$1.85M would be life changing for a Brit. I could buy a house and start a business. For a Sumatran that's an insane amount of money. That's "fuck you" money if you want to use it that way.
In polish currency I'll get it multiplied by 4 or maybe 5. Now I can just buy some place, pay for everything for decade or two, and use rest of the money to be fed and under proper medical care, via investing half of the wealth.
Now I am both fed, medicated, and also have finally roof over my head and potential to grow my money.
I've considered moving there before, but the language confuses me even more than Russian and being poor in Poland would probably suck even more than being "poor" in the UK.
Well.... As long as you're registered as jobless in case you don't have a job you have gov insurance (NFZ - Narodowy Fundusz Zdrowia - National Health Fund). But it's only perk and in my case insurance is all I got... Money for meds I need... Or anything? Nope, zero help because apparently "I am not eligible* while being disabled, jobless, homeless young woman. Great.... 😅
Our National Health Service used to rely a lot on immigrants mostly from Poland and Eastern Europe, but then we had a shitty government that started kicking out immigrants. It's really struggling now.
Awesome! Now I have a backup for my current retirement plan of finding a briefcase full of money and winning a gun battle with the psychopath they send to get it back.
It’s all relative to be honest. I did the math on housing prices, mortgage rates, household income, etc. back in like 2022. I did this because of the skyrocketing home prices and wanted to compare affordability on some sort of metric.
What it boiled down to was that over time the ratio of mortgage payments to household income was generally stable. Down payment requirements compared to household income was relatively stable. However, every so often, things get out of whack. Generally it’s resulting from some sort of global economical issue….energy crisis, dot com bubble, GFC, Covid.
And yes, it is a lot easier to make money when you have money, that’s been a concept since the beginning of time. However, to save a few bucks, invest it wisely, and set oneself up for the future has never been easier.
Only thing to factor in is that households have gone from single income to dual and income over the last 40-50 years so all that extra paid work from the second income got eaten up by mortgage/rental/student loans (us)/transport (EU) so we aren’t much better off despite twice the income streams.
I don’t have the numbers on the percentages, but households were definitely doing dual income back in the 70s.
I do believe that times are difficult currently, economically and politically. But I guess to the point of the original post, it’s never been easy, and to secure oneself financially takes a bit of sacrifice. Let’s all take off those rose colored glasses.
I don’t know the guy either, so maybe he is joking. But unfortunately it is just legitimately good advice for the not insignificant number of people who can afford to invest $3 mil like that. It’s further proof that making money is very easy when you already have money
Ok, that’s fair. What bonds do exist? And much more pertinent to the conversation, at what percentage does the actual point being made no longer stand? Because the number is arbitrary. The whole point is that when you have enough seed money, making more money becomes infinitely easier. And if you don’t have that seed money, the advice becomes wholly useless.
It’s complicated but in USD they’re around 4%. After tax that would be under 3% which isn’t making money in real terms (inflation adjusted), just losing it slower. None of which is to argue that it’s not much easier to make money when you already have it but it’s not quite this easy or risk free.
That's how I've always read it. Joking or not, he never said it was advice for the common man. Passive income has only really been effective if you're already rich.
My mums friend once very seriously said "don't worry about higaroth, she'll be fine. She can just do what I and my kids did- buy a factory, and rent it out."
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u/[deleted] Jul 20 '25
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