Is being worth in a 6 figure category something that is common?

[shaysh87]

I was talking to a friend who has a lot of money about my how my career was going. He asked how my finances were. And I replied: "I've been four years into the job and I'm worth well into the 6 figure category. " I didn't tell him the exact numbers because thats very private info. who wants to expose their bank account figures? nobody. But on the other hand, I wonder if being worth 6 figures is a common thing amongst people? Think about people buying homes worth 200k. If everyone can buy a home then, there must be many people that are worth 6 figures. is that even something worth bragging about?

[Fireguy17]

6 is better than five, 7 is better than 6.
depends on how they were figuring it, was that net worth, or cash on hand.
Just because your house may be worth 200 or more, unless it is fully paid for that doesn't mean much at all, except that your credit was good enough to buy a house.
It is how much equity they have in their house is what matters.
There were ways to buy one for no money down, or for under 20% down which used to be the standard.
So you could own a house that is worth 200k but only have 5 or 10k into it.
While 6 firgures is more common, is it 101, or 950, a huge difference, but it is a nice goal to hit.

[exitseven]

Yes, it is pretty common. It really does not buy what it used to however.

[shaysh87]

I honestly have a feeling I agree

[exitseven]

Thanks for the MHO😎

[razelove]

If you have that much in liquid assets it's worth something to brag about. Very few people have their 200k house paid off, or buy it in cash. Regardless, be proud of what you accomplish, trying and achieving anything at all. A lot of people talk about their grand plans but don't do shit.

You did, whether your success netted you 5, 6, or 7 figures, you still did what you set out to do. That's worth something at the end of the day.

[BCA6010]

People generally aren't buying homes outright; they'll buy a house for say $350,000 with a loan and pay it off over several years. The average homeowner income in the US right now is just under $65,000 per year, which is notably lower than the income of the average buyer right now by about $20,000.

[jennifer_bloom]

Most of my dads friends as well as my dad and most of my uncles and cousins make six figures and I expect to make around 6 figures when my business is set up. But it’s definitely above average, I have 4 extremely intelligent grand parents so I inherited a lot of high income associations when I was born. My dad is the dumbest person in his family and his IQ is above the 99.99th percentile cause my grandpa was a genius.

[Guy13]

Making six figures is nice. 7 figures in income generating assets is most important. Just above poverty line and 7 figure income is sometimes the same person.

[shaysh87]

Haha sounds like someone’s upset

[Guy13]

Sweetheart, I’m not upset. I know how to use my money…. I’m guessing, from your reply, that you do not understand how money is worked… Best in your 6 figures😏

[shaysh87]

Nobody is gonna agree with you 40k is the same as 300k. Ok? Time for you to quit your inferiority complex

[Guy13]

I rather show Poverty line Salary and 1.2 mil in income. You need someone to handle your money, obviously you do not understand Financials. Leave me alone. Best in your endeavors

[shaysh87]

You don’t even try to hide your “little man syndrome”.

[Anonymous]

No. You're ahead of the curve. By how much? Depends what metric you want to use.
As far as houses go it always amuses me when someone says "look at his house he must have a lot of money". He could, but it's more likely that he has a lot of DEBT.

[TenkRealist]

Well it depends on where you are and how much that money is worth and how much you can afford but yeah generally, six figures will put you at least in the top 10%

[Flower7]

No, that’s not common. And almost all people buying houses of that amount took out loans to do so. It’s very very rare to pay cash for a house that’s above 6 figures.

[UniquelyBasic]

Is that how worth is measured? By how much money is in your bank account?

[shaysh87]

money is not my worth. im just wondering if being worth well into the 6 figure category is something that is uncommon

[bamesjond0069]

Its good but not brag worth especially by 31. Maybe at 24. You could be ahead of the curve a bit but i mean simply having a job that isn't minimum wage is also ahead if the average too.

[shaysh87]

I’m 26.

[bamesjond0069]

Avg person retires w networth of 400k i think.

[shaysh87]

This is the first answer that makes sense coming from you on this website.

[zagor]

Homes worth 200K? I envy you. There are pretty much no standalone houses anywhere in my town for under 700K. 1.3 mil is more common.

[shaysh87]

In my area, there are no homes with 700k either. but I live in a very expensive city.

[Anonymous]

Fucking rich people. You always amaze me with how completely fucking oblivious you are about how easy you have it. Goddamn... 🤦‍♂️

[shaysh87]

I am well into the six figure category cus I save my money. Think twice before you say something like that

[Djaay]

You are the only one who stands in your own way to success. And you have had all the same oppertunitys as all the rest of us.

[shaysh87]

@Djaay

i would agree with you. I was born to parents under poverty. Now I'm worth 6 figures.

[Djaay]

I was born to parents who became wealthy and never shared a penny. I was a millionair at 18 after being abandoned at 13 in a big inner city. And have done it over again several times as is today. When oppertunity calls , it leads us blindly to another facet of life with tons of veriables.. Most are'nt willing or observant enought to venture in that realm. Instead most limit and stigmatize themselfs from those very oppertunity's.

[shaysh87]

@Djaay

I very well agree

[Anonymous]

Something like 1% of the population earns 6 figures or over.

[shaysh87]

there are plenty of people who make six figures.

[zagor]

Not true. The median household income in the town I grew up in, which now is over 120,000 in population, is $108,000. Granted some of that is due to multiple earners in a household.

[Opinion Owner]

Oh, I just looked at the statistics, actually 9% of people earn 6 figures plus.

[jshm2]

No, that's pretty poor, tbh.

[shaysh87]

Another hater on here

[Dargil]

Many or most home owners are worth 6-figures.

[OddBeMe]

Not as common as lying about it.