2. misc-audio
  3. 165090-142981

members and their systems

for the short time I have been on here, I see that members will start a thread asking about a certain piece of equipment or speakers..       they will then buy that piece of equipment / speakers, start a thread about it saying how good it is and then next thing you know, they are starting another thread asking about another piece of gear as they are looking for something different.           what happened to that piece of gear that was so great ?       
  i get the whole buying thing....but where are members getting the money to do all of this stuff ?       do they not have other bills such as rent / mortgage payment, car payment, other bills to pay for also ?
birdscantrow
glupson
7,842 posts
 
"In polite society it is taboo to ask how much a person earns..."

Why is that so?
tomcy6's avatar
tomcy6
2,597 posts
 
In addition to all the good financial advice given here, remember:

1. You can't take it with you.

2. If you don't spend it, someone else will.
surfmuz
400 posts
 
You could be surprised how some people get in to the hobby and bring their money to it. I have dentist friend who lives in NYC, and his interests was extremely fair from music and good sound. He was a lot about a cars, travel etc. It was about 10 years ago. We was drinking whiskey at his place and he started crying that his new BMW was vandalized and his luxury car before was vandalized too. I asked him why you keep buying expensive cars if you live in big busiest city it’s just matter of time when it’s will be vandalized again.... he said yah... I earn good money and I want to spend for some good staff and be satisfied... that evening was beginning of his audiophile journey cause I suggested him to invest in good audio gear... he took the advice very seriously.... now he has three top of the notch systems (home, office, summer house) worth a couple hundred of thousands... and he is guru now gives equipment advices to me. :)
ghasley
2,499 posts
 
@mitch2 

Thanks for posting this:

Net Worth USA Percentiles – Top 1%, 5%, 10%, and 50% in Net Worth
  • The top 1% of net worth in USA in 2021 = $10,500,000.
  • The top 2% of net worth in USA in 2021 = $2,400,000.
  • The top 5% of net worth in USA in 2021 = $1,000,000.
  • The top 10% of net worth in USA in 2021 = $830,000.

I was too lazy to look up current levels but I would even venture that in order to be considered in these brackets this should be “income producing assets”. Otherwise, net worth would likely be declining which the cost of living rises. An after tax risk free rate of 3% would net the individual in the top bracket a little over $300k per year into perpetuity.

I would like to be the first to congratulate a certain someone who announced they are a one percenter on being in on the ground floor of every decent IPO for the last 40 years! Going all in and getting it right every time takes mad skills.

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