Who is unapologetically Rich

[Anonymous]

Well, although our HHI is $430,000 we are pretty rich.

We can afford:

- Spent $450 on dinner last Saturday night.

--We invest in taxable investments even after maxing our 401(k)s, non deductible IRAs and 529 plans

[Anonymous]

Anonymous wrote:

Anonymous wrote:Alright, since the debate on who constitutes "Upper Middle Class" is hotly debated on here, and people can't see to agree on whether 250-500K is rich or just barely making it as middle class, who on here lives a "rich" lifestyle and what is your HHI? Since people with 500K apparently budget carefully, drive 10 year Hondas, go to public school, and have modest vacations at the beach, who are all these people in the area that people complain about on the private schools forum who are in a bubble of wealth jetting off on fancy vacations and letting their 7th graders wear designer clothes? If you can afford to do several of the following, what is your HHI?

--Drive luxury vehicles (BMW, Acura, Audi, Mercedes, etc.)
--Live in a 1 million or more house in a nice neighborhood (NW DC, Bethesda, Chevy Chase, Arlington, McLean, or even Capitol Hill).
--Fully fund retirement
--Fully fund 529s so your kid can go to the best college they can get into, even private school
--Send your kids to private schools like Sidwell, NCS, GDS, etc.
--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
--Afford music lessons, travel sports, tutors, and other enrichment, including expensive camps
--Allow your kids to wear designer labels, like a freshman in high school wearing $150 dollar jeans (7s, Diesel, etc.)
--Buy handbags that are 1000+ on occasion
--Invest some money in taxable investments after maxing out 401K and IRA
--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

I'm curious, because there seems to be many neighborhoods filled with luxury vehicles, many people living in 1 million + houses, and many people in the DC area who enjoy travel, and many who complain about expensive clothes being worn in schools (both public and private)

Someone who is rich knows that expensive cars, clothes, and handbags can be obtained by almost anyone. HHI of $730K here and drive a Honda & Acura, no designer handbag, and kid wears clothes from Children's Place, Old Navy, etc. We have all of the other financial stuff mentioned but the cars and fancy stuff don't mean you're rich.

Indeed. This list is more like, who is not only rich but also addicted to conspicuous consumption?

[Anonymous]

Not I

[Anonymous]

"Someone who is rich knows that expensive cars, clothes, and handbags can be obtained by almost anyone. HHI of $730K here and drive a Honda & Acura, no designer handbag, and kid wears clothes from Children's Place, Old Navy, etc. We have all of the other financial stuff mentioned but the cars and fancy stuff don't mean you're rich."

Totally agree. But I also feel that you are sinfully cheap at your income.

You have the money to spend on clothes not made by children in other countries, i.e., sweatshops, and you choose not to purchase those, instead sticking with the most egregious companies.

You also have the money for super fuel efficient, electric or hybrid cars but you stick with Acuras and Hondas?

So you may think you are being virtuous by not spending as much on cars and clothes, but you are not.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Alright, since the debate on who constitutes "Upper Middle Class" is hotly debated on here, and people can't see to agree on whether 250-500K is rich or just barely making it as middle class, who on here lives a "rich" lifestyle and what is your HHI? Since people with 500K apparently budget carefully, drive 10 year Hondas, go to public school, and have modest vacations at the beach, who are all these people in the area that people complain about on the private schools forum who are in a bubble of wealth jetting off on fancy vacations and letting their 7th graders wear designer clothes? If you can afford to do several of the following, what is your HHI?

--Drive luxury vehicles (BMW, Acura, Audi, Mercedes, etc.)
--Live in a 1 million or more house in a nice neighborhood (NW DC, Bethesda, Chevy Chase, Arlington, McLean, or even Capitol Hill).
--Fully fund retirement
--Fully fund 529s so your kid can go to the best college they can get into, even private school
--Send your kids to private schools like Sidwell, NCS, GDS, etc.
--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
--Afford music lessons, travel sports, tutors, and other enrichment, including expensive camps
--Allow your kids to wear designer labels, like a freshman in high school wearing $150 dollar jeans (7s, Diesel, etc.)
--Buy handbags that are 1000+ on occasion
--Invest some money in taxable investments after maxing out 401K and IRA
--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

I'm curious, because there seems to be many neighborhoods filled with luxury vehicles, many people living in 1 million + houses, and many people in the DC area who enjoy travel, and many who complain about expensive clothes being worn in schools (both public and private)

Someone who is rich knows that expensive cars, clothes, and handbags can be obtained by almost anyone. HHI of $730K here and drive a Honda & Acura, no designer handbag, and kid wears clothes from Children's Place, Old Navy, etc. We have all of the other financial stuff mentioned but the cars and fancy stuff don't mean you're rich.

Indeed. This list is more like, who is not only rich but also addicted to conspicuous consumption?

Yeah I will admit I'm rich but I buy meanswear brands that most people don't recognize. Does that make me unapologetic or not? Either way, I apologize in advance.

[Anonymous]

Anonymous wrote:"Someone who is rich knows that expensive cars, clothes, and handbags can be obtained by almost anyone. HHI of $730K here and drive a Honda & Acura, no designer handbag, and kid wears clothes from Children's Place, Old Navy, etc. We have all of the other financial stuff mentioned but the cars and fancy stuff don't mean you're rich."

Totally agree. But I also feel that you are sinfully cheap at your income.

You have the money to spend on clothes not made by children in other countries, i.e., sweatshops, and you choose not to purchase those, instead sticking with the most egregious companies.

You also have the money for super fuel efficient, electric or hybrid cars but you stick with Acuras and Hondas?

So you may think you are being virtuous by not spending as much on cars and clothes, but you are not.

I'm in the same boat. I don't give a whit that you think I'm being "sinfully cheap." How much do YOU give to charity annually? I bet I give more, in absolute dollars and as a percentage of HHI. Plus, if you want to retire young, you need to be cheap, although I do have one Prius, so I might be okay with you <eyeroll>.

[Anonymous]

Anonymous wrote:

Anonymous wrote:"Someone who is rich knows that expensive cars, clothes, and handbags can be obtained by almost anyone. HHI of $730K here and drive a Honda & Acura, no designer handbag, and kid wears clothes from Children's Place, Old Navy, etc. We have all of the other financial stuff mentioned but the cars and fancy stuff don't mean you're rich."

Totally agree. But I also feel that you are sinfully cheap at your income.

You have the money to spend on clothes not made by children in other countries, i.e., sweatshops, and you choose not to purchase those, instead sticking with the most egregious companies.

You also have the money for super fuel efficient, electric or hybrid cars but you stick with Acuras and Hondas?

So you may think you are being virtuous by not spending as much on cars and clothes, but you are not.

I'm in the same boat. I don't give a whit that you think I'm being "sinfully cheap." How much do YOU give to charity annually? I bet I give more, in absolute dollars and as a percentage of HHI. Plus, if you want to retire young, you need to be cheap, although I do have one Prius, so I might be okay with you <eyeroll>.

You can get as defensive as you want but it doesn't change anything. Our HHI is just shy of 300k. As a person of means, I feel it is my responsibility to spend my money on socially and environmentally reponsible ways. I don't want to compare because it seems useless, but we donated 30K in charity last year: two of our bonuses. We also volunteer 2-3 hours a week, and so do our kids.

I cannot fathom rich people coming on here and bragging about how they buy the dregs of consumer products when their purchasing power allows them to make better decisions.

[Anonymous]

Anonymous wrote:"Someone who is rich knows that expensive cars, clothes, and handbags can be obtained by almost anyone. HHI of $730K here and drive a Honda & Acura, no designer handbag, and kid wears clothes from Children's Place, Old Navy, etc. We have all of the other financial stuff mentioned but the cars and fancy stuff don't mean you're rich."


Totally agree. But I also feel that you are sinfully cheap at your income.

You have the money to spend on clothes not made by children in other countries, i.e., sweatshops, and you choose not to purchase those, instead sticking with the most egregious companies.

You also have the money for super fuel efficient, electric or hybrid cars but you stick with Acuras and Hondas?

So you may think you are being virtuous by not spending as much on cars and clothes, but you are not.

Best Post Ever.

And I think I'll go ahead and complete my "overpriced" children's clothing order which consists of boutique brands, my favorite of which is American made.

[Anonymous]

Anonymous wrote:

Anonymous wrote:"Someone who is rich knows that expensive cars, clothes, and handbags can be obtained by almost anyone. HHI of $730K here and drive a Honda & Acura, no designer handbag, and kid wears clothes from Children's Place, Old Navy, etc. We have all of the other financial stuff mentioned but the cars and fancy stuff don't mean you're rich."

Totally agree. But I also feel that you are sinfully cheap at your income.

You have the money to spend on clothes not made by children in other countries, i.e., sweatshops, and you choose not to purchase those, instead sticking with the most egregious companies.

You also have the money for super fuel efficient, electric or hybrid cars but you stick with Acuras and Hondas?

So you may think you are being virtuous by not spending as much on cars and clothes, but you are not.

I'm in the same boat. I don't give a whit that you think I'm being "sinfully cheap." How much do YOU give to charity annually? I bet I give more, in absolute dollars and as a percentage of HHI. Plus, if you want to retire young, you need to be cheap, although I do have one Prius, so I might be okay with you <eyeroll>.

Bullshit. Buying more expensive clothing will not keep you from retiring young. We "only" make in the 400s and manage to support companies that support a living wage.

[Anonymous]

My my my, the halos are gleaming on this thread!

I qualify for Obamacare subsidies and I still invest money beyond retirement accounts. It's about priorities.

[Anonymous]

--Drive luxury vehicles (BMW, Acura, Audi, Mercedes, etc.) One family car, a Volvo.
--Live in a 1 million or more house in a nice neighborhood (NW DC, Bethesda, Chevy Chase, Arlington, McLean, or even Capitol Hill). Yes, NW DC
--Fully fund retirement. Mostly funded, I'd say.
--Fully fund 529s so your kid can go to the best college they can get into, even private school. Yes, we'll make this happen.
--Send your kids to private schools like Sidwell, NCS, GDS, etc. Yes, but it hurts.
--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, one big trip a year.
--Afford music lessons, travel sports, tutors, and other enrichment, including expensive camps. Not much of this. Have a summer home so don't need camp.
--Allow your kids to wear designer labels, like a freshman in high school wearing $150 dollar jeans (7s, Diesel, etc.) Nope.
--Buy handbags that are 1000+ on occasion Nope, no interest.
--Invest some money in taxable investments after maxing out 401K and IRA, Have enough saved, not contributing right now.
--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

HHI about 350K now, but at one time was much more and we saved a lot of it. Lifestyle now definitely subsidized by that savings. Also, house purchased 15 years ago when it was worth way less than $1 million. Makes a big difference not to have a huge mortgage.

[Anonymous]

Who, then, is buying all the 1K+ designer handbags? I think the better measure would be own more than 3 pairs of 'manolo blahniks'.

[Anonymous]

Anonymous wrote:Who, then, is buying all the 1K+ designer handbags? I think the better measure would be own more than 3 pairs of 'manolo blahniks'.

People who have a ton of credit card debt.

[Anonymous]

Anonymous wrote:Who, then, is buying all the 1K+ designer handbags? I think the better measure would be own more than 3 pairs of 'manolo blahniks'.

I went to an open house a couple of years ago. The house was not lavish, didn't appear to belong to anyone super wealthy, but a walk-in closet had a wall dedicated to heels, mostly Jimmy Choo and Manolos. People have their temptations and may spend way above average for their incomes on something like shoes but not give a hoot about luxury cars or expensive meals.

[Anonymous]

Anonymous wrote:

You can get as defensive as you want but it doesn't change anything. Our HHI is just shy of 300k. As a person of means, I feel it is my responsibility to spend my money on socially and environmentally reponsible ways. I don't want to compare because it seems useless, but we donated 30K in charity last year: two of our bonuses. We also volunteer 2-3 hours a week, and so do our kids.

I cannot fathom rich people coming on here and bragging about how they buy the dregs of consumer products when their purchasing power allows them to make better decisions.

hahaha, did you just refer to yourself as a person of means? on $300 k? I think not.