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Old 01-20-2010, 08:17 AM   #21
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Retired couple in rural Alabama with nice govt pension and home they own outright, no debt, and with 250k to invest = possibly affluent.

Retired couple in New York with no pension, a mortgage, car payments and cc debt with 250k to invest = possibly not.
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Old 01-20-2010, 08:22 AM   #22
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I belong to a survey panel called "Affluent Dynamics". Periodically they send me short surveys to fill out and give me 3000 United Airline miles as a reward.

Their criterion for acceptance to the panel was a liquid net worth (not including home equity) of $1 MM.
How do they define liquid? Do you need to keep it in a savings account?
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Yet Another definition of Affluent
Old 01-20-2010, 08:28 AM   #23
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Yet Another definition of Affluent

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Old 01-20-2010, 12:52 PM   #24
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Hmmm...I dunno....maybe her own money and rechargeable batteries...
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Old 01-20-2010, 12:56 PM   #25
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To me, affluent is someone who can spend money (big and small, but not as big as a house) frivelously without giong into debt, and who actually accumulates high quality material possessions. So by my definition, someone with tons of money (in the millions) who lives on the cheap, is not affluent.

Either way, 250K won't cut it.
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Old 01-20-2010, 01:16 PM   #26
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To me, affluent is someone who can spend money (big and small, but not as big as a house) frivelously without giong into debt, and who actually accumulates high quality material possessions. So by my definition, someone with tons of money (in the millions) who lives on the cheap, is not affluent.

Either way, 250K won't cut it.
Hey, even those of us who have a less-than-lavish lifestyle spend frivilously! It's the *amount* that one spends frivously on a low budget is obviously less. I bought a Timex watch in December for $30 and that could be considered frivolous, since my cell phone will tell me what time it is. I bought a Wii game recently, and so on. I buy whatever I want but I am happy with what I have, for the most part.

Still, I agree with what you are saying, but would change it to say,
Quote:
someone with tons of money (in the millions) who lives on the cheap despite wanting to spend more, is not affluent.
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Old 01-20-2010, 02:28 PM   #27
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In this case "affluent" is just a handy title for a market segment that someone at Merrill concocted. A firm with a higher target market than Merrill would probably use a different number. For most of us, there's so much psychological baggage with such a word that it will generate endless debate.

If you're looking for numbers, the Fed does a triennial survey on household finances. According to the 2007 survey, the median finacial assets (excluding home equity but including retirement accounts) for:

all families was: $29,000
families with "head" aged 65-74: $68,000
families at the 82nd percentile: $215,000

Financial Assets, Median Value of Holdings

From a Merrill marketer's perspective, $250,000 narrows the market meaningfully without shrinking it excessively.
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Old 01-20-2010, 03:15 PM   #28
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How do they define liquid? Do you need to keep it in a savings account?
It is all tradeable assets, in other words does not include home equity, rental properties, etc. Stocks, bonds, mutual funds, CD's all count.

In other words stuff a Full Service broker could salivate over, trying to convince you to eschew low cost Vanguard funds so that he could generate huge commisions trading your portfolio!
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Old 01-20-2010, 08:27 PM   #29
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Fuego feeling affluent and BIL feeling bad cause he didn't save for retirement



What a great photo! Where did you get it? link?
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Old 01-20-2010, 08:37 PM   #30
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What a great photo! Where did you get it? link?
Right click and <Properties>
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Old 01-20-2010, 08:41 PM   #31
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I'm wondering what the guy on the left needs a watch for...
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Old 01-20-2010, 08:49 PM   #32
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I recall this picture from an exhibit at the Wadsworth Atheneum in Hartford (the oldest public art museum in the country), about two years ago. They had a whole series of pictures of equally unusual people from the same small town out West (at least I think it was out West; I could easily be wrong about that)
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Old 01-20-2010, 09:05 PM   #33
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I thought the photo was from a Supercuts ad.
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Old 01-20-2010, 09:08 PM   #34
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I thought the photo was from a Supercuts ad.

Bring your own bowl?
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Old 01-20-2010, 09:10 PM   #35
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Hey you two, I get my haircuts at Supercuts! I regard it as a grab bag. You never know quite what you will get until you get home.

Not sure if a "senior cut" at Supercuts for $11.95 is better, or if cutting my own hair is better. Now that I am not working I might try the latter again, like I used to do years ago. It's hard to do, but possible.
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Old 01-20-2010, 09:17 PM   #36
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Hmmm...I dunno....maybe her own money and rechargeable batteries...
Those rechargeable batteries are not reliable . I'd go with EverReady !
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Old 01-20-2010, 10:08 PM   #37
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Those rechargeable batteries are not reliable . I'd go with EverReady !
Ahhhh ha! Woo Hoo!

Note to self….
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Old 01-20-2010, 10:24 PM   #38
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I recall this picture from an exhibit at the Wadsworth Atheneum in Hartford (the oldest public art museum in the country), about two years ago. They had a whole series of pictures of equally unusual people from the same small town out West (at least I think it was out West; I could easily be wrong about that)
Probably WEST Virginia Apologies to West Virginians
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Old 01-20-2010, 11:17 PM   #39
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Hey you two, I get my haircuts at Supercuts! I regard it as a grab bag. You never know quite what you will get until you get home.

Not sure if a "senior cut" at Supercuts for $11.95 is better, or if cutting my own hair is better. Now that I am not working I might try the latter again, like I used to do years ago. It's hard to do, but possible.

Have tried some cheap haircut places in recent months. They seem to have different people there every time I go in, and W2R may be right about not knowing what you will get until you get home.

Anybody ever tried Flowbee factory direct Also Flowbee deluxe with vacuum? Guess I wouldn't expect much "style" from it.
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Old 01-20-2010, 11:51 PM   #40
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Interesting! I just use scissors, a hand mirror, and clips to separate my hair into sections...
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