How wealthy do you feel?

[Zipper]

Quote:

Originally Posted by Martha 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.

I agree wholeheartedly.

It was rather disconcerting to see the boots put to him by xxxxxxxxxxxxxx[moderator edit-- enough confrontational talk for one day]

[Dog]

From a financial perspective - I voted no. Some days I feel wealthy and other days I do not. DH and I feel very fortunate and try not to take our good fortune for granted. We have more than we ever dreamed we could have. Yet, I can't spend money without thinking about the tradeoffs. I imagine that wealthy people don't need to worry about such things when they spend money - so, I suppose that is the differentiator for me.
From a lifestyle perspective - we are wealthy. We have our health, family, friends and freedom.

[Dog]

Zipper - was the "rightwing nutjobs" comment necessary? Civilized people can agree to disagree without resorting to name calling.

[ron244]

DW and I are ERing at the end of June. I am 47 DW is 44. I feel wealthy now. When we would decide to buy a new vehicle or other large ticket item we pay for it in cash and not give it a second thought. When we ER, we will be on something of a fixed budget so I don't know how I will feel. This reminds me of a conversation with a friend during the dotcom frenzy which we were both involved. Our accounts would vary in value up to 30% some days, I would get nervous on the down days, of course. He said "if you lost 50% would it affect how you live day to day?". The answer then was no, because DW and I had income and time on our sides. Now, even though our portfolio isn't anywhere near as aggressive, a protracted market downturn would not leave me feeling wealthy.

[haha]

Quote:

Originally Posted by Dog Zipper - was the "rightwing nutjobs" comment necessary? Civilized people can agree to disagree without resorting to name calling.

Zipper's role is to be our current Annoying Canadian. We must at all times have at least one, and he has kindly and expertly filled that role for several years.

Ha

[JustCurious]

Quote:

Originally Posted by kaudrey I feel fortunate and comfortable, but not wealthy. I give myself a false sense of not having a lot of money by saving 30% of my paycheck before I even see it (goes to 401(K), savings account and brokerage account automatically). Even that gives me a cushion for some play money, but in months where I travel or splurge on things, my checking account can get pretty low! With 14 years to ER (I'm shooting for 52), I think I'll feel wealthy when I pull the plug, but I'm not there yet. Karen

Karen, your post describes me to a tee!

[Lancelot]

Quote:

Originally Posted by yakers A rich man is one who is satisfied with what he has.

Exactly! I may not be rich but I feel wealthy because now my time belongs to me!

(And i don't have to sit through any more staff meetings listening to some pompus jerk's ramblings because he knows he has a captive audience : )

Lance

[Khan]

Sort of.

I am living within my ~$30K and still saving.

It would be nice to be fabulously wealthy.

But since I have all I need and most of what I want, I guess I am wealthy.

[Khan]

Quote:

Originally Posted by unclemick2 Amen Depression legacy from my parents - how dare I buy something as fun and frivolous as that - let alone permit myself to enjoy it. Cheap bastardhood is a hard bugger to kill sometimes. heh heh heh :

Why try?

Embrace your inner cheap bastard.

[Khan]

Quote:

Originally Posted by yakers A rich man is one who is satisfied with what he has.

Then I am rich.

[SteveR]

Here is a dictionary.com definition of "wealthy":

having an abundant supply of money or possessions of value; "an affluent banker"; "a speculator flush with cash"; "not merely rich but loaded"; "moneyed aristocrats"; "wealthy corporations" [syn: affluent]

Or perhaps "rich":

1. well-to-do, moneyed. Rich, wealthy, affluent all indicate abundance of possessions. Rich is the general word; it may imply that possessions are newly acquired: an oilman who became rich overnight. Wealthy suggests permanence, stability, and appropriate surroundings: a wealthy banker. Affluent usually suggests a generous amount of income, with a high standard of living and some social prestige and privilege: an affluent family. 5. bountiful, copious, luxuriant. 7. precious, high-priced, dear. 12. intense, vibrant. 14. aromatic. 15. fruitful, productive, prolific, luxuriant. 16. bountiful, copious, abounding, bounteous.



"Wealthy suggests permanence, stability, and appropriate surroundings"

While:
"Rich is the general word; it may imply that possessions are newly acquired"

So...it would appear that new money is Rich while old money is Wealthy.

Most of us would fall into the new money area as our wealth was earned in our lifetime rather than inherited or gotten through some sudden and unexpected means (lottery etc.)

"Affluent usually suggests a generous amount of income, with a high standard of living and some social prestige and privilege"

I would classify myself as moderately affluent rather than rich or wealthy. I guess some would say where I live would suggest a high standard of living...not rich and not wealthy...but well to do and affluent. The rich folks live a couple of miles away in the multimillion dollar mansions. Some are wealthy and some are just rich. Not sure which is which.

[kramer]

I feel very wealthy. I live in the USA and I am middle class, that makes me wealthy. I am also semi-retired so I feel very wealthy. Most of the world can't afford a car, basic health care, or even potable water. The average housing square footage per person in the US has almost tripled in the last 60 years. Now, most poor people in the US have dishwashers, car, A/C, access to inexpensive clothing/shoes, etc., something that was not true as little as 40 years ago.

I was watching the History Channel and they were talking about a Roman Emperor who died a painful death of gout. Man, I wouldn't have wanted to change places with him. I was learning about the Jamestown settlement and the tools they used for dental care -- one was a twisting tool to remove the tooth. But the roots would remain, and they had a tool to scratch and pull out the remaining roots. There was no anathesia. When I was 29, I had a serious infection in my right elbow -- 100 years ago I probably would have lost my arm. I wear contacts (which improve my vision from 20/300 to 20/20), an invention I couldn't have even imagined.

I have the world's information at my fingertips with the internet. My life is much different than it would have been even thirty years ago. I have access to the best health care. I don't even have to go to work everyday anymore. I am about to travel the world and finances are not an issue. I can access over a million songs and play them on a one ounce MP3 player and access them all over the world for about $60 per year subscription. I can fly round trip to another continent for what I used to make in 2 days labor, something most of the world can only dream about, and something that past generations could not have even imagined. I have a US passport (the blue pass) meaning I can travel almost anywhere with few restrictions while most of the world cannot.

I consider myself very, very fortunate and very wealthy and am very thankful for it. And I hope I can help others achieve/approach the same someday, too. I think about this often and I walk with a skip in my step just thinking about how fortunate that I am.

Kramer

[DangerMouse]

Surprisingly for me, I never spend any time thinking about whether or not I am wealthy. I know I do feel fortunate to be in our current circumstances, I know my life has been easier and my opportunites greater than my parents.

[kumquat]

I asked myself 'do you feel wealthy', the answer I got was 'no'. If I ask myself where I stand economically vs. the average person in the world, I have to change the answer. If I ask myself what assets I have vs. the average North American, I have to change the answer.

It boils down to the definition of 'wealthy'. The first 'no' came because I don't have 4 residences, a private jet, maid and driver, etc. etc. The changed answer came because I don't have to work.

[brewer12345]

Quote:

Originally Posted by SteveR Or perhaps "rich": 14. aromatic.

Heh, then I am definately rich.

[Traveler]

Great posts. I especially like the one from Kramer. Being a U.S. citizen, having more than enough good food to eat, clean water to drink, not wanting for anything makes us extremely well off and very, very fortunate.

[Donzo]

I remember a couple years ago while driving home from the airport I was thinking about what I would do w/ my family over the weekend -- I had this realization that I was wealthy. Having alot of money in the bank, no debt and a large income....it was a great feeling.

Since I retired I feel very fortunate....lucky -- not wealthy. I gave up the feeling of wealth for the feeling of freedom, a good trade.
But, if I spent alot of time worrying...that would be a bad trade -- fortunately that has not been the case

[Moemg]

I think someone who was wealthy wouldn't cringe at paying $50,00 for a car or $200.00 at a restaurant .So since that's not me .I don't feel wealthy even though I know I'm FI .

[HFWR]

Quote:

Originally Posted by dex In my opinion it is that our fears and other emotions steal our happiness. We live in a hell of our own making.

<Insert two thumbs up emoticon here>

[Sam]

Quote:

Originally Posted by kramer I feel very wealthy. I live in the USA and I am middle class, that makes me wealthy. I am also semi-retired so I feel very wealthy. Most of the world can't afford a car, basic health care, or even potable water. The average housing square footage per person in the US has almost tripled in the last 60 years. Now, most poor people in the US have dishwashers, car, A/C, access to inexpensive clothing/shoes, etc., something that was not true as little as 40 years ago. I was watching the History Channel and they were talking about a Roman Emperor who died a painful death of gout. Man, I wouldn't have wanted to change places with him. I was learning about the Jamestown settlement and the tools they used for dental care -- one was a twisting tool to remove the tooth. But the roots would remain, and they had a tool to scratch and pull out the remaining roots. There was no anathesia. When I was 29, I had a serious infection in my right elbow -- 100 years ago I probably would have lost my arm. I wear contacts (which improve my vision from 20/300 to 20/20), an invention I couldn't have even imagined. I have the world's information at my fingertips with the internet. My life is much different than it would have been even thirty years ago. I have access to the best health care. I don't even have to go to work everyday anymore. I am about to travel the world and finances are not an issue. I can access over a million songs and play them on a one ounce MP3 player and access them all over the world for about $60 per year subscription. I can fly round trip to another continent for what I used to make in 2 days labor, something most of the world can only dream about, and something that past generations could not have even imagined. I have a US passport (the blue pass) meaning I can travel almost anywhere with few restrictions while most of the world cannot. I consider myself very, very fortunate and very wealthy and am very thankful for it. And I hope I can help others achieve/approach the same someday, too. I think about this often and I walk with a skip in my step just thinking about how fortunate that I am. Kramer

Well said, Kramer. I too, "feel" very wealthy when I take a broader view of the whole world.

One minor disagreement: We have access to the most expensive health care, not to the best.