Are you wealthy?

[2DUM2TAP]

I have to save up some money to be poor.

 

[Abezal]

Nope but will be wealthy, will inherit two condos family are middle class now. Started from nothing with no money.

 

[M3t4tr0n]

Wow, your ratio is almost 1:1. That's impressive. Unless of course, you padded this by visiting the Heavies and berating Honda.

Nope I rarely post in the heavies. I've posted in the heavies probably 10 to 15 times and they weren't Ronda posts. All my likes came from the berry and the warroom.

 

[InvestigatorIL]

Sure, some people's definition of wealthy can differ but it absurd to think a person who pulls in 200,000 is not wealthy. They are in the top .1% of the entire world. If that is not wealthy then I don't know what is.

Sure its not generational wealth aka 'fuck you' money but it's a ton of money

If someone makes that much money and are still living pay check to paycheck then they are just a moron, that's all I need to say about that.

I make 200K per year and let me tell you... You have no idea what you are talking about

 

[mike sherry]

I make 200K per year and let me tell you... You have no idea what you are talking about

Do explain then

Considering you are in the top .1% of the world in terms of wealth I'd love to hear how you are not in fact wealthy.

 

[InvestigatorIL]

Do explain then

When you make 200K a year you are in a high tax bracket which means that person is in a tax bracket of about 33% so slash that by a third. Now we are talking about 132,000 of take home pay. I pay about 6 grand a year in insurance for myself and my family as well as my student loans and my wife's student loans. Now we are at about 120,000 per year. I save 600/month for my daughter's college fund (which isn't going to be near enough) and I save about the same amount for retirement every month.

In short a person with an income of 200K only brings home about 110,000/year and I live in an pretty nice Chicago suburb where items are expensive. Now remember that I only have one child. Imagine if I had to save for 3 college tuitions and tack on 2 more kids to my health insurance.

I'm not complaining as i do live a comfortable life but I'm far from wealthy my friend.

 

[BVG]

My wife and I pull in about 160k annually.

We have a home worth roughly 340k which where I live gives you about 2100 square feet. After we finish the basement it will be over 3k of living space.

I'd say we are upper middle class.

 

[mike sherry]

When you make 200K a year you are in a high tax bracket which means that person is in a tax bracket of about 33% so slash that by a third. Now we are talking about 132,000 of take home pay. I pay about 6 grand a year in insurance for myself and my family as well as my student loans and my wife's student loans. Now we are at about 120,000 per year. I save 600/month for my daughter's college fund (which isn't going to be near enough) and I save about the same amount for retirement every month.

In short a person with an income of 200K only brings home about 110,000/year and I live in an pretty nice Chicago suburb where items are expensive. Now remember that I only have one child. Imagine if I had to save for 3 college tuitions and tack on 2 more kids to my health insurance.

I'm not complaining as i do live a comfortable life but I'm far from wealthy my friend.

Yeah, you'll never be able to convince me that someone who produces enough income to be in the top .1% of the entire world is not defacto wealthy.

You are able to afford luxuries like cars, a house in a nice neighborhood, saving for children's college etc. That is all the evidence I need that you are in fact wealthy.

Again, top .1% of the entire world. It's an invalid argument to argue against that alone.

 

[Dr J]

People confuse "wealthy" with never having to worry about money.

 

[Orgasmo]

But you're living in North Dakota. Yes, it costs more to live here, but you're getting something for that money. You could move to the Philippines or something and be rich with your $50K a year, but that's not really what being rich is.

It's more convenient and glamorous for certain if you're living in a major metropolis, but I actually don't mind living in small towns. Being rich is relative, just as poverty is relative.

 

[InvestigatorIL]

Yeah, you'll never be able to convince me that someone who produces enough income to be in the top .1% of the entire world is not defacto wealthy.

You are able to afford luxuries like cars, a house in a nice neighborhood, saving for children's college etc. That is all the evidence I need that you are in fact wealthy.

Again, top .1% of the entire world. It's an invalid argument to argue against that alone.

I understand your position and by that criteria anyone making 30k or more is wealthy. I can blow your mind even more... I'm actually one of the poorest of all my friends and people I hang out with. Lots of my friends are parents of my daughters friends and you can throw a rock at anyone of their houses and you will hit a million dollar home. It's all relative man

 

[mike sherry]

People confuse "wealthy" with never having to worry about money.

It's because of the american privilege of most posters. They live in a very wealthy country and rich/wealthy here basically means being able to have gold plated toilet seats

 

[HunterSdVa29]

every male in 3 generations was military before me, as was I, so certainly didn't grow up poor but not wealthy either.

Doing pretty good for myself, especially once everything w/ my divorce settled (aka lose half of my money, get jack and shit in return). Plus, I live in 29 Palms, so I'm borderline wealthy out here in Hills Have Eyes territory. Having 4 sources of income will do that for you haha

 

[Orgasmo]

It's because of the american privilege of most posters. They live in a very wealthy country and rich/wealthy here basically means being able to have gold plated toilet seats

That's bordering on exaggeration. You can reasonably have access to the same "privileges" most Americans enjoy in most third world countries with half the income. Purchasing power is a major factor, and wealth is relative.

I really think it's the best way to think about it. It's one of the reasons I don't think people should count their homes in their wealth assessment.

Some homes you can rent out the basement or rooms, which can provide you with extra income on the side.

 

[mike sherry]

That's bordering on exaggeration. You can reasonably have access to the same "privileges" most Americans enjoy in most third world countries with half the income. Purchasing power is a major factor, and wealth is relative.

I should have exaggerated more, I just enjoy using the american privilege claim to counter anyone bitching about privilege since its usually an american doing so (so I have seen)

I'm only being 10% serious.

 

[HunterSdVa29]

as Chris Rock said, Shaq is Rich.....the white cat that signs his check (used to be Jerry Buss), is wealthy....

Rich you can lose over a drug binge and tagalong crew, wealth is hard to mess up (see: Donald Trump)

 

[Possum Jenkins]

The short answer to your question is no, but it's funny you mention the household income thing. Both of my parents were professionals and our household income was well over $200k - however, we were raised poor. What I mean by that is my parents were very frugle (cutting coupons, not going on vacations, no brand name anything), because they themselves had grown up dirt poor (in an almost literal sense - they lived in tin houses on stilts back in Guyana). The one area where we were "spoiled" was that my parents invested heavily in our education (neither myself or my siblings paid for university - for as long as we were in school, they would take care of everything financially).

At 31, I have a decent nest egg and some property. Since I don't have kids (or a lavish lifestyle), I save a large chunk of what I earn. I don't think I will ever be wealthy by the definition you gave though - comfortable yes, rich no.

I have a very similar background.

And this is the reason I'm a giant, massive liberal. I know for damn sure that I have it way, way, way easier than both of my parents, yet I'll probably surpass them in material things by the time I reach their age. I did nothing to earn being born to them.

So all that "all you have to do is work hard!" thing is a bunch bullshit. You luck out and have well-off, educated parents, or you don't and have to paddle upstream.

Only the most miserable pieces of shit will treat those paddling upstream with contempt.

 

[ILLogic]

as Chris Rock said, Shaq is Rich.....the white cat that signs his check (used to be Jerry Buss), is wealthy....

Rich you can lose over a drug binge and tagalong crew, wealth is hard to mess up (see: Donald Trump)

Man, I read that as Tagalog crew and thought you were making a reference to Pacquiao lol. Still applies though.

 

[Jack V Savage]

as Chris Rock said, Shaq is Rich.....the white cat that signs his check (used to be Jerry Buss), is wealthy....

Rich you can lose over a drug binge and tagalong crew, wealth is hard to mess up (see: Donald Trump)

I misread that as a tagalog crew.

Man, I read that as Tagalog crew and thought you were making a reference to Pacquiao lol. Still applies though.

Shit, you beat me to that.

Only the most miserable pieces of shit will treat those paddling upstream with contempt.

Sig-worthy line, right there.

 

[Orgasmo]

Rich you can lose over a drug binge and tagalong crew, wealth is hard to mess up (see: Donald Trump)

Donald Trump's wealth wasn't built in a day, but over several generations. He was already born into wealth. The thing about money is that once you have a certain amount, it practically earns itself if you know how to invest.