77017 Posted August 5, 2005 Share Posted August 5, 2005 Are any of u guys rich (monitarily)? If so and if its not too much .info, how did u make ur fortune? I'm fascinated by wealthy people and what they can buy, and I'm always inspired by hearing their success stories. Quote Link to comment Share on other sites More sharing options...
MidtownCoog Posted August 5, 2005 Share Posted August 5, 2005 Yes! Quote Link to comment Share on other sites More sharing options...
MidtownCoog Posted August 5, 2005 Share Posted August 5, 2005 Quote Link to comment Share on other sites More sharing options...
westguy Posted August 5, 2005 Share Posted August 5, 2005 Quote Link to comment Share on other sites More sharing options...
YakuzaIce Posted August 5, 2005 Share Posted August 5, 2005 All jokes aside, what are we considering wealthy? Quote Link to comment Share on other sites More sharing options...
editor Posted August 5, 2005 Share Posted August 5, 2005 In the 2000 election the Clinton campaign classified anyone making $200,000 a year as a "millionaire." So I guess there's all sorts of ways to fudge the definition of wealth. Quote Link to comment Share on other sites More sharing options...
westguy Posted August 5, 2005 Share Posted August 5, 2005 Clinton ran for President in 2000? Quote Link to comment Share on other sites More sharing options...
RedScare Posted August 5, 2005 Share Posted August 5, 2005 I am not wealthy "monitarily" or monetarily. However, I am rich in the knowledge of life, and I would suggest that to be truly happy, you should begin investing in life's treasures, as opposed to monetary ones. You'll get richer, faster, and it will be a currency that is far more enjoyable to spend. Quote Link to comment Share on other sites More sharing options...
YakuzaIce Posted August 5, 2005 Share Posted August 5, 2005 Clinton ran for President in 2000?<{POST_SNAPBACK}>Probably Clinton (Hilary) for the senate. I assume, unless it was a typo on his part. Quote Link to comment Share on other sites More sharing options...
kjb434 Posted August 5, 2005 Share Posted August 5, 2005 If you want to know the real monetary value. I'm 24 and make $60k as a civil engineer. I'm not even licensed yet.I don't consider myself rich but comfortable. Quote Link to comment Share on other sites More sharing options...
sevfiv Posted August 5, 2005 Share Posted August 5, 2005 wealthy - no, definitely not...but if i were, i doubt anyone would know it...i am 25 and in graduate school, so wealth is far away (and not an aspiration either).and when was the last time you saw a librarian blinging it out in his/her pimped out ride? haha Quote Link to comment Share on other sites More sharing options...
Kirzania Posted August 5, 2005 Share Posted August 5, 2005 As any kid in their senior year of college can tell you, I'm sitting on a small mountain of wealth.Yes... A small mountain of wealth in loans. Quote Link to comment Share on other sites More sharing options...
ssullivan Posted August 5, 2005 Share Posted August 5, 2005 By US standards, no I'm not wealthy. But after getting a $25K increase in base salary between my last job and current one, I'm feeling quite comfortable. (But trust me, that was just taking me from a situation where I was grossly underpaid to being in the market for the type of work I do).When compared to the rest of the world, probably everyone on this board, starving poor students included, is quite wealthy. Quote Link to comment Share on other sites More sharing options...
77017 Posted August 5, 2005 Author Share Posted August 5, 2005 So we don't have any millionaires on this board? Nobody wit a mansion or a bentley? Quote Link to comment Share on other sites More sharing options...
57Tbird Posted August 5, 2005 Share Posted August 5, 2005 Nobody wit a mansion or a bentley?<{POST_SNAPBACK}>Not necessarily an indicator of being wealthy. Read "The Millionaire Next Door". Quote Link to comment Share on other sites More sharing options...
BayouCityGirl Posted August 5, 2005 Share Posted August 5, 2005 Well, I shop at Randalls sometimes. Does that make me wealthy? Seriously, I'm not rich. I want to live "comfortable". Quote Link to comment Share on other sites More sharing options...
ssullivan Posted August 5, 2005 Share Posted August 5, 2005 Well, I shop at Randalls sometimes. Does that make me wealthy? Well, heck if that's all it takes, then I'm way up there. I usually shop at Whole Foods, Randall's, and Central Market. Quote Link to comment Share on other sites More sharing options...
arche_757 Posted August 5, 2005 Share Posted August 5, 2005 No. Quote Link to comment Share on other sites More sharing options...
Original Timmy Chan's Posted August 5, 2005 Share Posted August 5, 2005 My wife and I argue all the time about the difference between lower, middle and upper class.While I've always held that the $100,000 annual income line is the boundary between middle and upper class, she says you've got to make multiple hundreds of thousands of dollars to be considered upper class.I bring in around $70,000 a year (my wife's a student), which I consider upper middle class. My wife thinks we're just now middle class, and that when I was making $30,000 I was in the lower class (poor).If I had to categorize based on annual income for a family of four, I'd make it something like this:$0 - $15,000 Lower Class/Poor$15,000 - $30,000 Lower Middle Class$30,000 - $70,000 Middle Class$70,000 - $100,000 Upper Middle Class$100,000 plus - Upper ClassMy wife's would be something like this:$0 - $40,000 - Lower Class/Poor$40,000 - $70,000 Lower Middle Class$70,000 - $100,000 Middle Class$100,000 - $300,000 - Upper Middle Class$300,000 plus - Upper ClassAs you can tell, we grew up a little differently and have different outlooks on wealth. We have different ideas of necessities and luxuries. I don't think many of us would know how to live without A/C, refrigerators and televisions, but just two decades ago, those things were luxuries. Quote Link to comment Share on other sites More sharing options...
gnu Posted August 5, 2005 Share Posted August 5, 2005 timmychan,i have to side with your wife on this one...especially with the way housing prices have soared. A few years ago, i might have sided with you, at least for a person in living in houston, but I can't see it that way now. Quote Link to comment Share on other sites More sharing options...
Talbot Posted August 5, 2005 Share Posted August 5, 2005 I have 6 dollars in my wallet. I would classify myself as middle to high wealth! Seriously though, we're not wealthy, just regular lower to middle class people. Quote Link to comment Share on other sites More sharing options...
sevfiv Posted August 5, 2005 Share Posted August 5, 2005 can wealth also be attributed to the amount of debt you're in? i know of folks who make a decent living, but have MUCH more in mortgages, car notes, etc...assets=debt=the american dream! Quote Link to comment Share on other sites More sharing options...
Original Timmy Chan's Posted August 5, 2005 Share Posted August 5, 2005 timmychan,i have to side with your wife on this one...especially with the way housing prices have soared. A few years ago, i might have sided with you, at least for a person in living in houston, but I can't see it that way now.<{POST_SNAPBACK}>I agree that my numbers might need to start moving northward...But you've got to admit that we've got things pretty damn good here in America. Even those making $30,000/year have it relatively "easy" compared to the rest of the world, or even compared to our grandparents' lives. Quote Link to comment Share on other sites More sharing options...
Guest danax Posted August 6, 2005 Share Posted August 6, 2005 My wife and I argue all the time about the difference between lower, middle and upper class.......I bring in around $70,000 a year (my wife's a student), which I consider upper middle class. My wife thinks we're just now middle class, and that when I was making $30,000 I was in the lower class (poor).<{POST_SNAPBACK}>70K a year is a lot of money. I think you're both right though. For 2 people, that's 35K each, middle class. For one, you'd be upper-middle.It's all a farce anyway. Most Americans don't know how to live well with little. Someone told me the other day of a friend that said " I'm only going to be making only $5K a month when I retire, I can't live on that". Wow, how pathetic.Back to the topic question. Monetarily, I am far from it. If there's still a can of beans in my cupboard, some rice and a half an avocado in the fridge, I'm good. I've learned how to live with little and be happier than with a house filled with things. Of course, that attitude can be as pretentious as an "upper-class" one so to each his own. But, to discover the dirty little secret that having more is far from feeling better is a step forward. Quote Link to comment Share on other sites More sharing options...
SpringTX Posted August 6, 2005 Share Posted August 6, 2005 RedScare and Danax are 100% right.Money is NOT that important in life. If you're spending your life trying to make more money, you're wasting your life. If you think happiness is connected to money, you're completely wrong. Surveys show that people who win the lottery are, 5 years later, no happier than they were before they won the money.I don't want to insult anyone that falls into this category, but I personally feel that self-made millionaires are truly to be pitied by all of us. From people I've known, and from things I've read (like The Millionaire Next Door), I think these super-achievers are essentially plagued by an endless stream of ills and sorrows. I see weak family relationships. I see kids with a litany of problems. I see rampant health problems. All this from people who apparently "have it all" in the world. Apparently "having it all" comes at a price. Quote Link to comment Share on other sites More sharing options...
SpringTX Posted August 6, 2005 Share Posted August 6, 2005 My measure of social classes: Unskilled or "Lower" class: people who work jobs that require little or no skill and/or are in hostile or undesirable working conditions and/or aren't in much demand. This sometimes excludes those who have gained considerable experience in such a position, which can yield a higher market value for his or her services. This includes those those on public assistance and those who are under-employed. This can be 1-income households with children. Examples might be janitors, garbage collectors, cashiers, hairstylists, taxi drivers. Total household income for a family of 4 might be less than $25,000/year. Such a family might live in a HUD-subsidized apartment near Greenspoint, for example. Semi-skilled or "Working" class: people who work in semi-skilled jobs (not requiring a college degree), sometimes in the manufacturing sector. These jobs require enough skills to provide some "barriers to entry" which command a slightly higher salary. This can include those who have gained considerable experience in a low-skilled position. Salaries might be in the range of $25,000/year to $40,000/year. So total household income could be anywhere from $25,000 to $80,000. Examples might be construction workers, cable installers, secretaries, real estate agents, security guards, firemen. Such a family might live in a 1,500 square foot home in Pasedena worth $85,000, for example. College-eduated or "Professional" class: people working in skilled jobs that require a college degree or similar level of training. Examples might be school teachers, nurses, IT professionals, entry-level corporate managers, corporate salesmen. Salaries might be in the range of $40,000/year to $75,000/year. So total household income could be anywhere from $40,000/year to $150,000/year. Such a family might live in a 3,000 square foot home in Clear Lake worth $150,000, for example. Graduate-educated or "Advanced Professional" class: people working in jobs that require advanced degrees and/or extensive experience and/or very specialized skills. Examples might be doctors, lawyers, architects, accountants, engineers, mid-to-high level corporate managers, corporate consultants, private business owners, etc. Salaries might be in the range of $75,000/year to $200,000/year. Salaries are often based on experience, of course. So total household income could be anywhere from $75,000/year to $400,000/year. Such a family might live in a 4,000 square foot home in one of the gated golf course communities in The Woodlands worth $500,000, for example. Ownership or "Upper" class: people making more than the advanced professional class, or more than the President of the United States, or more than about $300,000/year for a family of 4. These might be business owners/entrepreneurs, celebrities (ex. professional athletes), high-level managers of larger corporations. I'm not sure where these people live or how much their houses are worth. (And they usually don't want us to know, either.) Their home could be worth $1 million or $3 million or $20 million and it's all the same to the rest of us. Quote Link to comment Share on other sites More sharing options...
SpringTX Posted August 6, 2005 Share Posted August 6, 2005 Quote Link to comment Share on other sites More sharing options...
Nothing but me and my Cadillac Posted September 28, 2005 Share Posted September 28, 2005 Nope, not very wealthy here. I think wealthy people do deserve what they have because (most) worked many years before they made it. I drive an Eldorado, does that make me wealthy? NO.Say if you live in a gated community on a golf course and drive a Lexus, then you are probably wealthy. My parents worked extremely hard to get where they are now, and both are retired at 52 and 55. They live in Iowa in the Summer and Fall, and have a place in Arizona in the Winter and Spring. I don't consider my parents wealthy, but comfortable. It all depends on what you consider wealthy. My dad drives a Hummer, but that was one luxury he "had to have". Quote Link to comment Share on other sites More sharing options...
TJones Posted September 28, 2005 Share Posted September 28, 2005 Clinton ran for President in 2000? Do you think Al Gore actually "ran" anything in that election. That was supposed to be Clinton, Part III. All I want to know is when the hell you were driving by my house to take that picture ? Quote Link to comment Share on other sites More sharing options...
RedScare Posted September 28, 2005 Share Posted September 28, 2005 Say if you live in a gated community on a golf course and drive a Lexus, then you are probably wealthy. It all depends on what you consider wealthy. Frankly, that doesn't sound very wealthy to me. Sad, maybe, wealthy, no. But hey, that's just me. Quote Link to comment Share on other sites More sharing options...
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