How Rich Are You ?
Mar 25th 2014, 2:22 pm
#32
Yo
Thread Starter
Joined: Nov 2012
Location: UK
Posts: 24,474
Re: How Rich Are You ?
Quite the opposite, I think. The more children one has, the more one needs to earn to consider oneself richer than a given percentage of one's peers. A singleton earning 40k would be in the 90th percentile of earnings; a sole-breadwinner for a couple with two children, on the same salary, would be only in about the 45th percentile of earnings for 2-child families.
But as was noted in a thread yonks ago, the production of children does tend incentivise more work and (in theory) asset accumulation!
Mar 25th 2014, 2:30 pm
#34
Yo
Thread Starter
Joined: Nov 2012
Location: UK
Posts: 24,474
Re: How Rich Are You ?
Many will seek to maximise their property (whether size or area) for the benefit of the kids. It becomes less a priority for singletons and couple. Of course property is only one type if asset, but for most, it's the main one.
Mar 25th 2014, 2:36 pm
#35
Slob
Joined: Sep 2009
Location: Ottineau
Posts: 6,342
Re: How Rich Are You ?
I find that table a bit bemusing.
We are at the top of that table. Where does all the sodding money go?
We are at the top of that table. Where does all the sodding money go?
Mar 25th 2014, 2:48 pm
#39
The ride never ends
Joined: Sep 2011
Location: SW Ontario
Posts: 2,481
Re: How Rich Are You ?
There is a difference between "rich" and being in the "top (richest) decile"
If my wife and I were earning the equivalent of 88k GBP (guessing that's in the $140k range?) between us we'd likely feel pretty well off.
If my wife and I were earning the equivalent of 88k GBP (guessing that's in the $140k range?) between us we'd likely feel pretty well off.
Mar 25th 2014, 2:54 pm
#41
Lowering the tone
Joined: Mar 2007
Location: Here and there
Posts: 7,351
Re: How Rich Are You ?
For every pound that I could earn in Britain, I could make 1.85 dollars in Canada, at today's exchange rates. That means I get 85% more money for the same effort. This can be spent on assets such as a bigger house - and they're bigger in Canada to begin with!!
Mar 25th 2014, 3:10 pm
#42
Assimilated Pauper
Joined: Mar 2005
Location: Ontario
Posts: 40,018
Re: How Rich Are You ?
That's baffling. If I spend money on having a bigger house surely I'm taking that money away from the care and maintenance of the children. I accept that there's an argument that having a happy parent is good for children but that would hold whether it's a big house or an exotic holiday that makes me happy.
Mar 25th 2014, 3:39 pm
#43
Slob
Joined: Sep 2009
Location: Ottineau
Posts: 6,342
Re: How Rich Are You ?
That's baffling. If I spend money on having a bigger house surely I'm taking that money away from the care and maintenance of the children. I accept that there's an argument that having a happy parent is good for children but that would hold whether it's a big house or an exotic holiday that makes me happy.
She does take a rather long view on things. I don't look beyond tomorrow.
Mar 25th 2014, 4:01 pm
#44
Account Closed
Joined: Sep 2013
Posts: 108
Re: How Rich Are You ?
I can't think of anyone in my network who don't earn a fair stash, 100 is an average, and some get bonuses of (you don't want to know). If money was everything they'd be happier, and maybe even kinder but I don't think that's the way it works.
Mar 25th 2014, 5:34 pm
#45
.
Joined: Sep 2008
Posts: 20,185
Re: How Rich Are You ?
Where the naff does it all go? 