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I just found out the other day that one of my friends has a business on the side that effectively doubles his money. He's able to put away about $3,500/month in savings and investment. I had NO idea he was doing that well. I was thinking he was doing a little bit better than average but I would never have guessed he was banking so much. He drives a 10 year old Lexus, wears average clothes, isn't really flashy. I know he's not lying because I know the guy he partnered up with for the side business. Kind of makes me wonder how many other people who I think are doing OK are really making some good coin. Anybody else know any people like this?
I'm willing to bet that a large number of the well-off are similar. It's the flashy ones that usually have less than they portray. That's my experience, any way.
Location: Prescott Valley,az summer/east valley Az winter
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It depends on your definition of well off I guess~ most farmers take jobs to pay for their living~ vacation time spent getting the crops in and out~extra hours doing the farmwork~putting everything they earn into farm payments and machinery. After working that way for years they go into retirement having taken no vacations~ no going out to eat at expensive resuraunts~ wearing patched clothing and driving whatever they can keep on the road. Their machinery worth hundreds of thousands paid for~ the farm they paid on for years is now paid for~ worth quite a lot~~~ and the snooty people that turned their nose up that took vacations every year and drove new cars and lived in big houses all stand around talking about how rich the farmer is and he didn't deserve to have all that money~ he was just a farmer.
And I also remember the founder of Winnebago Industies talking to my dad in the field~ wearing his bib overalls with patches on the patches and his old beater pickup behind him. So yes, think I've met a few that I think of as wealthy~ but none that wear suits impress me much.
Contrary to what most people are saying, most people I know that are wealthy drive nice newer cars, live in million dollar plus homes and eat out on a regular basis. Living frugally and saving so you have a million or two at retirement doesn't make you rich IMO. Having all the nice new toys and gadgets, homes, vacations, etc and still having a few million in the bank is my definition of rich. You're not truly rich unless you live very well and still accumulate wealth. Otherwise you're just living comfortablely.
Contrary to what most people are saying, most people I know that are wealthy drive nice newer cars, live in million dollar plus homes and eat out on a regular basis. Living frugally and saving so you have a million or two at retirement doesn't make you rich IMO. Having all the nice new toys and gadgets, homes, vacations, etc and still having a few million in the bank is my definition of rich. You're not truly rich unless you live very well and still accumulate wealth. Otherwise you're just living comfortablely.
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Your definition of wealth is not attainable for the majority of people. Your definition of financially comfortable, however, is. Unfortunately, most people never even get to comfortable.
Your definition of wealth is not attainable for the majority of people. Your definition of financially comfortable, however, is. Unfortunately, most people never even get to comfortable.
The varying degrees of comfortable = the varying degrees of middle class.
You earn enough to pay your own way and that way includes some comforts too.
The richest person I know lives in nice middle-class suburb in OHIO. She's worth at least $50 million. You'd never know it.
Agreed. I thought I knew rich people until I realized that the richest I knew was the closest person to me. No one knew until she passed away and they were sorting out her estate.
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