The six-figure club.

REO6205 · Jan 22, 2022

Bob Dobalina said: ↑

Now I feel the need to steer this in yet another direction. "Six figures" has been a magical number for a salary ever since I can remember. Unfortunately, adding an extra digit to your salary gets less and less magical every year due to inflation. I'm grateful for the money I make but it needs to be put into perspective.

You can use any online inflation calculator to see what I mean. Six figures in 1980 was nearly $340,000 in today's money. In 1990 it was equivalent to $210k. In 2000, about $162k and in 2010 about $128k. I can tell you one thing, I may be in the club now but I don't make doctor or lawyer or corporate executive money. It's a much less exclusive club than it used to be.

Today's six-figures buys as much as a $29,500 income did in 1980. And so on. Which reminds me: I remember when a Lamborghini Countach "only" cost a hundred grand!
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A good pair of work boots used to cost me about three day's wages. A new pickup cost about six month's pay. They still do. We're just playing with bigger numbers.

LtlAnonymous · Jan 22, 2022

I'm back to the point where I won't have to go without to pay for an emergency, so I'm happy with that.

2015-the end of 2019 were a little touch and go, for sure.

Gomer1969 · Jan 22, 2022

Bob Dobalina said: ↑

Now I feel the need to steer this in yet another direction. "Six figures" has been a magical number for a salary ever since I can remember. Unfortunately, adding an extra digit to your salary gets less and less magical every year due to inflation. I'm grateful for the money I make but it needs to be put into perspective.

You can use any online inflation calculator to see what I mean. Six figures in 1980 was nearly $340,000 in today's money. In 1990 it was equivalent to $210k. In 2000, about $162k and in 2010 about $128k. I can tell you one thing, I may be in the club now but I don't make doctor or lawyer or corporate executive money. It's a much less exclusive club than it used to be.

Today's six-figures buys as much as a $29,500 income did in 1980. And so on. Which reminds me: I remember when a Lamborghini Countach "only" cost a hundred grand!
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It's still an exclusive club considering only somewhere between 7-9% of single earners make $100,000 a year.

Bob Dobalina · Jan 22, 2022

Gomer1969 said: ↑

It's still an exclusive club considering only somewhere between 7-9% of single earners make $100,000 a year.
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I agree. Don't get me wrong. I'm super grateful to earn what I do, especially considering my lack of a college degree and the fact that I make more than many of those who do have one. There are a lot of people struggling out there, and I'm not one of them (for this moment and thank God).

cgilliland · Jan 22, 2022

supergreatguy said: ↑

of course! That’s a 100% facts. How do you get to the first milestone? You bust your tail doing what gets you the most money while young. A single person at my families company can work 6 days and net 3.5k a week (182k). Do that for 5 years, and LITERALLY make a couple moves on SPY options in the stock market and boom there’s 1m. A welder can next 2.5k, and repeat the process. You can sell coke (if you’re risk tolerant) for 5 years and make 1m. You can start a only fans and sell fake pictures. You can start a YouTube channel. You can work for 1 year trucking and buy 5 pickups and start a lawn care service. You can open a bada$$ food joint and clear 40k a month. There is literally NOTHING stopping you from breaking the idea that you can be financially free expect for yourself. If you live like a wage slave victim, you will reap those rewards. I began as a homeless, jobless addict. There’s literally no excuse beside no internet connection.
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182k doing what

supergreatguy · Jan 22, 2022

cgilliland said: ↑

182k doing what
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hauling containers picking up cotton. Running some jb hunt

bonder45 · Jan 22, 2022

Whoot! I hit the 6 figure club and it’s not even the end of Jan!

On the flip side I hit the 6 figure club in expenses as well hahaha

diamondd817 · Jan 22, 2022

Gomer1969 said: ↑

It's still an exclusive club considering only somewhere between 7-9% of single earners make $100,000 a year.
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I find the 7-9% number hard to believe. I would think it is much higher than that.

Gomer1969 · Jan 22, 2022

diamondd817 said: ↑

I find the 7-9% number hard to believe. I would think it is much higher than that.
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Percentage came from the IRS tax returns for single incomes.

gentleroger · Jan 22, 2022

diamondd817 said: ↑

I find the 7-9% number hard to believe. I would think it is much higher than that.
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