Reply to Superficial way you judge people as rich ?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Indian Americans.

They live below their means but most are rich.   Even the poors have enough to pay for kids college, big fat 100K weddings, retirement, paid off home, kid's first car etc. 
[/quote]
How do they do it?[/quote]

B/c they have no retirement and expect their kids to pay for their life past 60. [b]They aren't rich[/b].[/quote]

:lol: This is not true at all. Indian-Americans are the wealthiest ethnic group in US.

https://en.wikipedia.org/wiki/List_of_ethnic_groups_in_the_United_States_by_household_income[/quote]

Yeah I think there are a lot of Indian Americans who have similar wealth profiles to what people on this thread might consider “rich” or at least UMC.  And they have almost none of the tells of wealthy white folk.  Most of us don’t even think of ourselves as rich but rather as professionals.  So very much working people and so the behavior is different.  The truly wealthy Indians are upper class in India which is its own thing.

But I stopped to think about it and our family is very comfortably off.   My parents have a decent amount of money to support their lifestyle which includes international travel and hanging with the grandkids.  Ideally there won’t be much left over but let’s say low 6 figures for each of their kids.  By far their most important contribution was that we all had expensive weddings, graduated school with no debt, and received a little money here and there as we got set up in life.  And all this from normal educated middle class immigrant parents.  My ILs were not spenders and I don’t know exactly what their estate will look like but I expect my kids will each inherit ~$1M in trusts that will come to them from that side of the family.  No way you would imagine this if you saw my MiL who shops at kohls.

We have an HHI of about $650K.  We spend on travel but pretty much nothing else except a house with a good school system.  Kids are in public.  One will end up at a fancy lottery private that we can afford because of the 529s pretty much the whole family has been contributing to since they were born.  The other can go wherever but will probably go to the (great) state flagship unless a $80K private really seems worth it.

So not flashy in anything.  Huge emphasis on education.  No idea what the next generation will be like but so far they seem to be imbibing the family schtick to spending.  We’ll see. [/quote]

UMC Indian's love Tesla.[/quote]

Also love - hybrid or electric - luxury cars.  UMC Indians homes are geared towards entertaining. [/quote]

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