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Old 08-05-2016, 11:25 AM   #421
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That's it! I MUST be wealthy, I do NOT have to eat Peanut Butter if I do not want to, and I don't.
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Old 08-05-2016, 11:40 AM   #422
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Yes, it is all about having options. One can buy a fancy car, but doesn't. She can travel, but won't. He can eat out, but does not care to.

However, having the options but not exercising them leaves little clues to an outsider that a person has some "wealth". Hence, there are no visible "indicators of wealth".
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Old 08-05-2016, 11:51 AM   #423
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Quote:
Originally Posted by sailor View Post
I think you are behind times. We had quite a big discussion about it at work.
Older guys (let say >50) were talking & lusting about cars, restoring their Corvettes, etc.
Out of the younger crowd, almost nobody cared (2 dudes). They don't mind nicer, comfortable ones, but super-cars or classics are not on their radars.
This was a sample of around 40 engineers (including 3 women), I'm guessing ages from late twenties to sixties.
That might explain why the prices at Barrett-Jackson have dropped? I thought it was the recession.
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Old 08-05-2016, 12:10 PM   #424
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Yes, it is all about having options. One can buy a fancy car, but doesn't. She can travel, but won't. He can eat out, but does not care to.

However, having the options but not exercising them leaves little clues to an outsider that a person has some "wealth". Hence, there are no visible "indicators of wealth".
As I said earlier, I don't think that was the point of the thread at all. It was (I believe) your own personal indication to you of what you do or would do if you are financially wealthy. Not whether someone would view you, or you them, wealthy based on what you do or spend things on.
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Old 08-05-2016, 12:35 PM   #425
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My take is that it's more than just having options, it's actually exercising them. Some people like cars, some like travel and some like food and drink. Others like clothes and jewelry.

Yes, wealth means having options, more options than the economically challenged.

But if you don't have a little fun with your "big stack" of dough, what is the use of having it?
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Old 08-05-2016, 01:41 PM   #426
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Surely, of what use are the options if they do not get exercised? But one does not have to do them all (or even can afford to). The option that an individual chooses may not appeal to the average Joe or Jane, but it makes him/her happy and that's all that matters.

If we talk about a person himself feeling wealthy rather than how others view him, then it is even more vague. A person with $500K may feel wealthy, but another may need more. And relative to a billionaire, we are all paupers.

I have no fancy cars, but two nice homes at different climates to move between. A poster here has 4 (or is it 5) homes. I don't feel wealthy at all, but I am not envious either.
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Old 08-05-2016, 02:06 PM   #427
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Just ate two PBJ's and two bananas for breakfast. Nourishing, tastes good, and costs very little.

I prefer chunky. Yet another indication (as Khan would say) that I am not really a woman?

Am thinking of going big-time and switching to organic PB, as I've heard it tastes better than commercial.
I prefer the organic or "all natural"

The key for the "all natural" is that the ingredient list is short: Peanuts.

You have to stir it - because the oil separates out - so it's a bit more hassle... but you don't have any of the hydrogenated stuff they stick in the regular peanut butter... and it definitely has a different (better, IMO) flavor.
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Old 08-05-2016, 03:56 PM   #428
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Bragging either subtle or gross is the main pastime here. Since people here mostly think themselves wealthy, maybe bragging is an indicator of a certain level of financial wealth?

Ha
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Old 08-05-2016, 04:01 PM   #429
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Bragging either subtle or gross is the main pastime here. Since people here mostly think themselves wealthy, maybe bragging is an indicator of a certain level of financial wealth?

Ha
I don't know if "most" people here consider themselves wealthy... It seems there are 2 camps... Those that have learned to be happy on low income (with smaller nest eggs) and those that amassed bigger nest eggs and can live much larger (whether they choose to, or not).

Since my nest egg is smaller than many mentioned in the "do I have enough to retire" threads... I don't consider myself wealthy. I definitely have to watch what I spend...
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Old 08-05-2016, 04:07 PM   #430
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That might explain why the prices at Barrett-Jackson have dropped? I thought it was the recession.
Not entirely. Many of these classics and retro-mods are just going from auction to auction to see if the most recent owner can flip the car for a higher price.

Also, the big money collectors have bought all available models in the line of car they wish to collect (new inventory going stale with no buyers). Sellers are reluctant to say, for example, sell a 1955 Chev sedan they have spent $100 K to restore it for an auction price of 60% of that. So the reserve over $100 K doesn't get met and the car is not sold (off to the next auction).
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Old 08-05-2016, 04:19 PM   #431
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... I don't consider myself wealthy. I definitely have to watch what I spend...
I already spend more than I expected to. And my portfolio is flat for the last 2 years, which means I have been spending principal.

Yes, I have been watching. I am watching.

No sense of feeling wealthy here at all (even with the fancy booze that I have, which is worth a measly $2K total as I said ).
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Old 08-05-2016, 04:41 PM   #432
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The monthly statement just came in and I see that I'm up 55 grand from last month.

My bag was a little flat 2014 & 2015, but it's really doing well in 2016 -

More caviar and lobster this month!
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Old 08-05-2016, 04:52 PM   #433
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Congrats, RobbieB.

Can we expect monthly reports from you when the market goes into a screaming dive?
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Old 08-05-2016, 04:59 PM   #434
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Absolutely.

I share everything, the joy and the tears.

Oh yeah, the 2 years before I was happy if I didn't lose more than 60 grand a month. I think that was my biggest loss. It's all on paper ya know, it all goes up and down and all around.
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Old 08-05-2016, 05:05 PM   #435
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I think your motto should be: "Market goes up, I eat caviar. Market goes down, I eat caviar".

You do not have any other major expenses, so why not?
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Old 08-05-2016, 05:14 PM   #436
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Yeah Baby! I like you, you get me -

Planning on getting married in 2 years, girlfriend has a couple of kids and was a stay at home mom. Helping her. But yeah, other than the 80 grand or so for the house, not much.
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Old 08-05-2016, 06:12 PM   #437
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Well gosh, I'm not rich. I wouldn't think twice at staying at a motel 6 or Super 8, and having dinner at Denny's or Sizzler that night, the next time we go through a hurricane evacuation.

I think being rich is:

(1) Not feeling the need to constantly compare one's lifestyle and spending choices with the lifestyles and spending choices of friends and acquaintances

(2) Awakening to find one is sincerely, thoroughly happy each morning and staying that way pretty much all day long

(3) Not having to worry about the future, where the next meal is coming from or where to sleep each night

(4) Thinking of things and experiences that would brighten one's life in the future, and being able to afford those things and experiences.

(5) Feeling that one has ENOUGH. Eradicating that crazy-making hoarding/consumerist drive for once and for all.


+1 Such lovely thoughts. And they provide true peace and contentment!

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Old 08-05-2016, 06:32 PM   #438
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Thanks for the replies everyone!

TLR. Maybe I needed to be more specific. If you fall into category 3 below, what are some of the indicators that reflect that stage of wealth?


It was probably inevitable that some of the replies would at least allude to wealth vs happiness which I didn't really intend. I think that poor, middle, and upper income/wealth people can all be happy (or not). I only wanted to identify some of those things that wealthy people tend to do that others don't.

I would generally categorize rich/wealthy into 3 groups which also seem to be reflected in your replies:

1) The Bill Gates or Jay Leno with the resources to have the yacht with the submarine and dual helicopter pads. I think we all get the concept there. You literally have NO financial constraints to do anything. As @starry night pointed out, you are also unlimited in the ability to give.

2) The overly frugal millionaire next door. We all know the stories (and actually know a few of these people) who are "rich" or "wealthy" because, if they go out for dinner at all, would go to the Sizzler. Only on their 50th birthday would they go to Outback - if someone else were paying. They would not be caught DEAD in a Chart House or Ruth's Chris. There is NO way the air conditioner would be set to 72 on a hot summer day. Probably would not even be turned on, but at best 80 degrees.

For me, I just don't see the point. To die with the biggest bank account number possible? Contrary to what @Options said, I do equate some degree of wealth with spending. Perhaps I'm not using the right terminology, but many of these frugal people with lots of money might not have "financial" constraints on activities, but rather have mental ones.

Lets face it, no one has ever had a meal at Denny's and thought, "Man, that was awesome. I'm coming back tomorrow and having that again." That is not to knock Denny's. It is what it is. Of course I fall into the "live to eat" vs. "eat to live" category. Would I go to Denny's in a Hurricane evacuation (been through a couple myself)....sure.


3) The kind of person I'm talking about. One who has enough and will judiciously spend a portion of it. The person who will opt for the $3500 business class seat to Europe instead of the $1200 cattle class. This person knows what it means to spend the extra $2300 and actually thinks that it is a lot of money (it is!). He still chooses to spend it because he has enough and the comfort is worth it. This same person doesn't fret over spending an extra $1000 on a sunroof for his new Toyota 4Runner. Heck, not much difference between $37K and $38K anyway.


Again, maybe the wrong terminology, but to me wealth has a certain component of attitude. @WR2 makes a lot of good points, especially just having enough!

Though I fall into "Category 3," I would still not opt for the extra $2,300 for a seat. Instead, that same $ could buy me a couple more economy seats to Europe (so I could take two more trips with different friends). Doing so would leave more funds available to give to charity. I enjoy planning frugally so I can support the good work of underfunded non-profits AND still have my fun.

So, I do "judiciously spend" the savings, but still enjoy getting as much "bang for the buck" as possible. For example, DS was astounded that his mother (who shops at thrift stores and Aldi) has treated him to a Row 10 floor seat when he and I attend a Paul McCartney concert in a couple weeks. As I explained to him, seeing McCartney in person is on my bucket list and, since DH is unable to go with me, I am thrilled that DS will!!
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Old 08-05-2016, 08:05 PM   #439
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Bragging either subtle or gross is the main pastime here. Since people here mostly think themselves wealthy, maybe bragging is an indicator of a certain level of financial wealth?



Ha

I am SO rich I have upgraded to almond butter. And I'm never going back! Never!🤑


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Old 08-05-2016, 08:23 PM   #440
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Almond butter is really good!

Have you tried cashew butter?
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