News
Welcome to the News community!
Rules:
1. Be civil
Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban. Do not respond to rule-breaking content; report it and move on.
2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.
Obvious biased sources will be removed at the mods’ discretion. Supporting links can be added in comments or posted separately but not to the post body. Sources may be checked for reliability using Wikipedia, MBFC, AdFontes, GroundNews, etc.
3. No bots, spam or self-promotion.
Only approved bots, which follow the guidelines for bots set by the instance, are allowed.
4. Post titles should be the same as the article used as source. Clickbait titles may be removed.
Posts which titles don’t match the source may be removed. If the site changed their headline, we may ask you to update the post title. Clickbait titles use hyperbolic language and do not accurately describe the article content. When necessary, post titles may be edited, clearly marked with [brackets], but may never be used to editorialize or comment on the content.
5. Only recent news is allowed.
Posts must be news from the most recent 30 days.
6. All posts must be news articles.
No opinion pieces, Listicles, editorials, videos, blogs, press releases, or celebrity gossip will be allowed. All posts will be judged on a case-by-case basis. Mods may use discretion to pre-approve videos or press releases from highly credible sources that provide unique, newsworthy content not available or possible in another format.
7. No duplicate posts.
If an article has already been posted, it will be removed. Different articles reporting on the same subject are permitted. If the post that matches your post is very old, we refer you to rule 5.
8. Misinformation is prohibited.
Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.
9. No link shorteners or news aggregators.
All posts must link to original article sources. You may include archival links in the post description. News aggregators such as Yahoo, Google, Hacker News, etc. should be avoided in favor of the original source link. Newswire services such as AP, Reuters, or AFP, are frequently republished and may be shared from other credible sources.
10. Don't copy entire article in your post body
For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.
view the rest of the comments
The outage in this thread is just a perfect example of how every social media site ends up being a rage bait echo chamber.
If you retired today on a million dollars, you'd have income of 40k and that's before taking into account future inflation. Nothing about that screams rich or wealthy. 2.5-3M will net you what you need to retire middle class in the US.
Everyone in here screeching angrily that the middle class is being squeezed but they used millionaires so fuck em right?
The comment sections under certain articles couldn't be more predictable here. People know their audience and therefore know exactly what to say to receive the maximum number of pats on the back. Apparently we're so devoid of meaning and purpose that even online hate clubs start seeming like something worth becoming a part of. Bonding over shared interests and goals is out, and sharing a mutual hatred of the other is in. That's the glue holding this group together.
I feel like millionaire might be too broad a term here but I can't really think of a better phrasing. There is a pretty big difference between an accomplished neurosurgeon or something retiring at 65 with a few million and some asshat CEO retiring at 40 with 500+ million.
The most money I have even seen is 18k, and in my community I'm the wealthy philanthropist people come to when their shit breaks down. Can you see how owning a home and having one million dollars handy might be perceived as unimaginable wealth from here? Or how your retirement income calculations might sound to someone who will never retire?
I think people are just having issue with the title, mostly.
Also, I wouldn't really count an IRA having a million dollars as being a millionaire with the rules regarding distribution. Even a Roth (at least in the US) can have penalties if withdrawn before the beneficiary is 59.5 years old. I'd more consider the title of a millionaire as having at least a million dollars in liquidity, usually more.
The title, is accurate, and meaningful. The top 10% of the planet is feeling squeezed out.
I disagree with the second part. In my experiences I've come to believe most of my peers who range in between 150ish -400 + rsu mostly think about when can they retire and maintain their life styles. And for most of my peers live pretty upper middle class lives. Living well but not particularly lavishly.
And we/they know that. We're near the top, we have it best, but it certainly doesn't feel wealthy. More like, not fighting for literal survival.
Yeah, I don't disagree with it being accurate. More just that it's a very sensitive pain-point for a lot of people and the way it's worded, at first glance, can make people who are legitimately struggling feel forgotten.
A bit hyperbolic, but it can be something like, "Jeff is trying to make ends meet by skipping meals. Fred is feeling the pressure of the economy and decides to forgo the avocado toast. Let's focus on Fred."
Again, it's a sensitive subject and as such wording of headlines starts to become more and more important. Something like, "In today's economy, even owning a million dollars is meaning less and less," could be a bit more neutral.
There are ways to get money out of an IRA without penalties (72T rule), but the article talks about “net worth millionaires” which includes home value (the article mentions this), and that’s hard to get value out of unless you do something crazy like a reverse mortgage.