Stuff Rich People Do

[Anonymous]

Anonymous wrote:

Anonymous wrote:I think that nanny gig would be awful. Surrounded by a luxury lifestyle that you couldn't hope to afford from your own earning power. Depressing.

Not when you're young. I was an on-call nanny for very rich people at one of the nation's most selective country clubs during summers in high school and college, and living that lifestyle even for a day or two and getting paid for it was AMAZING to me at 16 and 17. I would take the kids to the beach or club pool, or just watch them at the house (where they had a private pool, but no ice cream stand or water slide, LOL), and the parents always told me to make myself at home - if I wanted lunch, the chef would make me something, I could use their nice cars to take the kids out to the playground or the beach, and they left petty cash to cover any activities the kids wanted to do. I was very well paid, in cash, usually with an enormous tip. I loved that gig. I basically played with really nice little kids (none of them were monsters) and worked on my tan at some of the nicest private beaches and pools in California, ate fabulous food for free, drove luxury cars everywhere I went, and made tons of money. Hell, I wish I could have that gig NOW.

+1. I nannied for a very wealthy family during my college years. They had a chef, a F/T housekeeper, their infant had his own nurse (I was in charge of the older kids), an incredible pool, they gave me a cellphone and car to use, and the kids were always doing cool activities or sports. Like the PP I quoted, the kids were generally very well-behaved and I'm still in touch with the family from time to time. Definitely not a bad gig at all!

[Anonymous]

Too many people here think they are middle class.

Top 10% of income is rich. Period. So, in the DMV, 250k+.

From a bankers perspective, income is largely irrelevant. It's net worth.

1-5 million. Wealthy. This gives you a personal, not private, banker and a few perks.

5-20 million. High net worth. Still a personal banker, with access to a private banker.

20-50 million. Very high net worth. This gets you a private banker who flies to you on your dime.

50 million and up. Ultra high net worth. Your private banker flies to you and the bank pays for it.

[Anonymous]

Anonymous wrote:Too many people here think they are middle class.

Top 10% of income is rich. Period. So, in the DMV, 250k+.

From a bankers perspective, income is largely irrelevant. It's net worth.

1-5 million. Wealthy. This gives you a personal, not private, banker and a few perks.

5-20 million. High net worth. Still a personal banker, with access to a private banker.

20-50 million. Very high net worth. This gets you a private banker who flies to you on your dime.

50 million and up. Ultra high net worth. Your private banker flies to you and the bank pays for it.

We're less than $250k, but in the 1-5 million range. We don't have any personal banker.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Too many people here think they are middle class.

Top 10% of income is rich. Period. So, in the DMV, 250k+.

From a bankers perspective, income is largely irrelevant. It's net worth.

1-5 million. Wealthy. This gives you a personal, not private, banker and a few perks.

5-20 million. High net worth. Still a personal banker, with access to a private banker.

20-50 million. Very high net worth. This gets you a private banker who flies to you on your dime.

50 million and up. Ultra high net worth. Your private banker flies to you and the bank pays for it.

We're less than $250k, but in the 1-5 million range. We don't have any personal banker.

Did you ask?

[Anonymous]

This is DC, so being smart and well connected are usually a lot more "prestigious." What makes me happy about being "rich" is that we can give one-third of our income to our favorite causes and candidates. As a result, my DC is comfortable at the White House and the halls of power. I bet my DC knows more MoCs than the typical K Streeter. The behind the scenes tours at the Smithsonian and the zoo are really special.

Our lifestyle means Martha's Vineyard in the summer, Asia in the fall, a warm weather trip in the winter, and Europe for spring break. But, we prefer nice AirBnBs to $1000/night hotels and we only fly first or business on miles. Our vintage Porsche cost less than the Toyota SUV. Yes, we had a nanny when DC was little, but we shared her with another family so we could pay for a more skilled/qualified one than we could otherwise afford. We only hired a housekeeper after the spouse and I argued over the chores. Private school tuition isn't a big deal, but I prefer to have my own cooking for lunch rather than eat out. We still get most of our books from the library than Amazon. I once had a very expensive watch but after losing it within six months, I've stuck to Timex ever since. Minibar and Komi are great, but I can't eat like that more than twice a year. I'm a regular at fast casual Cava and Sweetgreen.

[Anonymous]

Anonymous wrote:This is DC, so being smart and well connected are usually a lot more "prestigious." What makes me happy about being "rich" is that we can give one-third of our income to our favorite causes and candidates. As a result, my DC is comfortable at the White House and the halls of power. I bet my DC knows more MoCs than the typical K Streeter. The behind the scenes tours at the Smithsonian and the zoo are really special.

Our lifestyle means Martha's Vineyard in the summer, Asia in the fall, a warm weather trip in the winter, and Europe for spring break. But, we prefer nice AirBnBs to $1000/night hotels and we only fly first or business on miles. Our vintage Porsche cost less than the Toyota SUV. Yes, we had a nanny when DC was little, but we shared her with another family so we could pay for a more skilled/qualified one than we could otherwise afford. We only hired a housekeeper after the spouse and I argued over the chores. Private school tuition isn't a big deal, but I prefer to have my own cooking for lunch rather than eat out. We still get most of our books from the library than Amazon. I once had a very expensive watch but after losing it within six months, I've stuck to Timex ever since. Minibar and Komi are great, but I can't eat like that more than twice a year. I'm a regular at fast casual Cava and Sweetgreen.

Nobody prefers air bnb (really?) to $1000/night hotel.

[Anonymous]

Anonymous wrote:

Anonymous wrote:This is DC, so being smart and well connected are usually a lot more "prestigious." What makes me happy about being "rich" is that we can give one-third of our income to our favorite causes and candidates. As a result, my DC is comfortable at the White House and the halls of power. I bet my DC knows more MoCs than the typical K Streeter. The behind the scenes tours at the Smithsonian and the zoo are really special.

Our lifestyle means Martha's Vineyard in the summer, Asia in the fall, a warm weather trip in the winter, and Europe for spring break. But, we prefer nice AirBnBs to $1000/night hotels and we only fly first or business on miles. Our vintage Porsche cost less than the Toyota SUV. Yes, we had a nanny when DC was little, but we shared her with another family so we could pay for a more skilled/qualified one than we could otherwise afford. We only hired a housekeeper after the spouse and I argued over the chores. Private school tuition isn't a big deal, but I prefer to have my own cooking for lunch rather than eat out. We still get most of our books from the library than Amazon. I once had a very expensive watch but after losing it within six months, I've stuck to Timex ever since. Minibar and Komi are great, but I can't eat like that more than twice a year. I'm a regular at fast casual Cava and Sweetgreen.

Nobody prefers air bnb (really?) to $1000/night hotel.

And nobody who donates enough to get their kids comfortable in the White House and "halls of power" has to use a nanny-share.

Clearly a repeating troll coming up with multiple posts.

[Anonymous]

Anonymous wrote:This is DC, so being smart and well connected are usually a lot more "prestigious." What makes me happy about being "rich" is that we can give one-third of our income to our favorite causes and candidates. As a result, my DC is comfortable at the White House and the halls of power. I bet my DC knows more MoCs than the typical K Streeter. The behind the scenes tours at the Smithsonian and the zoo are really special.

Our lifestyle means Martha's Vineyard in the summer, Asia in the fall, a warm weather trip in the winter, and Europe for spring break. But, we prefer nice AirBnBs to $1000/night hotels and we only fly first or business on miles. Our vintage Porsche cost less than the Toyota SUV. Yes, we had a nanny when DC was little, but we shared her with another family so we could pay for a more skilled/qualified one than we could otherwise afford. We only hired a housekeeper after the spouse and I argued over the chores. Private school tuition isn't a big deal, but I prefer to have my own cooking for lunch rather than eat out. We still get most of our books from the library than Amazon. I once had a very expensive watch but after losing it within six months, I've stuck to Timex ever since. Minibar and Komi are great, but I can't eat like that more than twice a year. I'm a regular at fast casual Cava and Sweetgreen.

You are definitely not rich. Plus you can be smart and well connected while being rich.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This is DC, so being smart and well connected are usually a lot more "prestigious." What makes me happy about being "rich" is that we can give one-third of our income to our favorite causes and candidates. As a result, my DC is comfortable at the White House and the halls of power. I bet my DC knows more MoCs than the typical K Streeter. The behind the scenes tours at the Smithsonian and the zoo are really special.

Our lifestyle means Martha's Vineyard in the summer, Asia in the fall, a warm weather trip in the winter, and Europe for spring break. But, we prefer nice AirBnBs to $1000/night hotels and we only fly first or business on miles. Our vintage Porsche cost less than the Toyota SUV. Yes, we had a nanny when DC was little, but we shared her with another family so we could pay for a more skilled/qualified one than we could otherwise afford. We only hired a housekeeper after the spouse and I argued over the chores. Private school tuition isn't a big deal, but I prefer to have my own cooking for lunch rather than eat out. We still get most of our books from the library than Amazon. I once had a very expensive watch but after losing it within six months, I've stuck to Timex ever since. Minibar and Komi are great, but I can't eat like that more than twice a year. I'm a regular at fast casual Cava and Sweetgreen.

Nobody prefers air bnb (really?) to $1000/night hotel.

And nobody who donates enough to get their kids comfortable in the White House and "halls of power" has to use a nanny-share.

Clearly a repeating troll coming up with multiple posts.

I was just thinking no wealthy person would nanny share. We are only upper middle class and we still got a wonderful nanny.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This is DC, so being smart and well connected are usually a lot more "prestigious." What makes me happy about being "rich" is that we can give one-third of our income to our favorite causes and candidates. As a result, my DC is comfortable at the White House and the halls of power. I bet my DC knows more MoCs than the typical K Streeter. The behind the scenes tours at the Smithsonian and the zoo are really special.

Our lifestyle means Martha's Vineyard in the summer, Asia in the fall, a warm weather trip in the winter, and Europe for spring break. But, we prefer nice AirBnBs to $1000/night hotels and we only fly first or business on miles. Our vintage Porsche cost less than the Toyota SUV. Yes, we had a nanny when DC was little, but we shared her with another family so we could pay for a more skilled/qualified one than we could otherwise afford. We only hired a housekeeper after the spouse and I argued over the chores. Private school tuition isn't a big deal, but I prefer to have my own cooking for lunch rather than eat out. We still get most of our books from the library than Amazon. I once had a very expensive watch but after losing it within six months, I've stuck to Timex ever since. Minibar and Komi are great, but I can't eat like that more than twice a year. I'm a regular at fast casual Cava and Sweetgreen.

Nobody prefers air bnb (really?) to $1000/night hotel.

And nobody who donates enough to get their kids comfortable in the White House and "halls of power" has to use a nanny-share.

Clearly a repeating troll coming up with multiple posts.

I'm new around here and I have met a few people like the pp. My impression is that there are a lot of social climbers in DC.

[Anonymous]

Anonymous wrote:

Anonymous wrote:This is DC, so being smart and well connected are usually a lot more "prestigious." What makes me happy about being "rich" is that we can give one-third of our income to our favorite causes and candidates. As a result, my DC is comfortable at the White House and the halls of power. I bet my DC knows more MoCs than the typical K Streeter. The behind the scenes tours at the Smithsonian and the zoo are really special.

Our lifestyle means Martha's Vineyard in the summer, Asia in the fall, a warm weather trip in the winter, and Europe for spring break. But, we prefer nice AirBnBs to $1000/night hotels and we only fly first or business on miles. Our vintage Porsche cost less than the Toyota SUV. Yes, we had a nanny when DC was little, but we shared her with another family so we could pay for a more skilled/qualified one than we could otherwise afford. We only hired a housekeeper after the spouse and I argued over the chores. Private school tuition isn't a big deal, but I prefer to have my own cooking for lunch rather than eat out. We still get most of our books from the library than Amazon. I once had a very expensive watch but after losing it within six months, I've stuck to Timex ever since. Minibar and Komi are great, but I can't eat like that more than twice a year. I'm a regular at fast casual Cava and Sweetgreen.

Nobody prefers air bnb (really?) to $1000/night hotel.

The reality is a lot prefer it. Not the studio flop pad with a futon, but 1000 a night air bnb gets a lot. Multiple rooms in a beautiful home, private pools, use of yachts, security, privacy, etc.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This is DC, so being smart and well connected are usually a lot more "prestigious." What makes me happy about being "rich" is that we can give one-third of our income to our favorite causes and candidates. As a result, my DC is comfortable at the White House and the halls of power. I bet my DC knows more MoCs than the typical K Streeter. The behind the scenes tours at the Smithsonian and the zoo are really special.

Our lifestyle means Martha's Vineyard in the summer, Asia in the fall, a warm weather trip in the winter, and Europe for spring break. But, we prefer nice AirBnBs to $1000/night hotels and we only fly first or business on miles. Our vintage Porsche cost less than the Toyota SUV. Yes, we had a nanny when DC was little, but we shared her with another family so we could pay for a more skilled/qualified one than we could otherwise afford. We only hired a housekeeper after the spouse and I argued over the chores. Private school tuition isn't a big deal, but I prefer to have my own cooking for lunch rather than eat out. We still get most of our books from the library than Amazon. I once had a very expensive watch but after losing it within six months, I've stuck to Timex ever since. Minibar and Komi are great, but I can't eat like that more than twice a year. I'm a regular at fast casual Cava and Sweetgreen.

Nobody prefers air bnb (really?) to $1000/night hotel.

And nobody who donates enough to get their kids comfortable in the White House and "halls of power" has to use a nanny-share.

Clearly a repeating troll coming up with multiple posts.

I'm new around here and I have met a few people like the pp. My impression is that there are a lot of social climbers in DC.

Is it that obvious?

[Anonymous]

Anonymous wrote:

Anonymous wrote:This us OP. Where does one park a private jet and do you pay the nanny extra to travel or juat regular pay plus accommodation? I would have loved such a nanny gig in my early 20s. Do you let the nanny have some time off so she can also tour around a bit?

Private jet is parked at an airfield. Yes, the nanny is paid extra - regular hourly rate, including travel time, overtime when required (generally on travel days), plus a bonus and spending money for time off.

This is funny, because as a former corporate pilot, I'm not impressed by private jets. They're so everyday to me now.

Yes, yes, I know, it's not the point of the thread, I just thought it was funny.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This is DC, so being smart and well connected are usually a lot more "prestigious." What makes me happy about being "rich" is that we can give one-third of our income to our favorite causes and candidates. As a result, my DC is comfortable at the White House and the halls of power. I bet my DC knows more MoCs than the typical K Streeter. The behind the scenes tours at the Smithsonian and the zoo are really special.

Our lifestyle means Martha's Vineyard in the summer, Asia in the fall, a warm weather trip in the winter, and Europe for spring break. But, we prefer nice AirBnBs to $1000/night hotels and we only fly first or business on miles. Our vintage Porsche cost less than the Toyota SUV. Yes, we had a nanny when DC was little, but we shared her with another family so we could pay for a more skilled/qualified one than we could otherwise afford. We only hired a housekeeper after the spouse and I argued over the chores. Private school tuition isn't a big deal, but I prefer to have my own cooking for lunch rather than eat out. We still get most of our books from the library than Amazon. I once had a very expensive watch but after losing it within six months, I've stuck to Timex ever since. Minibar and Komi are great, but I can't eat like that more than twice a year. I'm a regular at fast casual Cava and Sweetgreen.

Nobody prefers air bnb (really?) to $1000/night hotel.

The reality is a lot prefer it. Not the studio flop pad with a futon, but 1000 a night air bnb gets a lot. Multiple rooms in a beautiful home, private pools, use of yachts, security, privacy, etc.

That sounds nice. But do you own it (rather than Air BNB it?). That is what this thread is about. Not the wanna bes.

[Anonymous]

Anonymous wrote:

Anonymous wrote:My DD and her college roommates got a bad housing lottery number (meaning they won't get the suite they want to live in next year). So the parents of one of the girls just bought a $4M 4 BR house for the girls to share next year. Sweet.

I remember a story like this from back in the 90s.

Guy was so appalled at GWs housing options and costs he bought a 2 bedroom condo in foggy bottom. Both kids went to GW and after 10 years and the housing boom, when he sold it he basically covered college tuition for both kids!

Rich, smart or lucky. One of the three!

My parents thought about buying a house in my college town (on the CA coast) when I was there in the early 90s, for me to live in with friends and then as an investment but ultimately decided not to because they didn't want to hassle with being out-of-area landlords. Kicking themselves now -- would have made a ton!