Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Passive Income for the Well Heeled
Old 09-24-2019, 10:30 AM   #1
Thinks s/he gets paid by the post
 
Join Date: Jun 2016
Posts: 3,364
Passive Income for the Well Heeled

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
__________________

COcheesehead is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 09-24-2019, 10:38 AM   #2
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
calmloki's Avatar
 
Join Date: Jan 2007
Location: Independence
Posts: 6,173
R>G
Thomas Piketty
got the t-shirt
__________________

__________________
"Be kind whenever possible. It is always possible." Dalai Lama
calmloki is online now   Reply With Quote
Old 09-24-2019, 11:07 AM   #3
Thinks s/he gets paid by the post
Sojourner's Avatar
 
Join Date: Jan 2012
Posts: 1,147
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.
Sojourner is offline   Reply With Quote
Old 09-24-2019, 11:16 AM   #4
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
audreyh1's Avatar
 
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 23,878
Well heeled?
__________________
Retired since summer 1999.
audreyh1 is online now   Reply With Quote
Old 09-24-2019, 11:20 AM   #5
Thinks s/he gets paid by the post
 
Join Date: Jun 2016
Posts: 3,364
Quote:
Originally Posted by audreyh1 View Post
Well heeled?
LOL. What's a day without me misspelling something. Thanks for catching that.
COcheesehead is offline   Reply With Quote
Old 09-24-2019, 11:23 AM   #6
Thinks s/he gets paid by the post
 
Join Date: Jun 2016
Posts: 3,364
Quote:
Originally Posted by Sojourner View Post
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.
COcheesehead is offline   Reply With Quote
Old 09-24-2019, 12:05 PM   #7
Thinks s/he gets paid by the post
 
Join Date: Aug 2013
Location: North
Posts: 2,542
How many of these are bloggers/vlogger lol!

Wait, running a blog isn't passive?
__________________
AA (Stock/Bond/Cash ): 97.5/0/2.5% MIX (Small/Mid/Large): 25/25/50% BLEND(US/Foreign): 100/0%, REIT (Real Estate Equity): ~50% of Assets

FIRE in 2031 @ 50yrs old (+/- 2yrs) w/ a hypothetical $2.5mil portfolio, 3 appreciated homes worth $1.0mil and rental income to fund my gap years until RMD. Assets will go to an inherited IRA where I plan on watching the investments grow until I die or the trust gets executed.
kgtest is offline   Reply With Quote
Old 09-24-2019, 12:13 PM   #8
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
calmloki's Avatar
 
Join Date: Jan 2007
Location: Independence
Posts: 6,173
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.
__________________
"Be kind whenever possible. It is always possible." Dalai Lama
calmloki is online now   Reply With Quote
Old 09-24-2019, 12:21 PM   #9
Thinks s/he gets paid by the post
 
Join Date: Jun 2016
Posts: 3,364
Quote:
Originally Posted by kgtest View Post
How many of these are bloggers/vlogger lol!

Wait, running a blog isn't passive?
I think they are all eBay sellers.
COcheesehead is offline   Reply With Quote
Old 09-24-2019, 12:59 PM   #10
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Mar 2011
Posts: 6,161
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?
__________________
Living well is the best revenge!
Retired @ 52 in 2005
marko is offline   Reply With Quote
Old 09-24-2019, 02:29 PM   #11
Recycles dryer sheets
Kwirk's Avatar
 
Join Date: Mar 2006
Posts: 324
Averages or medians? Averages can be badly skewed by a small number of very wealthy individuals.
__________________

Kwirk is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Well [water], well, well...What to do? [LONG] Amethyst Other topics 23 09-21-2016 08:48 AM
young medically DAV Retired 40 yo w/passive income. MuzikLvr Hi, I am... 3 03-09-2012 03:45 PM
Does passive income = Retirement Income? Bree Young Dreamers 14 05-07-2008 09:53 AM
Passive income and SRW starry night FIRE and Money 1 03-06-2006 01:02 PM
payroll taxes on investment/passive income? Berkshire_Bull Other topics 1 11-26-2004 08:50 AM

» Quick Links

 
All times are GMT -6. The time now is 09:54 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2020, vBulletin Solutions, Inc.
×