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Comment by sombremesa | Hacker News Reader

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sombremesa·

> get their high wages

Wages? What are you talking about, the working class?

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Most of the people renting the expensive places talked about in this article are white collar workers.

Many rich people still earn a paycheck. YOu can be on payroll making 500k and have a stock portfolio worth 10mill, this is common for boomers who started investing in the 70s and 80s. A portfolio of that size will easily throw off 500k in dividends a year.

My point is that a large paycheck does not mean you are not paid wages. I get your point though, billionaires probably are not taking a salary.

>You can be on payroll making 500k and have a stock portfolio worth 10mill, this is common for boomers who started investing in the 70s and 80s. A portfolio of that size will easily throw off 500k in dividends a year.

What is your definition of "common"? Less than 1% of people have savings of $10M at retirement age, surely more than 1% of people started investing in the 70s and 80s.

https://dqydj.com/retirement-savings-by-age/

> YOu can be on payroll making 500k and have a stock portfolio worth 10mill Or working on FAANGMULAT type of companies for the past many years.

>A portfolio of that size will easily throw off 500k in dividends a year.

Where are you "easily" getting 5% dividends? Are those mythical W2 boomers suddenly into sketchy crypto "funds"?

Vanguards "Dividend Growth" fund is yielding 1.71%. Total stock 1.33%

Their money is also, ironically enough, invested in real estate.

ATT 7% yield raised every year for the past 50 years.

Thanks! I was imagining an actively managed portfolio. There are very few set it and forget it hole in one investments.

This is not common for anyone, not even in SV.

common among the rich people whose mansions are not selling well or have taken price cuts to get them sold.

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