Do people really not know how well off they have it?

[Trevelyan]

Inspired by this thread.

I was recently talking to my girlfriend, who lives on a waterfront beach house. I say house but I really mean mansion. They have an elevator in their house, and, get this, a panic room hidden in their bathroom. Her dad has a Jag, and just bought another car. Her mom has a Cadillac, and she drives a Volvo.

Christmas at her house is incredible, she got a digital camera ($400) and a video camera ($600) plus a slew of other miscellaneous crap, same with her brother. Her dad and mom are doctors who own several practices. Their combined income is over a million/year, after taxes.

Anyways, I talked to her one day and told her she was rich and she was like "Noooo I'm not rich." So I asked her how well off she thought she was and she replied "I dunno, middle class."

Then I told her she was in the top 1% of the US in terms of income, and probably in the top .1% worldwide, ie rich. She denied it and thought I was making it up until I showed her figures that said:

Income >$200k/year - Top 4%
Income > $1mil/year - Top 1%

Now I'm not saying that having money is inherently bad, but how can people just be so ignorant to how good they have it? Her family is stinkin rich and they still have debt. Jeez man, I know it will take just a second for someone to call me a hypocrit, but man people are starving in the world and we are over here sitting pretty driving multiple cars and wasting everything and to put a cherry on top we complain about it.

America is not the only guilty party, but man sometimes it is just ridiculous what goes on all around.

 

[FrustratedUser]

Sorry but she sounds pretty ignorant. I'd LOVE to make $1M/year, hell $300k/year will do just fine.

 

[Nessal]

I have a friend that is like that too. She is CRAZY RICH. She lives in a house on top of a hill in San Francisco. She drives her nice BMW and her parents owns a bunch of other nice car. I tell her that she is pretty well off but she denies it till the day she dies. Even people that barely know her told her that she is pretty well off but she is always embarassed and keeps denying it. Why would you be embarassed about it? It is not like I would treat you any different, you are still my friend.

 

[jagec]

I agree.

 

[Anubis]

in my expirence MOST people that are at that level are oblivious to how well they actually have it

the REALLy rich kids, you know the sterotypicial trust fund kids know they are rich and such but the ones that are less rich then the really rich seem to think they dont have it easy

 

[FoBoT]

that is NOT middle class. maybe not super rich , but definetly upper class

 

[RaDragon]

Some people don't like to acknowledge that they're loaded -- even if it's very very obvious.

 

[dethman]

i want to go out with a 1mil/yr chick. everyone i've gone out with is poor. sucks.

 

[PingSpike]

Originally posted by: Anubis
in my expirence MOST people that are at that level are oblivious to how well they actually have it

the REALLy rich kids, you know the sterotypicial trust fund kids know they are rich and such but the ones that are less rich then the really rich seem to think they dont have it easy

Well...they probably hang out with upper class people, so if they're lower upper class they think of themselves at the bottom. And its not like pop culture is going to set them straight, because America is obsessed with being filthy rich.

Of course, they're horribly wrong and should give me a BMW immediately. Then I can sell it. Because I can't afford the insurance on that fvcking thing!

 

[Anubis]

Originally posted by: PingSpike

Originally posted by: Anubis
in my expirence MOST people that are at that level are oblivious to how well they actually have it

the REALLy rich kids, you know the sterotypicial trust fund kids know they are rich and such but the ones that are less rich then the really rich seem to think they dont have it easy

Well...they probably hang out with upper class people, so if they're lower upper class they think of themselves at the bottom. And its not like pop culture is going to set them straight, because America is obsessed with being filthy rich.

Of course, they're horribly wrong and should give me a BMW immediately. Then I can sell it. Because I can't afford the insurance on that fvcking thing!

the thing is upper midle class is such a broad range that it fvcks that up, we are upper middle class but make no where near 1 mill a year

 

[KK]

Originally posted by: dethman
i want to go out with a 1mil/yr chick. everyone i've gone out with is poor. sucks.

Quit hanging out at McDonalds, maybe you'll move up a notch and get a chick with a full set of teeth.

 

[AgaBoogaBoo]

maybe they don't want to say it?

they just want to "fit in" and not stand out with something like money, modest imo

 

[PingSpike]

Originally posted by: Anubis

Originally posted by: PingSpike

Originally posted by: Anubis
in my expirence MOST people that are at that level are oblivious to how well they actually have it

the REALLy rich kids, you know the sterotypicial trust fund kids know they are rich and such but the ones that are less rich then the really rich seem to think they dont have it easy

Well...they probably hang out with upper class people, so if they're lower upper class they think of themselves at the bottom. And its not like pop culture is going to set them straight, because America is obsessed with being filthy rich.

Of course, they're horribly wrong and should give me a BMW immediately. Then I can sell it. Because I can't afford the insurance on that fvcking thing!

the thing is upper midle class is such a broad range that it fvcks that up, we are upper middle class but make no where near 1 mill a year

Sure thing richie rich.

 

[FlyLice]

Originally posted by: Trevelyan

Her family is stinkin rich and they still have debt. Jeez man, I know it will take just a second for someone to call me a hypocrit, but man people are starving in the world and we are over here sitting pretty driving multiple cars and wasting everything and to put a cherry on top we complain about it.

America is not the only guilty party, but man sometimes it is just ridiculous what goes on all around.

You people are so dumb. TIME VALUE OF MONEY. DEBT IS NOT BAD. OVER-LEVERAGING IS NOT GOOD. Why spend CASH when the bank will GIVE YOU MONEY!??!?! ARGH so stupid i don't even feel like explaining this sh!t to stupid people..........

Simple example: Man makes $1million a year. He wants to buy a $3million house. WHY WAIT HOWEVERR MANY YEARS TO SAVE UP FOR IT WHEN THE BANK SAYS HERE'S $3MILLION JUST PAY ME 5.5% INTEREST RATE AND KEEP YOUR CASH WHERE YOU CAN EARN 10% PLUS IN THE EQUITIES MARKET OR DOING BUSINESS.

 

[n0cmonkey]

Most people think they're middle class. Hell, she isn't rich, her parents are.

 

[aplefka]

I dunno but it pisses me off. My dad's a lawyer and my mom's a teacher and we're always in such a financial fix. I keep getting into arguments about it because they're not doing jack sh1t in the way of trying to manage the money better and it's starting to screw me over too. I'm just glad my older sister is at college because it'd be a damn soap opera if she was home.

Paying for her college is some of what adds to it but there is just so much sh1t I don't even know where to begin.

The worst part is that I know in two or three years, when I'm gone, my little sister will have it so easy and be spoiled because by then they'll think "Hey, might as well start learning how to not suck at life."

 

[Trevelyan]

Originally posted by: AgaBoogaBoo
maybe they don't want to say it?

they just want to "fit in" and not stand out with something like money, modest imo

Still a cop out... if you really want to be modest then maybe not buying $50 shirts and $60 jeans and going on $7000 shopping sprees (she has done this) is a good start. Still obviously benefitting from being wealthy and then not admitting that you are wealthy so you can "fit in" is not a good character trait.

It's particularly lame when people are like "Hey lets go spend $60 and do this it sounds like fun! I know I don't have to work for the money and can spend it without even thinking about it, but no I don't have enough money to pay for you... you are just so cheap!"

Seriously, anyone who doesn't have a job and spends any money at all has no right ever to call anyone else cheap.

 

[Trevelyan]

Originally posted by: FlyLice

Originally posted by: Trevelyan

Her family is stinkin rich and they still have debt. Jeez man, I know it will take just a second for someone to call me a hypocrit, but man people are starving in the world and we are over here sitting pretty driving multiple cars and wasting everything and to put a cherry on top we complain about it.

America is not the only guilty party, but man sometimes it is just ridiculous what goes on all around.

You people are so dumb. TIME VALUE OF MONEY. DEBT IS NOT BAD. OVER-LEVERAGING IS NOT GOOD. Why spend CASH when the bank will GIVE YOU MONEY!??!?! ARGH so stupid i don't even feel like explaining this sh!t to stupid people..........

Simple example: Man makes $1million a year. He wants to buy a $3million house. WHY WAIT HOWEVERR MANY YEARS TO SAVE UP FOR IT WHEN THE BANK SAYS HERE'S $3MILLION JUST PAY ME 5.5% INTEREST RATE AND KEEP YOUR CASH WHERE YOU CAN EARN 10% PLUS IN THE EQUITIES MARKET OR DOING BUSINESS.

I don't know their particular financial situation, but I don't consider a house mortgage debt. I would say they don't need five cars for three drivers, and they certainly don't need credit card debt. Cars, clothes, pianos, etc. unlike houses are NOT INVESTMENTS so going into debt for them is not a money-making strategy. (Unless you need a car for work or something, but even then you don't need a Jag or Mercedes when a Toyota will do.)

 

[cavemanmoron]

Originally posted by: FrustratedUser
Sorry but she sounds pretty ignorant. I'd LOVE to make $1M/year, hell $300k/year will do just fine.

heck I made like $35,000 last year,Before taxes,and I think I have it ok,
not super easy,but ok;I can pay my Mortgage,and other normal bills.

I would love to win the $1,000 a week for life,NY State lottery game;
I could afford to buy a nicer house,
and take a real vacation.

 

[V00DOO]

You could never be too rich. Have a friend who has 3 houses 2 apartments in Southern Cal and he always sounds like he is on foodstamps. Beside the whinning he always picks up the beer tap :beer:.

 

[Xionide]

Sounds like you got a winner.

 

[FlyLice]

Originally posted by: Trevelyan

Originally posted by: FlyLice

Originally posted by: Trevelyan

Her family is stinkin rich and they still have debt. Jeez man, I know it will take just a second for someone to call me a hypocrit, but man people are starving in the world and we are over here sitting pretty driving multiple cars and wasting everything and to put a cherry on top we complain about it.

America is not the only guilty party, but man sometimes it is just ridiculous what goes on all around.

You people are so dumb. TIME VALUE OF MONEY. DEBT IS NOT BAD. OVER-LEVERAGING IS NOT GOOD. Why spend CASH when the bank will GIVE YOU MONEY!??!?! ARGH so stupid i don't even feel like explaining this sh!t to stupid people..........

Simple example: Man makes $1million a year. He wants to buy a $3million house. WHY WAIT HOWEVERR MANY YEARS TO SAVE UP FOR IT WHEN THE BANK SAYS HERE'S $3MILLION JUST PAY ME 5.5% INTEREST RATE AND KEEP YOUR CASH WHERE YOU CAN EARN 10% PLUS IN THE EQUITIES MARKET OR DOING BUSINESS.

I don't know their particular financial situation, but I don't consider a house mortgage debt. I would say they don't need five cars for three drivers, and they certainly don't need credit card debt. Cars, clothes, pianos, etc. unlike houses are NOT INVESTMENTS so going into debt for them is not a money-making strategy. (Unless you need a car for work or something, but even then you don't need a Jag or Mercedes when a Toyota will do.)

How do you expect to have zero debt? Rich people get kick-ass interest rates and perks from using their charge cards.

 

[Tiamat]

In addition, my coop job pays 19$ per hour. That makes me make more than around 20% of the population in the US even considering if I only work half of the year!!!. Unfortunately, when I pay the tuition bill, those earnings become nullified

 

[Transition]

Originally posted by: FlyLice

Originally posted by: Trevelyan

Her family is stinkin rich and they still have debt. Jeez man, I know it will take just a second for someone to call me a hypocrit, but man people are starving in the world and we are over here sitting pretty driving multiple cars and wasting everything and to put a cherry on top we complain about it.

America is not the only guilty party, but man sometimes it is just ridiculous what goes on all around.

You people are so dumb. TIME VALUE OF MONEY. DEBT IS NOT BAD. OVER-LEVERAGING IS NOT GOOD. Why spend CASH when the bank will GIVE YOU MONEY!??!?! ARGH so stupid i don't even feel like explaining this sh!t to stupid people..........

Simple example: Man makes $1million a year. He wants to buy a $3million house. WHY WAIT HOWEVERR MANY YEARS TO SAVE UP FOR IT WHEN THE BANK SAYS HERE'S $3MILLION JUST PAY ME 5.5% INTEREST RATE AND KEEP YOUR CASH WHERE YOU CAN EARN 10% PLUS IN THE EQUITIES MARKET OR DOING BUSINESS.

Cash is king. A 3 million dollar house is a 3 million dollar liability. More assets, less liabilities. Live by it.

 

[novasatori]

I used to be pretty well off(read: parents). Got everything I wanted. Of course I didn't flaunt it or anything, actually people I went to school with didn't really know, but people who would come to my house, and knew my parents/family would always comment on it. I would just say "nah, we're not". Seriously, I always hated people who bragged or whatever, so I never wanted to do that. Maybe that's why people deny it?

Now I'm poor.