FIRE in SFBA

Haven’t had time to read this through yet but I would think income or wealth gap increased…

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The wealth gap has increased by leaps and bounds.

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It’s super difficult to qualify for section 8 and any of the programs unless you’re a single parent. Without kids, they basically tell you to go suck it up. So once your kids hit 18, you lose your FIRE. Then good luck finding a job with the massive resume gap.

The irony of that info on wealth gap is the gap started to grow once we went off the gold standard. It also started to grow once the US government got directly involved in mortgages. Home prices started to sky rocket. Home owners saw their wealth increase while non-owners saw owning become less obtainable.

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Agreed, qualification is tough but even tougher is that you won’t be able to find an owner who is willing to rent to you (on Sec 8). Come on, I have a current Sec 8 tenant who is actually ok who almost gave me a wonderful gift when she said she might be moving. Well, of course, she couldn’t find anything so plans are off for now. Boo!!!

What’s your number for FU money?

$20M for a family of 4.

Uh, that is a lot of chicken wings…

That’s @manch’s definition not mine. For me $1M would’ve been fine… I don’t have a high bar :relieved:

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Dude, even I know that you have well over that amount…

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That’s why I’m happy and content. Why put so much pressure on yourself. I’m heading over to a friend’s house tonight and play some $5 poker… will not lose my lunch money for sure… :relaxed:

For this thread, we need the number for annual or monthly passive income. $1M or $20M is fine as long as it produces good passive income

Ooooh, you play??? I might have to invite you to my monthly game… small stakes but there is a single, successful retired at an early age woman there usually and my early retired architect buddy. Bunch of lazy arsed people just living off their gobs of money!!!

Income inequality is different than wealth inequality.

I think there is a huge omission in the wealth research. There are hidden wealth which is not counted. A pension contract of 150k is equivalent to a 5M networth. A section 8 voucher in BA is worth 1M networth. An Obamacare subsidized health plan is equivalent to 500k networth.

There’s more than what meets the eyes

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Please do!!! :laughing:

I suppose, but anecdotally do you really believe wealth gap has closed though? Just on the surface, we have become a renter nation…

Well, tenants are renting from pension administrator who owns the apartment building. Some of the tenants get pension checks and some have section 8 vouncher

Again, not so sure about your theory. I will dig deeper…

I offer this…

https://www.washingtonpost.com/news/wonk/wp/2017/12/06/the-richest-1-percent-now-owns-more-of-the-countrys-wealth-than-at-any-time-in-the-past-50-years/?utm_term=.479191d57bf5

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Could be propaganda. Don’t believe in the media blindly, use your own analytic skills.

Cost of living is very different. Maybe it’s just that coastal housing is more expensive, that’s end of the story

Come on, you can’t use The Donald card!!!

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