Country Clubs...I want facts.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Holy carp. Are the initiation fees like investments you get back if you leave? I can't imagine wanting to pay that and we are millionaires.

This is an anonymous chat room where everyone is a millionaire. We are not impressed and know that you are as full of it as a Christmas goose

I don't expect you to be impressed. We are a two lawyer family. DCUM is crawling with those. The point stands. Even if you can afford it, who pays 60K to join a country club?

Well, if there's even a shred of truth to the post that said Congressional had a 10 year wait at $120,000, then I think it's safe to say that there are lots and lots and lots of people who would pay $60,000. We'd pay it in a heartbeat.
You know, all that money you're making, you can't take it with you.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Holy carp. Are the initiation fees like investments you get back if you leave? I can't imagine wanting to pay that and we are millionaires.

Is this the new "Holy Mackerel!"? Huh, I didn't know.
But about those initiation fees: is that capital that is returned to the estate (if not bequethed in the will) upon the member's death?

Rules do vary club to club, but as a general rule, the initiation fee is non equity and is non-refundable under any circumstance (including if you die), non-transferable and non-divisible (in that if you divorce, half of the membership does not belong to your spouse as they would belong as a spouse. For example, I am the full member and DH is a spouse member, kids are dependent members which they can remain until they are a certain age). To make a long story short... you're never seeing that money again. But, as I said there's nuances that vary club to club.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Holy carp. Are the initiation fees like investments you get back if you leave? I can't imagine wanting to pay that and we are millionaires.

This is an anonymous chat room where everyone is a millionaire. We are not impressed and know that you are as full of it as a Christmas goose

Reminds me of the line in Shawshank Redemption when Red says to Heywood after Heywood declares his innocence "You're gonna fit right in. Everyone in here is innocent"

[Anonymous]

I really didn't know the initiation fee was gone forever. With a club like Congressional or CC, where does most of the initiation fee and monthly dues money go? I mean no one's getting rich off the initiation fee, right? Is all that money really used to run the club and various contingencies? It just seems like a flood of money.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Holy carp. Are the initiation fees like investments you get back if you leave? I can't imagine wanting to pay that and we are millionaires.

This is an anonymous chat room where everyone is a millionaire. We are not impressed and know that you are as full of it as a Christmas goose

Reminds me of the line in Shawshank Redemption when Red says to Heywood after Heywood declares his innocence "You're gonna fit right in. Everyone in here is innocent"

Ha ha. So much better than the full Christmas goose.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Holy carp. Are the initiation fees like investments you get back if you leave? I can't imagine wanting to pay that and we are millionaires.

Is this the new "Holy Mackerel!"? Huh, I didn't know.
But about those initiation fees: is that capital that is returned to the estate (if not bequethed in the will) upon the member's death?

Rules do vary club to club, but as a general rule, the initiation fee is non equity and is non-refundable under any circumstance (including if you die), non-transferable and non-divisible (in that if you divorce, half of the membership does not belong to your spouse as they would belong as a spouse. For example, I am the full member and DH is a spouse member, kids are dependent members which they can remain until they are a certain age). To make a long story short... you're never seeing that money again. But, as I said there's nuances that vary club to club.

Holy carp!

[Anonymous]

Anonymous wrote:I really didn't know the initiation fee was gone forever. With a club like Congressional or CC, where does most of the initiation fee and monthly dues money go? I mean no one's getting rich off the initiation fee, right? Is all that money really used to run the club and various contingencies? It just seems like a flood of money.

Memberships turn over slowly. It sounds morbid, but the waiting list is ages long and you almost have to wait for someone to die to get in. Its not like they have dozens of people signing up every week. But yes, it does go toward the upkeep of the club which is substantial. Upkeep on the golf course alone is mind boggling.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I really didn't know the initiation fee was gone forever. With a club like Congressional or CC, where does most of the initiation fee and monthly dues money go? I mean no one's getting rich off the initiation fee, right? Is all that money really used to run the club and various contingencies? It just seems like a flood of money.

Memberships turn over slowly. It sounds morbid, but the waiting list is ages long and you almost have to wait for someone to die to get in. Its not like they have dozens of people signing up every week. But yes, it does go toward the upkeep of the club which is substantial. Upkeep on the golf course alone is mind boggling.

At our club, there are LOTS of older members that paid $5,000 to join thirty years ago.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Holy carp. Are the initiation fees like investments you get back if you leave? I can't imagine wanting to pay that and we are millionaires.

This is an anonymous chat room where everyone is a millionaire. We are not impressed and know that you are as full of it as a Christmas goose

I don't expect you to be impressed. We are a two lawyer family. DCUM is crawling with those. The point stands. Even if you can afford it, who pays 60K to join a country club?

Well, if there's even a shred of truth to the post that said Congressional had a 10 year wait at $120,000, then I think it's safe to say that there are lots and lots and lots of people who would pay $60,000. We'd pay it in a heartbeat.
You know, all that money you're making, you can't take it with you.

You know all those hours you're billing to make that money, you can't get that back at the end of your life either.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Holy carp. Are the initiation fees like investments you get back if you leave? I can't imagine wanting to pay that and we are millionaires.

This is an anonymous chat room where everyone is a millionaire. We are not impressed and know that you are as full of it as a Christmas goose

I don't expect you to be impressed. We are a two lawyer family. DCUM is crawling with those. The point stands. Even if you can afford it, who pays 60K to join a country club?

Well, if there's even a shred of truth to the post that said Congressional had a 10 year wait at $120,000, then I think it's safe to say that there are lots and lots and lots of people who would pay $60,000. We'd pay it in a heartbeat.
You know, all that money you're making, you can't take it with you.

You know all those hours you're billing to make that money, you can't get that back at the end of your life either.

Yeah, and in the spare time I do have I don't want to spend it with country club assholes who value the social standing of the person at the next pool lounge chair over what $60,000-$120,000 will get you in family vacations or charitable giving.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Holy carp. Are the initiation fees like investments you get back if you leave? I can't imagine wanting to pay that and we are millionaires.

This is an anonymous chat room where everyone is a millionaire. We are not impressed and know that you are as full of it as a Christmas goose

I don't expect you to be impressed. We are a two lawyer family. DCUM is crawling with those. The point stands. Even if you can afford it, who pays 60K to join a country club?

Well, if there's even a shred of truth to the post that said Congressional had a 10 year wait at $120,000, then I think it's safe to say that there are lots and lots and lots of people who would pay $60,000. We'd pay it in a heartbeat.
You know, all that money you're making, you can't take it with you.

You know all those hours you're billing to make that money, you can't get that back at the end of your life either.

Yeah, and in the spare time I do have I don't want to spend it with country club assholes who value the social standing of the person at the next pool lounge chair over what $60,000-$120,000 will get you in family vacations or charitable giving.

Stones, glass houses, and all that. Just saying.

[Anonymous]

How much are these clubs full of old people? My impression when I was at one as a guest is most people were 60+ and maybe these clubs were useful for social and networking purposes years ago, but are waning. People have many other options for social outlets and there's a lot more diversity (among the wealthy) than 30 years ago. So are there really plenty of people in their 30s/40s there?

[Anonymous]

23:52 you don't know. We love our jobs. We make much. We see our kids a fair amount. We don't value whatever in hell a CC gets you. You seem to agree on that point. What's your beef?

[Anonymous]

Anonymous wrote:How much are these clubs full of old people? My impression when I was at one as a guest is most people were 60+ and maybe these clubs were useful for social and networking purposes years ago, but are waning. People have many other options for social outlets and there's a lot more diversity (among the wealthy) than 30 years ago. So are there really plenty of people in their 30s/40s there?

Our club has a fairly even mix of ages. What segment you see depends on what you're doing. Saturday afternoon at the pool will be the younger parents with their kids. Wednesday morning golfers will be mostly the older set. Mornings at the gym are mostly the middle-aged fighting middle-aged spread. Mid-morning tennis and yoga is the sahm's.

[Anonymous]

My husband an I do very well financially. Maybe because I grew up middle class, I just can't imagine investing so much in a country club. We've been guests at all of the local clubs, as a lot of colleagues belong to various clubs. Most are nice but I just don't get it.... I am just as happy at the community pool, neighborhood tennis courts and picnicking at Rock Creek park. I feel uneasy at places that exclude others and segregate by keeping less financially secure people out. Just my opinion.