• Due to a glitch in the old vBulletin software, some users were "banned" when they tried to change their passwords at the end of February. This does not apply after the site was converted to Xenforo. If you were affected by this, please contact us.




What defines "the top 1%" and why shouldn't I be a 1%-er?/

McTell

Well-known member
Joined
Oct 16, 2012
Messages
6,204
Twitter
No
"Well done" said my accountant, "join the club, you're in the top percent now".

And he was right. The much-maligned "richest 1%" now has me elbowing into their midst. So, what is the secret of my success? The lotto? No. Cousin of Shane Ross? No! Joined the Labour Party last year? No.

Just earning and saving, mostly abroad.

My earnings exceed €29,185 and

my assets exceed €694,000

Are You in the Top One Percent of the World? | Investopedia


But then being aged over 40, if I were in the USA I should be earning ~$300,000 pa, which I don't.

How Much Income Puts You in the 1 Percent if You're 30, 40, or 50? - The Atlantic

In the UK the Beeb says £140,000 is the threshold. Not often, in my case, but sterling has dropped:

The rich: Exactly what does the terminology mean? - BBC News


Of course Oxfam hates my guts. Guys, if I don't earn I can't give!

https://www.oxfam.org/en/pressroom/pressreleases/2015-01-19/richest-1-will-own-more-all-rest-2016

Their ceo is only paid £125,000 pa, the spoilsport - 32 charity bosses paid over £200,000 last year - Telegraph


So who else is up here with me? Or not? Or down here with me?
 


ruserious

Well-known member
Joined
Jan 3, 2011
Messages
29,625
I'm eternally puzzled by people who chase wealth and promotion for no good reason other than to boost their ego.

Key to a happy life is working as less time as possible to be able to afford a happy and fulfilled life. Anything else is a superfluous waste of time, which is our most valuable resource on this Rock.
 

farnaby

Well-known member
Joined
May 15, 2006
Messages
1,967
Just to clarify, do your net assets exceed €694k, i.e. asset worth minus debts?

I'm well up there in terms of income but 1%er net wealth is far, far away...
 

Watcher2

Well-known member
Joined
May 2, 2010
Messages
34,428
Do you enjoy what you have or do you feel a little empty? Your OP would suggest the news from your accountant has left you deflated.
 

statsman

Well-known member
Joined
Feb 25, 2011
Messages
56,265
How many of those who rail against the 1% are actually part of it?
 

ruserious

Well-known member
Joined
Jan 3, 2011
Messages
29,625
How many of those who rail against the 1% are actually part of it?
I'm sure those who do rail, do so against the top 1% in this society. What value is a study which pits you against East Asian fish mongers and Ghanaian yam growers?
 

statsman

Well-known member
Joined
Feb 25, 2011
Messages
56,265
I'm sure those who do rail, do so against the top 1% in this society. What value is a study which pits you against East Asian fish mongers and Ghanaian yam growers?
The value of having you see your place in the world, and not just your parish. The value of giving you some kind of perspective.
 

ruserious

Well-known member
Joined
Jan 3, 2011
Messages
29,625
The value of having you see your place in the world, and not just your parish. The value of giving you some kind of perspective.
Which is all well and good, and reflective I may add, but those who do rail do so from a mindset of being oppressed in this society. Relative to those they know as it is more real.
 

Gin Soaked

Well-known member
Joined
Apr 25, 2016
Messages
4,310
I think a lot of these surveys just delude you into thinking you are ok.

Can you stop working and do everything you want without recourse to welfare or others? Then you are independently wealthy.? After that it is all degrees of wealth.

Our P60's are very healthy, but we have an expensive lifestyle with lots of childcare and school fees and a bertie era mortgage. We know how precarious and wage -slave we are...
 

Watcher2

Well-known member
Joined
May 2, 2010
Messages
34,428
Some people would have you believe that merely living in this country makes you part of the 1% or 5% or whatever. I'm sure the homeless are delighted.
 

gleeful

Well-known member
Joined
Feb 7, 2016
Messages
7,639
Its worth remembering that the top 1% of the world numbers 70 million people. They don't all control the world. Most of them are people with modest properties in places where prices have risen beyond reason.
 

ruserious

Well-known member
Joined
Jan 3, 2011
Messages
29,625
Its worth remembering that the top 1% of the world numbers 70 million people. They don't all control the world. Most of them are people with modest properties in places where prices have risen beyond reason.
You'd have to assume that the study is flawed as I highly suspect there are far more than 70Million people earning more than €29K when you consider North America, EU and Australia etc.
 

che schifo

Well-known member
Joined
Apr 29, 2014
Messages
5,780
If by "top 1%" you mean the best looking and most spectacularly well hung, then guilty as charged, I'm afraid. ;)
 

GabhaDubh

Well-known member
Joined
May 20, 2009
Messages
2,356
I read an article that 16% of Americans believe that they are in the 1 percent.
 

GabhaDubh

Well-known member
Joined
May 20, 2009
Messages
2,356
With America having a population of 320 Million that's 3.2 million as one percenter's. Now with fifty States that is an average 64,000 per state (of course not all states are equal in population). Republic of Ireland population of 4.7 million, 47,000 one percenter's or an average of 1807 per county. If you used County Wexford as an example with 4 Towns, Wexford,Gorey,New Ross and Enniscorthy that is 452 per town, that is a lot of bodies.
 

JCR

Well-known member
Joined
Jul 22, 2009
Messages
6,322
That 1% thing turned into a kind of facebook meme that everyone worked themselves into a frenzy without having the remotest idea of what it meant or what they were talking about. Its too easy to get people worked up when they think some one, somewhere, has more than they do.
 

New Threads

Popular Threads

Most Replies

Top