Do you downplay your wealth? A social discussion NOT a money discussion...

[Anonymous]

Anonymous wrote:I thought most people we know likely think we have a much higher income than we do.

We live in a house we bought for $200k that is now worth nearly $1m. We eat out a lot and we go on a lot of trips and vacations. A LOT. But we use points and deals all the time and I'm an excellent frugal travel shopper. We've had some amazing trips, including a two week trip to the SW for less than $2k incl air fare (family of four), regular trips to Europe and to Maine every summer. But our vacation budget so far this year has been less than $3k. If it comes up I'll share my travel tips, but sometimes I'm embarrassed how our travels may appear to others.

Our income is actually about $95k with a stay at home spouse.

None of this means you're wealthy. Indeed, your lack of telling others upfront what good deals you're getting it for (unless it comes up) means you want people to think you're richer than you are.

[Anonymous]

Anonymous wrote:H inherited several million from his mom. I will inherit similar amts from each my mother & my father. We have 3 kids & one car (Volvo wagon). We both work. No cleaning lady. We keep $hit real. We also live with /around people who have much more than we do.

This has nothing to do with your wealth now.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We have no debt, zip, zilch, zero. I am a fed and my parents gifted me a large down payment, which I used to buy a house in PG outright. I still drive my car from college but we bought our newer car with cash. It is easy to accumulate money without a mortgage and a lot of my friends with fancier jobs see that I am frugal and think I am poorer than them. Recently my child was sick and my friend asked if I needed money. I told her insurance covered everything and I am fine, but it was nice of her to offer.

Why do you need your parents to give you money?

Wanted to add: you are debt free because your parents float you. So you can sit down and shut up.

NP here: you're being unnecessarily mean. She said her parents loaned her the money. So? OP's post did t differentiate bw those that are wealthy from earnings and those that received inherited or gifted money. That said, I don't know that she's wealthy. She at be better off than her friends financially but nothing in her post says she's wealthy.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I thought most people we know likely think we have a much higher income than we do.

We live in a house we bought for $200k that is now worth nearly $1m. We eat out a lot and we go on a lot of trips and vacations. A LOT. But we use points and deals all the time and I'm an excellent frugal travel shopper. We've had some amazing trips, including a two week trip to the SW for less than $2k incl air fare (family of four), regular trips to Europe and to Maine every summer. But our vacation budget so far this year has been less than $3k. If it comes up I'll share my travel tips, but sometimes I'm embarrassed how our travels may appear to others.

Our income is actually about $95k with a stay at home spouse.

None of this means you're wealthy. Indeed, your lack of telling others upfront what good deals you're getting it for (unless it comes up) means you want people to think you're richer than you are.

I LOVE telling people about our deals but 1) talking about money is gauche and 2) it sounds awkward to be apologizing for your vacation, 3) I regularly DO tell people about our deals, but only if it seems appropriate (see 1 and 2). Four, I didn't claim to be wealthy based on our income. However, relatively we are and unlike the rest of you I recognize how lucky we are. (We have a net worth of close to $2m and no one, not even our families has any idea).

[Anonymous]

Do you know any of us to say, "unlike the rest of you..." that YOU realize how lucky you are? Translation: the rest of you aren't grateful like I am? What a judgmental person!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I thought most people we know likely think we have a much higher income than we do.

We live in a house we bought for $200k that is now worth nearly $1m. We eat out a lot and we go on a lot of trips and vacations. A LOT. But we use points and deals all the time and I'm an excellent frugal travel shopper. We've had some amazing trips, including a two week trip to the SW for less than $2k incl air fare (family of four), regular trips to Europe and to Maine every summer. But our vacation budget so far this year has been less than $3k. If it comes up I'll share my travel tips, but sometimes I'm embarrassed how our travels may appear to others.

Our income is actually about $95k with a stay at home spouse.

None of this means you're wealthy. Indeed, your lack of telling others upfront what good deals you're getting it for (unless it comes up) means you want people to think you're richer than you are.

I LOVE telling people about our deals but 1) talking about money is gauche and 2) it sounds awkward to be apologizing for your vacation, 3) I regularly DO tell people about our deals, but only if it seems appropriate (see 1 and 2). Four, I didn't claim to be wealthy based on our income. However, relatively we are and unlike the rest of you I recognize how lucky we are. (We have a net worth of close to $2m and no one, not even our families has any idea).

I also see people's faces when I tell them where we live, so I usually add that we have lived there for fifteen years lest they think we are some of those rich folks who spend $1m on a 1500 square ft home with no yard, terrible schools and regular gun shots and crime. But that too is awkward and isn't always appropriate (esp if the person I'm taking to is one of those rich folks who I don't want to feel bad for spending five times more than I did on a crappier house).

[Anonymous]

Anonymous wrote:Do you know any of us to say, "unlike the rest of you..." that YOU realize how lucky you are? Translation: the rest of you aren't grateful like I am? What a judgmental person!

Can't say that for you personally, obviously, but there are enough people on this thread and on the finance pages every day that claim that $300k, or $500k is not enough to live on in DC. Not only are they wring they are obnoxious and insulting to most of America. Look at the way the women whose family helped with her down payment is slammed on this thread. So much snobbery and so little understanding of how real people live.

[Anonymous]

Mature people with money want to pass it onto future generations. Flashing it around is tasteless and attracts "friends" who are looking to benefit from your wealth, not establish meaningful relationships.
Cornelius Vanderbilt acquired the largest fortune in world history, at the time. In three generations it was gone. It's amazing how fast a bunch of free spending children and grandchildren can go through money.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Do you know any of us to say, "unlike the rest of you..." that YOU realize how lucky you are? Translation: the rest of you aren't grateful like I am? What a judgmental person!

Can't say that for you personally, obviously, but there are enough people on this thread and on the finance pages every day that claim that $300k, or $500k is not enough to live on in DC. Not only are they wring they are obnoxious and insulting to most of America. Look at the way the women whose family helped with her down payment is slammed on this thread. So much snobbery and so little understanding of how real people live.

+100.

[Anonymous]

Anonymous wrote:
Please, you are delusional. The US is headed to developing country status and if you look at all other developing countries, you'll see what's happening here. There's a small and privileged upper class, a huge lower class, and a middle class that's doing barely better. The wealthy are good at adapting to this situation, and keep the lower classes in line by throwing out scapegoats and manufactured issues to fight over like dogs. So no, the French Revolution will not be happening again.

Not really. The % of young people earning college degrees is considerably higher than it was 20 years ago. What type of jobs will they be working? Middle class jobs.

The issue is with low-skilled workers. Factories are become more automated, and the people that do work in them need advanced skills. With that, they can do OK as a middle class worker, but without those extra skills, they'll definitely be lower class.

We need to increase apprenticeship and vocational training.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Do you know any of us to say, "unlike the rest of you..." that YOU realize how lucky you are? Translation: the rest of you aren't grateful like I am? What a judgmental person!

Can't say that for you personally, obviously, but there are enough people on this thread and on the finance pages every day that claim that $300k, or $500k is not enough to live on in DC. Not only are they wring they are obnoxious and insulting to most of America. Look at the way the women whose family helped with her down payment is slammed on this thread. So much snobbery and so little understanding of how real people live.

+100.

How was the woman whose parents gave her a down payment slammed? I didn't read every post but only saw something about how that might not mean she's wealthy. What was said that slammed her?

[Anonymous]

Anonymous wrote:

Anonymous wrote:
Please, you are delusional. The US is headed to developing country status and if you look at all other developing countries, you'll see what's happening here. There's a small and privileged upper class, a huge lower class, and a middle class that's doing barely better. The wealthy are good at adapting to this situation, and keep the lower classes in line by throwing out scapegoats and manufactured issues to fight over like dogs. So no, the French Revolution will not be happening again.

Not really. The % of young people earning college degrees is considerably higher than it was 20 years ago. What type of jobs will they be working? Middle class jobs.

The issue is with low-skilled workers. Factories are become more automated, and the people that do work in them need advanced skills. With that, they can do OK as a middle class worker, but without those extra skills, they'll definitely be lower class.

We need to increase apprenticeship and vocational training.

The facts on the ground disagree. Half of young college graduates are either unemployed or underemployed, and it's been that way for several years now. A full 50% of graduates either can't find work or can't find work that required the last four years of their lives.

[Anonymous]

Self made is rising out of poverty. My husband, who had no indoor bathroom, heat from wood he chopped and stacked and sometimes went to neighbors to "borrow" food is self made. He joined the Army and served overseas so he could go to college and he worked as a janitor in college to pay for food and rent. Very few people who aren't immigrants have any idea what it means to be poor. We don't ever flash $ and our children have no idea how much we have. They are expected to work after college. We help with down payments once they're established.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:
Please, you are delusional. The US is headed to developing country status and if you look at all other developing countries, you'll see what's happening here. There's a small and privileged upper class, a huge lower class, and a middle class that's doing barely better. The wealthy are good at adapting to this situation, and keep the lower classes in line by throwing out scapegoats and manufactured issues to fight over like dogs. So no, the French Revolution will not be happening again.

Not really. The % of young people earning college degrees is considerably higher than it was 20 years ago. What type of jobs will they be working? Middle class jobs.

The issue is with low-skilled workers. Factories are become more automated, and the people that do work in them need advanced skills. With that, they can do OK as a middle class worker, but without those extra skills, they'll definitely be lower class.

We need to increase apprenticeship and vocational training.

The facts on the ground disagree. Half of young college graduates are either unemployed or underemployed, and it's been that way for several years now. A full 50% of graduates either can't find work or can't find work that required the last four years of their lives.

+1. Dream on PP. I wonder where you've been the last 10 years. Just because you have a college degree doesn't mean you'll transition into a job. More than likely, you will have no job or a shitty one, but still be required to service the huge loan you took out for your wonderful education.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:
Please, you are delusional. The US is headed to developing country status and if you look at all other developing countries, you'll see what's happening here. There's a small and privileged upper class, a huge lower class, and a middle class that's doing barely better. The wealthy are good at adapting to this situation, and keep the lower classes in line by throwing out scapegoats and manufactured issues to fight over like dogs. So no, the French Revolution will not be happening again.

Not really. The % of young people earning college degrees is considerably higher than it was 20 years ago. What type of jobs will they be working? Middle class jobs.

The issue is with low-skilled workers. Factories are become more automated, and the people that do work in them need advanced skills. With that, they can do OK as a middle class worker, but without those extra skills, they'll definitely be lower class.

We need to increase apprenticeship and vocational training.

The facts on the ground disagree. Half of young college graduates are either unemployed or underemployed, and it's been that way for several years now. A full 50% of graduates either can't find work or can't find work that required the last four years of their lives.

+1. Dream on PP. I wonder where you've been the last 10 years. Just because you have a college degree doesn't mean you'll transition into a job. More than likely, you will have no job or a shitty one, but still be required to service the huge loan you took out for your wonderful education.

Hm, no such thing as 50% can't find work that requires degree, it's just a way of creating a statistics. There are many occupations where degree is not required by all employers or technically not required but equivalent amount of training needed (think food industry, hospitality, utilities). Statistics counts those jobs as not requiring a degree. That doesn't mean that the degree is wasted. Easier to get those positions with a degree than without.