Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote: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.
How do they do it?
B/c they have no retirement and expect their kids to pay for their life past 60. They aren't rich.
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
Income is not wealth. And this does not take into consideration Location. They're concentrated in HCOL cities so of course they have higher salaries plus they're far more likely to be married.
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote: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.
How do they do it?
B/c they have no retirement and expect their kids to pay for their life past 60. They aren't rich.
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
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote: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.
How do they do it?
B/c they have no retirement and expect their kids to pay for their life past 60. They aren't rich.
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
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.
NP
UMC Indian's love Tesla.
Anonymous wrote:Anonymous wrote:Anonymous wrote:New money rich:
- thin and attractive with a tastefully done spray tan all year long.
- straight and whitened teeth and good cosmetic work
- good hair. Expensive highlights and cut
- expensive designer clothes. Tasteful but you know they’re expensive. Designer purses and watches a must!
- fancy private school
- nice well decorated house in a desirable zip code
- international travel at fancy resorts
- competitive personality
None of this pertains to the truly wealthy people I know, only the poseurs. The bolded is laughable.
No one with money and class has a spray tan - GTFOH. It is easily the same "bracket" as having a/some tatoo/s.
It's 2023 - I don't know anyone under age 65 who wears a watch or who carries a purse.
The wealthy people I know have minimally designed homes - not matchy matchy clutter.
Successful people don't have to compete, and strivers think they have to compete.
Have you ever seen a woman? A female human?
Anonymous wrote:Anonymous wrote:Anonymous wrote:New money rich:
- thin and attractive with a tastefully done spray tan all year long.
- straight and whitened teeth and good cosmetic work
- good hair. Expensive highlights and cut
- expensive designer clothes. Tasteful but you know they’re expensive. Designer purses and watches a must!
- fancy private school
- nice well decorated house in a desirable zip code
- international travel at fancy resorts
- competitive personality
None of this pertains to the truly wealthy people I know, only the poseurs. The bolded is laughable.
No one with money and class has a spray tan - GTFOH. It is easily the same "bracket" as having a/some tatoo/s.
It's 2023 - I don't know anyone under age 65 who wears a watch or who carries a purse.
The wealthy people I know have minimally designed homes - not matchy matchy clutter.
Successful people don't have to compete, and strivers think they have to compete.
Have you ever seen a woman? A female human?
Anonymous wrote:Anonymous wrote:Private k-12 is the ultimate signal. Except is rare circumstances, I’m really judgy about even wealthy families sending their kids to public. I assume they’re stupid and fell into money.
yeah that's definately judgy. Many of us wealthy believe in public schools and actually choose to live where there are great ones, so we send our kids to public.
Anonymous wrote:Anonymous wrote:New money rich:
- thin and attractive with a tastefully done spray tan all year long.
- straight and whitened teeth and good cosmetic work
- good hair. Expensive highlights and cut
- expensive designer clothes. Tasteful but you know they’re expensive. Designer purses and watches a must!
- fancy private school
- nice well decorated house in a desirable zip code
- international travel at fancy resorts
- competitive personality
None of this pertains to the truly wealthy people I know, only the poseurs. The bolded is laughable.
No one with money and class has a spray tan - GTFOH. It is easily the same "bracket" as having a/some tatoo/s.
It's 2023 - I don't know anyone under age 65 who wears a watch or who carries a purse.
The wealthy people I know have minimally designed homes - not matchy matchy clutter.
Successful people don't have to compete, and strivers think they have to compete.
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote: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.
How do they do it?
B/c they have no retirement and expect their kids to pay for their life past 60. They aren't rich.
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
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.
Anonymous wrote:Rugs. Rich people have expensive rugs in their houses.