- Sep 19, 2011
- 28,550
- 10,102
- 900
I am confident that most of you that hate and are jealous of the top 1% think the 1%ers spend all their money or they bury it in the backyard. I am sure you have no idea what comprises these "1%ers" assets.
First for those of you that can't be bothered with the facts here are 2 examples of ordinary people that
became part of the 1%ers!
Barrett Yeretsian, 34, lives in the southern California suburb of Glendale, CA in a totally non-descript condo — the same one he grew up in. Yeretsian says growing up, he was solidly middle class. His mom, a widow, owned an Armenian book store in Los Angeles, and money was sometimes tight. Scholarships and help from family got him through college at UCLA.
When he graduated, he turned down acceptance at two top law schools in favor of trying to make it in the music industry, as a song-writer and producer. After years almost making it, a few years ago, a song he wrote in his bedroom, became thissmash hit, Jar of Hearts, after it debuted on the reality show “So You Think You Can Dance.”
Literally over night, “everything changed,” Yeretsian says. Including his income.
That year he catapulted in to the 1 percent.
But, he says, tries not to live like he has. “Keep the overhead low. Enjoy life,” is his philosophy. (He was a philosophy major in college, and traces his non-lavish lifestyle back to reading Thoreau’s Walden.)
“Don't get me wrong, I go to Hawaii every year,” he says. And he’s bought several rental properties as investments. “Financially, I’m in a comfortable position. I think that's the big difference is you have that comfort.”
Or how about: Jason Laan is another recent arrival to the 1 percent, who made the leap after his iPhone app made it big. For him, the surprising thing about being at the top is that it doesn't always feel like the top.
“The 1 percenters we think of spend $10,000 on a commode,” Laan says. “
If you make $340,000” — the approximate household income needed to break into the 1 percent in the last few years — “you're not going to waste money on something like that.”
Laan says the year he made enough to qualify as a “1 percenter,” he asked his accountant about whether he should consider trying to take advantage of tax loop holes or off-shore accounts, to protect some of his money. His accountant laughed and told him he wasn't rich enough.
“You’re not connected enough to try to hide your assets in such a way,” Laan recalls his accountant saying. “You can’t afford the overhead.”
Making it to the 1 percent is more common than you think | Marketplace.org
BUT of course most of you that hate the evil 1%ers only consider the Trumps, Gates, etc. but the majority of the 1%ers are not what you people that hate them really are portrayed!
Even the left biased HuffingtonPost was surprised!
Where The 1 Percent Really Get Their Money
So that makes it a simple accumulation and not compensation/retirement!
First for those of you that can't be bothered with the facts here are 2 examples of ordinary people that
became part of the 1%ers!
Barrett Yeretsian, 34, lives in the southern California suburb of Glendale, CA in a totally non-descript condo — the same one he grew up in. Yeretsian says growing up, he was solidly middle class. His mom, a widow, owned an Armenian book store in Los Angeles, and money was sometimes tight. Scholarships and help from family got him through college at UCLA.
When he graduated, he turned down acceptance at two top law schools in favor of trying to make it in the music industry, as a song-writer and producer. After years almost making it, a few years ago, a song he wrote in his bedroom, became thissmash hit, Jar of Hearts, after it debuted on the reality show “So You Think You Can Dance.”
Literally over night, “everything changed,” Yeretsian says. Including his income.
That year he catapulted in to the 1 percent.
But, he says, tries not to live like he has. “Keep the overhead low. Enjoy life,” is his philosophy. (He was a philosophy major in college, and traces his non-lavish lifestyle back to reading Thoreau’s Walden.)
“Don't get me wrong, I go to Hawaii every year,” he says. And he’s bought several rental properties as investments. “Financially, I’m in a comfortable position. I think that's the big difference is you have that comfort.”
Or how about: Jason Laan is another recent arrival to the 1 percent, who made the leap after his iPhone app made it big. For him, the surprising thing about being at the top is that it doesn't always feel like the top.
“The 1 percenters we think of spend $10,000 on a commode,” Laan says. “
If you make $340,000” — the approximate household income needed to break into the 1 percent in the last few years — “you're not going to waste money on something like that.”
Laan says the year he made enough to qualify as a “1 percenter,” he asked his accountant about whether he should consider trying to take advantage of tax loop holes or off-shore accounts, to protect some of his money. His accountant laughed and told him he wasn't rich enough.
“You’re not connected enough to try to hide your assets in such a way,” Laan recalls his accountant saying. “You can’t afford the overhead.”
Making it to the 1 percent is more common than you think | Marketplace.org
BUT of course most of you that hate the evil 1%ers only consider the Trumps, Gates, etc. but the majority of the 1%ers are not what you people that hate them really are portrayed!
Even the left biased HuffingtonPost was surprised!
Where The 1 Percent Really Get Their Money
So that makes it a simple accumulation and not compensation/retirement!