Reply to Do you consider a net worth of 2.5 million "rich?"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I don't get all the angst here- OP is rich, but not wealthy . They're upper middle class people amortizing their lifestyle over their lifespan, with no expectation of leaving generational wealth beyond their kids unless they decide to ratchet down expenses in retirement.

I am also rich, but to a much lesser extent- middle class with a nest egg that will allow a middle class lifestyle during retirement. The only thing our kids will likely get is some house equity.

My parents are not rich, middle class but reliant on current income and thus will have to work longer or ratchet down to a lower middle class lifestyle upon retirement. They will be comfortable, continue renting, not have to worry about food, but they won't have much disposable income and will leave nothing behind.

My grandmother was middle class, but poor. After she was no longer able to work, my parents and their siblings supported her til she passed away.

My Aunt and Uncle are wealthy upper middle class. They possess assets such that they could maintain that lifestyle without working. Their heirs could maintain that lifestyle without working, but it would end there. However, the wealth could last indefinitely  should each generation work at maintaining it.

[b]The upper class in this country are those with wealth that requires no personal work to maintain over generations.  [/b]
[/quote]Which denies the existence of an upper class completely.  Any amount of wealth can be squandered.

This entire thread has been so very revealing about the greed that colors the glasses worn by the DC area wealthy.  People who are among the wealthiest in the world, the wealthiest in the country, who deny their wealth because they can't have every expensive trinket that crosses their line of sight.  It is truly astonishing.  [/quote]

That's because we work very hard at difficult jobs and define our existences by work. If it doesn't buy us everything we want, we feel the sacrifices aren't worth it.[/quote]

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