The difference between being a millionaire vs. billionaire

[@sabor3541]

We lump rich people into one category bc we’re broke and cant relate😂😂😂

[@botanicalbecca8443]

💯😅

[@dvnstwrt00]

Exactly. 😅

[@noahpowell5477]

Like I don’t even have the 14,000

[@sabor3541]

@@wizard8437 yeah ur right but its clearly a joke lmao

[@dancingram79]

😂😂😂

[@douglaschester2097]

“This is why you’re in debt”

[@douglaschester2097]

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[@douglaschester2097]

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[@douglaschester2097]

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[@douglaschester2097]

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[@stretchopotomus2385]

I love this. A millionaire telling us common folk that millions are nothing because billions exist. 🤡

[@sikelogist]

Little did they know that a million bucks could turn someone's life (on poverty) around.

[@FlightX101]

Shes literally correct lol. I work for an investment bank and the lifestyle between a new millionaire and a seasoned billionaire are two different worlds. The majority of people can reach millionaire status given that they save and invest.

[@iamliljeffie2305]

@@sikelogistPeople in poverty could benefit, but if history serves as a reminder those million dollar lottery winners usually proof the opposite either drowning in further debt to keep up with there new lifestyle but same poor tendencies as before, or they become depressed and end themselves, unfortunate truth, although there definitely are some that could benefit.

[@AvionfromHell]

@@sikelogist poverty is a mindset. You can give someone in poverty a mil and they’ll be right back where they were because lack of financial literacy. Poor folk are blessed with bags all the time they just don’t know how to grow it.

[@BTrain-is8ch]

@@iamliljeffie2305 I saw a study recently that claimed nearly half of the people in the US with a six figure income live paycheck to paycheck. It's overdue that people admit that cash flow isn't the issue. A million dollar gift would only modify the life of the type of person that doesn't need a million dollar gift. Everyone else's most likely outcome is a year or a few of extravagant living followed by ending up right where the started.

[@brrrr9165]

“Don’t pick on me, pick on them”

[@TheDryDown]

Exactly. It’s ok for her to scam her followers but Elon Musk actually building stuff, yeah he’s the problem.

[@oylene]

@@TheDryDownsaying that as if elon musk doesnt ever scam customers is laughable

[@TheDryDown]

@@oylene how has Elon scammed his customers?

[@oylene]

@@TheDryDown technology that constantly over-promises and underdelivers (for example all the autopilot mambo jumbo), sneakily promoting certain stocks/crypto coins to his twitter audience, the whole thing of paying for verification on twitter just to make the user experience worse and worse each time, the whole hyperloop thing etc

[@oylene]

@@TheDryDown also he is literally a car salesman which isnt really a group of people that is popular for being honest about what they offer

[@stanable9716]

THANK YOU FOR THIS! When people say "eat the rich" they mean people like Bezos or Musk. Not a lawyer/doctor that tends to be well off.

[@crazy4beatles]

yup. Unfortunately the lawyer/doctor erroneously identifies more with the Bezos/Musk and a lot of them torpedo changes in taxes against what would actually benefit them

[@karbonkillershorts8551]

Musk is good why him?

[@natasha_lorensky]

​@@karbonkillershorts8551lol

[@jesseh998]

@@karbonkillershorts8551hes making brain chips that’s just wrong and evil

[@Chopscrewyyy]

​@@karbonkillershorts8551Elon Musk isn't that good.

[@3katfox]

The fact that "Millionaire" means financially stable is still kind of a huge problem because becoming a Millionaire is still out of reach for the majority of people, and so is being financially stable

[@Leto2ndAtreides]

There were 22 million+ millionaires in the US in 2022. If you live in New York and get a decent house on mortgage, you’ll likely be a millionaire eventually just from owning the house.

[@jennielin508]

I think it's more attainable than most people think. Its not as glamorous as we think it is, it will take hard work and doing weird stuff sometimes (not behaving like the average person), but it's possible. Take a listen to Dave Ramsey. They talk about 'everyday millionaires ' and they are teachers, accountants, etc. I think seeing what's possible makes ot easier to get past this mindset that 'that's unattainable', abd helps you set goals and dreams. At least thats what it did for me. Also inspires me to work harder

[@jamescliff8038]

Hard and out of reach is two different things. You want to live an easy life you get their the hard way

[@3katfox]

@@jamescliff8038 99.9% of rich people get there by being born into it. Stop buying into that propaganda like a fu*cking pleb

[@3katfox]

@@jennielin508 Dave Ramsay is full of sh!t

[@Rapha187]

This makes more sense: Most people don't realize how significant the difference is between millionaires and billionaires. To put it in perspective, a million seconds is 12 days while a billion is 32 YEARS

[@seymourjackson9777]

Good analogy

[@wlkbeastmode-issiap.346]

😮😮😮😮 WOW

[@alionintights4074]

DAM

[@10RexTheWolf01]

A lot of money is still a lot of money. All together we only see people who don't care about bills and things cause they have plenty of throw away money. Meanwhile everyone else has to be more mindful about it.

[@YashVardhan_Singh_Rathore.]

WTF!!!!

[@Jennapeters144]

I currently have 4500 shares of SCHD! My goal is 5k shares. This is my retirement plan!! My portfolio consists of 200 voo 200 vug 150 vgt 4500 SCHD! Is the future bright or not?

[@Muller_Andr]

Bother less and enjoy the time you have left.

[@Javier_Rodri]

the size of your retirement portfolio will overwhelmingly be a function of the performance of the stock and bond markets between now and when you start withdrawing from it.

[@westgibbs]

You need a third party to help you out. A financial planner or accountant can run through your figures, including your projected income and expenditures when you retire, along with your retirement goals, your emergency fund and any other strategies you need to put in place for such things as long-term care.

[@AnkurYo]

I have seen a lot about FAs and actually want to consult some pro. How did you go about it? Is yours any good?

[@westgibbs]

I have saved myself from all the hassle that the chaotic market causes. These days the best way to come into the market space is seeking guidance, due to side hustles i can’t handle my portfolio so i just work with LOREN LENA WALKER, a FA i came across via a recommendation from one of these KZbin retirement coaches. It’s been smooth since then. Cliche as it may I have made a mark up of 70% in profits investing 350k under her. It helps not to be worried about your portfolio every minute of the day

[@davidbolduc4378]

Another way is to use time. There's 86,400 seconds in a day. 1 million seconds is roughly 11.57 days. 1 billion seconds 11,574 days. Which is almost 32 years. So, yes there is a monumental difference between a millionaire and a billionaire.

[@perperperpen]

another way is simply to understand that a billion is 1000x more than a million. that should already put it into perspective. a millionaire to a billionaire is 1:1000.

[@dwa3210]

This equation reminds me of that Justin Timberlake movie where everyone operated on time instead of money.

[@vivi-ws9yl]

That helped me a lot more damn

[@xpicklepie]

31.7 years vs 11.57 days.

[@patientlips]

@@dwa3210 what movie is this?

[@BetterMe981]

When you're poor or even middle class, there's no difference at all between a millionaire and a billionaire.

[@alexusjames6768]

Couldn’t agree more, I think she missed this point entirely.

[@Vivi-mp9nn]

Yes there is because you can technically earn a million w/o being a psychopath asshole, for example influencers don’t necessarily exploit people. But there is NO WAY to become a billionaire, w/o exploitation thousand, MILLIONS of people! All their profits are just the wages they don’t pay their workers

[@maddiesmenagerie8853]

You can become a millionaire on your own if you put in the effort to go through medical school and do something like radiology. It is technically doable for anyone. Shame people can’t realize that.

[@thesnowman2509]

@@Vivi-mp9nnare you dumb. Elon musk takes a salary of $0 from his companies. It’s called stock shares

[@CiciChess]

​@@maddiesmenagerie8853except for homeless ppl, or less extreme ppl that can't afford college maybe. Maybe I'm nitpicking but I don't like the term "anyone can do that" when ur referring to middle class. I'm not saying no poor person can do that, but if you're rly poor u have to get REALY lucky for u to do radiology

[@lostledger]

"People richer than me shouldnt exist"

[@dr.bendover-md]

Literally not what she said, but ok.

[@Juspeachy13]

Hey bud, I never said that. My comment was that billionaires have more money than they will ever use. Your interpretation was off.

[@TheRealThanos55]

Yeah she's a lost cause. She sounds like Antifa.

[@freesatire]

L comment

[@stevenjohnson7214]

So many people don’t understand that most of the time that money is not liquid. That is not cash. It is how much their business is worth 😂

[@vickieherbert1384]

Or, their million dollar wealth is based on the current market value of their home, or how much equity they have, which can, and is, being depleted by the super rich, as I write. Unless one has a few million in liquid assets, they are next to be worth less than they think. It's happening now.

[@wellscaler6198]

True but truly rich people don’t purchase in “cash”. They have shell companies which take out loans using their paper worth as collateral. Or they hide money of shore and take a loan from a foreign bank which won’t be taxed because loans are not income.

[@TheFirstRealChewy]

​@@wellscaler6198 Is this really what people think? The money is tied up in business because you need to invest the money for it to make more money. Everyone should be investing or trying to invest. I use to think investing is something only the rich do, then I realized that's what you should do to become rich.

[@revege73048]

We can't help these people 😂

[@FunStuffBuddy]

$5 million is the new “millionaire” honestly

[@Ckawauchi35]

So true. My husband and I are worth $2.5M in our senior yrs and we don't think we will go a lot further than where we are now. We still comfortably live below our means bc we know that kind of money can be easily spent if we are not careful. It isn't worth like how it was 20 yrs ago.

[@FunStuffBuddy]

@@Ckawauchi35 exactly. I go by 3% withdrawal which is super conservative so $5 mill gets you $150k per year basically forever. It’s simple math. $30 (or even $40k at 4% withdrawal) ain’t a rich life! Lol

[@janiceg7661]

True!

[@Ckawauchi35]

@@FunStuffBuddy We now live on pensions and other minor funds bc we have no intention of spending that money other than buying a small property in Okinawa, Japan where we plan to home base soon. That money buys us financial security and freedom which contributes to our happiness and contentment really. We earned it!

[@blockchainbreakdown2009]

in 5 years it'll be 15 million

[@kyoukoujin]

I only flex in a Dollar Tree store. I don't look at the prices. I just shove them in the cart and go.

[@chenaim23]

😊

[@ItsAllAnillusion]

😂😂

[@jennyjenjen1633]

😂 yes, I'm rich there 😂

[@CEDL4072]

My kinda person lol

[@unidentifiable.individual]

Even still, that extra quarter be adding up and catching me off guard lol

[@johnjames502]

The old "im a good rich person, but the people with more than me are bad".

[@AlliYAFF]

Well said.

[@josenegrete3694]

This lady is delusional like Bernie Sanders!

[@FlightX101]

But she never said that? What video did you watch lmao

[@newdecca]

@@FlightX101you should listen her again.

[@PutThatonaPole]

@@newdecca you obviously didn’t since your making up words she never said

[@asihacraig4265]

If you work hard and have good morals, you should be able to stack your chips, and no one has a right to say you can't have it.

[@leerodriguez9564]

finally someone who says they're rich, I'm tired of millionaires saying they're "well off," "comfortable" or "my parents worked very hard" like just say your rich or from rich parents lol

[@MRkriegs]

she wants people more rich than her to not be able to exist. dont u find that interesting? shes a joke

[@divyasasidharan2960]

That's what ur tired off? Who cares what they call themsleves.. especially on a vdo discussing such an imp topic

[@Rlrlrl1962]

That’s a rude thing to say. No one should ever feel the need to tell to word that they are rich

[@ambersalert]

​@@Rlrlrl1962I was going to say, it's actually tacky for people with money to talk about their money. It's a socal/mindset thing most people won't understand. That's actually one key to keeping yourself well off. People with real money don't even talk about prices when buying things.

[@vivi-ws9yl]

I mean people will openly judge you and call you spoiled if you come from rich parents so it makes sense for them to feel the need to "justify" their wealth lol

[@sabrinamd96]

It is sad that a lot of people still don't realize how much money a billion is. No one needs that much

[@karbonkillershorts8551]

Money is a game to them

[@Ipromiseyounobodyismad]

So.. youwant them to give the rest of their hard earned money to people that wouldn’t do the same?

[@ceterisparibus8966]

​@@IpromiseyounobodyismadHow is it hard earned?

[@MAfanwoods37]

Who are you or anyone else to tell them how much they should have? They'll come after you and tell you should only have 500 or maybe zero every month after expenses

[@MAfanwoods37]

​@@Ipromiseyounobodyismadexactly fork over your money!

[@leighnachambers8141]

Everyone likes to "punch up" regardless of how much they make. "Look at them up there above me, THEEEEY are the inconsiderate ones, not me."

[@trattoretrattore8228]

Hoarding money is still better than hoarding food

[@Juspeachy13]

Billionaires have way more money than they can ever reasonably use. A young person can retire with only $5 million and still live well.

[@icetrip2417]

Fact

[@GG.510]

How young can you be to retire with 5m? Fuck I’d almost be there if I didn’t loose 1.2M this year 😢 no one feels bad for me tho. Even tho I chose to spend all my time working and earning while they lived life doing other shit. Maybe I should have too honestly. Bc after loosing so much it’s like I lost a year of my time which is really Fd up. Can’t ever get that time back….

[@na0mi2k]

"*only* $5 million"💀

[@TheFirstRealChewy]

Their money is tied up in a business that is paying other people a salary. If their money vanished, their business would vanish, and everyone's income would vanish.

[@Juspeachy13]

@@na0mi2k Pay attention to the context. Five million is a drop in the bucket compared to 1 billion.

[@azn2xcbbjai]

"don't attack me, the billionaires are the actual bad people" lmao.

[@kora4185]

Meanwhile the rest of the world looking at all first worlders like the cat zoning out meme 😅

[@madday9589]

That’s right but the way she said it was wrong. Billionaires aren’t bad because they “hoard money” most of their money is in assets but they’re bad people because it’s virtually impossible to get to that level of wealth without exploiting others and doing some wicked things + they have too much power and can control our government, meanwhile you could be a millionaire just by opening your own business or having a good job (ethical ways) and you wouldent have power government wise

[@Peepppinpppper]

@@madday9589yeah but most millionaires are not more ethical they just lack the creativity of the billionaires to really manipulate people the way they do

[@madday9589]

@@Peepppinpppper Thats true of some but definitely not all. I know some that are just very successful small business owners, they’re just very hardworking and don’t run over ppl. What you said could be said about poor ppl too

[@GetMeAThadCola]

Yeah I feel real bad for the millionaire sitting on the beach 💀

[@TheFirstRealChewy]

To be fair, she wasn't saying you should feel bad for her. She's saying she is doing great given her current finances. However, some people think being a millionaire is the same as being a billionaire. Being a millionaire means you technically have enough to retire in your location of choice. Having about $3 million greatly expands your location of choice. Most people can comfortably retire in any city with that amount and still have money to spend on wants. It doesn't mean you can afford afford a yatch, super car, and multi-million dollar penthouse in the middle of the city. That's something a multi-millionaire or billionaire can do. However, you don't need to be a billionaire to be able kick back and relax. In fact, depending on where you live, you don't need to be a millionaire. People do retire with $300K. The minimum bar for me is to have enough in investments to pay for food. If I can invest enough to accomplish that then that's more than half the battle. The rest of it is lifestyle.

[@jessica3218]

@@TheFirstRealChewy👍

[@a.humanrightsactivist]

@@TheFirstRealChewyI totally agree with you. I super saved from 2000 to 2019 in a Roth IRA to reach $108K. i separately bought a starter home in 2003. I changed the mortgage to a 15 year fixed rate and aggressively paid it down. I paid off my student loans in 2013! I sold my home in 2019 yielding $150K in tax free equity. I decided to use the Roth and equity to buy a $250k house 🏡 cash because I had unpredictable self employment and was offered a high risk, high fee mortgage by a fraudster mortgage sales person. Now I have enough money for food and don’t worry about the cost, though I typically frequent my local Indian lunch buffets. I took in a tenant who rents a room. I closed my business and got a work from home legal job. I am able to bank 3/4 of my $4,000 per month take home pay.

[@yolotiktoks3357]

The fact that 10% of people own 40% of the worlds wealth while some people can’t afford food is gross tho

[@TheRealThanos55]

They worked thair asses of while your mom and dad were cuddling in bed talking about Michael Jackson or the Kardashians. Leave the wealthy out of this. We all choose our paths in life, clearly you choose to be lazy/poor and not hard working.

[@jessica3218]

It should be illegal to be a billionaire because I doubt they need all that money for themselves but greed is so real. With that money, you can change the world but all just focusing on making more and more.

[@yolotiktoks3357]

@@jessica3218 seriously!

[@Jr.hyde23]

​@jessica3218 As much as I agree, nobody cares what people "need" it's only about what you can afford. A lot of people got iPhones, smart TVs, they eat fast food, buy multiple pair of shoes, etc. None of these are necessities, just things we want and we can afford 🤷🏿‍♂️

[@TheRealThanos55]

The poor should work harder for what they want. Majority of poor people are lazy and uneducated.

[@MadAboutBrows]

Glad to hear a "rich person" saying that 🙏🏻

[@actmrhata5079]

I’m not. She’s WAAY wealthier than most of us, and she’s literally throwing wealthier people than her under the bus but saying “I’m not THAT rich!” Girl yes you are. You are extremely wealthy compare to the majority of us.

[@Riskofdisconnect]

​@@actmrhata5079 what matters isn't that she has more money than most of us will ever see, it's the scale of it. People like her with millions of dollars often see themselves as separate from the working class because they can afford much more luxurious products, but they just like 99.9% of us would actually benefit from harsher regulation on the uber-rich. In a more specific sense it's possible and not even that uncommon for people to get millions of dollars without exploiting others or causing other people economic harm, think doctors, professional athletes, or artists. However it is almost impossible to become a billionaire without greatly underpaying workers and in most cases financially supporting sweatshops/slave labor overseas.

[@pix1943]

@@actmrhata5079Yes, she’s rich but her millions are not going to last her whole life time or even generations. While billionaires are set for life and their kids are set for life. She doesn’t have more than how much she’ll need like billionaires do.

[@metaknightmare1234]

@@actmrhata5079 she literally says she calls herself rich in the video? and she's right, theres nothing wrong with being rich within reason. millionaires and billionaires are not even comparable in the same ballpark but people act like theyre the same thing thats the whole point of the video.

[@beefortebrea9386]

We're gonna try to say that millionaires aren't rich now? Millionaires. C'mon now.

[@MysticOceanDollies]

That’s not what she’s saying. She is saying they are rich, but often millionaires defend billionaires thinking they are more like them when they are no where even close.

[@MRkriegs]

she is saying that people more rich than her shouldn't exist and smiling about it

[@beefortebrea9386]

@@MRkriegs she's also rich though. You people can't relate to her either.

[@beefortebrea9386]

@@MysticOceanDollies they're closer than 99% of the world's population to billionaires. So... yeah they're the same. It's so much money, you wouldn't even notice the difference if you one day just recieved that much in your bank account. This person is rich. Who cares how rich? Only other rich people gaf.

[@tateb3183]

To comfortably retire in today’s economy you need to have at least 1 million dollars. Are people who have invested just enough to retire comfortably rich? I don’t think so.

[@daysofcarnivore]

As an aspiring billionaire, I take offence to you saying I shouldn't exist.

[@jessica3218]

She’s right tho. It nauseating for a billionaire to exist UNLESS you help people and animals etc then you’re doing something right.

[@OKay-ox3kh]

If hypocrisy was a person.

[@dr.bendover-md]

Why? She’s right.

[@MultiKswift]

I think basing it on time is the best way to get people to understand the differences. Imagine one second is equivalent to one dollar. She says the average person's network is 14k which would be 3.8 hours. One million would 277.7 hours (or 11.5 days) One billion would be 27777.7 hours (or 31.7 years / 3.1 decades). So three hours for the average person, eleven days for smallest millionaires, and three decades for the smallest billionaires.

[@maneomoleko9710]

OMG...Thank you for explaining it this way.

[@river645]

Rich is a state of mind. I’m rich compared to where I grew up. I grew up being convinced we had regular summer “brown outs” because my family couldn’t pay the electric bill and they couldn’t shut it off in the winter but could in the spring and that’s how my family caught up on the bill. We were also told ghosts called the house phone because bill collectors called “800” numbers and we were told it said “Boo”. Go this day when I see an 800 number I call if a boo number. Being comfortable is about being wise with your money. This OP has great advice, not always for me but great for anyone learning financial literacy. Everyone can make changes to be comfortable. Rich is a state of mind. I remember the first time I went grocery shopping and realized I could literally buy anything I wanted and it wouldn’t lead to eating ketchup packets later in the month. A million dollars back then seemed like unlimited money, now I realize it’s not a ton of money. And honestly billionaires don’t have a billion dollars in the bank, they have it in assets. Focus on you, focus on your family and create generational wealth. Instead of tearing others down, build yourself up ❤

[@LaBoricuaOG]

UNDERRATED COMMENT!

[@WiolciaMrozowska531]

The quantity of capital you invest, though, ultimately determines everything. With a substantial start-up budget, you could be able to earn more, Its high time one stops relying on the govt with their daily built up stories to deceive the crowd. like haven’t they done enough..

[@tomaszcz_k]

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[@Windarti30]

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[@CharlesBWillz]

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[@samanthagray52]

People like Elon Musk help so many people in so many ways especially during national disasters. Dropping the kinds of cash most of us could only dream of having seemingly without hesitation while completely going unnoticed by the masses who still want to bash them for earning the money they have and saying they shouldn't have it.

[@pinkdiamonds9137]

You really don’t get it. If the economy wasn’t so corrupted by the 1% who exploit poor workers and cheat taxes, manipulating the system, the enormous wealth inequality and lack of opportunities wouldn’t exist, reducing poverty and removing the need for all these “philanthropic” ventures. No billionaire gets to that point by being ethical and paying their fair share. Without the MASSIVE amounts of exploitation and robbery from the poor working class majority, those 1%ers would never be able to accumulate those levels of wealth. It’s basic economics. Also, every act of ‘charity’ or ‘foundation’ rich people set up give them HUGE tax write offs and benefit them personally in several ways, otherwise they wouldn’t do those things, they would lose their wealth if they were truly being selfless and charitable.

[@Anastazka00]

Are you serious? So he is helping you? 😅 Most of his wealth is coming from gvm supplements that a regular person would never get. Suppoements that could be used in order to ACTUALLY improve life for all.

[@automaticmattywhack1470]

$50 million today is what $1 million was in 1900.

[@MaJetiGizzle]

Yeah, I completely agree with this sentiment and I’ve never understood why millionaires would consider themselves closer to billionaires than the average individual. Thank you for reminding us that the real issue was never “rich people,” but instead the billionaires we found along the way.

[@fluxrivals711]

Why are billionaires such villains lad, they just found a way to get money and kept doing it

[@MaJetiGizzle]

@@fluxrivals711 Being able to buy influence and elections that make your businesses profitable at the expense of everyone and everything else isn’t just finding “a way to get money and keep doing it,” it’s literally hollowing out society. I don’t understand how there are still dense people that don’t understand why/how that is a real problem.

[@fluxrivals711]

@@MaJetiGizzle mate just because Jeff and Elon had excellent ideas and worked fucking hard to make them work doesn’t make them villains, it just makes them powerful as they deserve to be, they will be able to change laws because the people who made them rich are now under their payroll, people get what they deserve, if you follow the education route and are average you can’t complain about an average lifestyle, if you don’t follow the education route and turn out to do shit don’t complain about when people don’t do shit. Your just complaining about it because you think that you deserve more than your worth and think that people shouldn’t run society when the rich with power are often that because they are simply smart

[@nottheone582]

@@fluxrivals711 its not humanly possible to accumulate a billion dollars through sheer hard work or innovation alone. it necessitates the pure exploitation of human labor, environmental resources or both. it's unethical in our society to do that because it causes harm to others and the planet.

[@usbackcountry]

Billionare, Millionare or Median Income. Who cares. What matters is: Your life is meaningful. You're healthy and happy.

[@qasimayub3910]

Becomes a millionaire Billionaires shouldn't exist 💀💀

[@dim9753]

Owning property is likely to make you a millionaire. Back in the day, a million was A TON of cash…no longer the case in 2023. Investing alone can make you a millionaire without too much work or without generational wealth. She has a point tbh

[@LaBoricuaOG]

IKR@@dim9753 ? It's so clear from the comments here who read "The Millionaire Next Door" or other similar books and who didn't LOL

[@boejiden7093]

A million isn’t a lot of money today.

[@hornetguy9063]

Bernie Sanders 101

[@moonlightfitz]

No one own a billion dollars in the bank. billionaires have to sell their company shares and paid debs if they want the money. Who will buy the shares? Yeah, ultra billionaires. Is a no ending game.

[@jones2277]

this is like comparing someone in a famine to someone middle class. that difference really doesn't matter to someone who hasn't eaten in months.

[@JordanShilkoff]

The difference between a million dollars and a billion dollars… is about a billion dollars😂

[@TimJSwan]

yup

[@Government-EconomicsTeacher]

It also depends on how you count wealth. You can be a billionaire but much of your worth is not sitting in a bank but is tied up in assets like property stocks etc.

[@cameronandrade2866]

They earned their wealth from working with the skills and knowledge they possess

[@Fee.1]

Ok so the “I’m a millionaire that wants to eat the rich” twist at the end was not expected. Everyone is a hypocrite I swear.

[@LaBoricuaOG]

she worked her butt off to make that million, just like many of us are, for others who didn't put in the work or got financially literate to try to take our money. F THAT. I'm disabled and I'm currently planning and working on my nest egg [FIRE plan, because of how fast my body is deteriorating] for when my body literally FAILS completely and I cannot do anything anymore even with voice recognition software and other reasonable accommodations under the ADA [I can't type or use my hands at all, even for basic things like cooking…]. So yeah. I DESERVE to keep what I worked so hard to earn, through LITERAL CHRONIC PAIN every single day. I was even denied for welfare or any type of govt assistance because I didn't have a kid / wasn't pregnant and had $5000 in an IRA. THAT'S ALL I HAD BACK THEN. What a joke this "social assistance system" is in the USA! it just props up lazy and entitled Welfare Queens/Kings and doesn't help the hard-working, even DISABLED, people who really need the assistance in hard times. So that's when I REALLY learned the reality of our world. The fact that none of you see that is very telling of the type of people YOU guys are. So either learn how to play the chess like many of us have been doing or GET OUT of the damn game.

[@Fee.1]

@@melc4308 uhhh why are you telling me that? I’ve got no issue with millionaires or billionaires etc. Maybe you misunderstood my comment? I’m not sure sorry.

[@hornetguy9063]

@@melc4308median net worth of a 65-74 year old household in America is $266,400. Being a millionaire puts you 4x better than the median household in the richest age demographic. You’d have to invest over $7300 a year at 9% APR to get to $1m in 30 years.

[@tateb3183]

@@Fee.1 you’re saying she’s a hypocrite for saying billionaires shouldn’t exist while she just clearly showed that she is much closer to the average middle class American than to Elon musk. How is it hypocritical when she isn’t even close to the people she is talking about?

[@Fee.1]

@@tateb3183 uh no. Elon is an insane outlier. This woman is literally in the 1% of earners and likely in the top 1% net income wise too, but regardless of the latter, she’s well into the 1% income wise so that’s complete hypocrisy on her part.

[@beee___]

I don't think anyone should tell anyone else how much money they should have.

[@mikey92362]

That's exactly what the government does. You're forced to tell them what you have each year. Then they take whwt they want and tell you what you should have.

[@yukikanegawa7470]

​@@mikey92362Do you know what tax is for? If you're upset you should look into what European countries who actually use their taxes to pay for their people's healthcare, schooling, and general welfare are doing. Also maybe look into how much the wealthiest people pay in tax in the US compared to normal people.

[@mikey92362]

@@yukikanegawa7470 Yes I do know what taxes are for. In our case they're to make politicians and their cronies rich. They're to give out special favors in order to get campaign donations and kickbacks and to buy votes from constituent groups. They're for redistribution schemes that keep poor people poor and dependent while making sure the rich are never threatened by industrious individuals in the middle class who wish to move up. They're to pick winners and losers so government can reward inefficiency and punish achievement. They're for building a police and surveillance state and an ever growing unaccountable bureaucracy. They're for sending overseas and meddling in foreign affairs where we have no business or right to meddle. Now do YOU understand what they're for? Or do you just blindly accept what you're told? I don't want my tax money to pay for any of that stuff. Where does it say healthcare in the Constitution? And I don't want anyone else forced to pay for me. Our country was founded when we revolted over a 3% tax on tea. This is not the agreement we had when we gave the power to tax to the federal government. But just FYI, I have no problem with state and local taxes. They can be as high or low as you like. My only issue is federal. I despise centralized power and central planners.

[@MrCaseydbarnett]

Billionaires are not “hoarders” because 99% of the wealth is in investments that are employing people and producing needed goods and services.

[@WoodyJ98]

You sure about that?

[@butchcoolidge2533]

Gee, how do they afford all the ridiculously expensive things and bizarrely indulgent lifestyles if so much of the money is going to their employees? Why aren't the employees all rich then?

[@talknscroll]

@@butchcoolidge2533 Amazon employs over 1.5 million people in various roles and of course a warehouse associate won’t be paid like an IT project manager

[@pinkdiamonds9137]

No one becomes a billionaire by paying fair wages and and being ethical or moral. Their wealth is built on the backs of underpaid workers, outsourcing to poor countries, shady financial practices and cheating taxes.

[@Anastazka00]

Elon is producing and employing ridicilously low amount of goods and employeers. He got rich out of gvm supplements. We would be better off using the money elsewhere

[@tompuijpeNL]

Billionaires usually aren't wealth hoarders but wealth creators.

[@AlliYAFF]

Thank you!

[@eduardomaldonado1647]

Many of the Super Rich people Billionaires and mega millionaires Acquire their wealth by Committing very unethical Deeds sometimes even illegal. The only reason they don't go to prison is because they establish a network of friends and family who are also in a position of power and they cover each others backs.

[@katies6401]

Agreed

[@sherik233]

They are definitely not adequately compensating for all the resources that go into them making their billions. 😢

[@dlg5485]

Good grief you can't be serious. Do you have any idea how much money US tax payers give to the billionaire corporate class every year? It's in the 10s of billions, in the form of subsidies, tax credits, grants, inflated contracts, etc. and they have the nerve to say we can't have a more robust social safety net because it's a "moral hazard" to provide resources to those in need. The billionaire corporate class controls every aspect of life in the US because they own government. That's why billionaires shouldn't exist...too much power. Democracy and plutocracy can't exist simultaneously.

[@nunyabiz2117]

a billionaire is a thousand times wealthier than a millionaire. A millionaire is one million times wealthier than a one aire So a billionaire is a BILLION times wealthier than 1 aire That's a million times a thousand. A billionaire is set for life a millionaire might be set for 12 to 25 years ... A one dollar aire is set for about 10 minutes.

[@DiseaPoto]

what is this supposed to mean 😭😭

[@doodiehutchison4463]

I like concrete examples, too, so I teach my students that if I had one million dollars, I could spend $1,000 a day for 2.7 years, BUT if I had a billion dollars, I could spend $1,000 a day for 2,740 years. That they understand!

[@stop08it]

@@doodiehutchison4463 that's a great example

[@nunyabiz2117]

@@doodiehutchison4463 thank you, I like your explanation! I should adjust my original answer to point out a billionaire is set not only for life by for about 20,000 years... Or is enough to have 200 people set for life I think

[@actmrhata5079]

Actually, a millionaire can be set for life too if they budget and live within those means.

[@AlmaMariaRinasz]

I swear, with each video I watch I ❤ your take on financial education and advocacy more and more.

[@riley4964]

Thanks for not being scared to talk about how much money you have. It’s so taboo, and so many people avoid the topic, but it’s so important and helpful to talk about

[@CaptainPlanet007]

“Well hoarded billionaires shouldn’t exist” Never take advice on being wealthy from someone who hate wealthy people.

[@I.C.Weiner]

So if i start a business it becomes successful and is now worth a couple billion dollars i am not allowed to own my business now?

[@blipblop92]

"Billionaires shouldn't exist" Communism has entered the chat..

[@JollyTSwift]

When someone dictates "this is the most amount of money you can have" it does not sound like freedom to me.

[@butchcoolidge2533]

Nobody's saying that. Pretty much every billionaire in existence has reached that point through illegal and exploitative means. Because it's impossible to actually "earn" such a bizarre and unneeded amount of money as one person. Tax evasion and exploitation of workers aren't great practices in my book, hopefully most would agree

[@JollyTSwift]

@@butchcoolidge2533 "billionaires shouldn't exist" is saying "you shouldn't be allowed to have a billion dollars" When you get rich, the name of the game is dodge the taxes. This isn't a hidden feature. Paying close to half your income to the government is straight theft. Imagine making 10 bucks and 5 of it goes straight to the government. Tell me how this is fair. People who are rich play the game dodge the taxes. You would too if your tax number was currently 10 times the amount you are currently making yearly.

[@talknscroll]

⁠​⁠@@butchcoolidge2533 just for the sake of argument, who should have Jeff Bezos’ money if not Jeff Bezos? Because Amazon employs over 1.5 million people and millions of people make money as third-party sellers on their site. If anything a billionaire can’t become a billionaire unless they enable other people to make money as well.

[@yukikanegawa7470]

Everyone should have the freedom to earn money but there's a difference when it comes to someone who goes out of their way to monopolize money and make it harder for everyone else to live and earn money. Defending billionaires is like defending someone who robbed your house and broke your leg then after buying out your job and becoming your boss called you lazy for limping everywhere and gave you a permanent 50% pay cut to compensate for the lack of productivity.

[@richardchristensen8031]

No billionaire has a money hoarding problem. They have a wealth creating gift. Thank you Besos and Musk!!! The world is infinitely better due to your respective hard work and innovation!! Thank you for using the resources you were given to better humanity!!!!! Shame on those who hate you when it was ALL of US that voluntarily GAVE you the resources you have so honorably earned. Thank you, value creators. Thank you! And, good video otherwise. Remember you are in the top 1% worldwide because the community valued your contribution to society.

[@Gxport]

I’m curious when people say that billionaires should not exist… how would we stop them from existing exactly?

[@Original_Tenshi_Chan]

Just when I think I couldn't admire you more, you go and say the sweetest things like "wealth hoarding billionaires shouldn't exists", and I swoon even harder.

[@izykyi9585]

IT IS IN COMPANY STOCKS!! If all billionaires gave all their money away, the whole economy would crash

[@JEREMY99218]

Billionaires don't "hoard" wealth. There is no such thing as "wealth hoarding billionaires". They don't keep their money in a vault like Scrooge McDuck. Their assets are helping other people build wealth and generate income. None of your problems are because someone else is a billionaire.

[@Peepppinpppper]

But she can hoard millions?

[@hornetguy9063]

@@Peepppinpppperthis is how simpletons work. First we let her define what is moral. Then we validate her POV based on her own subjective judgment. She acts like being “grateful” for being over an order of magnitude better off than a normal person her age adds gravity to her statement. She’s really just a hypocrite. Either she is envious about others or she just wants to take from some and dish it out to others, and then claim that she was the moral one

[@FreeToReed]

This was a pretty mind blowing demonstration thank you

[@leonproud400]

Translation - “People who have more than me are bad”

[@0scJohnson0]

In short, it’s ok for her to have more than others but not for others to have more than her

[@shanetaylor3087]

That's a good thing to say until someone comes after your money.

[@trofy]

I’m rich but people richer than me shouldn’t exist 😅

[@marge2980]

Yeah that's what i heard too

[@Emily-fm7pt]

Tbf tho there’s a MASSIVE difference… like millionaires are often just like someone’s dad with an ok job and a decent 401k match. Billionaires on the other hand are yknow, billionaires. Another way of thinking about it: I have an internship at a F500 firm right now, and I’d say about 50% of those over 50 in my office are “millionaires,” on the other hand we have NO billionaires in our company. Our CEO has just under $100 million. Ultimately people will draw the line in the sand wherever they want, but I think that there’s definitely a fairly large distinction between being fortunate enough to have a nice job and being fiscally responsible and literally being Elon Musk (or really anyone with $10-20 million)

[@kellen5545]

The current billionaires can easily get by with 900 or 800 million dollars. If they can't, then they clearly shouldn't be a billionaire or millionaire. The core problem is that the billionaire and multimillionaire classes have convinced Americans the myth of trickle-down economics. Plus, the lower classes don't want to be taxed if they "make it big" somehow.

[@ninchemarie]

millionaire is more feasible/attainable than billionaire. millionaire can likely work hard and save, buy a house and other assets and total up to a million net worth. (not saying it’s easy or even realistic for most people but just that there’s a way to become a millionaire by sheer “working hard” and “accumulating”) but it is impossible to become a billionaire without exploiting someone somewhere. and not even just like child labor which is awful in itself but like stealing business ideas, poor employee wages, monopolies, etc

[@Josie-6]

I guess you missed the part where she showed us exactly how far off 1.5 million is from 1 billion…. A rich millionaire is not remotely the same as a billionaire. She wasn’t comparing one million to five million. She was comparing it to one billion and commenting on billionaires.

[@TeganCantEven]

I really wish more people actually comprehended this. Anybody with enough hard work and good habits can actually become a millionaire.

[@esmy8053]

Did she really say billionaires shouldnt exist?

[@halo7077]

Honestly 😂😂

[@Beeontree]

They shouldn’t

[@halo7077]

@@Beeontree liberal

[@leftthatbehind6090]

@@halo7077 they shouldn’t ..

[@halo7077]

@@leftthatbehind6090 liberal

[@johnyoung9649]

So who gets to set the line? If we are going to say “tax billionaires out of existence”, what happens when we succeed? “Tax millionaires out of existence.” “Tax people with retirement accounts.” There’s no stopping when policies are based on jealousy.

[@valfreyaaurora4922]

Since everyone wants to go back to the 1950s… why not just set the tax rate back too. 91% would go a long way. That would leave a billionaire with 9 mil - still way more than enough and would contribute 991 mil to society for infrastructure, healthcare, education, and all the other things that people need

[@johnyoung9649]

@@valfreyaaurora4922 There are so many things wrong with your post that I don’t know where to start.

[@valfreyaaurora4922]

@@johnyoung9649 When the people have nothing more to eat, they will eat the rich. Start there.

[@johnyoung9649]

@@valfreyaaurora4922 OR they could try producing their own. But that requires them to get off their ass and work.

[@Rudzani]

@@valfreyaaurora49229% of a billion is 90 million, not 9 million. How about we start there, bud?

[@institches2750]

I know you know that there's no good way to eliminate "wealth-hoarding billionaires" when most of their wealth is a company and not actually MONEY. Not without hurting a lot of other people. So this sounds like pandering and playing on people's ignorance and fear to earn virtue points for yourself. Bad take, Vivian.

[@jillb9220]

Right! Does anyone ever think about how they use that money to buy and build businesses, thus providing jobs and resources for people? They are usually just smart and responsible with their money and people are jealous and can’t see the big picture.

[@institches2750]

@@jillb9220 My thoughts exactly. If someone goes after Elon Musk's fortune, it's going to be the employees of Tesla, SpaceX, etc. who get the shortest straw. Or average people with retirement portfolios. Musk will skip away and probably start another company with money other people begged him to take, hoping to get in on the ground floor of the next Paypal.

[@JohnHei-zx6rk]

Agreed 💯

[@lscott9263]

The same could be said of millionaires to the average person who has less than 1k in savings in America. Wealth hoarding millionaires shouldn't exist.. See how silly it sounds; give up your millions since wealth is a problem.

[@JohnHei-zx6rk]

@@lscott9263 👏

[@richsamuel2922]

"Wealth hoarding" suggests that there's a finite amount of money. When that's not the case, as banks CREATE money everyday.

[@kbtken]

I salute you for being the first person person I’ve ever seen make a KZbin video about money and honestly admit that they are rich. Everyone comes up with some false humility metaphor about how much money they have

[@eyekandy3000]

So you want us to feel bad that you’re not a billionaire and you’re only a multi millionaire? OK you got my sympathy, poor you 😔

[@theengineerchef8976]

Literally she is just jealous

[@JBall3]

When did she say any of that?

[@nkwetisamacyran1936]

😂😂😂

[@sbond7510]

Y’all are so weird on this app. Where did she say any of that? 🙄

[@tobblesmash6193]

“How much money does elon musk have” pretending as if his stock value is actual money he has…. Come on now

[@codyhill9349]

Right haha she’s says wealth hording as if he’s Scrooge McDuck with a vault full of money 😂😂😂

[@tobblesmash6193]

@@codyhill9349 the whole socialist movement relies on the public’s misconception of wealth and how net worth is calculated. It’s easy to look at a trillion dollar net worth with all those zeroes and think “woah he can solve world hunger”

[@gypsymoon246]

I totally agree. I also believe that in order to have the ability to raise up your financial success, you also cannot be negative towards those who do have money.

[@tateb3183]

I 100% agree. The thing is, if you make 1 million a year you can still come from a humble background, you are more grounded in reality and you can “make your way” to being a millionaire. There is no way that anyone should have a billion dollars, and there’s no way that they could relate to any person on an average wage.

[@MSRDinMS]

Billionaires shouldn’t hoard wealth? They should if it’s their money.

[@yeezet4592]

Stolen money

[@WoodyJ98]

Why don’t I just hoard all the water?

[@jemappellemerci]

…people are starving

[@jemappellemerci]

It’s literally impossible for them to use all that money. Why would you just keep it? If there was a yearlong total lockdown (which you know will end in no longer than a year), and you had 100 years worth of food KNOWING that people are starving, would you not at least share like 3/4 of it? Because even with those 25 years worth you still have more than enough. The other 75 years worth is simply excessive and It’d be selfish of you to keep it, wouldn’t it?

[@WoodyJ98]

@@jemappellemerci its modern day feudalism, and we are all serfs. All they do is invest the money, and employ children in terrible working conditions oversees. If the billionaires funded more livable jobs, then I would feel more sympathy for them. But our lives are pretty much dictated by them

[@dawnt5587]

Wealth hoarding billionaires shouldn’t exist? If we can tell them what to do with their money, that rule should apply to everyone. How would it be if someone told you how to spend or save your money?

[@JohnHei-zx6rk]

Agreed 💯

[@KevinT7274]

Vivian went off the rails at the end of that video. Should 'wealth hoarding billionaires' be executed? What do you mean by that statement?

[@JohnHei-zx6rk]

@@KevinT7274 My thoughts exactly.

[@KevinT7274]

@@JohnHei-zx6rk It's too bad because Vivian has a good message. But she loses people when she says something foolish like that.

[@JohnHei-zx6rk]

@@KevinT7274 I agree with you on that. She has so much good content that is helpful and spot on. This one is off the rails and without merit. Unhelpful at the least. If her advice is for us to build wealth and be rich, if we become billionaires then we're wrong and shouldn't exist? Granted, I know statistically and realistically that most of us will not become billionaires, but the premise is wrong to degrade those who obtain that amount of wealth. I personally know a few billionaires and several millionaires and many of them are huge givers with a good heart and employ many people.

[@AndreaLikesMusic]

“Wealth hoarding billionaires shouldn’t exist” should be the biggest takeaway here

[@kirkbrooks9447]

I once heard it described as this "Picture whatever you think a 1-million-dollar pile of money looks like, now imagine 1000 of those piles and you have $1MM"

[@Foodofeden]

Jealousy isn’t a great colour on you

[@liampjarvis]

Brilliant video, thank you for clarifying that a billion is more than a million. I needed this!

[@aakankshajain8555]

As a teen who has “wealthy” parents, I can tell you that being “rich” doesn’t necessarily mean owning a private jet or a Birkin. It can also mean sending your kids to a good school or being able to go on vacation multiple times in a year. My family tends to invest more in experiences (like travelling) than materialistic things

[@religionofpeace782]

In todays day and age...a millionaire is middle class but a billionaire as always has been the ultra rich class.

[@rmatakovich]

I think that your comment was very prejudicial. Mr. Musk, agree or disagree with him EARNS his money just like you or I do. He may be saving his money to do even greater things. Things that you or I would love to benefit from.

[@JohnHei-zx6rk]

Agreed!

[@sweetillusions5495]

Apartheid Clyde didn't earn shit hun and you're simping for a guy that effectively failed his way upward due to being born into money.

[@jenniferdineen5254]

Preach sister. I find your content so balanced and full of common sense. Thank you!

[@TheFirstRealChewy]

When you get to $1 million after many years you realize that people who have $10 million and more likely inherited money, have or had a business, made a lot of money in their career, invested very early or are old. It takes a long time to go from $0 to $10 million much less $100 million. If you want to compress that time you need to do something that brings in a lot of money quickly. Another thing to realize from all of this is that wealthy people don't have all of their wealth sitting as cash in the bank. Most of it is tied up in investments.

[@kendrascorner]

Billionaires have every right to exist... Nobody should be "not allowed to exist" because of their financial status. Furthermore, billionaires earned their money with hard work, good ideas, innovation, management of investments, etc. Also, billionaires statistically are the biggest philanthropists there are... So... Generous, not necessarily wealth hoarding. Do they manage to leave an inheritance to their children? Of course. If they didn't, they wouldn't be very wise, would they? I wouldn't be making this comment if she didn't say they should not exist. Signed, not a rich person.

[@amberworley4950]

Wealth hoarding billionaires shouldn’t exist? Shouldn’t those billionaires who made their way get to decide what is done with their money? Also, these people aren’t sitting around with billions of dollars in their Chase account. They took the thousands they had and invested it which grew to millions which grew to their companies which they then invested their millions into their companies and became billionaires. They are business people by trade. Anyone with that kind of money deserves to do with it as they wish. If they want to distribute it to those without, that should be their decision not the government.

[@MRkriegs]

no these lefties should decide what to do with other peoples money lol but they get to keep all of their own money ofc

[@WoodyJ98]

Why don’t we get to decide what is done with out money? We have to pay taxes, and we can’t afford tax accountants to get outside of ir

[@eloisedoolightful3233]

Love how people always put the cut off mark right over their heads, ...might be rich but not smart enough to know that once they come for them, that will run out and then they will come for you. It's like that poem goes.... they came for them but I didn't say anything because I wasn't them, but then they came for me and no one said anything for me (paraphrasing )

[@SisterOfDeathInAK]

Way to equate wealth hoarding with a poem *famously* about the rights of minorities to JUST EXIST. Idgaf if the Sultan of Brunei is set for life. I care if his 4th superyacht costs more than providing for his community's food scarcity and uses up the resources needed to build affordable, livable housing. edit: added back words lost from formatting

[@eloisedoolightful3233]

@SisterOfDeathInAK a decade ago Venezuela was the 3rd most booming economy, then people hopped on the same bandwagon you are on and now they are eating their pets and paying traffickers to get them to America so they don't starve to death. So far, every country that had the same idea you have had lost all their freedoms and in complete control of someone else. Learn history, speak to people risking their lives to get to America, and stop drinking the kool-aid. That poem IS revelant and anyone who's lived through socialistic ideology will tell you the same. Good day

[@andrewcaicedoortiz3397]

​@@SisterOfDeathInAKThe difference is that he uses money from the country. However Bezos' yacht is paid for by himself and not taxpayer money

[@erinstone5307]

That last sentence!! 👏🏽🙌🏽🙏🏽

[@olzt100]

Most billionaires have market value wealth from things such as stocks. Actual dollars, most billionaires are just higher up millionaires. If Warren Buffet has 5 billion in stocks and the SEC allowed him to sell it all in three weeks he would likely get 1.5 billion or less as the stock value would continue to drop as he sold off the shares.

[@theGEnericE]

If you work hard for your money, it's yours. Period.

[@totallysawthat]

There is the assumption billionaires are hoarding that money when it typically exists in the economy. They should exist but it eventually leads to a monopoly which is the problem.

[@SisterOfDeathInAK]

This sentiment is the underpinning of Trickle Down Economics, which has been proven to not work on the macro level. It benefits a small portion of economic actors while not benefiting the majority of actors. Most of that money exists in luxury goods which do not infiltrate the economy in the same way that consumer goods do. Or it's in some investment scheme building more and more zeros, with little actual impact. It's been proven that if you give me (for example) $10,000 it will generate at least $25,000 in economic growth (I buy groceries, IGA pays workers, workers buy clothes....). Give $10,000 to someone who is at the billionaire level, it isn't noticeable and generates less than $12,000 in growth. {It's been a while since my econ degree, so numbers may have shifted w/ inflation).

[@yeezet4592]

What

[@nottheone582]

wealth accumulated to one individual represents resources not available for others to use. this means less food, shelter, energy, water, housing, etc. for everyone else. its unethical to hoard that much wealth because it deprives others.

[@aliakapoor]

ofc, there's a huge difference, you'd need a 1000 millions to be a billionaire but if you are a millionaire or better yet you consistently make 1 million or close to that amount, you're pretty damn lucky and in most cases you've worked hard for it so enjoy your life. also, I don't think Elon musk or bezos just have billions of dollars lying around, net worth isn't the same as income, granted they're still fucking rich but its their huge businesses that are making the money, businesses which also require money to make that amount of money. all I'm saying is that try to look on the bright side and make the best of what you do have. do things that you love, things that are important to you.

[@richardeldridge8335]

Billionaires don’t horde wealth, they create it.

[@Mn54bu]

Great analogies ❤👍

[@israelweiss5644]

People should be able to keep the money they worked for.

[@SweetStuffOnMonarchLane]

Yet, we all have to pay taxes for communal things like roads, emergency services, and educating children (even those of us who don't have any), etc. I just wish it was a fair, straight percentage for all. There's no damn reason I should be paying more in taxes than someone who makes many, many (MANY!) times more than me. THAT'S the problem.

[@sweetillusions5495]

Most of the time they don't even actually earn it and inherit it from wealthy parents lmfao. If your family lineage was rich in the 1800s there is a high chance they're still rich today, and same goes for the less fortunate who are effectively trapped unless you get a lucky break. It's more expensive to be poor than it is to be rich. Billionaires are usually such due to unethical or shady methods anyway such as overseas sweat shops, money laundering, or tax evasion.

[@MeganJester]

Yes, while not profiting off of avoiding paying their employees what they are working for!! Billionaires screw others over to get where they are. It’s never just hard work on their part.

[@karleneamoth2649]

Those employees can leave and start their own billion dollar business. No one’s stopping them

[@MRkriegs]

that is not what the left or woke mob think

[@davidguva9842]

Nobody hates a billionaire like a millionaire

[@sarahh3320]

Summary: "Don't tax me I'm only✨ well off✨ Go after the people that worked harder than me! Also I don't know how assets work and that often times those billions of dollars are invested back into companies, economies, and communities."

[@ladyindigo1649]

Thanks for breaking that down. The water behind you is so pretty!,😊

[@Darthlauralou]

“You can’t do anything with $5 million” -Connor Roy 😊😂

[@justanotherweirdo11]

I also make a distinction between having a million and 100 million. A working individual could a a million or a few by 65. 100 million means you've got an amount of wealth that is basically unnatainable for the average person.

[@davidwallace9416]

"I condider myself rich, but hear me out, people richer than me shouldnt exist."

[@skeletoncrew539]

You failed to mention that 90% of Elon's wealth is in stock, do you think the government should take it away? Why shouldn't billionaire exist?

[@vulpixelful]

Earned interest can definitely be taxed. We're taxed on earned interest for _savings accounts_ even if you don't withdraw them. We definitely can tax their earned interest in stocks

[@beatricerights]

@@vulpixelful stocks are not the same as earning interest. Once you earn interest it's permanent. Stocks can lose value.

[@vulpixelful]

@@beatricerights So what? If billionaires sell losing stocks they can get a tax deduction. They socialize their losses but can't pay taxes on their gains?

[@skeletoncrew539]

@@vulpixelful There isn't earned interest on stock, sometimes there is a dividend but Tesla doesn't have one. Elon Musk last year paid $11 billion in taxes because some of options were about to expire so he had to pay the capital gains taxes.

[@vulpixelful]

@@skeletoncrew539 This is pedantics and you know it 😂

[@Josh_Alzamora]

The moment I started my business 3 years ago, I'm working from 4AM UNTIL 9PM on average. If I was to become a billionaire in 30 years, to let someone say oh it must be nice no dude, skipping meals to buy materials for the company or letting some entitled kid say you shouldn't have that much is stupid plain and simple. If you work for it you earned it. No one can put a cap on your hard work.

[@bloodstar6158]

You won’t be a billionaire and you’re living in a fantasy world.

[@drinkmehoe]

thats the problem, they dont usually work for it. its 99% nepotism and greed. if they earned it fair and square like the rest of us then there would be less complaints. they make us work for crumbs

[@cattywampusmcdoogle]

Billionaires hoarding money should absolutely exist.... don't be mad at them because they play the game better than you.

[@DolceFarnienteABC123]

I'm a billionaire and I feel much more confident now than when I was a millionaire.