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Old 04-27-2013, 11:00 PM   #41
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....My conclusion from a lot of these discussions with people at all stations of life is that it doesn't matter how much you have. Unless you are one of the top 5 on Forbes richest list, there is going to be someone else who has more of something that you would like to have. If you're the jealous type, you're always going to be able to find someone to envy.....
Great post. While I consider myself to be more fortunate than many others, at the same time there are many other people who are much richer than I am. It is all relative.

We were on vacation a week ago and were taking a cruise around Charleston Harbor and admired some of the very nice harbor mansions. My wife mentioned something about those homes and I pointed out to her that the couple that trailers their boat to our lake and cruises by our lakefront home probably thinks the same thing - it's all relative.
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Old 04-28-2013, 11:01 AM   #42
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We were on vacation a week ago and were taking a cruise around Charleston Harbor and admired some of the very nice harbor mansions. My wife mentioned something about those homes and I pointed out to her that the couple that trailers their boat to our lake and cruises by our lakefront home probably thinks the same thing - it's all relative.
Right on.

Also, those same beautiful houses also require big bucks to maintain, furnish and insure. Plus the taxes are proportionately large, and the owners will likely need at least small household staffs to handle to cleaning and gardening.

There is nothing wrong with paying all of those ongoing expenses if one wishes and has large discretionary income. But at the end of the day one can only sleep in one bedroom etc., so to me it like an unnecessary financial and psychological burden.
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Old 04-30-2013, 06:59 PM   #43
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Thanks for expressing what Iíve sometimes felt since discovering this site a few weeks ago. I have found it very difficult not to engage in comparisons, whether with the fancy cars that pass me on the highway, the net worth statistics in the Survey of Consumer Finances, or with other individuals on sites like this one. When I find myself succumbing to comparisons, I try to challenge myself to press harder with my own financial goals. Itís difficult however, with not wanting to change some of the choices Iíve made, like paying for an expensive apartment so I can walk to work instead of take the bus. And having gotten married 1 Ĺ years ago, itís no longer just me thatís making the decisions. What I like about this forum is the support that I see for the other posters and the different things that I have learned just by hanging around.
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Old 04-30-2013, 07:35 PM   #44
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Great post. While I consider myself to be more fortunate than many others, at the same time there are many other people who are much richer than I am. It is all relative.

We were on vacation a week ago and were taking a cruise around Charleston Harbor and admired some of the very nice harbor mansions. My wife mentioned something about those homes and I pointed out to her that the couple that trailers their boat to our lake and cruises by our lakefront home probably thinks the same thing - it's all relative.
Trust me, those house along the Battery require way more upkeep than the average millionaire can afford! But they are pretty!
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Old 05-04-2013, 04:15 PM   #45
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A friend of my in architecture says that no matter how big someone's house is, they generally only live in 2500 square ft of it.

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Right on.

Also, those same beautiful houses also require big bucks to maintain, furnish and insure. Plus the taxes are proportionately large, and the owners will likely need at least small household staffs to handle to cleaning and gardening.

There is nothing wrong with paying all of those ongoing expenses if one wishes and has large discretionary income. But at the end of the day one can only sleep in one bedroom etc., so to me it like an unnecessary financial and psychological burden.
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Old 05-05-2013, 11:28 AM   #46
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A friend of my in architecture says that no matter how big someone's house is, they generally only live in 2500 square ft of it.
I guess if you include the garage and patio, I might have 2500sf...
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Old 05-05-2013, 11:50 AM   #47
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Thanks for expressing what Iíve sometimes felt since discovering this site a few weeks ago. I have found it very difficult not to engage in comparisons, whether with the fancy cars that pass me on the highway, the net worth statistics in the Survey of Consumer Finances, or with other individuals on sites like this one. When I find myself succumbing to comparisons, I try to challenge myself to press harder with my own financial goals. Itís difficult however, with not wanting to change some of the choices Iíve made, like paying for an expensive apartment so I can walk to work instead of take the bus. And having gotten married 1 Ĺ years ago, itís no longer just me thatís making the decisions. What I like about this forum is the support that I see for the other posters and the different things that I have learned just by hanging around.
What you need to worry about are not the people who are richer than you, but those who are poorer. In today's world, they have claims against your wealth.

And the more conservative other posters are, the better for you. Their wealth can withstand some shocks. People who are redefining downward what is needed to be secure in retirement may well wind up on your payroll, if through no other reason than health care subsidies that require someone to pay for them.

Ha
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Old 05-07-2013, 10:43 PM   #48
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I definitely feel jealous from the big savers on this and other sites. However, I don't feel its a bad thing as it usually gets me more into shape to sacrifice and save.
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Old 05-08-2013, 12:22 AM   #49
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There is always someone who is doing better, who is bigger than you. I use it as motivation.
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Old 05-08-2013, 06:39 PM   #50
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Of course the extremely wealthy can usually nullify that claim and stack the deck further in their favor by buying up a few folks in Washington to do their bidding.

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What you need to worry about are not the people who are richer than you, but those who are poorer. In today's world, they have claims against your wealth.
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Old 05-08-2013, 07:30 PM   #51
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Of course the extremely wealthy can usually nullify that claim and stack the deck further in their favor by buying up a few folks in Washington to do their bidding.
Yea, but that would never happen.
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Old 05-08-2013, 10:37 PM   #52
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Of course the extremely wealthy can usually nullify that claim and stack the deck further in their favor by buying up a few folks in Washington to do their bidding.
Don't think so. A huge percentage of all US Federal Income tax is paid by the very wealthy. Around 50 % of households pay zippo, and another big slug pay de minimus tax.

It is currently very fashionable to blame everything on the rich, but IMO we should be thankful that they don't just skip politics and go directly to buying the army, as they do in much of the world.

Ha
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Old 05-09-2013, 04:09 AM   #53
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+1 and I'd be more than willing to kick in for our own army Ha, heh!
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Old 05-09-2013, 07:06 AM   #54
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You're ignoring FICA, which makes up almost as much of Federal revenue as the income tax, and is hugely regressive.

I don't "blame everything on the rich", but I'm amazed at the whining that they do, considering they are getting more and more for doing less and less every year. Considering they seem to make an ever-increasing share of the income, it isn't surprising that they pay most of the income tax. The question is "why do they make so much more than they have historically, compared to the rest of us?". Much of the reason is that they are getting better and better at stacking the deck in the favor of capital over labor.

As a percentage of revenue, corporate profits are at record highs, while wages are at record lows. The actual Federal tax rates that corporations pay have fallen to multi-decade lows as well.

Labor unions have been steadily weakened by legislation all over the country, capital is taxed at more favorable rates, and the bankruptcy laws have been re-written to protect the interests of the wealthy. These are just a few of the many changes that the uber-wealthy have had written into our laws to stack the deck.


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Don't think so. A huge percentage of all US Federal Income tax is paid by the very wealthy. Around 50 % of households pay zippo, and another big slug pay de minimus tax.

It is currently very fashionable to blame everything on the rich, but IMO we should be thankful that they don't just skip politics and go directly to buying the army, as they do in much of the world.

Ha
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Old 05-09-2013, 07:45 AM   #55
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"I'm amazed at the whining that they do, considering they are getting more and more for doing less and less every year"

Really? The highly motivated small and large business owners are working less and less? I laughed so hard at this comment I almost fell on the floor!
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Old 05-09-2013, 07:51 AM   #56
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This thread was about inspiration. When did it turn into a whine-fest? Between the two, inspiration is definitely more enjoyable...
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Old 05-09-2013, 08:37 AM   #57
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I would suggest that the world is changing (as it always does) and that recently the nature of the changes benefit capital providers rather than labor providers. I don't think that capital providers are consciously "stacking the deck" against labor but rather, that technological changes have reduced the need for labor and growth in supply has exceeded demand which has kept prices for labor from escalating.

The labor reforms that Hamlet mentions are a response to greed by labor unions and capital gains have been tax at preferential rates for decades, so that is hardly a new thing.

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You're ignoring FICA, which makes up almost as much of Federal revenue as the income tax, and is hugely regressive.

I don't "blame everything on the rich", but I'm amazed at the whining that they do, considering they are getting more and more for doing less and less every year. Considering they seem to make an ever-increasing share of the income, it isn't surprising that they pay most of the income tax. The question is "why do they make so much more than they have historically, compared to the rest of us?". Much of the reason is that they are getting better and better at stacking the deck in the favor of capital over labor.

As a percentage of revenue, corporate profits are at record highs, while wages are at record lows. The actual Federal tax rates that corporations pay have fallen to multi-decade lows as well.

Labor unions have been steadily weakened by legislation all over the country, capital is taxed at more favorable rates, and the bankruptcy laws have been re-written to protect the interests of the wealthy. These are just a few of the many changes that the uber-wealthy have had written into our laws to stack the deck.
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Old 05-09-2013, 08:57 AM   #58
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This thread was about inspiration. When did it turn into a whine-fest? Between the two, inspiration is definitely more enjoyable...
Though sometimes I'm inspired to whine...
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Old 05-09-2013, 09:22 AM   #59
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I am in awe of the personal accomplishments, both big and small, shared on this forum. And it's a little difficult not to be jealous of the uber-successful persons in their 30s and 40s who are able to ER, but I do not want to discourage anyone form posting their success stories. I find these personal stories very enlightening and sometimes motivating. Have I mentioned this forum is awesome!
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Old 05-09-2013, 09:32 AM   #60
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Though sometimes I'm inspired to whine...


I am also inspired by the rare folk who don't whine constantly!
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