I hear that poor people often think about what its like...

[Scott R]

I have "old money" my grandparents had a chain of banks that was left to me, then eventually sold to Fleet. I'm constantly worried about being poor and homeless for some reason.

I live like anyone else, but could be living in a bigger house with expensive cars, but instead I just keep banking everything for my descendants like my grandparents did. I don't actually have to be working, but I do because the way I was raised I'm wired to be a worker I guess.

I think my Porsche is my only real luxury, but we have a kid on the way so maybe that will change.

[tabs]

Originally Posted by osidak

In NC that couple would be making about $60,000 a year combined before taxes and would have spent about $112,000 combined at state schools to earn the required degrees

hardly a way to get wealthy.

My wife who taught in public schools for 7 years ending salary was less than 40K

HMMM....my degree from that University in CA by the Sea and Beach I estimate cost about $5000....but that was awhile ago...

[RWebb]

Originally Posted by tabs

and u sir don't know what you are talking about.

as usual, it is you who has no clue - now read this and then go post replies to yourself

Hameau de la reine - Wikipedia, the free encyclopedia

[Monza_dh]

one of my all time favorite tunes:

[RWebb]

Originally Posted by Dueller

This reminds of beach thinking a few weeks ago. One of my wife's patron's gave us use of one of his condo's in Destin, FL (Redneck Riviera). It was a penthouse, 15th floor, 5000 sf, private elevator opened into foyer, yadadadada. On the market for $2.5M (yeah, right). As I was sitting on the balcony I looked in both directions and saw row after row after row of similar upscale condo's....miles and miles of them.

The owners stopped by as they were staying in their $4M 7000 sft condo in a neighboring complex. How'd he make his money? As best we can tell he is a slum lord and has taken advantage of massive HUD subsidies for his "projects" type apts. Who knows? He mayhave inheritted ited it. Doesn't matter.

And knowing I was in one little Fla panhandle development, I couldn't help but think "Who the hell makes enuff money to buy these?" In friggin' Destin Fl? And there are opulent developments all over the country. Far pricier than the Fl panhandle.

Yeah I know people have over extended and subprime mortgages....but jeez...what are these people doing to afford such (relative) opulence?

Enjoyed it anyway...but....

apropos but in another city:
http://www.nytimes.com/2009/11/05/garden/05appraisal.html?hpw

[daepp]

The poor dream that wealth will finally make them happy.

The wealthy know that this is not true.

Do the poor have something on the wealthy?

[herr_oberst]

Originally Posted by DAEpperson

Do the poor have something on the wealthy?

Too many variables. Some might, some absolutely don't, some pretend that they do, but logic would suggest that probably very few poor people feel they're one up on the rich.

[motion]

Having money presents all sorts of new problems. It will change everything about you... and your friends and families. Its like walking a tightrope... with a big target painted on your back. But it does have its benefits.

[DARISC]

[tabs]

Originally Posted by Scott R

I have "old money" my grandparents had a chain of banks that was left to me, then eventually sold to Fleet. I'm constantly worried about being poor and homeless for some reason.

I live like anyone else, but could be living in a bigger house with expensive cars, but instead I just keep banking everything for my descendants like my grandparents did. I don't actually have to be working, but I do because the way I was raised I'm wired to be a worker I guess.

I think my Porsche is my only real luxury, but we have a kid on the way so maybe that will change.

Will it change for you? I don't think so. However that is the reason why you still have the money. To save a dime is to have a dime. For me there was the realization that we only live a few short years before we are gone, so there has to be some enjoyment of what we have in our lives. BUT that has to be balanced off with the future. To that end I have never spent a dime on anything that doesn't have residual value, will hold value or appreciate in value. Now was that the highest and best use of the money, maybe not according to past history. However with the current and future economic state of affairs in America...who knows? It may so happen that our liquid investments turn into toilette paper. Thisa was something that could not have been uttered in a serious conversation even 2 years ago. Now it is seriousily being discussed.

U are what I am talking about in previous posts...and I hope that what I have said makes sense to you.

[tabs]

Originally Posted by RWebb

as usual, it is you who has no clue - now read this and then go post replies to yourself

Hameau de la reine - Wikipedia, the free encyclopedia

It is your "slumming" comment that I am taking umbrage with...I fully knew what you were talking about with Marie...so don't give me your condescension

[tabs]

[tabs]

NOw I don't want to make this a political rant in any shape or form...But i have told you all about the coming of a Secular Round Head Revolution..which means an era of austerity and the end of conspicious consumption. Most Americans have gotten the message at least in the short term that the economy has tanked into a near great depression. We adverted that by the skin of our teeth. This is all reflected in consumer sales being in the tank. While we all know the Middle Class has had the living daylights scared outa them, has that message sunk into the more affluent in our society? Or do they still think showing off their Bling is the thing? The message coming down the road with the socialist agenda of our political leadership and the relaity that taxes are going to be much higher and that includes the 10% increase in the withholding in the state of CA...that perhaps the affluent still havn't gotten the message to go to ground and look as poor as you can...Cause the affluent are the new enemy in America.

[legion]

Poverty is often more a state of mind than a state of being.

How man "poor" people have won the lottery, only to end up poor again within a few years?

Conversely, how many wealthy people have lost everything, either by circumstance or by betting everything on something that failed, and have worked their way back up from nothing, sometimes several times?

[lendaddy]

Originally Posted by motion

Having money presents all sorts of new problems. It will change everything about you... and your friends and families. Its like walking a tightrope... with a big target painted on your back. But it does have its benefits.

I can definitely buy that. I was never rich but I was on the way for a bit there. I'm not gonna lie the ride up was pretty great but I could see the the anticlimactic finish in the distance.

That being said......being protected from rock bottom would have been nice.

[herr_oberst]

Originally Posted by legion

Poverty is often more a state of mind than a state of being.

How man "poor" people have one the lottery, only to end up poor again within a few years?

Conversely, how many wealthy people have lost everything, either by circumstance or by betting everything on something that failed, and have worked their way back up from nothing, sometimes several times?

I think anyone who made their money with real old fashioned hard work would tell you that it is way easier to make it the second time around after losing the pile. (no, I don't have a working knowledge of this; bummer for me.) but if you made your money on a windfall, like for instance, lucky stock market buys 5 years ago, it might not be as easy the second or third time around.

[Dottore]

Originally Posted by motion

Having money presents all sorts of new problems. It will change everything about you... and your friends and families. Its like walking a tightrope... with a big target painted on your back. But it does have its benefits.

Yes. That's exactly right.

For me the best thing about having a little bit of money is that my time is my own. Money buys your own time, and allows you to be in charge of your life. That's the best that can be said for it—but that is one hell of a lot.

And I think that is why many people with a bit of dosh fear losing it so much. Because they know how spectacular it is to own and control their own time—Because "punching the clock", or being beholden to an employer, or worrying about money, is something so unimaginably awful, that it completely scares the crap out of them.

My father said it best one time when he said something like, "Money's not important. But avoiding not having enough of it is essential.".

[slakjaw]

I bet I have the lowest income on OT

[RWebb]

Originally Posted by tabs

It is your "slumming" comment that I am taking umbrage with...I fully knew what you were talking about with Marie...so don't give me your condescension

try to make yourself cogent when posting your drivel

slumming - n. The act of touring through the poor side of town to gawk and make fun of the inhabitants there, usually with a group of one's friends.

if you don't think that some rich people do this - for whatever reasons - you are further off planet than usual

[DARISC]

Originally Posted by Dottore

My father said it best one time when he said something like, "Money's not important. But avoiding not having enough of it is essential.".

Well said. And being able to define for one's self what is enough is critical if one wishes to live a fulfilling and worthwhile life not driven mainly by acquisition; for as Wordsworth wrote, "Getting and spending, we lay waste our powers."