Rich people in Phoenix - from what? (Tucson, Scottsdale: leasing, movers)

[LocoAZnative]

A lot of the are in the internet porn business. A lot of those mansion's and lambo's are made from the indusrty. There are a few internet porn moguls here and you will see the shooting in public all around the valley.

[adolpho]

lots of old stock owners.

[fcorrales80]

Originally Posted by Howard Roark

I see the same "$30k millionaires" in Hermosa Beach and the Newport Coast! Poseurs. The other extreme is that there are many more people out there with a high net worth (over $1,000,000) who live very modestly, dress down, drive an economy car, and never worry about whether or not if they get canned from a job.

$30k "millionaires" could not afford new luxury cars except maybe an entry level model. They definitely would not be driving Bentleys and S class sedans...

That being said, Phoenix may only have a handful of Fortune 500 headquarters, but it is a regional headquarter hub. There are regional offices and headquarters for almost every company you can think of; from Microsoft to Charles Schwabb.

Much of the old money in Arizona also reside not in Scottsdale, but in the Catalina Foothills of Tucson and in Paradise Valley (the town), Camelback mountain area in Phoenix, Arcadia, Biltmore, North Central Phoenix, and all along the mountain preserves in the central cities areas.

They are investors, land owners, entrepreneurs, etc. The Valley is home to billionaires that are "new" to that scene like Hispanics whose companies in Arizona have gone national; i.e. Arturo Moreno (founder of Outdoor Systems). We also have a large number of heirs from companies founded in Arizona or from families who decided to make their homes in Arizona.

[Ponderosa]

There are very few ways to make more than minimum wage in Phoenix that are legal, moral, or ethical.

[fcorrales80]

Originally Posted by Ponderosa

There are very few ways to make more than minimum wage in Phoenix that are legal, moral, or ethical.

LOL! Another silly and ridiculous post.

[las vegas drunk]

Originally Posted by fcorrales80

$30k "millionaires" could not afford new luxury cars except maybe an entry level model. They definitely would not be driving Bentleys and S class sedans...

For once, I will agree with you. What the hell is a $30k millionaire anyways?

[las vegas drunk]

Originally Posted by Ponderosa

There are very few ways to make more than minimum wage in Phoenix that are legal, moral, or ethical.

I do not know, but you seem even more bitter about Phoenix than even me? What about registered nurses, doctors, fire fighters, paramedics, etc? They make WAY more than minumum wage and certainly are not unethical.

[Ponderosa]

Originally Posted by las vegas drunk

I do not know, but you seem even more bitter about Phoenix than even me? What about registered nurses, doctors, fire fighters, paramedics, etc? They make WAY more than minumum wage and certainly are not unethical.

Cmist converted me. I am gonna tell it like it is from now on. How many people are doctors, nurses, fire fighters, etc. Most of us labor for starvation wages as we struggle to pay for high mortgages on worthless houses we can't sell, deal with high priced license fees on our worn out cars and mind-boggling sales taxes, get saddled outrageous utility bills and pay a fee to even view our "public" lands. We lose our low wage jobs and then enjoy the second worst benefits in the country. Our kids would get a better education in many third world countries than they get here. They enter the work force at a disadvantage against kids from just about anywhere. It's almost all bad here outside of the weather.

Very few of us make enough to live the good life here and many of those who do got their money through crime, corruption and immorality.

[fcorrales80]

Originally Posted by las vegas drunk

For once, I will agree with you. What the hell is a $30k millionaire anyways?

It is an interesting term. It generally defines individuals who aren't poor by any means, but live above their "pay grade" or support a lifestyle "habit" that is truly too much for their income; thus end up overextending themselves on credit. Generally someone who makes between $35k - $55k but spends like "Bill Gates" at Saks and Barney's charging everything on credit and not being able to pay it off at the end of the month.

They are generally single so the expense for some is probably "affordable" but ill advised since something bad can happen setting off a chain of events that puts them in troubled waters; layoff, pay reduction, health/medical expense, car accident, etc.

[Howard Roark]

FCorrales and LVD, yes, A $30k millionaire can "afford" Porsches and such. A used Porsche Boxster is considered a status symbol (because people may think you bought it brand new). Also these young Trump wannabes may have rich parents but low paying jobs. They have roommates in most cases too, don't forget. I'm not saying there are some genuine high income or high net worth people driving those luxury cars.

Stanley and Danko wrote in "The Millionaire Next Door" that most millionaires do not display wealth, drive mediocre cars, and buy them used.

For LVD: A "$30k millionaire" is one who has a low income (such as $30,000 per year), low net worth, and pretends to be wealthy. It's part of the game to "pick up chicks." Ok, with inflation, maybe I should label them as $50k millionaires. Now that we are about in the 30th month of recession, sightings of $30k millionaires are becoming rarer!