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View Poll Results: Everyone has a different view of what represents nominal wealth, but whatever your net worth is, do
Yes 121 54.75%
No 100 45.25%
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Re: How wealthy do you feel?
Old 05-16-2007, 05:31 PM   #21
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Re: How wealthy do you feel?


"I've got all the money I'll ever need....if I die before 8:30"

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Re: How wealthy do you feel?
Old 05-16-2007, 05:35 PM   #22
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Re: How wealthy do you feel?

Quote:
Originally Posted by calmloki
while we've more assets than most of our friends we also have between nada and diddly for pensions, paid healthcare, 401k, SS .... Don't work as hard as my folks did, aren't as smart
Sigh. What can one say?
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Re: How wealthy do you feel?
Old 05-16-2007, 05:54 PM   #23
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Re: How wealthy do you feel?

Taken from a speech by Bill Moyers at UT Austin to put things in perspective:

"The perspective contained a model of the earths population shrunk to a village of precisely 100 people, with all the existing human ratios remaining the same. Of the 100 people, 57 would be Asians, 21 Europeans, 14 would be from the western hemisphere (north and south) and 8 would be from Africa. 52 would be female and 48 would be male. 70 would have skin of color and 30 would be white. 70 would not be Christian and 30 would. 80 of the 100 would live in substandard housing. 50 would suffer from malnutrition.
Only one......yes one......would have a college education. And only one would have a computer. Finally, of the 100 people in our single global village, six would possess 59 percent of the entire worlds wealth, and all six would be from the United States."

Do I feel wealthy? I voted no, but maybe I should reconsider.

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Re: How wealthy do you feel?
Old 05-16-2007, 06:07 PM   #24
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Re: How wealthy do you feel?

I am wealthy. I have the kind of life I always dreamed I would have. I've accomplished many goals and I some I am still working on.
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Re: How wealthy do you feel?
Old 05-16-2007, 06:12 PM   #25
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Re: How wealthy do you feel?

Mmm don't feel wealthy. Not inclined to analyze the reason. But I think it is interesting that the poll is fairly close to even, yet more of the feel-wealthy- people posted in addition to taking the poll.
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Re: How wealthy do you feel?
Old 05-16-2007, 06:14 PM   #26
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Re: How wealthy do you feel?

I do not feel wealthy financially since I still working to pay bills and to save for retirement. The new standard definition of financial wealth is having assets of over $5 million USD. My target is a lot less than that. I believe $2 mil is more than enough for our retirement.

Obviously wealth is relative. In comparison to people in developing nations, we are rich. Compared to the people in the $5 mil club, we are poor. We just have to be satisfied with whatever we have and be grateful. Focus on other aspects of wealth - knowledge, love, kindness, peace and joy.
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Re: How wealthy do you feel?
Old 05-16-2007, 06:18 PM   #27
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Re: How wealthy do you feel?

I am surprised that so many say they feel wealthy. If they feel wealthy, why do they hang around here discussing how to squeeze the last bit of juice out of a dollar?

If I didn't feel financial insecurities I would A) not care too much about maximizing my return B) Certainly not care about how to learn what I could give up without suffering too much and C) Spend more on social life and diversions.

Ha
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Re: How wealthy do you feel?
Old 05-16-2007, 06:22 PM   #28
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Re: How wealthy do you feel?

Quote:
Originally Posted by HaHa
I am surprised that so many say they feel wealthy. If they feel wealthy, why do they hang around here discussing how to squeeze the last bit of juice out of a dollar?

There is something about Laurence and the way he says things that makes us feel good about our lot. So for a while many of us, though not rich, feel wealthy.
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Re: How wealthy do you feel?
Old 05-16-2007, 06:47 PM   #29
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Re: How wealthy do you feel?

Quote:
Originally Posted by HaHa
If they feel wealthy, why do they hang around here discussing how to squeeze the last bit of juice out of a dollar?


Maybe to stay wealthy?
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Re: How wealthy do you feel?
Old 05-16-2007, 06:48 PM   #30
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Re: How wealthy do you feel?

I could never feel wealthy as long as I have to still work no matter my current networth. As long as I cannot replace my income, still rely on an employer's health insurance, I don't see how I can feel wealthy.
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Re: How wealthy do you feel?
Old 05-16-2007, 07:04 PM   #31
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Re: How wealthy do you feel?

I think we can all agree that "Feeling economically Wealthy" is a relative feeling.

In an absolute sense - if you are a millionaire you are one of about 9 million in the world.
http://en.wikipedia.org/wiki/Million...s_in_the_world
What is that as a percentage of the world population 6.7 billion = .134%

Still we don't feel fully secure - I include myself in that number.

The median income of USA households is $46K
http://en.wikipedia.org/wiki/Persona..._United_States
If you take into account the imputed income (health benefits etc) and all other income of many on this board I think it would greatly exceed this number.

So what is the point to be learned?
In my opinion it is that our fears and other emotions steal our happiness. We live in a hell of our own making.

Go to India and see the poverty their. Imagine if you could talk with a begger there and in some way make him understand that you do not feel wealthy (I doubt it would be possible). I was in India and at one point I could not leave my hotel and walk the streets due to the poverty I saw.

If you don't believe your thoughts influence your perceptions and actions then there is no issue with not feeling wealthy. I believe they do and try to think positively about my situation.

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Re: How wealthy do you feel?
Old 05-16-2007, 07:09 PM   #32
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Re: How wealthy do you feel?

Quote:
Originally Posted by HaHa
I am surprised that so many say they feel wealthy. If they feel wealthy, why do they hang around here discussing how to squeeze the last bit of juice out of a dollar?
Ha
“I would remind you that extremism in the defense of a good deal is no vice! And let me remind you also that moderation in the pursuit of "squeezing" is no virtue.”
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Re: How wealthy do you feel?
Old 05-16-2007, 07:18 PM   #33
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Re: How wealthy do you feel?

Quote:
Originally Posted by HaHa
I am surprised that so many say they feel wealthy. If they feel wealthy, why do they hang around here discussing how to squeeze the last bit of juice out of a dollar?

If I didn't feel financial insecurities I would A) not care too much about maximizing my return B) Certainly not care about how to learn what I could give up without suffering too much and C) Spend more on social life and diversions.

Ha
IMHO, alot of the people that 'hang around here' aren't trying to squeeze juice out of a dollar , they are here to help others. You can't see that?
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Re: How wealthy do you feel?
Old 05-16-2007, 07:36 PM   #34
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Re: How wealthy do you feel?

I gather from the postings here that those of us who "feel" wealthy have different emotional ties to the words "wealth" and "rich"...wealth is something to strive for - more of a comfort level...rich, well...just simply $$$$ - and tons of it - not an exclusive goal for me personally - hmmm - maybe that laziness from another posting kicking in. (however, because this requires me to meet and marry some oil prince/king, etc - or even scarier...a Donald type - ewwww!! Not enough $$$$ in the world for THAT!)
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Re: How wealthy do you feel?
Old 05-16-2007, 08:03 PM   #35
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Re: How wealthy do you feel?

Greetings, my two cents worth below,


I tend not to view wealth by my overall net worth. I changed that viewpoint several years ago. I adjusted my view of wealth to whether I require to work to sustain a set lifestyle that I have become accustomed to and which I am comfortable with.

It took a while to find my comfort level once all the material needs were fulfilled. The remainder becomes savings and investments. Once these investments and my pension meet the lifestyle requirements with a suitable buffer I believe that goal (wealth accumulation) will be met.

Overall, I feel fortunate not to be burdened with the same financial problems that haunt the consumer societies of North America.

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Re: How wealthy do you feel?
Old 05-16-2007, 08:24 PM   #36
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Re: How wealthy do you feel?



A rich man is one who is satisfied with what he has.

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Re: How wealthy do you feel?
Old 05-16-2007, 08:30 PM   #37
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Re: How wealthy do you feel?

Quote:
Originally Posted by Alex
IMHO, alot of the people that 'hang around here' aren't trying to squeeze juice out of a dollar , they are here to help others. You can't see that?
And we tend to prefer the the socialization the forum allows to discuss concerns and issues related to finance without the sales tactics of a VA SALES SHARK in HEAT!!! There is a greater braintrust here on personal finance logistics than all of the so called professionals I have met with!
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Re: How wealthy do you feel?
Old 05-16-2007, 08:33 PM   #38
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Re: How wealthy do you feel?

Quote:
Originally Posted by HaHa
I am surprised that so many say they feel wealthy. If they feel wealthy, why do they hang around here discussing how to squeeze the last bit of juice out of a dollar?
I see this forum as more about people who value and/or aspire to financial independence. Some are focusing on squeezing the last bit out of a dollar to further that goal. But many are here to enjoy the community of like-minded folks. Valuing financial independence and not having to earn a living seems to be a bit of a minority viewpoint in the US, so engaging with other folks who value them is refreshing.

Audrey
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Re: How wealthy do you feel?
Old 05-16-2007, 08:34 PM   #39
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Re: How wealthy do you feel?

Quote:
Originally Posted by ADJ
I could never feel wealthy as long as I have to still work no matter my current networth. As long as I cannot replace my income, still rely on an employer's health insurance, I don't see how I can feel wealthy.
Ditto. The day I ER, it will be with a big smile and I will feel wealthy. Since we are well along that path, I will call us comfortable, yes, but not yet wealthy.
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Re: How wealthy do you feel?
Old 05-16-2007, 08:36 PM   #40
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Re: How wealthy do you feel?

Interesting feedback! Obviously I don't fit the convential wisdom definition of wealth, and I probably never will. I started this thread to try and define the feeling I had standing in the specialty store and saying, "hey, this new wine from Peru should go well with the organic chutney I just found." and thinking, just like Brewer said, how I can make purchases like this without a moment's thought. I would submit that being middle class in America, with the endless array of choices and easy access, is better than being wealthy in a lot of countries (So you are a wealthy Sudanese - where are you going to buy organic chutney, or a wine from Peru, or a Nintendo Wii?).
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