Don't you hate not being rich...

[chiwawa626]

Today i went to a graduation party for the son of one of ciscos vice presidents. They just got a new house in Fremont, CA (around where mc hammer's house was with the 18 car garage...) This house was amazing...the master bedrooms closet was as big as our appartment!... But yeah i felt so poor going there, or going to any of our friends houses. We live in an apartment, my parents have been workin hard since they came to america, but just not lucky enough. I guess you can say my dad came a long way from being a farmers son to a hotel manager..but yeah....anyways i hope when i grow up i can live a great life with a nice cash flow, and hope i can buy a nice house for my parents too. I just notice that kids who have grown up rich all their life just dont know how good they have it, i hope when i grow up i have it as good as they do

 

[brtspears2]

....and I live on, on a damn money crunch, like most people

 

[compuwiz1]

Actually, no I don't hate NOT being rich. What I hate most, is having been rich, the problems created by it, and utimately having to repay a bunch of $$$, while I am poor.

 

[amnesiac]

Well my family is very well off, not quite "rich" as compared to the near-royalty living in the area, but my parents have been able to provide for my living and schooling in private institutions all this time. I don't take it for granted though. I realize money doesn't grow on trees; I've worked my share of minimum wage jobs and attained promotions from hard work. Add to that the fact that when my dad passes away pretty much everything our family has will be gone due to estate taxes (he has no life insurance). I might have to start from scratch, myself.

I'm kind of looking forward to a fresh start, actually. The burdens associated with wealth are unimaginable. Not only with taxes, asset allocation, etc.. but everyone who finds out you have money wants a piece regardless of whether they're entitled to it or not. That means unwarranted lawsuits left and right from people to whom you don't owe a dime.

 

[compuwiz1]

Why, with some wealth, would your father not have had a professional involved in his financial planning? Not prying, but that is what my father and my son both do for a living. I have seen both sides of the coin (both with insurance, and without). I do not understand the concept of one not insuring the future of their estates. We will all die someday. It's not a question of if, but more a question of when. Anyone who has assets or good income, who does not insure such an interest, has probably not been shown why they should do so.

 

[chiwawa626]

compuwiz1, if you dont mind me asking, what is your story. Ive heard about your financial problems in the "changing identitiy" thread, but could i know a little more?

 

[gogeeta13]

iirc, business troubles, 2 dogs got hit by cars, $3000 medical bills, etc etc

 

[amnesiac]

Originally posted by: compuwiz1
Why, with some wealth, would your father not have had a professional involved in his financial planning? Not prying, but that is what my father and my son both do for a living. I have seen both sides of the coin (both with insurance, and without). I do not understand the concept of one not insuring the future of their estates. We will all die someday. It's not a question of if, but more a question of when. Anyone who has assets or good income, who does not insure such an interest, has probably not been shown why they should do so.

My dad ironically enough is in the estate planning / life/health/disability insurance business.
The problem is that he's diabetic, in poor health and otherwise uninsurable, AND he's manic-depressive. During his last manic episode several years ago he cashed in his policy and squandered the money. Oops.

 

[Sluggo]

I really think you would be shocked at how many of rich people would like to be regular middle class people with "normal" dependable family.

You can dream about being rich all you want, the truth is, being rich has its own set of headaches just as being poor or middle class.

Can you imagine the commitments that go with a million dollar home?

Electricity bills of 2-3 thousand a month
Propery Taxes that would make Bill Gates cringe
Gardening upkeep
Pool upkeep
even regular household upkeep on a huge house would be an expensive proposition.

 

[Dragnov]

I hate it when the government and society considers you rich.

A family making $100,000 w/ two parents working full times and 2 children in college = $0 in financial aid, no loans, no grants, nothing

A family making $50,000 w/ one parent working full time (other choosing not to) and 1 child in college = couple thousand in grants, loans, etc.

Wish FAFSA actually considered the number of dependents instead of just saying they do.
Dad went to near 8 years of college, works 8+ hours a day, travels 1 hour to get to work. Mom travels 1 hour to work, works 8+ hours a day. Wish they would give my parents a break, I feel sorry/guilty for them. Sheesh. I work part-time to rely on them as little as possible, but give me a freakin subsized loan at least! It's not like I can say "Hey dad, can you put in another $5000 in my bank account please". :disgust:

 

[compuwiz1]

chiwawa626, I lost my business and alot of money, legal issues, the dogs getting hit, and all that. I became extremely depressed and the hospitalization and recoup time took me a long time to find a job. I got so far behind, before I finally got employed / employable, that it made a huge financial mess. That's pretty much it, in the nutshell.

I will say this...as I have always made my life insurance payments, on policies that I have owned for over 20 years. I have a family and I love them. The policy is not because I'm gonna die someday, but because someone after me, is gonna live. I want them to be able to survive, in case I were to check out early. The hint to these kinds of policies, is not to give people big lumps of cash, where they can do destructive and bad things, but to have enough, and structured properly, to provide them with an income.

During his last manic episode several years ago he cashed in his policy and squandered the money. Oops

That is one of the things I despise most about my disease, is the manic episodes, where I lose all controll of impulse and do things that have huge and lasting effects on everyone around me. The irony to it all is, historically, I have always been best at producing an income, when I am on one of those peaks. :Q

 

[Kerouactivist]

compuwiz1 not to pry, but

What sort of depression are you diagnosed with?

 

[compuwiz1]

What sort of depression are you diagnosed with?

Manic , aka bipolar 1.

 

[amnesiac]

Originally posted by: compuwiz1

What sort of depression are you diagnosed with?

Manic , aka bipolar 1.

Just wondering, are you on any medication such as Lithium or Depakote?
It seems that I attract persons afflicted with this disorder enough that I wouldn't doubt that I have it too. My dad and brother are both bipolar, every g/f I've had has been bipolar, and so are a few of my friends. I noticed that i have mild episodes of hyperactivity which would be considered very, very, mild mania but not enough to cause concern. I just don't want to inflict upon those in my life what my father has inflicted upon me.

 

[compuwiz1]

Depakote, was my last drug.
I take nothing right now, as I seem to want to sleep for 13 hrs when I am on the slightly low side. I work when I feel low, even if extended hours. That seems to help bring me back up, although the down cycle can last a few weeks at times. I feel the best for me is to stay active, no matter how hard it might be at the time. I am not doing what the doctor wants, but my way makes me feel better and is more productive.
I'm also ADHD, but the combination of ritalin and other depression drugs, had bad effects. I try and manage the ADHD on my own, by making a more conscious effort to contain myself, concentrate, and when I have trouble sitting down or focusing, I practice some relaxation and breathing stuff.

 

[Whisper]

A family making $50,000 w/ one parent working full time (other choosing not to) and 1 child in college = couple thousand in grants, loans, etc

Wish this was the case for me. After taxes, my mother makes a little bit more than 50k/year or so (largely because she works 60-70 hour weeks). When I applied for financial aid my freshman year of college, with my brother already in a university, I didn't even qualify for a pell grant. The only federal "aid" that I received was a federal stafford loan. The rest of my $32k first year (minus $4k for the Georgia Hope scholarhip, and $1,000 in financial aid/scholarships) was taken care of via a Federal PLUS parent loan. Yes, I am now quite in debt, heh.

 

[joohang]

Well I didn't even have a graduation party and didn't go to the grad cruise to save money.

At least you went to a party.

 

[Bluga]

yes, i will be rich one day.

 

[compuwiz1]

Bluga, do you have some good friends? If so, you're already rich. The rest is just stupid money.

 

[tcsenter]

But yeah i felt so poor going there, or going to any of our friends houses.

How old are you? When I was 15, I used to feel my relative poverty when I would visit a friend whose father was an executive at General Motors. I thought it was kick-ass when I could go swimming in his indoor swimming pool during the dead of winter, and getting to ride one of his snowmobiles, but there were times when I couldn't help be a bit envious and resentful at the same time. I may have even resented my parents a bit, as though I was somehow entitled to have all that stuff, and they failed to provide it to me.

But you're supposed to grow out of that wholly childish mentality at some point. I walk into a million dollar home today without feeling as though their wealth somehow 'reflects' upon my lack of it.

We live in an apartment, my parents have been workin hard since they came to america, but just not lucky enough. I guess you can say my dad came a long way from being a farmers son to a hotel manager...

What's luck have to do with it? Did your dad lose out on the Cisco VP position to this other guy? Is your dad even shooting for the same income range as a Cisco VP?

 

[BD2003]

I've been relatively poor up until a few years ago when I started to go to college and started making some cash. My parents simply couldnt afford to give me half the stuff middle class kids had. Now I've pretty much got it all, alll earned by myself. But I'm not on a crusade to be rich.

Nobody NEEDS to be rich. What does over $30k a year get you? A fancier car, a bigger house, and more stuff you dont need. And as much as I am the king of gadgets and fast computers/big TVs, I know its just stuff. Personally, I place more of a value on my free time. I refuse to work more than 8 hours a day, and I refuse to take my work home with me, just for a few extra dollars.

Its JUST money. The unhappiest people I know are the ones that all they are about is getting rich.

 

[jmagg]

We all need money to survive and live comfortably but.....

Money and possessions dont bring happiness for long.
The best things in life are free.

For those who dont understand, someday you will.

 

[Quixfire]

Well I am a self-made millionaire just like my grandfather was. I don't regret anything I have done, as I see it the Good Lord has blessed my family and me will more that necessary to survive. I have taken care of my parents, church, and family when needed. I never have hated anyone for owning more than me, but have met quite a few people who feel that I am bad or unchristian for having so much. I still work, even though I don't need to, in order to keep myself busy. Plus I am not ready to retire, but soon I will.

 

[MomAndSkoorbaby]

I just really want to be comfortable..you know, a house, a car and a family.

 

[Michael1897]

I don't hate not being rich. I hate the fact that my dad busts his balls 50-60 hrs a wk in a foundry to put me through college and pay the house. I hate seeing the rich kids blow money on worthless sh!te or excessive amts. or clothes, while driving a 35,000 suv and not caring a damn about money. *sigh* one day I'll be rich *sigh*