Mebbe you and your sister could go fitty/fitty on a place in UWS!!! Close to Central Park and everything!!! 
Yes, but what about the guy making 250/year and spending 50k per year? Is he rich?
Rich is driven by the balance sheet not the income statement. You can make the argument that maybe you can reach critical mass off of 1 year’s worth of income, then you can be rich off that. But that is not plausible for the vast majority of people. Look at NBA star rookie players. Their first year’s pay is enough to set them up for life, but many are bankrupt after retiring from basketball.
I hate driving. If I lived in the middle of nowhere new jersey I’d have to drive.
It’s annoying when people insist on the mere act of living in Manhattan means luxury. not everyone wants to live here because it’s crowded and noisy and dirty.
I roomed in a few rental apartments with my sister back in the day prior to her being rich. I think we are better not living together.
But being close to work is almost entirely why it’s luxurious
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I agree that it’s impressive. But my point is that even being as impressive that he is, he wasn’t living as “rich”. The apartment he had was just a 1 br on the first floor of an old apartment building.
That’s not rich by any means.
Sure but we can just look at market price per square foot. Whether you or I would be happy to buy is less relevant.
I just convinced my boss to hire an FCAS, I think that person will be rich if they work on my team.
Yeah I think it’s a bit pedantic but I’d concede “rich” is a measure of wealth which is defined by the balance sheet.
A person with a high income and high expenses is living luxuriously but may not be rich, but again I’d say that’s a bit pedantic.
omg, no it isn’t. people have jobs outside of manhattan where they are close to work too. just being walking distance from work isn’t this huge luxury. anyway, i havn’t even freaking been in my office to work in over a year due to covid, so it isn’t even a luxury based on that metric right now either.
also, by walking distance, i mean i have to walk for an hour. so it isn’t really that close.
a 500 square foot studio isn’t a luxury at all.
I mean you’re arguing that you aren’t getting a luxury for paying 50%+ more than living elsewhere, yet you keep doing it. Then don’t keep doing it?
If you lived in Rahway, most things are in walking distance. Or plenty of other towns on train lines. Morristown, Red Bank, Westfield, Princeton.
i have a fear of change and i hate driving and manhattan is one of the few places where i never need to drive, and i’d have to sell my place. that doesn’t mean i’m living it up in luxury and it’s kind of offensive when people keep claiming that as i look at my 500 square foot studio.
In 2018 the top 10% of income earners earned over $158K so if you make more than that your are rich. How much that will buy depends on your spending habits and the cost of living. If you chose to spend like a drunken sailor or live in an uber high COLA it doesn’t change the fact that you are rich, but it could impact if you are wealthy or not.
As for Wealthy which is different than being rich one survey pegged a net worth of $2.3M or more as wealthy. So if you hit that your are wealthy.
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I think that you can’t compare someone living in the po on 158k to someone living in manhattan on 158k. the manhattan dweller isn’t rich.
There’s always someone better off, but I’d love to live in Manhattan next to my office. I mean it wouldn’t be great with kids but a huge limiting factor is definitely cost.
I think if you make more than 90% of Americans you’re rich. YMMV
Now if you are spending all of that income on living expenses and discretionary spending, you are unlikely to accumulate a lot of wealth.
i don’t agree on this. if you’re going to compare to all americans, why not extend that to compare to the entire world? it’s not that much more of a stretch. i think where you live matters though and what you’re saying doesn’t make sense.
Yeah I’m guessing expanding to the rest of the world isn’t going to do you any favors comparison. As a former President used to say, there are a lot of shithole countries out there.
that’s my point. it would make everyone in the entire country rich. so, i don’t think you can compare someone living in new york to someone living in a low COL state or even a low col city within the state. people aren’t that mobile to move at the drop of a hat. you need to compare nyc dwellers to other nyc dwellers and even that might not be enough. might go by borough or zip code.