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your dad was a farmer which means you came from low income family he wasn't rich
You're kidding right? Do you know ANYTHING about land values? Do you know anything about farming in general? This has to be the most ignorant statement I've ever heard and I've heard some idiotic comments on this forum.
We're not a huge, corporate farmer that farms 5000+ acres of land but we currently own OUTRIGHT 960 acres (1 1/2 sections). The going price for a piece of farmland in NW Iowa where we farm is over $15,000 while some parcels are selling for in excess of $18,000 and some hitting $21,000. Obviously those are exceptions and not rules but basically, $15,000/ acre is the going rate in the two counties where we hold land. Use basic multiplication and the VALUE of this farmland is closing on $15 million. Now obviously land is only worth anything when you're selling it but that's not low net worth in any of the 50 states.
Both my parents are retired and simply rent out the land. My three siblings and myself each get the land rent off 160 acres and my parents collect the rent from the remaining 320 acres to live on. I receive $72,000/ year from land rent ($450 per acre) and my parents get close to $150,000/ year for the 1/2 section they rent. My siblings get varying rental rates but average between $425-$450/ acre for their 1/4 sections.
I've never admitted to being a wealthy person simply because I am no such thing, but certainly this supplemental income isn't shabby no matter who you are.
I think you've been taught a lesson to not judge a book by it's cover. I also think you should maybe know what you're talking about before you type something- it makes you look like an ignorant fool and it's quite difficult to take anything you have to say seriously.
I don't know how rich they are, but I live in a really rural area where 4-wheel drives are a good thing to have. I would say some of the nicer cars are Hummers, Escalades, and Expeditions.
You're kidding right? Do you know ANYTHING about land values? Do you know anything about farming in general? This has to be the most ignorant statement I've ever heard and I've heard some idiotic comments on this forum.
We're not a huge, corporate farmer that farms 5000+ acres of land but we currently own OUTRIGHT 960 acres (1 1/2 sections). The going price for a piece of farmland in NW Iowa where we farm is over $15,000 while some parcels are selling for in excess of $18,000 and some hitting $21,000. Obviously those are exceptions and not rules but basically, $15,000/ acre is the going rate in the two counties where we hold land. Use basic multiplication and the VALUE of this farmland is closing on $15 million. Now obviously land is only worth anything when you're selling it but that's not low net worth in any of the 50 states.
Both my parents are retired and simply rent out the land. My three siblings and myself each get the land rent off 160 acres and my parents collect the rent from the remaining 320 acres to live on. I receive $72,000/ year from land rent ($450 per acre) and my parents get close to $150,000/ year for the 1/2 section they rent. My siblings get varying rental rates but average between $425-$450/ acre for their 1/4 sections.
I've never admitted to being a wealthy person simply because I am no such thing, but certainly this supplemental income isn't shabby no matter who you are.
I think you've been taught a lesson to not judge a book by it's cover. I also think you should maybe know what you're talking about before you type something- it makes you look like an ignorant fool and it's quite difficult to take anything you have to say seriously.
Sure can. Do what all the rest of us do and earn it. Take what you earn and reinvest it. Take the money that comes in from the investments and reinvest that. Do that for a few decades and then you should have some money for fun. Maybe your kids will be able to take advantage of what you did and some day write about it on a message board similar to City Data Forum. During one of their messages they will inform the world of all the things that you did to grow your wealth and the benefit that your work had done for them. Someone will ask them for money and someone else will tell them how to get it.
The two richest guys I know have many cars. 1 has a Porsche as his daily driver, the other drives a Bently. The third richest one drives a 10 year old Infinity. He's just not into cars "BUT' you got to see his home theater in his basement. He belongs to a local snooty golf club and all the other members jokingly tell him he needs to park his beater out back where the help parks. He's a really good golfer and is the current club champion so he gets to park his 10 year old Infinity right up front in the club champions parking space. Too funny!
I only know of one guy who's worth in the $20 million range. His daily driver is a Jeep Liberty. His wife drives a Durango and a PT Cruiser.
The Jag only comes out to play when the weather's nice, which hasn't been much lately. 90% of his miles go on the Jeep, and his shirts can't cost more than $30 at Casual Male.
The nail that sticks up gets hammered down, there's no point in being conspicuous.
I don't know how people pay these for car insurance
Vehicles with highest insurance rates
Rank Make Model National Average annual premium
1. Mercedes SL 65 AMG 3,543,81
2. BMW 750i 3,280.70
3. BMW 750Li 3,280.70
4. Mercedes SL63 AMG 3,263.46
5. Mercedes SL65 AMG 3,220.86
6. Aston martin DB9 3,120.45
7. Mercedes Cl600 3,114.28
8. Porsche 911 Carrera s 3,092.31
9. Aston Martin DB9 volante 3,088.96
10. Mercedes G55 AMG 3,086.49
I don't know how people pay these for car insurance
Vehicles with highest insurance rates
Rank Make Model National Average annual premium
1. Mercedes SL 65 AMG 3,543,81
2. BMW 750i 3,280.70
3. BMW 750Li 3,280.70
4. Mercedes SL63 AMG 3,263.46
5. Mercedes SL65 AMG 3,220.86
6. Aston martin DB9 3,120.45
7. Mercedes Cl600 3,114.28
8. Porsche 911 Carrera s 3,092.31
9. Aston Martin DB9 volante 3,088.96
10. Mercedes G55 AMG 3,086.49
Do you think that the guy who pays around 200K for the SL65 AMG can pop for 3,500 to insure it?
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