I saw this article a few weeks ago. It is very interesting to see each of their different takes on money and how they use it. Understanding this incite is helpful.
I found this article really interesting and here are the points that made me surprised:
I found it really interesting that the man with the $1,000,000 income was not as pretentious as I thought. He does not seem to be spending his money on ridiculous things and has a financial plan. I also found it interesting that he does not have a problem with paying higher taxes because it is all going to the greater good. My opinion, after reading all those books was that all of those in the top income bracket were against higher taxes, and it is nice to know that some realize how beneficial they are for society.
The man who made $250,000 per year seemed greedier than the man making $1,000,000. He wanted all the fancy toys and basically shows off his wealth. The man making $1,000,000 gave money back to the community and wanted to help his parents become independent.
Another interesting thing was the man who made $53,000 per year had the largest family and did not have any debt. The other two males did have debt that they needed to pay off. There was a plan for retirement and college for their kids, unlike the man who makes $250,000. This man also does not stress about money and believes that taxes are too high.
The man who makes $7 per hour unfortunately has a lot of debt and two children to care for. However, he states that he is fairly happy and believes that taxes are too high.
The man that makes $250,000 a year is interesting to me because I think he represents the way that many people are managing their money these days. Rather than putting money away for college tuition and retirement, people are reinvesting their money to ensure the biggest returns. The man who makes $1,000,000 a year is a good example of someone who is potentially not using their money to its full potential. Though we look at this man as responsible and caring, if he invested more of his income on a regular basis, he would be doing more for the present economy. However, he does not have as large of an incentive to invest since his annual income is so large compared to his expenses.
Definitely a cool article. It's interesting how each person said they were for the most part happy with their life, and yet each wanted way more money than they were making to live the life they wanted. I think it just goes to show that you can never really have enough money. Like the $250,000 man said "At this point in my life, if I had $600,000 yearly income, I would have the life that I want to be living. But then again, when I get there, I'll want to buy the jet." I think it's a good lesson in budgeting though. I was impressed with the first two especially, they were really on top of all their money, their expenses, goals, incomes, retirement, etc.
I found this article very interesting and I was surprised by some of the view points and situations of each man. For example the most interesting for me was seeing how generous and understanding the man making $1,000,000 was. Like Rachel I expected him to be a little more pretentious and against his higher tax rate. However it is interesting that he was much more down to earth than the man making $250,000, who does not even have a college savings account for his son and has fifteen credit cards. However, I also found it interesting that he was ok with his tax rates. I really like his quote from his boss "You guys complain about the taxes being taken out—if you don't want them to take that much, just make less." After reading this article and the different situations, I think that while income level is an important factor in how people act and spend their money, I think personality and individual backgrounds are also important factors.
The quote that "if you want to get taxed less, make less money" really stood out to me. It seemed that the more affluent group was not angry or concerned about the taxes they were paying. On the contrary, the two men with lower earnings felt there taxes were too high. It goes along with the idea that tax breaks of the past really haven's benefited the lower classes.
What an awesome article. It is so eye opening and almost reassuring that it all depends on your outlook on life and it can change everything. The man who is making $7 an hour makes an incredible point that they don't think about all of the things that they can't afford. What would it be like if we all thought that way?
This is really a thought-provoking article to me. I think the sample size is too small to say how well each individual is representing the group of people from the same level of income, but this article made me think of my life goal or how I evaluate my current life. It's interesting to see that all of them graded their scale of happiness between 7 and 9. This just speaks to me that not everyone can be 100% content with their lives and nobody really thinks that their life is too miserable. It really made me ponder how people eventually need to negotiate in their lives between what they want and what they can have. The guy making 250K is worried about money every single day, every single minute, and the guy making 53k said that money is something that he doesn't stress over.
I found it really upsetting to see the differences in wants and needs between each individual. At the wealthier end of the spectrum, the men wanted certain things that are generally superfluous, whereas at the lower end of the spectrum, the men just wanted items that would make their lives as parents easier. I was also surprised at the selflessness of the wealthier individuals. Neither thought that the tax rate was too high for their incomes. I suppose that when you're making enough money, none of that really matters.
I saw this article a few weeks ago. It is very interesting to see each of their different takes on money and how they use it. Understanding this incite is helpful.
ReplyDeleteI found this article really interesting and here are the points that made me surprised:
ReplyDeleteI found it really interesting that the man with the $1,000,000 income was not as pretentious as I thought. He does not seem to be spending his money on ridiculous things and has a financial plan. I also found it interesting that he does not have a problem with paying higher taxes because it is all going to the greater good. My opinion, after reading all those books was that all of those in the top income bracket were against higher taxes, and it is nice to know that some realize how beneficial they are for society.
The man who made $250,000 per year seemed greedier than the man making $1,000,000. He wanted all the fancy toys and basically shows off his wealth. The man making $1,000,000 gave money back to the community and wanted to help his parents become independent.
Another interesting thing was the man who made $53,000 per year had the largest family and did not have any debt. The other two males did have debt that they needed to pay off. There was a plan for retirement and college for their kids, unlike the man who makes $250,000. This man also does not stress about money and believes that taxes are too high.
The man who makes $7 per hour unfortunately has a lot of debt and two children to care for. However, he states that he is fairly happy and believes that taxes are too high.
The man that makes $250,000 a year is interesting to me because I think he represents the way that many people are managing their money these days. Rather than putting money away for college tuition and retirement, people are reinvesting their money to ensure the biggest returns. The man who makes $1,000,000 a year is a good example of someone who is potentially not using their money to its full potential. Though we look at this man as responsible and caring, if he invested more of his income on a regular basis, he would be doing more for the present economy. However, he does not have as large of an incentive to invest since his annual income is so large compared to his expenses.
ReplyDeleteDefinitely a cool article. It's interesting how each person said they were for the most part happy with their life, and yet each wanted way more money than they were making to live the life they wanted. I think it just goes to show that you can never really have enough money. Like the $250,000 man said
ReplyDelete"At this point in my life, if I had $600,000 yearly income, I would have the life that I want to be living. But then again, when I get there, I'll want to buy the jet."
I think it's a good lesson in budgeting though. I was impressed with the first two especially, they were really on top of all their money, their expenses, goals, incomes, retirement, etc.
I found this article very interesting and I was surprised by some of the view points and situations of each man. For example the most interesting for me was seeing how generous and understanding the man making $1,000,000 was. Like Rachel I expected him to be a little more pretentious and against his higher tax rate. However it is interesting that he was much more down to earth than the man making $250,000, who does not even have a college savings account for his son and has fifteen credit cards. However, I also found it interesting that he was ok with his tax rates. I really like his quote from his boss "You guys complain about the taxes being taken out—if you don't want them to take that much, just make less."
ReplyDeleteAfter reading this article and the different situations, I think that while income level is an important factor in how people act and spend their money, I think personality and individual backgrounds are also important factors.
The quote that "if you want to get taxed less, make less money" really stood out to me. It seemed that the more affluent group was not angry or concerned about the taxes they were paying. On the contrary, the two men with lower earnings felt there taxes were too high. It goes along with the idea that tax breaks of the past really haven's benefited the lower classes.
ReplyDeleteWhat an awesome article. It is so eye opening and almost reassuring that it all depends on your outlook on life and it can change everything. The man who is making $7 an hour makes an incredible point that they don't think about all of the things that they can't afford. What would it be like if we all thought that way?
ReplyDeleteThis is really a thought-provoking article to me. I think the sample size is too small to say how well each individual is representing the group of people from the same level of income, but this article made me think of my life goal or how I evaluate my current life.
ReplyDeleteIt's interesting to see that all of them graded their scale of happiness between 7 and 9. This just speaks to me that not everyone can be 100% content with their lives and nobody really thinks that their life is too miserable. It really made me ponder how people eventually need to negotiate in their lives between what they want and what they can have. The guy making 250K is worried about money every single day, every single minute, and the guy making 53k said that money is something that he doesn't stress over.
I found it really upsetting to see the differences in wants and needs between each individual. At the wealthier end of the spectrum, the men wanted certain things that are generally superfluous, whereas at the lower end of the spectrum, the men just wanted items that would make their lives as parents easier. I was also surprised at the selflessness of the wealthier individuals. Neither thought that the tax rate was too high for their incomes. I suppose that when you're making enough money, none of that really matters.
ReplyDelete