Does earning $180,000 make you rich? Let's not pretend about who's rich and who's poor

Discussion in 'Property Market Economics' started by wombat777, 30th Mar, 2017.

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What level is your income and are you rich or poor?

  1. Yes, my income is greater than $180k gross and I think I am rich

    12 vote(s)
    8.8%
  2. Yes, my income is greater than $180k gross and I think I am poor

    15 vote(s)
    10.9%
  3. No, my income is less than $180k gross and I think I am rich

    15 vote(s)
    10.9%
  4. No, my income is less than $180k gross and I think I am poor

    22 vote(s)
    16.1%
  5. Yes, my income is greater than $180k and feel I am neither rich nor poor, but comfortable

    29 vote(s)
    21.2%
  6. No, my income is less than $180k and feel I am neither rich nor poor, but comfortable

    44 vote(s)
    32.1%
  1. BKRinvesting

    BKRinvesting Well-Known Member

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    Poll Also missed the option:
    I earn more/less than this and feel I am neither rich nor poor, but comfortable
     
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  2. HUGH72

    HUGH72 Well-Known Member

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    Quote: 'In 2013-14 only 424,692 out of the 12.9 million people who filed a tax return earned more than $180,000. But it is worth noting that 48,425 of those people were able to reduce their taxable income to below $180,000 – meaning only 2.9% would have been eligible for the budget repair levy.

    And if 2.9% of the population doesn’t make you rich, then words no longer have any meaning.'

    Without getting into a discussion about what anyone does or doesn't do with their income in 13/14 only 424,692 individual people earned more.
     
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  3. datto

    datto Well-Known Member

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    If I worked four jobs I could earn 180K.

    I would then be rich and buggered (tired that is).
     
  4. Sonamic

    Sonamic Well-Known Member

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    I have a mate who is buying up all the ex-miners low km HSV's for 18-25k. Spends a day or 2 detailing the hell out of them, then onselling them for 30-35k.
     
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  5. Ace in the Hole

    Ace in the Hole Well-Known Member

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    Good stuff, wealth changing hands.
    Opportunity everywhere.
     
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  6. HomePage

    HomePage Well-Known Member

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    I'd feel rich at 1/4 of that amount. As I earn more than this lower level, I'm actually filthy rich! :cool::D
     
  7. Blacky

    Blacky Well-Known Member

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    Those stats are out of date.
    This current poll is showing about 50/50 earning over $180k.

    Blacky
     
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  8. Indifference

    Indifference Well-Known Member

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    LOL..... if the general population was as savvy as most here, we'd all be fighting for scraps!
     
  9. HUGH72

    HUGH72 Well-Known Member

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    As I quoted from the article, its for 13/14.

    No doubt that it's a different case here with considerably individual incomes for some of us. I don't live in a bubble and are aware that any poll here is not representative of the wider population where living for the next paycheck is a reality.
     
  10. DaveM

    DaveM Well-Known Member

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    Im pretty sure he was having a joke :D
     
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  11. marty998

    marty998 Well-Known Member

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    The problem with taxable income stats that the ATO releases for individuals is that it doesn't take into account a lot of people shielding income in bucket companies and splitting it with spouses and relatives in trusts.

    In reality, there's a lot more out there pulling in more than $180k a year.

    Hence any budget measure that hits "high income" taxpayers is only going to whack those who do not have the right advice to lower their income below that threshold using legal means.
     
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  12. Scott No Mates

    Scott No Mates Well-Known Member

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    I know several on household incomes well over that figure - I wouldn't consider them rich by any standard as they don't flash the cash. Maybe I move in the wrong circles.
     
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  13. Anthony Brew

    Anthony Brew Well-Known Member

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    Nailed it.

    Shame that this was not pointed out in the article. Sadly that's the media for you =/
     
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  14. Btaylor

    Btaylor Well-Known Member

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    [​IMG]
    This is poor.

    We are all rich.
     
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  15. wombat777

    wombat777 Well-Known Member

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    I've added poll options to align with your suggestion.
     
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  16. HUGH72

    HUGH72 Well-Known Member

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    Too subtle for me, straight through to the keeper.:oops:
     
  17. ScottyOfAus

    ScottyOfAus Member

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    It's not money that makes you rich
     
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  18. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    take that all the way to the bank :)

    Im blessed and confounded with clients that earn 500 k plus pa, and struggle to commit to growing the recurring side.

    ta

    rolf
     
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  19. Bris Jay

    Bris Jay Well-Known Member

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    I was once told "Wealth is not how much money you have, it's how long you could maintain your lifestyle without working".
     
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  20. Omnidragon

    Omnidragon Well-Known Member

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    Cactus, Luke T, ross100 and 2 others like this.