Reply to Ever wonder how others afford their lifestyle?

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[quote=Anonymous][quote=Anonymous]First, don't rule out family money (meaning, from their parents)

Second, many, many people's lifestyle goes beyond their means.  I think it's because with the ease of getting loans or using credit cards, and as America has been moving more to an entitlement culture, there is less delay gratification in the form of saving or living within one's means.  For example, the % of luxury cars that people actually own, rather than lease, is miniscule.  Going into debt is not seen as a bad thing like it was in earlier times.

Until very recently, I was living in a very wealthy community on the west coast. [b] I'm sure I looked like everyone's poor cousin due to the car I drove and the clothes I wore, etc.  When the economy tanked, a few of the super-high-living people we knew took a dive, and we realized that they had stretched themselves and their credit to maintain their lifestyle.  It sort of dawned on us that we might actually be worth more than some of the fancier people we knew, because we are savers so don't have loans--it may not be a fancy car, but we own it outright…same with the house, etc.[/b]

So, OP, I guess what I'm saying is assume the flashiness of the lifestyle means that there is solid financial bedrock underneath.  Especially if it doesn't seem to add up.[/quote]

Well--yeah.  We have very HHI $550k but also old cars, not biggest house on block, etc.  We also aren't on Facebook:).  We have another home that most people don't know about .  We don't broadcast trips or spending, etc.

I never wonder.  Some of the richest people I know are the least flashiest, non-brand oriented.  Some of the mist financially  hurting--second mortgages, zero savings, maxed out credit cards have the nicest cars, flashy mc mansion and Christmas photo cards with their exotic vacays[/quote]

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