Comfortable or Wealthy?

[bencasey]

Chris Rock's definition:

Shaquille O'Neal is rich. The guy who pays him is wealthy.

 

[Milton]

Who are Chris Rock or Shaquille (is that a real name?) O’Neal, and what is their relevance to this thread?

 

[Dtail]

Who are Chris Rock or Shaquille (is that a real name?) O’Neal, and what is their relevance to this thread?

Forgetting the relevance angle, but don't know Chris Rock (comedian/actor) or Shaquille (Shaq) (Basketball player and on many commercials)?

 

[FIREd]

To me "comfortable" has become code name for "rich" - for people who do not assume that label. "OMG, you guys are rich! No, no just comfortable"...

In the end, who cares what label people put on our financial situation? What's more important is why they do it... as they would not bother if it did not serve them in some way.

 

[aja8888]

There is no joy in buying things you can afford.

That was why my ex wife was so joyful all the time!

 

[bencasey]

Who are Chris Rock or Shaquille (is that a real name?) O’Neal, and what is their relevance to this thread?

A) Its called humor and B) What planet do you live on?

 

[bencasey]

Its not how much you make (or how much you have), its how much you spend. If you make 100K a year and spend that much or more, you're not doing so hot. If you make 80K and spend 40K, then you're doing great. I never changed my lifestyle according to my yearly income so if I made 90K one year and 60K the next, it didn't affect me, only how much I could sock away. That's why I laugh at all of the online retirement indicators because none of them take into account the concept that you might only live on half your earnings and not all of them. Not having a pension and coming from poor parents, I saved at least a third of what I made every year once I started making decent money.

 

[Hermit]

Seems like only a few years ago scrounging for change around the house to get $4.72 for gas in Wednesday and hoping it would last till Friday

Also a "few" years ago I remember filling up my Ford Econoline van (23 gallons) for about $5.

 

[almost there]

Nailed it.
No defined benefit pension here........(Thats cheating)
Live on the same amount.
Pay off the house early.
Max out the 401k, max out 2 roth IRA'S.
Bank any cash thats left.
Buy a rental or 2.
Only difference now, I feel guilty not saving huge amounts.
And more or less flat lining......... Odd getting used to.

Its not how much you make (or how much you have), its how much you spend. If you make 100K a year and spend that much or more, you're not doing so hot. If you make 80K and spend 40K, then you're doing great. I never changed my lifestyle according to my yearly income so if I made 90K one year and 60K the next, it didn't affect me, only how much I could sock away. That's why I laugh at all of the online retirement indicators because none of them take into account the concept that you might only live on half your earnings and not all of them. Not having a pension and coming from poor parents, I saved at least a third of what I made every year once I started making decent money.

 

[JoeWras]

In other words, the places where there's nothing to do and no one wants to live.

Ouch.

There's plenty to do. Farm or ranch the food that feeds us. Build the stuff at a low wage that the rich/wealthy city people want.

I'm getting a bit worried about this rural/city growing divide. I'm a city boy through and through. I love the city. And I respect my rural neighbors who live differently and provide a lot of the resources we depend on, at a pretty affordable price.

I wouldn't blame them if they just turn off the plows and combines some day and see what happens.

 

[NW-Bound]

Also a "few" years ago I remember filling up my Ford Econoline van (23 gallons) for about $5.

But, but, but didn't you work a whole day to get $20 then?

 

[almost there]

The last time that gasoline averaged 20 cents a gallon was in 1942...........
Min. wage was about .30 cents an hour. lol lol

 

[NC 57]

Am I comfortable or wealthy?
1) Do my spouse and children love me. Are they healthy and happy? - YES
2) Do I have good friends I can rely on? - YES
3) Is my house paid for? - YES
4) Do I wake up each morning glad to be alive and looking forward to the day? YES
5) Am I healthy and able to do the things I want to do? - YES
6) Am I working my bucket list at a rate that satisfies me? - YES
7) Do I owe anyone or any organization money? - NO. Debt free.
8) Do I have the freedom (time & money) to achieve the goals I have in retirement? YES
9) Is my lifestyle fully supported by the income from investments and SS? YES and I continue to save the surplus.
10) Do I give to charitable organizations improving society and helping other people? YES
11) Do I want or need more? No.

Seems like I'm both comfortable and wealthy.

 

[Milton]

Forgetting the relevance angle, but don't know Chris Rock (comedian/actor) or Shaquille (Shaq) (Basketball player and on many commercials)?

Thank you!

I am not an American and do not watch television, so those names meant nothing to me.

 

[davebarnes]

Comfortable: can fly business class without sweating it.
Wealthy: NetJets.

 

[Milton]

Pretty feisty for a newbie

What planet do you live on?

Wow.

First you gratuitously insult the interior of your country (“nothing to do and no one wants to live there”); and now (on only your fifth post!) you’re implying that the whole [-]world[/-] universe revolves around ‘Murica.

You might consider taking a page from your countryman Warren Buffet and undergoing some training. But then, he lives in Omaha (whose population is well under 1 million) so presumably doesn’t know much.

 

[W2R]

“Annual income twenty pounds, annual expenditure nineteen six, result happiness. Annual income twenty pounds, annual expenditure twenty pound ought and six, result misery.”

― Charles Dickens, David Copperfield

 

[Sunset]

I feel comfortable, because I can afford $10K on a cruise once or twice a year.
However I felt suddenly NOT wealthy when we parked beside this yacht.

Built for Larry Ellison. Rising Sun was originally built for Larry Ellison, CEO of Oracle Corporation, and is currently owned by David Geffen.

Even second hand it looks nice (about 300 Million).

 

[Dtail]

Thank you!

I am not an American and do not watch television, so those names meant nothing to me.

Ah okay then.

 

[street]

Have you checked out the bogleheads net worth spread sheet?

No >>> what ranges low end to high are they in?

 

[gstillson]

Go to Wal-mart the day before thanksgiving and look at the poor cashiers as they deal with grouchy customers and huge lines while making barely above poverty.

Now consider that you are retired (on $1.2m or whatever) and don't have to work like that.

Comfortable or Wealthy....seriously?

 

[almost there]

Agree, I for one am just happy to be off the hamster wheel. No need to compare myself with anyone else. Its like some being bored in retirement? To me, everyday is Saturday........

 

[dunkelblau]

No >>> what ranges low end to high are they in?

Here's something with bars --
https://dqydj.com/net-worth-brackets-wealth-brackets-one-percent/
I believe the numbers rise as a power-law at the high tail, very roughly 0.1% >50M, 0.01%>250M, and 0.001%>1.25B.

 

[FI_RElater]

The last time that gasoline averaged 20 cents a gallon was in 1942...........
Min. wage was about .30 cents an hour. lol lol

You don’t remember the “price wars” on gas in Texas back in the 60’s.... the gas was about 19-20 cents a gallon in the best case.... otherwise it was hovering around 24-27 cents a gallon.

 

[Independent]

You don’t remember the “price wars” on gas in Texas back in the 60’s.... the gas was about 19-20 cents a gallon in the best case.... otherwise it was hovering around 24-27 cents a gallon.

I can remember paying just over 30 cents in the 60's, but we got wine glasses as a bonus (probably had to save stamps or coupons). I still have them.

Bonus 2: Watching Mad Men, there was a scene in Megan's apartment in LA. "My" wine glasses were sitting on her table.