Indicators of Wealth?

[RobbieB]

Ah sake, I know it well and have a couple bottles here for Japanese take out -

 

[NW-Bound]

For something more exotic, try Ng Ka Py, a Chinese liquor. It's been decades since I have had a bottle. Don't know who stocks it though. I forget about this till now.

PS. Just found out that John Steinbeck liked it.

 

[Souschef]

This was before the prices went through the roof!

 

[RobbieB]

A Scotch man appears!

 

[NW-Bound]

All right!

Why do Scotch bottles come in round canisters? My bottle of Oban comes like that, but I did not know it's a tradition.

 

[RobbieB]

Not all do. This one came in a red "fold open hex box" that my girlfriend said looked like a coffin;

 

[NW-Bound]

Well, since I found my long-missing bottle of Oban, I am going to pour myself a shot tonight after dinner to renew my self-education effort of learning to appreciate single-malt Scotch.

I think I still have a bottle of common Johnny Walker Black Label, and I should try to distinguish the difference.

 

[Souschef]

I got two bottles of the JW Explorers Club Silk Road at an airport DF store before they had to pull the plug on the name.

 

[RobbieB]

I'll pour a "wee dram" of the rare cask too. There's not much left. That was last year's Christmas present to myself.

 

[athena53]

All right!

Why do Scotch bottles come in round canisters? My bottle of Oban comes like that, but I did not know it's a tradition.

I found that packaging very handy for checking in baggage; just stuff in a few T-shirts to pad it and it's good to go! The original design might have been to protect the bottles from banging against each other.

 

[Amethyst]

We rented out a modest townhouse we owned, and when we visited it to fix something or to inspect, we noticed that ours was one of the cheapest vehicles (by far) in the parking lot. People with $250K townhouses without garages, parked BMW, Mercedes, or Cadillac in their assigned spaces. One couple had matched BMW 7-series sedans! It seemed a bit upside-down to me, but to each to his own.

If I parked a Maserati in the driveway of my modest tract house the neighbors would not look at me the same and I would need a bigger house in a more "upscale" neighborhood. And that would be expensive.

 

[Markola]

We rented out a modest townhouse we owned, and when we visited it to fix something or to inspect, we noticed that ours was one of the cheapest vehicles (by far) in the parking lot. People with $250K townhouses without garages, parked BMW, Mercedes, or Cadillac in their assigned spaces. One couple had matched BMW 7-series sedans! It seemed a bit upside-down to me, but to each to his own.

No doubt most were leased, too.


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[Corporateburnout]

We rented out a modest townhouse we owned, and when we visited it to fix something or to inspect, we noticed that ours was one of the cheapest vehicles (by far) in the parking lot. People with $250K townhouses without garages, parked BMW, Mercedes, or Cadillac in their assigned spaces. One couple had matched BMW 7-series sedans! It seemed a bit upside-down to me, but to each to his own.

We live in a development with townhomes in the $500K-600K range. Our neighbors a couple in their late 50's with 2 matching late model leased BMWs requested a deadline extension to pay a $1500 assessment levied by the association. Their unit is also mortgaged to the max but they never miss a golf deadline....

 

[Amethyst]

Even so, those would've been pricey leases, and somebody had to come up with a lease down payment.

We are of the "drive cheap and live in a nicer house" camp, but as I said, that's just us. The nicer house costs vastly more to maintain, property taxes are twice as high, etc. And those townhouses, while nothing to brag about, were hardly what you'd call slum homes. So I think the inhabitants just managed their desire for luxury differently.

No doubt most were leased, too.


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[aja8888]

Even so, those would've been pricey leases, and somebody had to come up with a lease down payment.

Putting a down payment on a car lease can be optional and generally not a good idea to do so. The dealers usually advertise a low lease payment with a substantial down payment to entice applicants as the down payment just reduces the loan amount. With good credit, one can roll the down payment into the leased amount which will make the monthly payment higher. It's smart to do that as if the car gets wrecked early on, there is no recovery on the down payment if you paid it.

I suppose you could also put the down payment on a credit card if the dealer insists on one.

 

[Amethyst]

They sound like "grasshoppers," who count on everyone else to be patient while they fund their personal "priorities."

Curious...how do you know their unit is mortgaged to the max? Is there a public database, or do they talk about it?

We live in a development with townhomes in the $500K-600K range. Our neighbors a couple in their late 50's with 2 matching late model leased BMWs requested a deadline extension to pay a $1500 assessment levied by the association. Their unit is also mortgaged to the max but they never miss a golf deadline....

 

[Corporateburnout]

They sound like "grasshoppers," who count on everyone else to be patient while they fund their personal "priorities."

Curious...how do you know their unit is mortgaged to the max? Is there a public database, or do they talk about it?

It's public record at the registry of deed in our state and it's available online. Also when they first bought the unit the lady told DW they barely made the income to loan ratio to qualify for the mortgage.

 

[Another Reader]

I love simple food simply prepared;

Prime tenderloin medium rare, hash browns and a quartered tomato -

On a 1979 Corelle plate! I know, because the same set is in the kitchen cabinet here. Spend the money on the IMPORTANT stuff, right?

 

[Danmar]

I find treating friends is a touchy subject. Sure they will accept on dinner on us if we have stayed with them. Sometimes they will accept us picking up the wine if we picked an extra pricey one. Otherwise, it is pretty balanced in terms of payment.

Family can be very different though.

Agree. It's mostly family with us. We have a couple of friends who couldn't afford to split dinners, so we got in the habit of paying. Not often but consistently. Seemed like the right thing to do. Also, young friends of my daughter, etc or older friends of my mother who really don't have the means.

 

[jabbahop]

I really enjoy learning about the different ways people in the community spend (and don't spend) money.

I would guess my wife and I spend < $500 on alcohol a year (@ home and when eating out).


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[NW-Bound]

I do not drink that much of spirits. I drink more red wine, and a little beer. I have no idea how much I spend on alcohol a year, because I do not track it separately from grocery bills. So, it cannot be that much of a percentage of the total grocery bills, as Quicken tallies up for me.

The stash that I have is accumulated over the years. I am gifted and also buy more booze than I consume, so it piles up. This is fine with me, because spirits keep forever, and looking at my hoard gives me a warm and fuzzy feeling, like I am rich.

 

[marko]

The stash that I have is accumulated over the years. I am gifted and also buy more booze than I consume, so it piles up. This is fine with me, because spirits keep forever, and looking at my hoard gives me a warm and fuzzy feeling, like I am rich.

I often mention my wealthy, eccentric and notoriously stingy grandfather on this forum.

When we moved into his house after his passing (and a complete renovation) we found 11 gallons (yes gallons) of his prized bourbon! "you never know if they'll stop making it..."

Almost 30 years later, I still have a gallon and a half left.

 

[NW-Bound]

11 gallons of booze do not add up to that much wealth. It has to be in rarefied vintage to be considered part of one's AA.

Let's see. TotalWine is selling Macallan 25-yr for $1,100 a bottle. For 11 gallons, that works out to 56 bottles, for a total of $62K. That's more than 1% of most people's portfolio, and should be tracked in Quicken.

Don't know about rare Scotch, but I think XO Cognac has not kept up with inflation. It makes a lousy investment.

 

[marko]

11 gallons of booze do not add up to that much wealth. It has to be in rarefied vintage to be considered part of one's AA.

Let's see. TotalWine is selling Macallan 25-yr for $1,100 a bottle. For 11 gallons, that works out to 56 bottles, for a total of $62K. That's more than 1% of most people's portfolio, and should be tracked in Quicken.

My comment was in reference to your post of accumulated liquor stock. Grand dad's wealth was exceptional and had no relation to his bourbon shelf.

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[HFWR]

My comment was in reference to your post of accumulated liquor stock. Grand dad's wealth was nine figures and had no relation to his bourbon shelf.

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I think my granddad was worth about nine bucks...

My "liquor cabinet" is almost nonexistent at this point, perhaps because I actually drink it. ;-)

Haven't had a good reason to restock...