Awkward Wealth

[W2R]

This thread is 22 pages long and I still haven't contributed to it, so it's about time.

I *never* feel awkward about wealth. How would anyone even know if I am wealthy or not? It's nobody's business how big my nestegg is, and I don't think it's becoming to brag about it. These topics just never come up.

My vehicle is a five year old Toyota Venza, a type of vehicle driven by many middle class people around here. I chose it because it meets my needs, not for "look at me" value. I haven't replaced it because it only has 17,000 miles on it (due to the fact that everything I need is close by).

I don't wear a Rolex because I don't see the point (for me, anyway). I just want my watch to display the time and to be accurate, and I find a Timex to be quite sufficient these days.

Like fancy cars and expensive watches, I find that most goodies that people associate with great wealth are just not superior to regular stuff any more. These goodies certainly aren't worth paying higher prices, IMO. When you can't afford these things, it is easy to get caught up in longing for them. But when you can, it can be a real shock to discover that they really don't offer you anything you don't already have.

So why buy these things and flaunt them in front of people? Insecurity? THAT is what would be awkward, IMO, not wealth.

[purplesky]

Quote:

Originally Posted by kombat It hasn't seen any real inflation, either.

College costs are up. The average car is about 32k. Food costs have risen. Housing in many areas is going way up. Renting is getting more expensive.

My income is just high enough to where I can kind of ignore inflation but occasionally at the grocery store I do get sticker shock.

I guess for most people on this website inflation isn't even a issue.

[Sarah in SC]

Andre, I LOVE your car stories! Just thought you should know that.

[rodi]

I don't drive expensive new cars. I don't even own a watch. But I have my splurges. Why not, I can afford it.

For me it's vintage le-creuset cookware. (I strongly prefer the design of some of the older styles.) So - if I spend $50 on ebay for a saucepan and lid, and it's something I'll use a lot... so be it. Some of my friends don't get it. (The ones who cook a lot get it, though.)

That and we splurged on our stove. Bertazzoni - really cool looking, cooktop is fabulous... the oven, unfortunately, underwhelms me. (very wide, but not deep... inconsistent heat so not so great for baking, but fine for roasting.)

So for me - I have my splurges... they make me happy. I get a lot of enjoyment out of them and can afford them.

If someone else wants to spend money on a watch that's the price of a condo, and it makes them happy... so be it.

[MichaelB]

Quote:

Originally Posted by W2R I don't wear a Rolex because I don't see the point (for me, anyway). I just want my watch to display the time and to be accurate, and I find a Timex to be quite sufficient these days.

You have a watch? Luxury! When I grew up we were so poor we couldn't even afford some free time..

J/K, can't resist channeling Monty Python. But, on a more serious note, what do you need a watch for?

[Andre1969]

Quote:

Originally Posted by Sarah in SC Andre, I LOVE your car stories! Just thought you should know that.

Cool, glad you like 'em! As for that lady with the '65 New Yorker, I haven't seen her around the car show circuit in awhile. Shame too, because I thought it was really cool to see a woman so passionate about cars. Usually at these car shows, it's just the men showing off their toys, and most of the women who have tagged along tend to be bored senseless.

[eta2020]

Quote:

Originally Posted by rodi I don't drive expensive new cars. I don't even own a watch. But I have my splurges. Why not, I can afford it. For me it's vintage le-creuset cookware. (I strongly prefer the design of some of the older styles.) So - if I spend $50 on ebay for a saucepan and lid, and it's something I'll use a lot... so be it. Some of my friends don't get it. (The ones who cook a lot get it, though.)

I also splurge .... But not cars or watches. More like on food and wine where we spend substantially more then average family.

[W2R]

Quote:

Originally Posted by MichaelB You have a watch? Luxury! When I grew up we were so poor we couldn't even afford some free time.. J/K, can't resist channeling Monty Python. But, on a more serious note, what do you need a watch for?

I don't like fumbling for my cell phone! It's much more subtle to sneak a glance at my watch when I want to know what time it is.

So then (you ask, I would imagine), why would I want to know the time? The answer is that I like getting home before rush hour, I like getting to places before they close, I like knowing whether it is getting dark due to a looming thunderstorm or simply due to dusk, I like knowing that I have a few more hours until my preferred bedtime, I like knowing how long I spent lifting weights at the gym, I like being able to see if a particular store is so crowded due to the time of day or if maybe something else is going on, I like knowing how long it takes for my coffee machine to brew coffee, and so on. Data.

[haha]

I would enjoy a Carrera a lot. But unfortunately I would always be worried that some idiot would be doing assisted parking with her old Taurus trying to make a space to get out.

Other than that, I don't want any identifiable wealth markers, or expensive stuff. A while back IPhones became such robbery bait around here that I now wear a Casio watch to avoid having to pull my phone out. If I am downtown, I duck into a hotel before making or returning a call.

The biggest, surest, and most expensive wealth marker is a well dressed, pretty woman 30-40 years younger than her guy. If I want to guess someone's net worth, that is my main clue. It would be impolite to apply this thinking to an older woman with her young escort.

Ha

[brett]

My watch, a Certina with lots of sentimental value,is 39 years old. Just gave away my 17 year old Camry and now only have our 2006 Accord. And I do wear a fair amount if Nautica brand clothing because I like the fit and the quality.

We travel 5-7 months of the year.

Not certain what that makes us in other people's opinions. But we really could care less. Why be so quick to judge others by what they choose to consume.

Live and let live, above all MYOB. Why get your shirt in a knot over what others decide to buy? Life is too short for that nonsense.

[REWahoo]

Quote:

Originally Posted by MichaelB But, on a more serious note, what do you need a watch for?

+1

If you carry a phone a watch is nothing more than male jewelry. Bling is not my thing.

[aaronc879]

Quote:

Originally Posted by REWahoo +1 If you carry a phone a watch is nothing more than male jewelry. Bling is not my thing.

I agree. I haven't worn a watch since I got my first cell phone in 2000.

[LoneAspen]

Quote:

Originally Posted by purplesky The H1B visa is just one example of how college grads are getting screwed and I see it first hand. 2 workers from India will work 16 hour days keeping wages artificially low so why hire some American college kid who is too expensive.

I see this myself, too, working in Silicon Valley. Many of our full-time employees, and also interns, are Indian. They're very highly educated, and while I'm not privy to their salaries, I suspect many of them are paid lower on average.

And they are willing to work longer hours. In fact, I have to catch myself at times from taking advantage of this. My plate is overflowing with projects, and I've pushed a few to one of my coworkers because he always seems to have time for them.

I now suspect it's not because his plate isn't already full, but rather he's working later hours, and possibly on weekends. I'm not sure if it's cultural, or whether he feels he has to "prove himself", or what. I might pull him aside one day and try to find out how many hours he's really putting in, if he's willing to talk about it. If he's putting in 50/60+ hours a week, then we need to talk to our manager about getting another req open for a FTE rather than taking advantage of somebody.

[eta2020]

Quote:

Originally Posted by haha The biggest, surest, and most expensive wealth marker is a well dressed, pretty woman 30-40 years younger than her guy. If I want to guess someone's net worth, that is my main clue. Ha

You are absolutely correct

[LARS]

Quote:

Originally Posted by haha The biggest, surest, and most expensive wealth marker is a well dressed, pretty woman 30-40 years younger than her guy. If I want to guess someone's net worth, that is my main clue. It would be impolite to apply this thinking to an older woman with her young escort. Ha

Disagree. It is the biggest, surest and most expensive form of wealth destruction.

[retire2020]

Quote:

Originally Posted by eta2020 What Kind Of Car Do Millionaires Drive? - ElevenTwo Fund Management "The research shows an overwhelming majority [86% of the people] that we see driving luxury cars like Mercedes, BMWs, Acuras, Volvo (my personal favorite), and Lexus are not millionaires. Most of society believes that if someone is driving a Porsche, then they are a millionaire, but it’s the exact opposite. If you see someone sitting in a Cadillac at a traffic light there is an 86% chance that they are not a millionaire." Expensive watch likewise indicates "high earner" but not necessarily "high assets".

How true eta2020! For past 16 years whenever we went out for a walk, my wife would notice a luxury car and say that our neighbors are rich and I would always say that it's a perception. Last May when I was in Vegas(working not gambling) I got a call from my neighbor asking that he urgently needed 7K. He drives Mercedez Benz and his brother across the road drives Porsche. When I asked him why, he said his Uncle had died and he needed money. I said I'll call back and sent my wife to bank. I called him back after half an hour and asked him same questions….different story - missed mortgage payment, loss of consulting etc…That raised doubts in my mind and I asked my wife not to handover the money - It was so close that my neighbor was waiting outside the bank and it was a matter of few minutes but thank god I was saved by asking the same questions again and getting diff answers. His son goes to private school, his wife has never worked where as my kids go to public school and my wife works part time. What a scam!
A month later I ran into my other neighbor and he asked if I was approached for money. It turned out that about five neighbors were approached and three gave him money and are stuck. Meanwhile his brother drives around Porsche, this guy sold his Benz and bought a brand new Nissan Maxima where I still drive 12 and 8 years old cars. His wife was telling my wife that they are planning to send his son to Ivy Leaugue college. My daughter just started her PharmD in state public college five minutes from my home. I wonder how long he has been scamming people!

[brewer12345]

Quote:

Originally Posted by REWahoo +1 If you carry a phone a watch is nothing more than male jewelry. Bling is not my thing.

I beg to differ. I wear a black plastic Casio watch that would never be described as jewelry, especially after 5 years of wear. I wear a watch for lots of reasons, not least of which s that I am often out of cell service range or have the damned thing shut off and need to be able to watch the time. I also sometimes do not want to dig a phone (which may or may not have a charge) out from under several layers of clothing.

[rodi]

Quote:

Originally Posted by retire2020 I got a call from my neighbor asking that he urgently needed 7K. He drives Mercedez Benz and his brother across the road drives Porsche. When I asked him why, he said his Uncle had died and he needed money. I said I'll call back and sent my wife to bank. I called him back after half an hour and asked him same questions….different story - missed mortgage payment, loss of consulting etc…That raised doubts in my mind and I asked my wife not to handover the money -

It takes some serious bravado to try and rip off people you live next to. That will make for some very unpleasant evening strolls or chats over the fence.

Don't most con artists work outside their own neighborhood?

[AnIntentionalRoad]

Would someone please shoot this thread and put it out of its misery?

[H2ODude]

Quote:

Originally Posted by AnIntentionalRoad Would someone please shoot this thread and put it out of its misery?

+1 I'm thinking' it doesn't paint a very complimentary picture of us.