Passive Income for the Well Heeled

[COcheesehead]

This info was posted on another financial forum I frequent. I thought it was interesting and you can use it for comparison or not, to your own situation.

In a Bloomberg Businessweek article on 3/19/2017, there was a picture of 29 cities in US that showed the well-to-do collected passive income from interest, dividends, and net rents more on average than the average total household income in their state and the nation.

California: 8 cities $126,000
Park City, UT $99,000
Cherry Hills Village, CO $140,000
Aspen, CO $95,000
Paradise Valley, AZ $101,000
Lake Forest, ILL $100,000
Winnetka, ILL $81,000
Ladue, MO $99,000
Highland Park, TX $106,000
The Village of Indian Hill, OH $88,000
Bronsville, NY $93,000
Scarsdale, NY $87,000
Florida: 10 cities $108,000

 

[calmloki]

R>G
Thomas Piketty
got the t-shirt

 

[Sojourner]

Hmm... Interesting on some level, I suppose, but not sure this info is of any real significance to me. Kind of like knowing that certain people (e.g. some Silicon Valley entrepreneurs or Wall Street bankers) earn more in one month (or even one week!) than the median U.S. household earns in a year.

If the only point is that there is a striking level of income inequality, that's old news. Personally, I don't feel guilty that my passive income is roughly on par with the median household income in some states. If it weren't, I would still be working and not FIRE'd.

 

[audreyh1]

Well heeled?

 

[COcheesehead]

Well heeled?

LOL. What's a day without me misspelling something. Thanks for catching that.

 

[COcheesehead]

Hmm... Interesting on some level, I suppose, but not sure this info is of any real significance to me. Kind of like knowing that certain people (e.g. some Silicon Valley entrepreneurs or Wall Street bankers) earn more in one month (or even one week!) than the median U.S. household earns in a year.

If the only point is that there is a striking level of income inequality, that's old news. Personally, I don't feel guilty that my passive income is roughly on par with the median household income in some states. If it weren't, I would still be working and not FIRE'd.

My intent wasn't income inequality though some have taken it in that direction. I posted it as a point of comparison to your own situation and stated that in my OP. Many post on here about living off dividends. So here are some data points to compare to...or not.

 

[kgtest]

How many of these are bloggers/vlogger lol!

Wait, running a blog isn't passive?

 

[calmloki]

Our income comes from rent, interest, dividends (I guess - it just stays somewhere with Vanguard) and social security (mine pays for the cat's food and not much else). Rent and interest are our big dogs and do keep us both above the Oregon or California median income.

 

[COcheesehead]

How many of these are bloggers/vlogger lol!

Wait, running a blog isn't passive?

I think they are all eBay sellers.

 

[marko]

Well, if those numbers are annual income, I'm quite a bit over those numbers in an average year.
Or does the article mean this amount is OVER the annual average?

 

[Kwirk]

Averages or medians? Averages can be badly skewed by a small number of very wealthy individuals.