Gates, Richest Man, Says $40,000 Goes Further These Days | Hacker News Reader

Gates, Richest Man, Says $40,000 Goes Further These Days

bloomberg.com

12 pointspetethomas15 comments

Is the reference to his wealth supposed to provoke a emotional response from me? Please tell me what to feel, Bloomberg.

This article seems to take what he said out of context.

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This is some privileged nonsense. You could easily reduce these expenses: internet TV channels could be equivalently found for $60/mo, T-Mobile offers a $30/mo cell phone plan, standard internet plans go for as little as $40/mo, CrossFit memberships are abhorrently expensive (plenty of gym memberships go for as little as $20-50/mo), and app purchases, SaaS subscriptions and food memberships are all consumer discretionary luxuries you choose to spend on.

You're right, these luxuries did not exist when your parents were around, but that doesn't mean other luxuries didn't exist or that they had a much easier time making the equivalent of $40,000 go further. It's called spending less than you make, and that is important at any income level, in any decade.

Take all those expenses and multiply by 4 people and you get the numbers I posted. I think everyone assumes I'm a single guy and not a head of a household.

"It's called spending less than you make, and that is important at any income level, in any decade."

While I agree with the rest of your comment, the inclusion of this bit bothers me.

I agree with the text of it, but the pragmatic role it seems to be serving - in response to "it was easier before" - is to proclaim that it is comparably possible "at any income level, in any decade", which is manifestly false.

Nobody says you have to pay for all that though.

He's definitely joking, right? Haha!

These can't seriously be normal prices, right? The costs for these in Australia would be closer to Cable TV $25/m or $50 with a sports package, Phone $60/m, Internet $60/m, Gym $60/m.

These aren't the budget options - the phone would come with an iPhone or Galaxy S6, internet has unlimited data for instance. And this is all with an Australian dollar worth 75% of the USD at the moment, and living in a country which is notoriously expensive. Not quite as bad as the Bay area, but Sydney, Perth and Melbourne are amongst the most expensive cities to live in the world.

American here, I don't pay that much. Netflix/no cable $8, phone is $90 for 2 phones (T-Mobile), Internet is $50 (50 mb cable).

it is 4 lines on T mobile for $150

1. You actually get to use and enjoy all those services. 2. You're significantly overpaying for your phone and internet, or at least you would be where I live, near Seattle. 3. Cable TV and Crossfit are bourgie luxuries when you already have broadband internet and a gym membership.

The biggest cost nobody here has mentioned yet is that real estate and rental costs have skyrocketed, so people now are paying (after considering inflation) 2 or 3 times or more what people did a generation ago just for the basics of having a home.

I updated the post. It is actually 4 phones for $150, which isn't bad for unlimited everything. Internet is definitely excessive for 300Mbps down...we could get away with a $30 plan, but $30 is still something you wouldn't have 30 years ago.

I'm sorry, but that's bullshit.

First, you don't really need any of those things. There are plenty of ways to exercise without cross fit and a gym. And in-app purchases? Really?

And then you've grossly exaggerated the prices of some of those. I pay $45 a month for unlimited voice, text, and data on an iPhone. And about $50 for 12 Mbps internet access with more or less unlimited downloads.

I'm not going to say it wasn't presumptuous for Bill Gates to say how far $40k will go, but there's not need to exaggerate.

Other than phone (which your parents probably did pay for) and Internet (they likely paid as much in postage to do things you'd do online today), those are all optional.

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