Are you keeping a low profile in these difficult economic times?

[Sarah in SC]

Our only concession to living big is our recent St. Patty's day party, which was certainly over the top, cost wise, in our crowd. But I just explained it away as that we decided to invest in the party instead of my Roth IRA this year.

While not true, it did smooth over things just a bit with our friends whose parties don't compare to ours. And it wasn't quite as much as a Roth contribution, but darned close!

I figure we were, for once, doing our part to keep the economy going--buying booze, paying the band, everyone buying tacky green outfits, etc.

With two friends out of work this year, we try not to point out that we have money to save and invest. Well, technically only one of them is still out of work, and he's living with us, so I think he knows we have money to spare since we aren't charging him rent!

 

[enfp]

Well, we're not rich by any definition. Frugal, yes. Rich, no. I do feel bad for my friends who are dealing with layoffs. Several of my closest friends' husbands have lost their jobs. And here's my dh not working for pay by choice. I will say he is working hard on home renovations, child rearing, and flying to Mich. to help his parents.

OT, Last week i told someone at church DH was plastering the utility room. They thought I said he was plastered in the utility room. lol

I am very guilty, however, of being critical of how others spend their money or rather seem to make money decisions I consider unwise or unnecessary all the while complaining they have no money or no job or behind on mortgage payments or what have you. I know no one is going to choose to live on as little as we do, except for Uncle Mick probably. I should not judge others by what we do. I have started mentioning that when people bring up what we are doing. I state that we are radical about it, and no one would be choosing to do it like we are.

I have offered to help people with ideas and budgeting, though most people don't want advice. But if someone wants my help, I'm happy to discuss our choices. And that is what it really comes down to: choices we've made that have given us our freedom. As someone mentioned, that freedom is worth more than anything I could buy.

 

[haha]

It's nice to learn that we're rich, although I did notice yesterday that my underwear does have holes in it, and two pairs of jeans are wearing through, as are my sneakers, so I guess I'll have to go shopping soon. Maybe next year even.

Be careful with those worn jeans. Yesterday I was walking along and some old cutie comes up to me and says, "Honey, always wear that green hat. You look soo good". The worst of it is I found myself thinking, she doesn't look too bad, maybe she has a place to bathe?

Today I threw out my jeans with holes and put on a new pair.

Ha

 

[audreyh1]

Less than before in some ways. Now if the conversation turns to a beating in the stock market, I freely admit that we have been hit hard as well. Whereas before, I would not comment on market rallies, etc., or anything that implied we had appreciating assets.

Audrey

 

[kumquat]

Be careful with those worn jeans. Yesterday I was walking along and some old cutie comes up to me and says, "Honey, always wear that green hat. You look soo good".

Maybe she had something else in mind.

 

[FUEGO]

Today I threw out my jeans with holes and put on a new pair.

So jeans with holes in them aren't in style anymore? It seems to change every five years or so. And aren't you located in the part of the country from which the ripped jeans look originated (a la Kurt Cobain)?

 

[haha]

Maybe she had something else in mind.

LOL! Too late for that concern!

Ha

 

[freebird5825]

My low profile is soon coming to an end...the snow has almost melted away...the April showers are on their way...the salt will be washed off the roads...and I will be at the wheel of my Mustang convertible.
Will wearing old clothes help?

 

[FIREd]

Facing your indignation, I must apologize to y'all. Goodness gracious, I don't know what came over me to call y'all the "R" word. Where are my manners? I know, you guys are nor "rich", y'all are just average joes... who happen to have more money than 90% of people living in the richest country on Earth, bless your heart... Oops I did it again!

In all seriousness though, "rich" always has a bit of a pejorative connotation, but in bad times, it can become down right insulting for some people. I think that people's reaction to my question really says it all. In times such as these, nobody wants to be called "rich", we all want to downplay our wealth (made easier with the falling stock market) and keep a low profile...

By the way, I am not "rich" either, no Ma'am...

 

[freebird5825]

...I know, you guys are nor "rich", y'all are just average joes... who happen to have more money than 90% of people living in the richest country on Earth, bless your heart... Oops I did it again!

but...but...you SAID I was.
<razzafrazza grumble whine grouse grind teeth>

 

[enfp]

Firedreamer,

I was the last person who said I wasn't rich. I guess that last one threw you over the edge, huh? But the truth is, we're not. We live on 18k/yr. for a family of 4. I wasn't joking about being like unclemick. Nor did I find the word rich an insult, I just know it doesn't apply to my family. We don't follow the SWR theory. We're living on everything we have to enjoy our family now. We do hope to see some rebound in the next couple of years, or I will be going back to work.

We have MUCH less saved than many of you have lost so far. And we are waiting for housing to rebound to sell our roughly $150k home so we can buy land and build a sustainable house with our own hands. We never plan to live on more than 20k until DH's pension kicks in 18 years from now. And that is only a vested (25%)pension, not a full one. But we value our freedom and time with our children, so we FIRE'ed instead of working to become millionaires.

I do feel rich compared to my friends with no jobs or my family behind on their mortgage. And I do feel rich next to people from third world countries. But what we have is nothing compared to what most of you have. (Or what many working people have who don't think they could retire.) Except that freedom thing ( and no debt). And it's enough.

 

[haha]

You Want Rich? I Give You Rich!

Nation & World | Countess divorcing former CEO says $43M just isn't enough | Seattle Times Newspaper

I think $43 million would work ok for me, but then I've never been a beautiful former investment banker, or a countess.

ha

 

[RonBoyd]

I've never been a beautiful former investment banker, or a countess.

You should try it, you don't know what you're missing.

 

[freebird5825]

Nation & World | Countess divorcing former CEO says $43M just isn't enough | Seattle Times Newspaper

I think $43 million would work ok for me, but then I've never been a beautiful former investment banker, or a countess.

ha

I dreamed I was a countess once...had a diamond tiara and everything. Does that count?
I will give this lady my famous big BOOOHOOOOOOOOO followed up by a snickering "see what happens when you marry for money?"

 

[ikubak]

I always kept a pretty low profile even during the good times. I have noticed however that there are lots of good buys out there, from cars with 0% interest to houses and hdtvs. I did splurge and get a mag daddy hdtv for about half what it would have cost me 6 months ago. It's my little effort to help spur the economy. I also happen to like watching sports on TV.

I don't talk too much about the stock market these days but I am still putting my retirement savings into my mutual funds and maintaining my allocation strategy. Most people don't want to hear that stuff right now.

 

[aaronc879]

So jeans with holes in them aren't in style anymore? It seems to change every five years or so. And aren't you located in the part of the country from which the ripped jeans look originated (a la Kurt Cobain)?

The jeans I wear to work have had holes in them for months now. A couple more holes and I can probably sell them to a teenage girl for $50. Well, the girl would have to have a 36" inseam.

 

[haha]

So jeans with holes in them aren't in style anymore? It seems to change every five years or so. And aren't you located in the part of the country from which the ripped jeans look originated (a la Kurt Cobain)?

A young woman with holes in her jeans is hot. A young man with holes in his jeans is hip. An old man with holes in his jeans is a street person.

Not fair, but true nevertheless.

Ha

 

[FIREd]

Firedreamer,

I was the last person who said I wasn't rich. I guess that last one threw you over the edge, huh?

You didn't throw me over the edge... My remarks were very much tongue in cheek...

 

[Nords]

Because we mostly live below our means though, most of us have probably learned to fly successfully under the radar. But, with the current economic and political climate, are you taking any extra steps to keep a low profile?
We have been the recipients of a few disagreeable comments lately, that's why I'm asking.

The opposite seems to be the case with us. We fly so low, especially in our worn beach-bum attire, that several neighbors have expressed concern for our well-being during these troubled times. I hardly even discuss ER with my shipmates anymore, especially the few still on active duty, because by their comments they seem to think that we're barely hanging on.

It's not just that private sector employees *wanted* to keep their salary secret, though I'm sure some did. Most private sector employers generally forbid employees from discussing salary, with disciplinary action up to and including termination for those who don't comply.

I've always been a bit bemused about that. In the military, if you want to know how much someone is making then you go to the DoD website and look it up. Same for retirees. But then there's no salary negotiations either.

Our kid's had a part-time job at her Kumon center since she was 14 years old. She started at the state's minimum wage but ramped up pretty quickly to $10/hour at the ripe ol' age of 16. I commented on it one day and she quickly shushed me, then warned that such topics were taboo around the workplace. She's been taking Kumon math classes for nearly 10 years, and we've spent nearly $10K on tuition. Ironically she's brought home almost $10K in pay & bonuses during the 2+ years she's worked there, so at this point she's well ahead of the game with great work experience and a great employment reference as well.

My low profile is soon coming to an end...the snow has almost melted away...the April showers are on their way...the salt will be washed off the roads...and I will be at the wheel of my Mustang convertible.
Will wearing old clothes help?

Tell the onlookers that your service manager always has you take them out for a test drive after you finish changing the oil. Or that you're just driving it to your detailing tent while the owner's on vacation...

 

[steve88]

Nords or anyone,
How can I get my son who is 14 year old get started in working. He wants to work but we don't knlow how to go about it. Should he get a permit first?
Thanks

 

[freebird5825]

Nords or anyone,
How can I get my son who is 14 year old get started in working. He wants to work but we don't knlow how to go about it. Should he get a permit first?
Thanks

Yes, he will definitely need a work permit. Some states require going to the Dept of Labor for an application, others have the forms at school in the Guidance Office.

 

[Nords]

Nords or anyone,
How can I get my son who is 14 year old get started in working. He wants to work but we don't knlow how to go about it. Should he get a permit first?
Thanks

Our kid started doing Kumon math worksheets when she was six years old, and when she was 13 the owner suggested that she think about working part-time. So our kid was counting down the minutes until she could turn 14 and get her work permit. I wish I'd had that happen when I was her age, but back then there just weren't any openings for after-school detention supervisors.

Before she started working ($6.75/hour and rapidly upward from there) we paid her $5/hour for tasks like washing cars, cleaning windows & screens, painting, yardwork-- basic sweat-equity work that motivated her to learn how to do those tasks while helping her get to a gimme goal. Such family wages, within reason, can also be declared as income and put in a Roth IRA.

States vary, but Hawaii's work-permit age is 14. Not all states may have that requirement, especially if it's something education-related like after-school tutoring.

 

[kumquat]

This is a serious question, not sarcasm.

Do you actually need a permit of some kind to hold a part-time job in the US (other than citizenship, green-card etc)? If so, how do the 'powers that be' decide if you qualify? What does it cover: mowing lawns, babysitting?

Here in the frozen north, there are some restrictions on who businesses can hire on a regular basis but casual work for 'the guy next door' is fine. School attendance is mandatory until grade 8 or age 16, but weekends are yours.

 

[steve88]

Our kid started doing Kumon math worksheets when she was six years old, and when she was 13 the owner suggested that she think about working part-time. So our kid was counting down the minutes until she could turn 14 and get her work permit. I wish I'd had that happen when I was her age, but back then there just weren't any openings for after-school detention supervisors.

Before she started working ($6.75/hour and rapidly upward from there) we paid her $5/hour for tasks like washing cars, cleaning windows & screens, painting, yardwork-- basic sweat-equity work that motivated her to learn how to do those tasks while helping her get to a gimme goal. Such family wages, within reason, can also be declared as income and put in a Roth IRA.

States vary, but Hawaii's work-permit age is 14. Not all states may have that requirement, especially if it's something education-related like after-school tutoring.

amazing kids! thanks

 

[BunsGettingFirm]

You should try it, you don't know what you're missing.

Apparently he's missing world travel, $1000/week skin care, and $43 million dollars. I'm coming back next lifetime as a hot chick with X-ray money detectors for eyes.