What's The Normal Age That People Hit That 100k/Year Mark?

[BillBanneker]

It's a combination of both. Life Insurance is designed to give you a cushion while you're accumulating wealth and assets. However, if you don't plan on taking the steps to acquire wealth, then you should atleast have an adequate life insurance policy.

And to be honest, I think that black people have just as much opportunity as whites to be wealthy but some of us just fukk off with money. I know there are some people who legitimately struggle to make ends meet but when you see people clad in labels and not a dime to their name, then it appears to me they are making poor financial decisions.

That's not an indication of wealth, or the possibility of becoming wealthy though.

 

[Rarely-Wrong Liggins]

Bullshyt.

Okay.

 

[Rawtid]

That's not an indication of wealth, or the possibility of becoming wealthy though.

Building wealth is about making good financial decisions. I can't agree that spending money on expensive clothing when you don't really have it, is a good financial decision.

 

[Rarely-Wrong Liggins]

Building wealth is about making good financial decisions. I can't agree that spending money on expensive clothing when you don't really have it, is a good financial decision.

You're right. But you're framing it as a black problem, as if no other people do this but us.

 

[Rawtid]

You're right. But you're framing it as a black problem, as if no other people do this but us.

I don't really give a fukk about other races.

 

[TRUEST]

Building wealth is about making good financial decisions. I can't agree that spending money on expensive clothing when you don't really have it, is a good financial decision.

true. but if clothes is all what these people spent their money on, then thats not so bad.

but u have idiots spending money on cars they cant afford. you can buy clothes with pocket change. when u start buying luxury cars (used or new) that you cant afford, there's a problem because you will forever be paying off that debt. add to that the fact that most of these idiots get bored with sh1t. they wanna switch cars whenever something more flashy comes out. people who do this are the true idiots of all.

 

[Rawtid]

true. but if clothes is all what these people spent their money on, then thats not so bad.

but u have idiots spending money on cars they cant afford. you can buy clothes with pocket change. when u start buying luxury cars (used or new) that you cant afford, there's a problem because you will forever be paying off that debt. add to that the fact that most of these idiots get bored with sh1t. they wanna switch cars whenever something more flashy comes out. people who do this are the true idiots of all.

Eh, I feel some type of way about anyone, children especially, being clad in name brands when you could get "brandless" clothing and use the excess money for something else.

Not saying that you should forever be shopping at walmart but at least build a stable financial foundation and then you can enjoy spending your money.

 

[BillBanneker]

Building wealth is about making good financial decisions. I can't agree that spending money on expensive clothing when you don't really have it, is a good financial decision.

So, they don't have money to spend, but they can build wealth.

 

[john goodman]

Idiots arguing against saving money now

Alot of you guys really aren't worth talking to... Online or offline

 

[Rarely-Wrong Liggins]

I don't really give a fukk about other races.

Neither do I. I'm still not going to act as if we have the market cornered on flossing and making bad financial decisions. You're really simplifying a complex issue by saying we don't pass anything down to our children strictly based off poor financial decisions.

 

[Rawtid]

So, they don't have money to spend, but they can build wealth.

No, I'm saying that they could have more money to build wealth if they spent more wisely or cut out things that aren't necessary.

 

[Rawtid]

Neither do I. I'm still not going to act as if we have the market cornered on flossing and making bad financial decisions. You're really simplifying a complex issue by saying we don't pass anything down to our children strictly based off poor financial decisions.

Ok I will give you that, I have simplified the issue but for the most part it is true. We make poor financial decisions. It's a combination of not having guidance on what to do with our money and just not caring.

 

[Broke Wave]

No, I'm saying that they could have more money to build wealth if they spent more wisely or cut out things that aren't necessary.

What is this based on? Do you think that if Black Americans had frugal spending habits, they would be able to build wealth? Is there any evidence to support this? How can you build wealth when most black people are either unemployed, underemployed, or low income? 80% of the wealth in the United States right now is at the top, making the U.S. the most unequal western nation.

FAAAAAAAACTS

 

[Heretic]

i'll be there before 30, probably 2-3 years from now


but I already know shyt won't change at all... yea I'll have more money and probably drive a nicer car, but I'm trying to pay off my student loans asap and save for retirement, so you won't ever see me making it rain like that


I'd eventually like to enjoy the fruits of my labor later on while I'm still single, though... my bro is an ER doc in his mid 30s making 500K/year and you'd never know it because he saves a shytload of money and has stuff like his kids' private school/college fund to pay for; fukk all that

Ok... Er docs make really good money but you goin overboard with that 500k. does he by chance have his own practice and works part time at a hospital? because you wont find an er doc that makes that much hell, most surgeons don't even make that. Trust me man I have doctors in my family and I thought long and hard about doing medicine before choosing engineering.

 

[Anothergirl]

What is this based on? Do you think that if Black Americans had frugal spending habits, they would be able to build wealth? Is there any evidence to support this? How can you build wealth when most black people are either unemployed, underemployed, or low income? 80% of the wealth in the United States right now is at the top, making the U.S. the most unequal western nation.

FAAAAAAAACTS

my thing why CAN'T they do it when others having been here only a generation or two CAN.
my grandparents on my moms side were able to leave a couple hundred thousand dollars in inheritance...plus a $300K home full of heirlooms in only ONE generation. granted it's not "wealth" by any stretch but to say "you have to have something to leave something" is bullshyt they came here with nothing.. worked hard...were frugal..and did that in only 40 years. meanwhile 400 hunnid years later black folk native to the country still making excuses up down all around...