Reply to Does your social circle have a lot of family money/trust funds?

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[quote=Anonymous]We live in an affluent neighborhood. Most are working rich, meaning they are the professions OP listed as working class but I would put most of their HHIs at seven figures or high six figures, not just 500k.

I have friends with trusts, mostly when they had a relative pass. I always considered a trust fund baby someone who had a net worth of like 100m. My friends’ trusts are likely in the seven figures so definitely very helpful, especially in terms of not stressing about retirement or tuition but not living lavishly. I don’t know if parents helped with down payments.

There are many people who seem to live above what their incomes. We can roughly guess how much someone earns, especially if he or she is a fed, certain kind of professional. So if someone with a 200k job is living in a $3m home, they probably got some family money. We know a fed plus realtor who goes on all these lavish vacation. They math doesn’t work and I assume they are either up to their eyeballs in debt or they have some family money.[/quote]

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