How Much Do You Need to Make In San Francisco To Be Considered ‘Rich’?
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- เผยแพร่เมื่อ 30 ก.ย. 2024
- We hung out at the SF Ferry Building and asked six Bay Area residents this very question.
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The concept of being "rich" is subjective. In San Francisco, one needs to earn a minimum of $800,000 per year to be in the top 1% income bracket. However, due to the high cost of living and the constant fear of job insecurity, even a salaried individual in the Bay Area may not feel wealthy. To genuinely feel "rich" in this area, one likely needs assets of at least $5-10 million along with an annual income of $800,000.
only the last lady gave the right answer
Yeah for sure. To buy a nice house in San Fran you're looking at 3-4 million +. You need at least a million per year to afford it and an expensive lifestyle.
How to define rich? It means no longer having to work. So all these people are wrong.
I live in San Francisco. I earn $140k (not married). If I earned $500k I would feel comfortable and be able to save but I wouldn't call myself "rich". $1m a year would make me feel rich because I would have compounding wealth and could afford to lose if I invest more. At that point I probably wouldn't have to work because I'd have money in investments and high yield savings.
I would imagine $500-$600,000 to feel wealthy. Middle class is $300,000 per year and that is just getting by. Most people in San Francisco drive $100,000 vehicles, so many of them make $500,000 or more.
I disagree with most people driving 100K vehicles. Lots of Priuses and model 3s
Some people. Not most, for sure
There's people that spend more than what they have.. these people make less money annually but still end up spending more on stupid shit..
If you're still working for an income, you'll never feel rich
I was curious about whether the $131,000 would be enough for a person to live comfortably in SF, so did some annual calculations:
Income - $131K
All state and Federal Income taxes and payroll taxes - $42K
401K contribution - 8K
Apartment rent - $39K
Food - 12K
Apartment utilities - $3K
Parking for Car - $5K
Car insurance - $2K
Clothes - $2K
Travel - $9K
Social/entertainment $2K
Gym membership $1K
Phone/cable $1K
Miscellaneous - $5K
I am assuming this hypothetical person has no kids because child care expenses would blow out the budget. Even if we assume the person does not have a car and therefore saves the car payment and car insurance, it's basically a breakeven situation on a salary of $131K. To save some money beyond what they put into the 401K, they'd need to cut back on things like travel, social or gym memberships. So, I would say to live comfortably there, you would need more than $131K. I think you would need at least $150K and with kids in the picture, more like $200K.
Single person: $250k; With Kids: $500k+
“Ancestral wealth and knowledge” ohhhh right. So slave money
You have to be Alan Ladd Jr rich 😊
The way her dog sits in rich 😂
Is Berkeley sf lol
being extremely attractive is probably greater than wealth
Dum dum question for some vultures. People who value wealth so much have lost touch with humanity.
Move to San Francisco, then repeat that.
@@AuroraBoarder1 im from san francisco. i say it because i ve seen it. vultures see investments making returns. they dont see the people already living there. even now. the talk is about economic recovery. not how do they help people to recover from life.
30 years old with my own paid off home in San Francisco, several million dollar net worth. No family wealth here. I still don’t feel “rich”, but reaching a nice standard of living can be done. Do not listen to anyone’s defeatist attitude.
You can see how racial segregated sf is with this interview. They should go interview homeless folks.
ENOUGH!
What does homelessness have to do with race?
You mean the class divide?