U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Minnesota > Minneapolis - St. Paul
 [Register]
Minneapolis - St. Paul Twin Cities
Please register to participate in our discussions with 1.5 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Jump to a detailed profile or search
site with Google Custom Search

Search Forums  (Advanced)
Business Search - 14 Million verified businesses
Search for:  near: 
Reply Start New Thread
 
Old 11-17-2011, 01:10 PM
 
8,191 posts, read 3,101,193 times
Reputation: 4682

Advertisements

Quote:
Originally Posted by knke0204 View Post
Every rich person I know is the tightest **** you'll ever meet. I had my millionair uncle tell me "Dont stop at that liquor store, they over charge everything, go to this place". I saved $1.50.
My goal in life is to be remembered as a person who cared about others and his family even though he wasn't very good with money.
Reply With Quote Quick reply to this message

 
Old 11-17-2011, 09:28 PM
 
230 posts, read 378,263 times
Reputation: 71
Interesting to think about - that "rich" people might actually build wealth by being frugal and possibly through hard work and other sacrifices and then some "non-rich" people are bitter toward them and think it's corporate greed and such. I guess it's the same have vs. have not story that has gone on forever.
Reply With Quote Quick reply to this message
 
Old 11-17-2011, 09:33 PM
 
1,806 posts, read 1,372,893 times
Reputation: 729
Quote:
Originally Posted by Gibby3000 View Post
Interesting to think about - that "rich" people might actually build wealth by being frugal and possibly through hard work and other sacrifices and then some "non-rich" people are bitter toward them and think it's corporate greed and such. I guess it's the same have vs. have not story that has gone on forever.
Wait...where did corporate greed come from?
Reply With Quote Quick reply to this message
 
Old 11-18-2011, 07:46 AM
 
Location: Home in NOMI
1,635 posts, read 923,078 times
Reputation: 740
Quote:
Originally Posted by Gibby3000 View Post
Interesting to think about - that "rich" people might actually build wealth by being frugal and possibly through hard work and other sacrifices
Tell us about it. For example: my parents aren't rich, they earned their money through work. They put up a tuition fund for my daughter that put her through three years of really good private schooling, until the money ran out.

My ex's "frugal" parents, both being recipients of inherited wealth, of course put in nothing for their granddaughter's education. They're dead now - but they died with money in their pockets. They might as well have had those bumper stickers saying "We're spending our grandchildren's inheritence!" Congratulations, and thanks for nothin'...

Last edited by audadvnc; 11-18-2011 at 08:04 AM..
Reply With Quote Quick reply to this message
 
Old 11-18-2011, 08:09 AM
 
Location: Woodbury, MN
276 posts, read 388,914 times
Reputation: 100
I am dying broke! Sorry future children and grandchildren. You only live once. And if my kids are waiting for me to die to cash in, I did a horrible job as a parent.
Reply With Quote Quick reply to this message
 
Old 11-18-2011, 09:31 AM
 
3,818 posts, read 3,261,919 times
Reputation: 2703
Quote:
Originally Posted by knke0204 View Post
Every rich person I know is the tightest **** you'll ever meet. I had my millionair uncle tell me "Dont stop at that liquor store, they over charge everything, go to this place". I saved $1.50.
It depends if people are from "new money" or "old money". If you got your wealth the old fashion way a.k.a. inheritance, generally they you don't pinch pennies. But habits are hard to break. So even people with deep pockets with new wealth still search for a deal on that $80K car or while shopping for that 6000 sq foot home on Tonka. That is because they were raised that way.

There are still many examples of people spending money like water when they have "new money". Think Michael Jackson, Elton John, Willie Nelson, etc.

I will say that millionaires from the Midwest were raised with a frugal / farmers mentality. So while demographically MN is a wealthy state, on average we are not showy like people in CA or NY. I know a lot of millionaires that still live in a smaller home and drive "normal" priced cars. After you talk with them you realize they are factually "rich". The richer burbs are chalk full of rich wannabees that p_ss away their better than average incomes on over priced trinkets. Their goal is to show that they have made it. In fact, there are way too many that are all mortgaged-up and are upside down on that lake homes. To me, "rich" means you don't have to work hard if you don't want to.

Last edited by MN-Born-n-Raised; 11-18-2011 at 09:41 AM..
Reply With Quote Quick reply to this message
 
Old 11-18-2011, 10:11 AM
 
20,797 posts, read 32,438,434 times
Reputation: 9893
Why do people think they are entitled to other people's money?? If our parents die with no money, great, I'm glad you enjoyed your hard earned money--just leave enough to pay for your funeral .
Reply With Quote Quick reply to this message
 
Old 11-18-2011, 02:02 PM
 
Location: South Minneapolis
2,786 posts, read 2,058,815 times
Reputation: 3583
Quote:
Originally Posted by golfgal View Post
Why do people think they are entitled to other people's money?? If our parents die with no money, great, I'm glad you enjoyed your hard earned money--just leave enough to pay for your funeral .
It used to be that people worked hard and tried to gain wealth in order to give their children advantages that they never had, whereas now we see more stories about people using the wealth they've accumulated for their own pleasure. It strikes me as a different mindset on the part of the older generation more than than a sense of entitlement by the younger generation. It cuts both ways, of course. We don't hear much about parents going to live with their adult children anymore either. I think what we see is that each generation feels less of an obligation to the other than what might have been the case in the past. It doesn't strike me as a good thing.
Reply With Quote Quick reply to this message
 
Old 11-18-2011, 02:41 PM
 
Location: MN
223 posts, read 258,690 times
Reputation: 79
Quote:
Originally Posted by Glenfield View Post
It used to be that people worked hard and tried to gain wealth in order to give their children advantages that they never had, whereas now we see more stories about people using the wealth they've accumulated for their own pleasure. It strikes me as a different mindset on the part of the older generation more than than a sense of entitlement by the younger generation. It cuts both ways, of course. We don't hear much about parents going to live with their adult children anymore either. I think what we see is that each generation feels less of an obligation to the other than what might have been the case in the past. It doesn't strike me as a good thing.
I would have to say I agree with your assessment. My brother-in-law who is Korean has taken his parents in, which is the protocol for their culture for the first born son. However, he is actually the 2nd born. The first born son elected not to take his parents in. This is a couple who put three children through medical school through very hard work. They have been in the U.S. for 40 years. I am helping my parents in their golden years and I hope by example my children will be there for us...however I have made provisions otherwise should that not be the case.
Reply With Quote Quick reply to this message
 
Old 11-18-2011, 03:13 PM
 
Location: Minnesota, USA
7,526 posts, read 8,159,949 times
Reputation: 6015
Quote:
Originally Posted by MN-Born-n-Raised View Post
It depends if people are from "new money" or "old money". If you got your wealth the old fashion way a.k.a. inheritance, generally they you don't pinch pennies. But habits are hard to break. So even people with deep pockets with new wealth still search for a deal on that $80K car or while shopping for that 6000 sq foot home on Tonka. That is because they were raised that way.

There are still many examples of people spending money like water when they have "new money". Think Michael Jackson, Elton John, Willie Nelson, etc.

I will say that millionaires from the Midwest were raised with a frugal / farmers mentality. So while demographically MN is a wealthy state, on average we are not showy like people in CA or NY. I know a lot of millionaires that still live in a smaller home and drive "normal" priced cars. After you talk with them you realize they are factually "rich". The richer burbs are chalk full of rich wannabees that p_ss away their better than average incomes on over priced trinkets. Their goal is to show that they have made it. In fact, there are way too many that are all mortgaged-up and are upside down on that lake homes. To me, "rich" means you don't have to work hard if you don't want to.
Actually, the popular stereotype (perhaps accurate) is that the "noveau riche" (those who became rich in their lifetime) tend to be the big conspicuous consumers, buying the Ferraris, the 12,000 square foot mansions, etc., while having large amounts of wealth is second nature for the "old rich" and they are consequently much more conservative in their lifestyle. This does not hold true only for the United States but also countries where the economy has recently experienced a boom, e.g. China and Russia.

I agree that bragging about your wealth (or even passively showing it off) is looked down on in MN, and most of our wealthy are far more discrete about this than their peers in other states.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Options
X
Data:
Loading data...
Based on 2000-2011 data
Loading data...

123
Hide US histogram

Over $84,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Minnesota > Minneapolis - St. Paul
Similar Threads

All times are GMT -6. The time now is 09:52 PM.

2005-2014, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25 - Top