide by 0.037 as suggested in an earlier post) effectively doubles our financial assets.
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Old 06-11-2014, 01:36 PM   #38
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I am getting more curious about what SS we will be getting. I need to get off my butt and go figure that out.

Will the knowledge change how I live? Probably very little, but it might give me a warm and fuzzy feeling, and that's a good thing.
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Old 06-11-2014, 03:41 PM   #39
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80% with family of four. Don't know why I'd count the two kids, though. They can go earn their own fortune.

88% if just the husband/wife.

Hopefully by the time I hit retirement age, I'll have moved up the scale a bit more.
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Old 06-11-2014, 05:06 PM   #40
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Upon the results placing me at the top, ha, I decided to start clicking to look around:

This site is a private initiative of Maximilian Kasy, Department of Economics, Harvard University. (Appears to be decent credentials)

Nobody from the team is affiliated with a political party or lobby group. We would be happy, however, if the site could contribute to current political debates! (Pure as the driven snow, got it)

Motivation
The purpose of this website is to contribute to an informed debate about the distribution of wealth and wealth taxes. This website provides answers to the following questions:
1) How unequal is the distribution of wealth in the US and in the countries of the Eurozone? (Eurozone data was included?)

Although the app purports to be all about the US?
WHAT IS YOUR ESTIMATE OF YOUR POSITION IN THE US DISTRIBUTION OF WEALTH?
______________________________________________

2.75 million = 1%er at Wealthometer, nope last time I checked decamillionaire was the entry point to join the 1%.

That does not include Social security, neither does Wealthometer, private pensions do count though. My yearly withdraw amount is middle class at best.

Bell curve makes sense, if the shape changes to a wave, stand by.
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