Do you consider a net worth of 2.5 million "rich?"

[Anonymous]

As raised by another poster: not rich at your age. If you were in yours 80s, I'd say you were rich with that much left. I don't think people who "need" to continue working could be defined as 'rich'. I would say you are upper middle class.

[Anonymous]

Anonymous wrote:

I will share this story so that you can appreciate your wealth even more. Several months ago, I attended my volunteer day at an organization that provides the very poorest children in our surrounding communities with essentials for home and school, socks and underwear, soap and shampoo, hairbrushes and toothbrushes, books and backpacks, uniforms and coats. One little 3d grade girl put on her jumper and twirled around in delight as she told us "my mother will be so happy, she always wanted me to have one of these but we could not buy it." Another 2d or 3d grade child, a severely handicapped-at-birth girl who was partially blind, wore hearing aids, walked with crutches, and could speak very little, broke into applause and an enormous smile when we fitted her with a brand new, white polo shirt. It is very humbling and completely emotional when someone to whom the world has given so little, and who fate has dealt such a very difficult hand, is so appreciative of a little thing like a new shirt.

How about posting on some other thread? The sanctimonious I-give-to-charities'- look at ME thread.

NP her, I think the PP is trying (and I know this may be difficult for us here) to get us to focus on the other, that is, those people who we do not normally encounter or interact with, so that we can appreciate all that we do have. This entire thread has been a comparison to those who have more and most, and our desire for greater accumulated wealth, with absolutely no focus on those who have so much less. I, for one, appreciate a different perspective. Also, if you read carefully, the poster who you criticize did not say that they gave monetarily to charities, they said that they volunteered their time and work, which may suggest that they are of limited means but big hearts. How many of us posting here can say as much? I think that it was a beautiful post.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP here. Our net worth is what it is. I didn't say we had a huge HH income. It's interesting how people's opinions change once the "truth" is out. I never purported to be rich in the first place. This is precisely why I'm uncomfortable with people thinking we're rich.

Well you made it a point to emphasize this part " 2.5 million, excluding our home. "

Because everyone knows that real estate was basically a lottery winning for people who bought before 2005l

OP here- I am excluding our home. The 2.5 million is in various bank accounts. The bulk of the money was accumulated through real estate, but excludes the equity in our current home.

Wow, are you intentionally acting dense? You got rich b/c you played and won the real estate lottery. I'll bet you think you are shrewd real estate investor, noticing gems before others did, not a luck duck who flipped at the right time but really had no idea when the party would end.

Did you at least realize it was a speculative bubble while you were flipping, or was it really just good fortune your last flip had settled before prices stopped escalating? Though here in DC your risk was minimal since prices never really went down, thank you Bush wars and Bernanke.

But for the sake of all that is good, own up that you got rich from gambling, not by being 'frugal' or other nonsense.

Not the OP, but how is that any different from someone who "played and won the NASDAQ lottery"?

[Anonymous]

who cares how you define rich? why do you need to define it OP? you know you have a lot of money.

[Anonymous]

Anonymous wrote:

I will share this story so that you can appreciate your wealth even more. Several months ago, I attended my volunteer day at an organization that provides the very poorest children in our surrounding communities with essentials for home and school, socks and underwear, soap and shampoo, hairbrushes and toothbrushes, books and backpacks, uniforms and coats. One little 3d grade girl put on her jumper and twirled around in delight as she told us "my mother will be so happy, she always wanted me to have one of these but we could not buy it." Another 2d or 3d grade child, a severely handicapped-at-birth girl who was partially blind, wore hearing aids, walked with crutches, and could speak very little, broke into applause and an enormous smile when we fitted her with a brand new, white polo shirt. It is very humbling and completely emotional when someone to whom the world has given so little, and who fate has dealt such a very difficult hand, is so appreciative of a little thing like a new shirt.

How about posting on some other thread? The sanctimonious I-give-to-charities'- look at ME thread.

Yes. Multi-millionaires don't give back, that's only for the rich. Multi-millionaires are middle class, because they shop at target and feel uncomfortable being labeled as such, so they simply decided that they are not. Their other Multi-millionaire friends agree, as they are not rich either. They are also not rich because, while they have lots of money, it isn't money they want to spend right now, so it shouldn't count. Besides, they are basically working Poors compared to the 0.0001%.

[Anonymous]

Oprah is rich, Bill Gates is wealthy. If Bill Gates woke up tomorrow with Oprah's money, he'd jump out a fuckin' window and slit his throat on the way down saying, "I can't even put gas in my plane!"

[Anonymous]

Shaq is rich, the guy who signs his check is wealthy.

[Anonymous]

Anonymous wrote:Oprah is rich, Bill Gates is wealthy. If Bill Gates woke up tomorrow with Oprah's money, he'd jump out a fuckin' window and slit his throat on the way down saying, "I can't even put gas in my plane!"

So how would you label those families who cannot afford even some new shoes, a pair of pants, or basic school supplies for their child? And how do you label someone who has $2.5 MM in wealth?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP here. I promise I'm not trying to be offensive. It's just that around here, and it seems especially on DCUM, there's a tremendous amount of wealth. I'm not saying I'm not, but with 3 small kids, we're planing to keep on working for the next 20 years, at least. We still have expenses to cover that investment income doesn't cover. The point is, it seems like wealth is everywhere here.

It is not rich. Rich would mean that, in addition to being able to stop working and live off of your investments, you could also send those 3 small kids to whatever school you would chose through college (and maybe even grad school). Well, you would spend down most of your money just to put 3 small kids through private school. Assume $30k+ per child for even 10 years. That's almost 1mm right there and you haven't even paid for college yet. Sad as it sounds, you are comfortable, not rich.

OP here again. Your response summarizes my point. Even though we're not planning on private schools for our kids, we definitely watch our spending carefully. On paper, we may seem "rich" to many people, but in reality, we're living a middle class lifestyle. I appreciate everyone's perspectives.

I am wondering what kind of lifestyle we must be living, then, having many times less money?

Working poor? Having no expectation of ever being able to retire, or to contribute meaningfully to the expense of your childrens' college educations?

Huh? I can retire right now (at 40) by merely moving back to my home country (which is thriving). College education there is basically free.

You don't, because _______________?

Because I enjoy my job. I dont understand American obsession with retirement. But kids will most likely go to school in Europe.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Oprah is rich, Bill Gates is wealthy. If Bill Gates woke up tomorrow with Oprah's money, he'd jump out a fuckin' window and slit his throat on the way down saying, "I can't even put gas in my plane!"

So how would you label those families who cannot afford even some new shoes, a pair of pants, or basic school supplies for their child? And how do you label someone who has $2.5 MM in wealth?

Ask Chris Rock, it was a line from one of his old stand-up routines.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

I will share this story so that you can appreciate your wealth even more. Several months ago, I attended my volunteer day at an organization that provides the very poorest children in our surrounding communities with essentials for home and school, socks and underwear, soap and shampoo, hairbrushes and toothbrushes, books and backpacks, uniforms and coats. One little 3d grade girl put on her jumper and twirled around in delight as she told us "my mother will be so happy, she always wanted me to have one of these but we could not buy it." Another 2d or 3d grade child, a severely handicapped-at-birth girl who was partially blind, wore hearing aids, walked with crutches, and could speak very little, broke into applause and an enormous smile when we fitted her with a brand new, white polo shirt. It is very humbling and completely emotional when someone to whom the world has given so little, and who fate has dealt such a very difficult hand, is so appreciative of a little thing like a new shirt.

How about posting on some other thread? The sanctimonious I-give-to-charities'- look at ME thread.

NP her, I think the PP is trying (and I know this may be difficult for us here) to get us to focus on the other, that is, those people who we do not normally encounter or interact with, so that we can appreciate all that we do have. This entire thread has been a comparison to those who have more and most, and our desire for greater accumulated wealth, with absolutely no focus on those who have so much less. I, for one, appreciate a different perspective. Also, if you read carefully, the poster who you criticize did not say that they gave monetarily to charities, they said that they volunteered their time and work, which may suggest that they are of limited means but big hearts. How many of us posting here can say as much? I think that it was a beautiful post.

Of course you do - you wrote it. Obvious sock puppet.

Most of us on DCUM know beyond a shadow of a doubt that we are rich compared to the truly needy. Not the point of the thread, as sanctimonious pp knows perfectly well.

[Anonymous]

Anonymous wrote:Oprah is rich, Bill Gates is wealthy. If Bill Gates woke up tomorrow with Oprah's money, he'd jump out a fuckin' window and slit his throat on the way down saying, "I can't even put gas in my plane!"

Yes, lets make sure we make a distinction between a billionaire and a megabillionaire... But no distinction exists between mere millionaires and the rest of the "middle class".

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

I will share this story so that you can appreciate your wealth even more. Several months ago, I attended my volunteer day at an organization that provides the very poorest children in our surrounding communities with essentials for home and school, socks and underwear, soap and shampoo, hairbrushes and toothbrushes, books and backpacks, uniforms and coats. One little 3d grade girl put on her jumper and twirled around in delight as she told us "my mother will be so happy, she always wanted me to have one of these but we could not buy it." Another 2d or 3d grade child, a severely handicapped-at-birth girl who was partially blind, wore hearing aids, walked with crutches, and could speak very little, broke into applause and an enormous smile when we fitted her with a brand new, white polo shirt. It is very humbling and completely emotional when someone to whom the world has given so little, and who fate has dealt such a very difficult hand, is so appreciative of a little thing like a new shirt.

How about posting on some other thread? The sanctimonious I-give-to-charities'- look at ME thread.

NP her, I think the PP is trying (and I know this may be difficult for us here) to get us to focus on the other, that is, those people who we do not normally encounter or interact with, so that we can appreciate all that we do have. This entire thread has been a comparison to those who have more and most, and our desire for greater accumulated wealth, with absolutely no focus on those who have so much less. I, for one, appreciate a different perspective. Also, if you read carefully, the poster who you criticize did not say that they gave monetarily to charities, they said that they volunteered their time and work, which may suggest that they are of limited means but big hearts. How many of us posting here can say as much? I think that it was a beautiful post.

Of course you do - you wrote it. Obvious sock puppet.

Most of us on DCUM know beyond a shadow of a doubt that we are rich compared to the truly needy. Not the point of the thread, as sanctimonious pp knows perfectly well.

nah PP's not sanctimonious. this whole thread is ridiculous.

[Anonymous]

Anonymous wrote:I cannot bring myself to read these pages and pages of postings on the frivolous question of whether a net worth of $2,500,000 makes you rich.

The answer, OP, to either your humble brag or clueless inquiry is "yes". You are wealthy, wealthier in fact, than most every other person in this country and certainly in this world. If someone were to submit this thread to the Chicago Tribune, the Los Angeles Times, or the Louisville Courier-Journal, the readers of those papers would probably be dismayed to know that the citizens of our capital, on whose shoulders so many important decisions, legislation, and policy-making rests, live in such a bubble of comfort and affluent competitiveness, so out of touch with most people.

I will share this story so that you can appreciate your wealth even more. Several months ago, I attended my volunteer day at an organization that provides the very poorest children in our surrounding communities with essentials for home and school, socks and underwear, soap and shampoo, hairbrushes and toothbrushes, books and backpacks, uniforms and coats. One little 3d grade girl put on her jumper and twirled around in delight as she told us "my mother will be so happy, she always wanted me to have one of these but we could not buy it." Another 2d or 3d grade child, a severely handicapped-at-birth girl who was partially blind, wore hearing aids, walked with crutches, and could speak very little, broke into applause and an enormous smile when we fitted her with a brand new, white polo shirt. It is very humbling and completely emotional when someone to whom the world has given so little, and who fate has dealt such a very difficult hand, is so appreciative of a little thing like a new shirt.

I agree that this thread is very out of touch, no wonder people refer to this area as living in the bubble. I can read the paper headline now: Washingtonians Disappear, Likely Absorbed by Themselves

[Anonymous]

Anonymous wrote:

Anonymous wrote:I cannot bring myself to read these pages and pages of postings on the frivolous question of whether a net worth of $2,500,000 makes you rich.

The answer, OP, to either your humble brag or clueless inquiry is "yes". You are wealthy, wealthier in fact, than most every other person in this country and certainly in this world. If someone were to submit this thread to the Chicago Tribune, the Los Angeles Times, or the Louisville Courier-Journal, the readers of those papers would probably be dismayed to know that the citizens of our capital, on whose shoulders so many important decisions, legislation, and policy-making rests, live in such a bubble of comfort and affluent competitiveness, so out of touch with most people.

I will share this story so that you can appreciate your wealth even more. Several months ago, I attended my volunteer day at an organization that provides the very poorest children in our surrounding communities with essentials for home and school, socks and underwear, soap and shampoo, hairbrushes and toothbrushes, books and backpacks, uniforms and coats. One little 3d grade girl put on her jumper and twirled around in delight as she told us "my mother will be so happy, she always wanted me to have one of these but we could not buy it." Another 2d or 3d grade child, a severely handicapped-at-birth girl who was partially blind, wore hearing aids, walked with crutches, and could speak very little, broke into applause and an enormous smile when we fitted her with a brand new, white polo shirt. It is very humbling and completely emotional when someone to whom the world has given so little, and who fate has dealt such a very difficult hand, is so appreciative of a little thing like a new shirt.

I agree that this thread is very out of touch, no wonder people refer to this area as living in the bubble. I can read the paper headline now: Washingtonians Disappear, Likely Absorbed by Themselves

LOL!!