Why you’re wrong about rich people

2 Responses

  1. I agree with all you are saying, except that the rich are working more. This is the fallacy. They worked like the rest of the people.

    Recently I attended a conference where chair board of director of $300 bn company made speech. After that he could not stay and was heading for the airport. As it happened so did I and were on the same flight. He boarded earlier and I about 20 minutes later.

    I was expecting him be reading something work related, working on an overpriced laptop or talking to somebody. When I was passing by he had hs headphones on, watching cheap series.

    Those 80 hours weeks, is like Tim Cook waking up earlier and sitting on his bicycle, doing some exercises and reading news, emails. For them this work. At the end of the day there are 168 hrs a week for all. Elon complained that he had to sleep at the car factory for couple of weeks, when the problems could not be solved. So did BP CEO during Macondo disaster (I want my life back).
    I see this people, most of them do no even travel on business over the weekend. The leave house at 06:00am the earliest to catch 08:00am flight. Returning back home on Friday.

  2. I think it is the mentality of trying to live 1 level above their income station in life (as opposed to people in FIRE community looking to live 1 or multiple levels below). There is the factor of looking over to the neighbor and seeing a bigger house, a nicer car, a fancy school for the kids, and you want the same (despite the fact that the neighbor might be making a lot more than you).

    $500,000 a year is a large income – if living the middle class lifestyle in middle America. But, unfortunately, it barely affords an upper middle class lifestyle in a high cost of living area (I know because I live in NYC). Regardless, I wouldn’t feel bad for a $500,000 a year couple struggling to save. They can save a lot easily if they choose to live 1 level lower.

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