The point is not to chill and just burn through the savings and not work. How would having that much money saved, change the way you look for jobs?
The point is not to chill and just burn through the savings and not work. How would having that much money saved, change the way you look for jobs?
There is no definition of being wealthy that does not include people that make $120k/year.
You are richer than 80% of the country at that point. Lots of people have families in high COL cities and live on significantly less money than that.
https://www.taxpolicycenter.org/statistics/household-income-quintiles
I literally spent $24k on home repairs this summer, and I just pay it in payments, and I make 6 figures. No normal person pays this in cash, outright.
My roof replacement a few years back was $8k covered by home insurance.
There is no set amount of USD that defines the line between “wealthy” and “poor”. Your $120k figure would go a lot further in Mississippi or Texas that it would go in California or Massachusetts, where that would be barely enough for a large family.
There’s definitely a place (or two) in the US where a family struggles with $120k/yr. Sure, just move to Mississippi, I guess …
They would be considered “poor” there, or at least not wealthy.
Well good for you, I guess.
I guess I’m not normal.
Good for you, that would get you half a roof here, and insurance won’t cover if it’s considered normal wear and tear.
No you are definitely not normal and that is the entire duscussion