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Old 09-23-2007, 11:48 PM
 
Location: Monterey Bay, California -- watching the sea lions, whales and otters! :D
1,918 posts, read 6,541,287 times
Reputation: 2704

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I've been reading threads about housing costs, mortgages, and other state boards where people are trying to figure out .... but don't ask others directly .... what DO people DO to earn their money?

I'm always curious about that because I see so many cars like Lexus, BMW, and Mercedes in my neck of the woods, that I often wonder what these people do. I know they're not all attorneys and doctors, and, even here, many doctors have been known to move because of the high cost of living.

So, for the curious amongst us, if you have bought a $350,000 to way over that amount home in the past couple of years, how do you afford it, plus expensive cars, furniture, clothing, accessories, etc.?

Is there one business field that is more common, or profitable, or are there many ranges of ways that people are earning a high income? I think it admirable, however, I really don't want to walk up to someone and ask....

Maybe you are a successful business owner, or a professional, or have an inheritance....many ways to make money. So, this board being anonymous (basically) gives us the opportunity to find out what inquiring minds want to know!! THANKS!
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Old 09-24-2007, 12:49 AM
 
3,632 posts, read 15,432,684 times
Reputation: 1321
Whenever I travel to a really nice area and see big, beautiful homes, I always want to knock on the doors and ask what they do for a living. I get so curious!! I always
guess doctors, lawyers, and CEO's.

We bought a home for $301k, not quite your range of $350k+, but oh well. I work as a psychotherapist and my BF is in grocery. I also have a small private practice (which I pay rent on, my share being $425/month) that I plan to build much bigger in the next few months. We own 4 cars, all used now. One Lexus (my car), and he has 2 firebirds (one TA that he bought new), and one Nissan that he drives daily. Our furniture is a few years old. I shop for clothes every couple of months, he rarely does as he hates to. I only have a couple of real pieces of jewelery. I only have one designer purse (a Dooney and Burke) that I found at a good deal.

I plan on opening up a business late next year that should be very lucrative and that will be my main job. I may have to sell my car (or cars) to get it started.

Luckily, we only have a very small credit card debt (only from his trip to TX to buy one of his cars). I do have a student loan of $100k, that I plan to pay back someday.

I do want to scale back for a while on things so we can hire a housekeeper. That would make life easier.

I know my one neighbor is a doctor (kidney specialist), a couple others are early retirees, and another I think is in sales. I don't know the rest. I'm curious to know about others on this forum.
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Old 09-24-2007, 01:00 AM
 
Location: southern california
61,292 posts, read 82,179,011 times
Reputation: 55458
Quote:
Originally Posted by Wisteria View Post
I've been reading threads about housing costs, mortgages, and other state boards where people are trying to figure out .... but don't ask others directly .... what DO people DO to earn their money?

I'm always curious about that because I see so many cars like Lexus, BMW, and Mercedes in my neck of the woods, that I often wonder what these people do. I know they're not all attorneys and doctors, and, even here, many doctors have been known to move because of the high cost of living.

So, for the curious amongst us, if you have bought a $350,000 to way over that amount home in the past couple of years, how do you afford it, plus expensive cars, furniture, clothing, accessories, etc.?

Is there one business field that is more common, or profitable, or are there many ranges of ways that people are earning a high income? I think it admirable, however, I really don't want to walk up to someone and ask....

Maybe you are a successful business owner, or a professional, or have an inheritance....many ways to make money. So, this board being anonymous (basically) gives us the opportunity to find out what inquiring minds want to know!! THANKS!
think small. americans like big. big house big car so forth. french like small small is good. lots of yuppies would love to lease a small studio in urban area even w/o parking. does this help?
small properties that is how i did it. ramsey is a talk radio host for austerity.
do listen to him. get on the internet and find him. you dont flip houses you pay them off. you dont buy new cars.
stephen s
san diego ca
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Old 09-24-2007, 01:04 AM
 
Location: southern california
61,292 posts, read 82,179,011 times
Reputation: 55458
Quote:
Originally Posted by Bunky39 View Post
think small. americans like big. big house big car so forth. french like small small is good. lots of yuppies would love to lease a small studio in urban area even w/o parking. does this help?
small properties that is how i did it. ramsey is a talk radio host for austerity.
do listen to him. get on the internet and find him. you dont flip houses you pay them off. you dont buy new cars.
stephen s
san diego ca
i am sorry this one really jumped on me after i hit the send button.
you cook let me spell that for you.
C O O K. american spend a fortune eating out women will threaten husbands with divorce if they dont do this constantly. not only is it expensive but
unhealthy tons of fat and sugar poured in marginal food to make it taste good and the quality of the food is not that good.
in france they would yell at the owner for charging and serving such stuff.
stephen s
san diego ca
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Old 09-24-2007, 06:34 AM
 
25,720 posts, read 25,872,349 times
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I dont know either but am guessing most of those guys are lawyers or heart surgeons (in fact, we did a remodel not long ago for a guy in Paradise Valley who actually is a heart surgeon!) and his wife was a stay at home mom. It was only about a 6,000 sq ft house but they wanted to upgrade the kitchen and dining area, so....
Otherwise, I believe these days, with housing being so out-of-reach, maybe its best that a guy has 2 wives, both working, to help pay for it, lol.
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Old 09-24-2007, 06:46 AM
 
9,514 posts, read 10,174,491 times
Reputation: 19843
Well where my folks live - You can't even touch a house for under half a million.

I think some live above their means.

I,too, Often wondered how they do it.
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Old 09-24-2007, 07:52 AM
 
Location: South Carolina
5,297 posts, read 6,043,964 times
Reputation: 8176
Quote:
I,too, Often wondered how they do it.
Me too.But I guess many aren't with forclosures up.
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Old 09-24-2007, 12:31 PM
 
Location: Monterey Bay, California -- watching the sea lions, whales and otters! :D
1,918 posts, read 6,541,287 times
Reputation: 2704
I'm glad I'm not alone in this. Honestly, sometimes I drive down streets and look at these million dollar homes being sold and I just really do wonder how do they do it? Are most people private business owners? I own a small home in California, but I live on a shoestring budget. Everywhere I look around me are tons of people with new (expensive) cars, designer clothes, fancy gadgets.

Or, is everyone just borrowing on credit??
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Old 09-24-2007, 01:15 PM
 
Location: LaSalle Park / St. Louis
572 posts, read 1,903,185 times
Reputation: 260
I think a lot of people live beyond their means. They spend and borrow money and don't think about 20 years in the future.
People have differnet priorities. I've been in big homes with very little furniture. And forget about nice art work.
I see parents in expensive cars picking up their kids at a city public school.
We (my wife, 2 kids and myself) live with our means so we can travel, afford nice things and put away money for the future. I was brought up that way. We had very little material goods but a strong close family and friends. My wife was brought up to spend and thinking expensive is better. We found a happy medium.

And Bunky. Don't forget your punctuation (spend a fortune eating out women )
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Old 09-24-2007, 01:50 PM
 
5,140 posts, read 13,144,635 times
Reputation: 4129
Bunch of naysayers.

Most of these people ($350k+ houses) have substantial incomes with dual earners and/or sold a home in the past where they realized nice gains and put the money down on the new home.

They are in all industries...some self-employed some not. Some have substantial debt...others do not. Some people manage their money better than others and can afford a bigger home.

They are certainly not all living beyond their means.
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