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Old 02-22-2007, 02:06 AM
 
Location: WPB, FL. Dreaming of Oil city, PA
2,909 posts, read 12,991,105 times
Reputation: 991

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I ask this because im curious and also I know some rich friends making $100k a year or even more! Also maybe ill win the lottery or score really big with my home internet business and make big money from it

If Florida does away with property taxes, I can see it being a good place for the rich. They can afford those nice $250k plus houses and save many thousands a year on property taxes. Add to the fact theres no state income tax to suck thousands off their huge incomes. Wont benefit the poor and middle class who cant afford a house anyway.

Im seeing lots of rich people choose Texas and they are spending big money on really nice big houses, like a quarter million for those huge 4000-5000 total square feet 5 to 7 bedroom houses! Add to the fact theres no state income tax and Texas is working on reducing prop tax and its an attractive option to live in style.

California is popular but prices are so high only the super, super rich can afford a proper house. State income tax is like 8% or even more! Those prices will you!!!

Im seeing some people retire in the midwest and buy acres of land and a huge house for big money.

I am not sure if Oil city will be the best choice if someone I knew or I became rich. What would be a really great and desirable location where you can get a nice big house with a spacious lot for $200k, $250k, $333k or even $500k? Instead of $50k in Oil city, youd be paying several times more for a location that is popular with rich people?
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Old 02-22-2007, 05:43 AM
j33
 
4,625 posts, read 12,868,107 times
Reputation: 1668
Even if I won the lotto, if I had to live surrounded by rich people, I'd probably go berserk. If I ever found myself with wads of cash, I'd move into a place where there were loads of people of all types, that way nobody would care that I was rich, but nobody would care either that my idea of keeping up with the Joneses would be considered very odd indeed. If I ever had money and tried to live in a desperate housewives sort of town, I'd probably be run out of town on a rail for my behavior and decorating sense


...yes, I'm painting polka dots on my new Mercedes? and how is this a problem?
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Old 02-22-2007, 05:44 AM
 
7,139 posts, read 13,184,298 times
Reputation: 2333
Believe me, making 100K is NOT rich. I make WAY more than that, and am still not considered rich! Not after good ole Uncle Sam gets done with me...
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Old 02-22-2007, 06:12 AM
 
Location: South Carolina
5,298 posts, read 5,773,362 times
Reputation: 8141
If I were rich I would not flaunt it,I would just try to blend in as to not draw attention to myself but I would have a home in south florida for the winter and a home somewhere up north for the summer.Ahhh to dream.
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Old 02-22-2007, 06:34 AM
 
Location: Scottsdale, AZ
4,486 posts, read 15,285,699 times
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$100K/ year isn't wealthy anymore; the standards have been raised. It's not uncommon for a married couple to have an income over $100K or even $200K these days.

Plenty of people have made $$$ by the housing boom (especially developers) but they aren't necessarily wealthy. I've seen plenty of wanna-be millionaires driving Lexus's, living in large, expensive homes, and buying brand-name clothing etc etc but they don't have a dime to their name. Arizona, California, Florida, New Jersey are all great examples of states with tons of these people.

In order to be considered wealthy, you don't have to worry abou money. You can go out, buy whatever you heart desires and write the check. There is a differenece between a wealthy person and a millionaire. A millionaire has money but still has to be consious about what he's spending. A wealthy person doesn't have to worry, his bank account is endless (to an extent).

My townhome is worth over $700K but I would never consider myself wealthy. I think I live fairly comfortably but I could never just go out and buy some big-ticket luxury item (think Mercedes or Lexus). A few of my friends are quite wealthy and I can admit that I've had moments where I've been jealous but you can't let it rule your life. One of them bought a Lexus LX470 and I ABSOLUTELY LOVED this SUV! I admit that I REALLY wanted to buy one but I just cannot afford it, it'd break me.

Just about any state is popular with wealthy people thought; from Iowa to California to Montana to New York. You may even have a wealthy neighbor and not know about it. You'd be suprised on how much $$$ farmers in states like Iowa and Nebraska have. But you'd NEVER know it because most drive a truck, not some Mercedes or BMW. Some probably have more money than one of those big-city lawyers.
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Old 02-22-2007, 06:38 AM
j33
 
4,625 posts, read 12,868,107 times
Reputation: 1668
oh, and I do agree that 100k is upper-middle class, not rich. Granted I make nowhere near that, but the people I know who do, do well for themselves, but I would not consider them wealthy in the sense that say, Bill Gates is wealthy.
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Old 02-22-2007, 07:01 AM
 
Location: Northern MN
592 posts, read 2,580,293 times
Reputation: 353
Isn't it funny that (nearly) everyone defines "rich" by how much disposable income is available? I prefer to define my wealth by being able to live in a comfortable house, being healthy, maintaining my ability to raise some of my own food, and being thankful for living in a safe enviroment without fear of car bombs and terrorists making life miserable or unavailable. Maybe it comes with getting older, but no matter how much financial wealth one has, we all end up in the same place sooner or later.
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Old 02-22-2007, 07:14 AM
 
5,019 posts, read 12,743,627 times
Reputation: 6987
NAH, you might enjoy reading "The Millionaire Next Door" .
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Old 02-22-2007, 07:39 AM
j33
 
4,625 posts, read 12,868,107 times
Reputation: 1668
Delaneyland - That is a healthy attitude. I'm not wealthy by any stretch, but I'm content, and I'd take contentment over wealth any day of the week.
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Old 02-22-2007, 07:41 AM
 
Location: Arlington, VA and Washington, DC
23,646 posts, read 33,439,851 times
Reputation: 32369
Loudon and Fairfax county in Virginia has a lot of rich (excuse me, upper-class) folks. Loudon has the highest per capita income in the nation.
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