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Old 11-29-2019, 11:06 AM
 
Location: Vienna, VA
417 posts, read 194,507 times
Reputation: 438

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Quote:
Originally Posted by RationalExpectations View Post
I disagree. $150K is not rich.

On $150K gross -- heck, make it $150K NET, you cannot buy one of these:
On $150k you can't even afford something like https://www.zillow.com/homedetails/2...12078923_zpid/ a 2 bed 1 bath 1930s home, the pinnacle of luxury. And that's in the burbs, Jenny lives in D.C proper
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Old 11-29-2019, 11:20 AM
 
Location: Pennsylvania
14,192 posts, read 4,856,068 times
Reputation: 11262
Quote:
Originally Posted by ChessieMom View Post
No way. My brother made nearly 250k a year, but I would never consider him "rich". No one that knew him would have, either. He was certainly comfortable, and made enough to be able to plan for a decent retirement in a mountain home. I think there is a long way between "comfortable" and "rich". Obviously it depends on your own experience, but one should not make such a blanket statement without qualifying it with other criteria - the most important being LOCATION.
Agree that location has a lot to do with things. $250k per year = wealthy and I don't care where you live.

Thinking someone who makes $250k per year isn't rich..... is why we have such a problem with the march of socialism in this country. For every "have" who makes $250k per year there are 15 "have nots" who make next to nothing.
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Old 11-29-2019, 11:28 AM
 
27,332 posts, read 34,235,496 times
Reputation: 35146
Quote:
Originally Posted by BeerGeek40 View Post
Agree that location has a lot to do with things. $250k per year = wealthy and I don't care where you live.

Thinking someone who makes $250k per year isn't rich..... is why we have such a problem with the march of socialism in this country. For every "have" who makes $250k per year there are 15 "have nots" who make next to nothing.
Seriously, we have a different opinion on the definition of "rich".


https://www.moneycrashers.com/rich-d...rth-lifestyle/
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Old 11-29-2019, 11:34 AM
 
8,008 posts, read 12,078,486 times
Reputation: 9066
Once again, being able to max your 401 K is not a human right, or something the average American does or can do.

It means you're well off.

I can do that, and I make under six figures, a fair amount under.

I consider myself pretty well off. It's all perspective. I'm not sure how many times or incarnations of this thread can be done, lol...

80% of it is mentality and how you perceive the world.

There will always be rich people who whine and there will always be people who do so-so who think they do quite well.
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Old 11-29-2019, 11:39 AM
 
27,332 posts, read 34,235,496 times
Reputation: 35146
Quote:
Originally Posted by jobaba View Post
Once again, being able to max your 401 K is not a human right, or something the average American does or can do.
Agreed.

Quote:
Originally Posted by jobaba View Post
It means you're well off.

Yup.


Quote:
Originally Posted by jobaba View Post
I can do that, and I make under six figures, a fair amount under.

I consider myself pretty well off. It's all perspective. I'm not sure how many times or incarnations of this thread can be done, lol...

80% of it is mentality and how you perceive the world.
Of course it is.


Quote:
Originally Posted by jobaba View Post
There will always be rich people who whine and there will always be people who do so-so who think they do quite well.
Exactly.
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Old 11-29-2019, 11:49 AM
 
Location: Silicon Valley
4,105 posts, read 1,870,387 times
Reputation: 6840
It's not just the young, the old do it too. Had a couple over yesterday (no kids) for the holiday to dinner. Early 50's. They've had their own business for 15 years now. When business is good, they party. When business is bad, they fight. He loves liquor and partying, she'd make all the retailers happy. I know they make money, they owe over $200K in taxes, but I know they'll die broke and penniless. They get money in and it's a race to who spends it first.
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Old 11-29-2019, 11:59 AM
 
Location: Formerly Pleasanton Ca, now in Marietta Ga
6,282 posts, read 4,517,697 times
Reputation: 8684
Quote:
Originally Posted by BeerGeek40 View Post
Agree that location has a lot to do with things. $250k per year = wealthy and I don't care where you live.

Thinking someone who makes $250k per year isn't rich..... is why we have such a problem with the march of socialism in this country. For every "have" who makes $250k per year there are 15 "have nots" who make next to nothing.
I could be happy with $250k, but that’s just me and my circumstances. Live in the San Francisco Bay Area raising a family and it’s far from rich. ThAt amount gets you a houses that is a 50 year old tract home at 1600 square feet. Show that to most people and they would not describe you as rich at all. Live in Birmingham Alabama and you’re not rich, but pretty darn comfy.
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Old 11-29-2019, 12:01 PM
 
1,066 posts, read 328,334 times
Reputation: 3863
Quote:
Originally Posted by RationalExpectations View Post
https://nypost.com/2019/10/23/millen...feel-strapped/
Jenny Castillo chronicles her life as a HENRY: High Earning, Not Rich Yet millenial here on her blog Jenny the Henry: https://jennythehenry.com/index.php/...es-henry-lows/
Yes, so-called Adulting can be expensive, Jenny, if you make stupid choices. Welcome to being a grown-up.
Poor Jenny. Perhaps we could set up a GoFundMe page for her and her orange Siberian cat?
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Old 11-29-2019, 03:12 PM
 
2,041 posts, read 1,412,637 times
Reputation: 3529
Quote:
Originally Posted by ChessieMom View Post
No way. My brother made nearly 250k a year, but I would never consider him "rich". No one that knew him would have, either. He was certainly comfortable, and made enough to be able to plan for a decent retirement in a mountain home. I think there is a long way between "comfortable" and "rich". Obviously it depends on your own experience, but one should not make such a blanket statement without qualifying it with other criteria - the most important being LOCATION.
Do most Americans know how each State varies in terms of COL? When I read some comments by posters I either think they are living in the past or have never travelled and experience what it's like living elsewhere.
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Old 11-29-2019, 04:02 PM
 
3,024 posts, read 1,980,517 times
Reputation: 6827
Quote:
Originally Posted by Stockyman View Post
Do most Americans know how each State varies in terms of COL? When I read some comments by posters I either think they are living in the past or have never travelled and experience what it's like living elsewhere.
No, they don’t. They hear “that person makes more than me”, they must be frivolous and rich.

DC is one of the most expensive metros in the country.
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