Who is unapologetically Rich

[Anonymous]

Anonymous wrote:

Anonymous wrote:

You don't need to be truly rich to do those things, but you do need to be comfortable. Truly rich means you can hire a private jet for your vacations and could have multiple houses around the world, etc.

I see. So privileged beyond belief compared to the rest of the world, developed or not is not considered rich on this forum. You need to be Koch Brothers/Bill Gates rich to be truly rich. Or at least movie star rich. Got it.

The criteria that were used to determine "rich" by OP are very middle class concerns. When you do it at the levels of income many are describing you are talking upper-upper-middle class. But the rich don't give a sh*t about 529s, IRAs, and occasional date night splurge meals.

I agree. We have an income that puts us in the top 1% of DC (and, of course, national, which is much lower) but we don't feel "rich." We do fully fund all of the savings things, live in a very expensive home, and drive luxury cars, and we don't worry about money, but if we were "truly rich," we wouldn't need to worry about funding 529s and 401Ks. We'd have trust funds for our kids (and ourselves)! When you need an income to maintain your lifestyle, you can't really be rich, can you? I'd say we're upper middle and very comfortable.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

I agree. We have an income that puts us in the top 1% of DC (and, of course, national, which is much lower) but we don't feel "rich." We do fully fund all of the savings things, live in a very expensive home, and drive luxury cars, and we don't worry about money, but if we were "truly rich," we wouldn't need to worry about funding 529s and 401Ks. We'd have trust funds for our kids (and ourselves)! When you need an income to maintain your lifestyle, you can't really be rich, can you? I'd say we're upper middle and very comfortable.

+1

[Anonymous]

To me, the true definition of rich is simple: that you could never work a(nother) day in your life and live in a world of no financial worries ever.

Anything below that is just levels of comfortable.

[Anonymous]

300k, and even a million don't make you rich. Now when you start talking yeah I'm worth 20 and 30 million, yeah you are rich.

[Anonymous]

I wish I could be unapologetically rich. We have now have a HHI in the seven figures and I can't bring myself to talk about with anyone but my DH. DH encourages me to spend more money on myself but I find it difficult. We have luxury cars and a beautiful, large home. I feel like I should apologize when someone admires them.

[Anonymous]

My HHI is 5 million. I am unabashedly rich.

There. I said it.

I have nice, new cars and an SUV, a pickup truck and an RV.

I also worked hard to get where I am.

[Anonymous]

Anonymous wrote:I wish I could be unapologetically rich. We have now have a HHI in the seven figures and I can't bring myself to talk about with anyone but my DH. DH encourages me to spend more money on myself but I find it difficult. We have luxury cars and a beautiful, large home. I feel like I should apologize when someone admires them.

I like you. You seem like a genuine and grateful person. I'm happy for you and what you have.

[Anonymous]

Our HHI is >$500k. Some of these are true for us, others not. My answers are in bold.

--Drive luxury vehicles (BMW, Acura, Audi, Mercedes, etc.) No (6-year old Honda Odyssey, 2-year old Mini Cooper Clubman)
--Live in a 1 million or more house in a nice neighborhood (NW DC, Bethesda, Chevy Chase, Arlington, McLean, or even Capitol Hill). No (~$550k house in Burke, VA)
--Fully fund retirement Yes
--Fully fund 529s so your kid can go to the best college they can get into, even private school Yes
--Send your kids to private schools like Sidwell, NCS, GDS, etc. No (FCPS)
--Have elaborate vacations that frequently involve international travel, like most spring or Christmas breaks the Caribbean or Hawaii along with more occasional big trips to Europe, Africa, or Asia Yes (e.g., Costa Rica for spring break, Iceland and Norway this summer)
--Afford music lessons, travel sports, tutors, and other enrichment, including expensive camps Yes (parents have expensive hobbies, too)
--Allow your kids to wear designer labels, like a freshman in high school wearing $150 dollar jeans (7s, Diesel, etc.) No (too young to care)
--Buy handbags that are 1000+ on occasion No
--Invest some money in taxable investments after maxing out 401K and IRA Yes
--Have the occasional date night at a high end restaurant where you can blow $250 dollars on food and wine on a nice tasting menu Yes

[Anonymous]

Anonymous wrote:
--Afford music lessons, travel sports, tutors, and other enrichment, including expensive camps Yes (parents have expensive hobbies, too)
-

Please share your hobbies. With nearly an 8 figure HHI, DH is such a tight wad! I keep telling him to enjoy his money. He has a Harley but is too cheap to buy accessories for it.

[Anonymous]

Anonymous wrote:

Anonymous wrote:
--Afford music lessons, travel sports, tutors, and other enrichment, including expensive camps Yes (parents have expensive hobbies, too)
-

Please share your hobbies. With nearly an 8 figure HHI, DH is such a tight wad! I keep telling him to enjoy his money. He has a Harley but is too cheap to buy accessories for it.

I train and compete with my dogs in multiple dog sports (agility, obedience, hunt tests). I spend >$10k per year on equipment, classes and private lessons, travel, and trial expenses. That doesn't count vet bills, food, supplements, or other sundries. I used to do horses, which was even more expensive.

My husband likes to fly fish, which involves equipment and trips to prime locations. He also likes to play poker, but he's pretty good, so he wins more than he loses!