6% Of Black Americans Make $100K or More

[Vandelay]

That much for a car note is wild. The average car note in the US is $735/month. You can still get a used reliable car for less than $400/month like a Camry or an Accord. Folks just want to stunt and think IG is real life. That's the main problem. You got nikkas making over 100K talking about living in poverty. bytches on social media who make 6 figures crying that they can't live like their celebrity idols. Whole fukking society got dumber with social media.

I was talking about all-in costs; note, gas, insurance, but the used car market has been shyt these last few years though. And don't let your credit be bad on top of that.

[HUMBLE]I'm in that 6%[/BRAG] and my car is paid off, but if I had a note right now I'd be broke AF too. I don't have no bad habits or luxury tastes tho...I'm just bad with money and in a lot of debt, but i maintain.

 

[GhostfacexDOOM]

It's only right..... 6 foot, 6 certs, 6 figure, 6% gang

 

[Insensitive]

idk.
I only have five sources of debt (I know where all of my debt is at any given time).
Car note - Will be done by the end of the next year.
Personal Loan. - Will be done by next summer
Credit Card. - by the end of this year.
Education. - Not paying this off right now, I'm in school.
Home loan on Investment property. - Paying this down with my tenants money.
Knowing your debts.
Knowing your credit score.
Saving a lot of money.
Knowing your networth at any given time is incredibly important, you need to be cognizant of this.
(I'm approaching $200k as I said before, obviously the market is taking a hit but whatever, I'm getting there at SOME POINT).

For anyone on here who doesn't know their actual networth right now I recommend:
Empower - You can track assets you own, your retirement account balances, all outstanding debt etc.

I would also recommend
YNAB (You need a budget) - You should have budget, I've been slacking all year but I'm tightening up because I don't want to wash out
if I'm hit with an unexpected business expense (which is very likely to happen).

Also if you decide to diversify and get out of JUST owning stocks.

GET A fukkING ATTORNEY.
GET A fukkING ACCOUNTANT.
GET A fukkING LLC.
And make sure all of these are in order as you scale your real estate venture.

Don't go into this shyt lookin' dumb because you aren't paying your property taxes or you aren't deducting
things that you SHOULD be deducting.

 

[Kano]

I make 6 figures. I’m in the Midwest so it’s a lot for my wife and I. It depends on where you live though 100K in Boston, Miami or LA wouldn’t stretch as far.

 

[Gold]

I dunno. I have had the same house and car prior to me hitting 100K as I do after surpassing that number.

Yeah, but you could afford a nicer one likely if you were to move or trade in

 

[ChatGPT-5]

Year of data?

 

[ChatGPT-5]

He said PEW research

This is likely referring to Individual Income not household income.

I just asked Chat Gpt:

Only about 15 percent of Americans earn at least 100k annually individually.

Of that 15 percent only 6 percent are black.

so almost half despite being 13% of the population?

 

[num123]

so almost half despite being 13% of the population?

No, 6% of the 15% are black.

 

[ChatGPT-5]

Of that 15 percent only 6 percent are black.

No, 6% of the 15% are black.

The phrases "15 percent, only 6 percent are Black" and "6% of the 15% are Black" are not the same and have different meanings:

1. "15 percent, only 6 percent are Black" implies that out of a certain total population, 15% belong to a certain group, and within that group, only 6% are Black. This doesn't specify how the percentages are related directly to each other in terms of subsets.
2. "6% of the 15% are Black" means that within the 15% group mentioned, 6% of that group specifically are Black. This is a more precise way to indicate that you're talking about a subset of a subset.

who is right and who is wrong?

 

[num123]

The phrases "15 percent, only 6 percent are Black" and "6% of the 15% are Black" are not the same and have different meanings:

1. "15 percent, only 6 percent are Black" implies that out of a certain total population, 15% belong to a certain group, and within that group, only 6% are Black. This doesn't specify how the percentages are related directly to each other in terms of subsets.
2. "6% of the 15% are Black" means that within the 15% group mentioned, 6% of that group specifically are Black. This is a more precise way to indicate that you're talking about a subset of a subset.

who is right and who is wrong?

2. How it "Of that 15% only 6% are black" statement confusing?

 

[ChatGPT-5]

2. How it "Of that 15% only 6% are black" statement confusing?

not really. but 6% of that group, is still interesting considering the population size. just need another 6% to match the demographics.

 

[MostReal]

Just 6%

That can't be true, I know too many black people making 100k

 

[Dameon Farrow]

The most amazing thing online is people's full blown obsessive belief that exceptions are rules. I am sure we all know a good amount of people making more than 100k. I know some, too. But I know waaaayyyyy more that clearly don't. I don't know them personally but I interact with them daily. Servers. Stockers. Cashiers. Gas station clerks. Grass cutters. Construction workers. That list can go on and on and on. 6% likely isn't that far off the mark.

 

[Primetime]

I'd say if you're single and make over $100k/yr you're comfortably on the higher end of middle class.
When maxing retirement accounts, buying property etc. are things that don't squeeze you, you're in a good position.
I'm not totally there myself because I have some things to pay off but once that is done I'm effectively a approaching an upper middle
class person.
At that point, I don't have to choose between my future and now because I get to enjoy both.


Though I truly feel upper middle class, "elite" starts around $180k- $200k (for reference, the woman I'm currently speaking to
is in this range and is only in her first year as an attorney 1 at a nice law firm, if she stays and promotes up, she will comfortably
surpass my lifetime earnings unless I somehow luck up into a Vice President position in my current field).

If we date seriously and combine our incomes, we'll be an upper middle class/wealthy black family and she'll be the breadwinner
something I'm fine with tbh.
I like these wealth conversations because

Just reminds me of where I'm at and what I need to do to get to the next stage.

So this was dope to me because you and I are in somewhat similar situations, even tho thru different paths.

Spoiler

I was making 100k a decade ago in the states as HR personnel but took a job abroad for this large petro company a handful of years back. My current total package (pay/bonuses/stocks/matching 401k, etc) totals to 220k/year but i'm also tax exempt and my living accommodations are paid for. Basically i save a lot, and i'm not a supervisor, manager or director. Just senior personnel.

However, the chick i'm dating (from Toronto but also abroad, nearer to me) is an attorney for a top law firm. Her total package is closer to 250k (tho she works sweatshop hours for it) and similar to your lady, she still got promotions ahead of her. If it works out between me and her, she'd be the bread winner. I'd probably have to be a HR director of a FAANG or Mag 7 company to fukk with her future bread.

Now i don't tell her this but I see it as healthy competition because i do have the liquidity she doesn't have (her firm doesnt pay for her accomodations and she lives a fancier lifestyle), and i'm always exploring investment and real estate opportunities to maximize my dispossable income. What you have with your rental properties is something i aspire towards.

 

[Ugo Ogugwa]

When you find out on the humble, you part of the Tethered Tenth.

Fixed det for ya, boss