You don't need to be a billionaire.. 10 million plus is sufficient to never have to work again if you are not absolute degenerate and know how to manage money.
100 million if you have to cosplay being "rich"
Comment on Who are the "middle class" supposed to support in the class stuggle?
garbagebagel@lemmy.world 3 weeks agoI think an easier interpretation than the “owners vs workers” in this day and age is, are they billionaires. If you’re not a billionaire or close to it, you should be on the side of the working class.
The billionaires that make up only 1% of the population ans own nearly half the wealth of the entire world are the problem.
sunzu2@thebrainbin.org 3 weeks ago
blarghly@lemmy.world 3 weeks ago
1 million is commonly agreed upon in the FIRE community as the number to hit to have a confortable retirement in perpetuity. Following the 4% rule, you could withdrawal $40k each year to live off of and would almost certainly not run out of money before you die, even accounting for inflation.
sunzu2@thebrainbin.org 3 weeks ago
That number doesn't math... Unless you also have a paid off house.
blarghly@lemmy.world 3 weeks ago
Why not? I lived on about 20k last year. I live in a camper van most of the time, so no rent for me. But even paying (imo, a rather exorbitant) $1000/mo for a studio, you are still only at 32k per year.
despoticruin@lemmy.zip 3 weeks ago
Honestly you can just remove the ambiguity and put the number right at 1 billion dollars of net worth. Up to that point is obscenely wealthy, but a billion is the line that guarantees the majority of your wealth came directly from the exploitation of the masses.
You can’t ethically make a billion dollars as an individual when the working class sees 1/10,000th of that in a year as doing fairly well in most areas.
Bubbaonthebeach@lemmy.ca 3 weeks ago
Ethically, the bar is much, much lower. By the time you have $25M net, you had to have exploited someone to get there and you’d have the clout to make at least local politics bend in your favour.
blarghly@lemmy.world 3 weeks ago
Chill out, dude. Somebody’s gotta fund your revolution.
Bronzebeard@lemmy.zip 3 weeks ago
Eh… There’s definitely ways to obtain that much without exploitation, although rare.
Bubbaonthebeach@lemmy.ca 3 weeks ago
$10M and up would probably qualify. Below that, people would still need to work to maintain what they have with some measure of comfort and dealing with risk, inflation. Above that, they should be able to be self sustaining without working for a paycheque.