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Old 10-27-2009, 07:26 PM
 
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and they do live in a middle to middle-upper class neighborhoods and drive a modest vehicle?

 
Old 10-27-2009, 08:00 PM
 
Location: SoCal desert
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Quote:
Originally Posted by Texas User View Post
Is This True That Rich Folks Are Frugal? and they do live in a middle to middle-upper class neighborhoods and drive a modest vehicle?
What's your definition of rich?
 
Old 10-27-2009, 08:07 PM
 
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Read The Millionaire Next Door, that's what the author says.
 
Old 10-27-2009, 08:08 PM
 
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Quote:
Originally Posted by Gandalara View Post
What's your definition of rich?
High Net worth assets. Living comfortably without any fall backs. Debt-free.
 
Old 10-27-2009, 08:09 PM
 
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Quote:
Originally Posted by Gottasay View Post
Read The Millionaire Next Door, that's what the author says.
Oh yea I have. Very good book.
 
Old 10-27-2009, 08:11 PM
 
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Rich Dad, Poor Dad.
 
Old 10-27-2009, 09:18 PM
 
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Quote:
Originally Posted by Texas User View Post
and they do live in a middle to middle-upper class neighborhoods and drive a modest vehicle?
There are some very wealthy people who live like that.

If you flash your wealth around all the time, its hard to make friends because people will either think you're showing off, be envious, feel insecure, or try to take your wealth away. If you make a conscious effort not to stand above your neighbors, you can avoid those pitfalls and make good friends.

I don't know about you, but I'd much rather have Thanksgiving dinner with family and friends in a modest house than to eat alone in a mansion.
 
Old 10-27-2009, 09:25 PM
 
Location: DFW - Coppell / Las Colinas
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There are 3 generations of rich in a family:

1st Generation is frugal, works hard and builds a great business. Teaches kids the value of a buck.

2nd Generation just tries not to screw it up and lives a pretty nice lifestyle. Raises spoiled kids.

3rd Generation is the spoiled kids who did not earn it, has no concept of how to keep it going, lives lavishly, parties hard, does drugs and files bankruptcy. They blow everything Grand Pa worked to build.

Not all rich folks are frugal but the ones who earned it usually are.
 
Old 10-28-2009, 02:19 AM
 
Location: where the moss is taking over the villages
2,178 posts, read 4,716,946 times
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Quote:
Originally Posted by Rakin View Post
There are 3 generations of rich in a family:

1st Generation is frugal, works hard and builds a great business. Teaches kids the value of a buck.

2nd Generation just tries not to screw it up and lives a pretty nice lifestyle. Raises spoiled kids.

3rd Generation is the spoiled kids who did not earn it, has no concept of how to keep it going, lives lavishly, parties hard, does drugs and files bankruptcy. They blow everything Grand Pa worked to build.

Not all rich folks are frugal but the ones who earned it usually are.
Yup.
 
Old 10-28-2009, 03:28 AM
 
Location: Conejo Valley, CA
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Depends what you mean by frugal, but almost everyone I know that is wealthy is not frugal in the sense that people seem to use the word here.
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