Six Figure Income
- Thread starter 13COBRA
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Anything over $500K IMO.
treefiddy
+1 to 500k+
Not super relevant but I think the minimum for the 1% bracket in 2016 was 421k a year.
+1 to 500k+
Not super relevant but I think the minimum for the 1% bracket in 2016 was 421k a year.
Anything with 6 figures. In my case, if i include the cents column, im a 6 figure income.
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6 is $100k plus high would be anything over $500k but to my thinking that should be mid with high over $700k.
Are we talking household or individual?
I would say as an individual anything north of $300k is doing damn good.
But it is heavily influenced by location. $300k in rural North Florida would have me living like a king but probably not so much in New York City or somewhere similar.
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I would say as an individual anything north of $300k is doing damn good.
But it is heavily influenced by location. $300k in rural North Florida would have me living like a king but probably not so much in New York City or somewhere similar.
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But nowhere are assets mentioned.
Assets matter.
Let’s say you have 300 acres of farmland outside of town which is taxed at a rate that is not even worth mentioning in my county. And you rent that land to a farmer for an amount that is also somewhat negligible, but builders are expanding the footprint of your town and buying that land nearby for $60,000 an acre.
You likely won’t sell it all for $60,000 an acre, or all at the same time, but you effectively have an $18MM asset that cost you nothing to own. You can’t really borrow against it, but it is still a valuable asset nevertheless.
Let’s call it a ship still out in the ocean, as it were, but will come into port one day, if you so decide, or you swap it in a 1031 exchange for a like-kind piece of real estate that either now earns income, or you just like better.
So being rated for only income just doesn’t mean much in my personal view.
Assets matter.
Let’s say you have 300 acres of farmland outside of town which is taxed at a rate that is not even worth mentioning in my county. And you rent that land to a farmer for an amount that is also somewhat negligible, but builders are expanding the footprint of your town and buying that land nearby for $60,000 an acre.
You likely won’t sell it all for $60,000 an acre, or all at the same time, but you effectively have an $18MM asset that cost you nothing to own. You can’t really borrow against it, but it is still a valuable asset nevertheless.
Let’s call it a ship still out in the ocean, as it were, but will come into port one day, if you so decide, or you swap it in a 1031 exchange for a like-kind piece of real estate that either now earns income, or you just like better.
So being rated for only income just doesn’t mean much in my personal view.
We're not talking about whether or no $XXXXXXXX is a 'good' or not, just purely what your perception is of a high six figure income.
If I told you I was going to hire you and pay you a high six figure income, would you assume it's $150-199k or $600k+?
Assets don't matter.
We're talking about INCOME, that's it.
Same question as above...
If I told you I was going to hire you and pay you a high six figure income, would you assume it's $150-199k or $600k+?
Okay, for this narrow discussion, I stand corrected.
Would you rather earn $100,000 a year and have no assets, or $100,000 and own several million in assets.
This “1%” designation is just meaningless to me.
As you all were.
Six figures in the car business means you have the opportunity to earn the sixth digit. This would mean any 20+ car guy, and any competent sales manager or F&I manager. How talented you are and how cheap the dealer is....another thread.
I'd rather win the Powerball twice a year, get a blowjob with breakfast and dinner, be able to work from the moon, etc...
Yes, assets are incredibly important.
But this discussion has nothing to do with assets. lol
I'm not sure why this is so hard to comprehend.
Do you think a HIGH SIX FIGURE INCOME is $150-199k or $650k+?
Highest six figure income possible is $999,999. I think I agree with boss man where "high six figure" would be anything over $500,000.
I'll never make a low, middle, or high six figure income so take my opinion with a grain of salt
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High 6 would be $350K+ IMHO
High 6 figure would be the top 25% in my opinion.. so, $750,000+.
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I'd assume $700+K.
Just like with any low-mid-high range. Low = 1-3, mid = 4-6, high = 7+.
From s scale of 1-10, 5 is in the middle.
So in dollars I personally think 700k+ is in the higher side of 6 figures.
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So in dollars I personally think 700k+ is in the higher side of 6 figures.
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When I read your first post I was thinking 150k or higher.
Never really thought about the 750+ range; never even been close is likely the reason.
Perspective I think. I suspect most would think high 6 figure means 150+
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