Over half of Americans claim they're nowhere near achieving their definition of financial freedom, with 36% saying they have less than $1,000 in their savings accounts.
I mean, it’s not a myth, billionaires literally have enough financial freedom to live large for 100 lifetimes.
The myth is that they’re willing to share their rigged casino gambling “speculative investment” derived wealth/winnings, because reminder: nobody can come remotely close to earning a billion dollars through honest labor.
Cause a theoretical ancap hellscape would still have billionaires despite being stateless by definition.
You need power and control to get that rich. The only way that happens today is by the state, but that doesn’t preclude other forms of violence and power.
Your previous statement was just more broadly applied than our existing capitalist system and I find the distinctions interesting to discuss, as it helps identify the root.
Walmart couldn’t exist without exploiting the poor. Even though they could pay their workers enough to live, the majority of them are on food stamps: which is just the govt subsidizing exploitation.
You don’t need billions for most definitions of financial freedom. Unless your definition is spend whatever you want, never worry about running out of money, and not have a job, you really don’t need billions.
That’s why I said 100 lifetimes charitably. That’s 10 million from 1 billion, and even less than half of that is enough for a lifetime of responsible financial freedom.
If you drop the spending whatever you want, a few million should be sufficient. If you get a 5% annual return that’s $50,000 a year per million invested. $150-200k a year if you own your house is more than enough to not worry about having enough money. Plus there’s millions in the bank for any truly major expense.
If you mean that they eventually got placed on Social Security disability then yes the majority do retire. You should see what the nursing homes for people in the government system are like.
My definition of financial freedom is not being dependent on an employer. It’s being wealthy enough to be able to walk away from crappy jobs however long it takes to find a better one.
I mean, it’s not a myth, billionaires literally have enough financial freedom to live large for 100 lifetimes.
The myth is that they’re willing to share their
rigged casino gambling“speculative investment” derived wealth/winnings, because reminder: nobody can come remotely close to earning a billion dollars through honest labor.You need state support to get that rich.
"It’s a big club, and you ain’t in it!" -George Carlin
Depends on what you mean by state support.
Cause a theoretical ancap hellscape would still have billionaires despite being stateless by definition.
You need power and control to get that rich. The only way that happens today is by the state, but that doesn’t preclude other forms of violence and power.
You aint wrong but modern system of “capitalism” relies on state violence and money transfers from taxpayers to our “dear job creators”
100% totally in agreement
Your previous statement was just more broadly applied than our existing capitalist system and I find the distinctions interesting to discuss, as it helps identify the root.
Walmart couldn’t exist without exploiting the poor. Even though they could pay their workers enough to live, the majority of them are on food stamps: which is just the govt subsidizing exploitation.
You don’t need billions for most definitions of financial freedom. Unless your definition is spend whatever you want, never worry about running out of money, and not have a job, you really don’t need billions.
That’s why I said 100 lifetimes charitably. That’s 10 million from 1 billion, and even less than half of that is enough for a lifetime of responsible financial freedom.
Most wealth doesn’t survive 3 generations, so it’s way less than 100 lifetimes.
Billionaires have poured billions into life extension ventures, many of them believe they’ll be around to spend it themselves forever.
If you drop the spending whatever you want, a few million should be sufficient. If you get a 5% annual return that’s $50,000 a year per million invested. $150-200k a year if you own your house is more than enough to not worry about having enough money. Plus there’s millions in the bank for any truly major expense.
So the top 10% of income earners?
The threshold is significantly lower since the vast majority of Americans do, in fact, retire.
That’s not gonna be true for much longer. Watch the Republicans plunder Social Security and Medicaid like they’ve been hankering after for decades.
Ideally I’ll watch them be voted out of power instead.
If you mean that they eventually got placed on Social Security disability then yes the majority do retire. You should see what the nursing homes for people in the government system are like.
My definition of financial freedom is not being dependent on an employer. It’s being wealthy enough to be able to walk away from crappy jobs however long it takes to find a better one.