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[quote=cokeman;27302796]i think it goes like this.
-they have nice teeth. poor's can't afford dentist.
- they drive a Mercedes-Benz.
- they have nice clothes such as Gucci and Ralph Lauren etc.
Rich means different things to different people. I would define rich as - No debts except as related to tax deductions or business. Not worried about money for regular activities even in market downturn. May budget and care about cost or price of items even if don't have to.
My wife did mortgages for 30+ years. Rich? You'll never know from the outside. She saw people with big houses, multiple cars and lavish lifestyles who couldn't come up with $100 cash. Some of them had incomes in excess of $200,000. Our friends dad drove old clunker cars and dressed like he was going on a hayride, but was sitting on millions from land deals. She had a young couple come in who had amassed a giant down payment for their house by being frugal on modest incomes. Now that they are older, their lifestyle from their younger, more frugal ways, is paying off big time.
Rich is a relative term. Lifestyle escalation makes many people "poor" on big incomes. Rich? Being happy and not worrying about money is it for me.
The real D-bags will just come right out and tell everyone overAndoverAndoverAndover again in numerous different ways about their 7 (hehe) or 8 digits net worth. Insecure and transparent, this type gets mocked mercilessly on TV shows like "Silicon Valley' and IRL, with people rolling their eyes.
So what you're saying is - a 'coke head' tried to impress you with his words in a dive bar rather than with his car - lol (and you believed him because he was in jeans and a t-shirt)? Why would a guy in a local dive bar tell you he's a millionaire; in my mind, that's just as bad (if not worse) than someone who tries to impress you with a car (or anything else).
Because we were sharing our portfolios after a period of time of talking about stocks and investments..... I've actually seen his a couple of his portfolios on his phone. I had known of him for quite a while as a customer at the same dive bar but never once thought he was a pretty well to do individual. He wasn't trying to impress.. never threw money around or showed off. It just came up in conversation and he was pretty forthcoming. Had I not shown interest in stocks, I would probably never know any more about him other than he had a habit and frequented the same bar as I did.
It is a low class dive bar. Probably a welcome surprised that there is a regular customer that actually shared an interest in stocks.
Probably run into him today and share more of what he traded... or more likely point out positions that I stayed in too long.. lol He's also a news junkie so I get the low down on news that I missed while I was work...
I was referring to the Amex Concierge Service (not relative to travel) and all it entails (available on Platinum and the Centurion to different degrees). As I mentioned previously, anything travel-specific tends to overlap with elite status on most major airlines anyway.
That said, I don't think any credit card can make anyone look rich - as it's in a person's wallet most of the time anyway, lol.
what kinds of things do their concierges do for them? i remember we tried our credit card concierge to help with travel plans and it was very obvious that they were no better than us just running an online search. it was basically them becoming the middle man between us and expedia. im not sure what the concierge is willing to do so im not sure how to value it.
Having enough money to live the rest of your life in the lifestyle of your choosing, without having to work.
that is how i have always seen it personally. having the money to no longer have to work if you dont want to. but that is coming from someone with a strong desire to retire. someone else who wants to work forever, makes a high income but spends it all and doesnt care because he wants to keep working will probably view it differently.
that is how i have always seen it personally. having the money to no longer have to work if you dont want to. but that is coming from someone with a strong desire to retire. someone else who wants to work forever, makes a high income but spends it all and doesnt care because he wants to keep working will probably view it differently.
He may view it differently, but I don't care how much someone makes, if they ”spend it all”, how can they be considered wealthy?
I guess if they spend it all on real estate, art, or other things that appreciate in value, sure. But if they are spending it all on cars, vacations, etc, with nothing to show for it, are they wealthy?
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