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-   -   Indicators of Wealth? (http://www.early-retirement.org/forums/f27/indicators-of-wealth-82835.html)

clobber 07-26-2016 09:48 AM

Indicators of Wealth?
 
I know there are all kinds of definitions for being wealthy. Things like being in the top 1% (or .01%), or having a certain net worth, or income level. Personally, I like the link to having "no financial constraints on activities." So, what are some specific activities that might indicate a person is wealthy? Some of mine include:

1) Purchase international business class tickets (even if you hunt for the cheaper ones) without hesitation.
2) Never even consider going to Denny's, Sizzler, etc.
3) Never consider staying at Motel 6 or Super 8.
4) Spending $100-$200 on a whim. Want that new Amazon Echo? Just buy it and if it doesn't work out...who cares. It was only $200.

What are some of your indicators?

Nemo2 07-26-2016 10:09 AM

When I visit the 11 month old twin granddaughters and they scoot across the floor towards me when they hear my voice.....

SumDay 07-26-2016 10:10 AM

I like all of yours. We've never done #1, but may if we take a painfully long flight.

Here are ours - funny, we just discussed this last weekend:

1) Own or timeshare our own airplane so we could just hop on and go - no TSA, shoe removal, customs, no screaming babies (unless they're related to us), no waiting in line to pee, no 2 hour pre-arrival at airport. You get the drift.
2) A full time cook
3) A place at the lake, and being able to afford someone to do the work on it so all we would do is show up & play.

Big_Hitter 07-26-2016 10:16 AM

A true baller has six figures in his checking account

Options 07-26-2016 10:25 AM

None of the above. It is a mistake to equate "wealth" with spending. In fact, spending has nothing to do with wealth. Spending only has to do with....spending.

Wealth has been defined as "income from other sources".

HFWR 07-26-2016 10:27 AM

If your boat has a helicopter pad...

NW-Bound 07-26-2016 10:29 AM

Quote:

Originally Posted by clobber (Post 1760864)
1) Purchase international business class tickets (even if you hunt for the cheaper ones) without hesitation.
2) Never even consider going to Denny's, Sizzler, etc.
3) Never consider staying at Motel 6 or Super 8.
4) Spending $100-$200 on a whim. Want that new Amazon Echo? Just buy it and if it doesn't work out...who cares. It was only $200.

That 1st one right there excludes me from the club. :)

Don't know about #2, even though we have not eaten there in years. Their food never got me sick or anything.

braumeister 07-26-2016 10:33 AM

If your boat has more than one helicopter pad.





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GravitySucks 07-26-2016 10:34 AM

When I go to the local burger joint I order the Cowboy Burger, but pay them a quarter to replace the Jack cheese with sharp Cheddar.

HadEnuff 07-26-2016 10:39 AM

Quote:

Originally Posted by GravitySucks (Post 1760911)
When I go to the local burger joint I order the Cowboy Burger, but pay them a quarter to replace the Jack cheese with sharp Cheddar.

whoah there, big fella. You'll never achieve FIRE spending your dough like that!

Unless you have a Groupon for 40% off or something.

Bestwifeever 07-26-2016 10:46 AM

Some of those folks dining at Denny's have a lot more $$ than I ever will.

Texas Proud 07-26-2016 10:48 AM

Quote:

Originally Posted by HFWR (Post 1760903)
If your boat has a helicopter pad...

Quote:

Originally Posted by braumeister (Post 1760907)
If your boat has more than one helicopter pad.


If you ship has a boat (which means submarine)....

aja8888 07-26-2016 10:55 AM

Quote:

Originally Posted by clobber (Post 1760864)
I know there are all kinds of definitions for being wealthy. Things like being in the top 1% (or .01%), or having a certain net worth, or income level. Personally, I like the link to having "no financial constraints on activities." So, what are some specific activities that might indicate a person is wealthy? Some of mine include:

1) Purchase international business class tickets (even if you hunt for the cheaper ones) without hesitation.
2) Never even consider going to Denny's, Sizzler, etc.
3) Never consider staying at Motel 6 or Super 8.
4) Spending $100-$200 on a whim. Want that new Amazon Echo? Just buy it and if it doesn't work out...who cares. It was only $200.

What are some of your indicators?

Wait a minute, what's wrong with Denny's? With the AARP card you can get 15% off?

And what feever said above is true. I know a guy that owns six Burger Kings in the area and he is often seen in the local Denny's and TexMex places in town.

BTW, most flyers in First or Business Class these days are using upgrades from their FF account or are on business and the Company or client is paying for the seat.

W2R 07-26-2016 10:57 AM

Quote:

Originally Posted by clobber (Post 1760864)
I know there are all kinds of definitions for being wealthy. Things like being in the top 1% (or .01%), or having a certain net worth, or income level. Personally, I like the link to having "no financial constraints on activities." So, what are some specific activities that might indicate a person is wealthy? Some of mine include:

1) Purchase international business class tickets (even if you hunt for the cheaper ones) without hesitation.
2) Never even consider going to Denny's, Sizzler, etc.
3) Never consider staying at Motel 6 or Super 8.
4) Spending $100-$200 on a whim. Want that new Amazon Echo? Just buy it and if it doesn't work out...who cares. It was only $200.

What are some of your indicators?

Well gosh, I'm not rich. I wouldn't think twice at staying at a motel 6 or Super 8, and having dinner at Denny's or Sizzler that night, the next time we go through a hurricane evacuation.

I think being rich is:

(1) Not feeling the need to constantly compare one's lifestyle and spending choices with the lifestyles and spending choices of friends and acquaintances

(2) Awakening to find one is sincerely, thoroughly happy each morning and staying that way pretty much all day long

(3) Not having to worry about the future, where the next meal is coming from or where to sleep each night

(4) Thinking of things and experiences that would brighten one's life in the future, and being able to afford those things and experiences.

(5) Feeling that one has ENOUGH. Eradicating that crazy-making hoarding/consumerist drive for once and for all.

RobbieB 07-26-2016 10:59 AM

For me;

No more coach fares
I fear no restaurant
Give me a room with a view and a jacuzzi
No more cheap booze

starry night 07-26-2016 11:08 AM

How about "has plenty to GIVE"?
 
No one has mentioned the freedom to GIVE plenty to causes other than your own!

CaliKid 07-26-2016 11:15 AM

For me, it's currently:

- Paying the extra $100 a night to be guaranteed an ocean view at check in and not have to hope for a free upgrade.
- Usually paying for economy plus and once in a long while first class on planes.
- Tipping $20 to a lot of service people that come to the house.

For me, in the future:

- Private chef.
- Plane share (recent Forbes article had a service that sounded great but can't remember the name of it).
- Estate planning for future generations (not just kids).

Sunset 07-26-2016 11:17 AM

Sometimes I don't spend much, but I'm still wealthy, to me spending on lots of things often means someone is accumulating things, searching for happiness via retail therapy, or has a spending problem and will be poor soon.

I'll eat at Denny's if I want, and I'll stay at motel 6 or 8 if convenient and reviews are good which is my criteria for all hotels.

One big indicator is not worrying about the next meal or where to sleep, and if I want something it becomes a detailed matter of which one is good and not "what can I afford".
Example: last year my old car died, so I bought a new one with cash. This year DW has finally agreed to replace her 18 yr old car (101,000 miles) with a new one, and it will be cash after she decides which one.

Koogie 07-26-2016 11:19 AM

Quote:

Originally Posted by RobbieB (Post 1760929)
No more cheap booze

We have a winner... ;D

Big_Hitter 07-26-2016 11:21 AM

Quote:

Originally Posted by starry night (Post 1760933)
No one has mentioned the freedom to GIVE plenty to causes other than your own!

not equating that to wealth for some reason...


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