Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:What is wealthy?
I guess for purposes of my question, I just mean, if you consider yourself wealthy, whatever that level of income/net worth is - are you open with others about it, do you keep it under wraps, do you do showy things (wear expensive clothing, live in a mansion, openly discuss the cost of things you do like travel, home projects, etc.)?
As for us, HHI a bit over $1M, NW about $4M, and I consider us wealthy but mostly low key. Never upgraded our house; still live in the same neighborhood as we did in our 20s when our HHI was 20% of what it is now. Send the kids to public. But...we have done some showy things too, like join an exclusive country club, take nice trips (and I do sometimes post photos), treat the kids' friends to expensive outings (like sporting events/concerts). So maybe we are flaunty, I don't know. The thought came up because a cousin complained to me about another one of our cousins who just planned a $40k trip to Italy. Cousin #1 thought cousin #2 was obnoxious for discussing the trip details. Cousin #1 is just as wealthy as cousin #2 so I'm thinking #2 didn't think anything of discussing price since he knew #1 could easily afford such a trip if he wanted.
I love the idea of being modest and quiet about wealth. But in practice, living large is also pretty fun. Just wondered how other people feel about it, or what they're willing to admit to. Would anyone actually confess that it's fun to appear wealthy, to be envied, to have more than most? I'd say it is part fun, but also part shameful. I'm now looking at cousin #2 like, crap, I don't want #1 or anyone else to think I'm obnoxious/braggy/flaunty.
To me this isn't wealthy.
What is wealthy to you?
It’s not wealthy. If your HHI is $1M, and your NW is $4M, didn’t upgrade house, kids in public, you are doing something wrong or need a better financial advisor. Your NW should be much higher or you are lying or a troll. You are losing money and don’t even knkw it. Go find it!
My thoughts too. Our HHI is $330 K and our net worth is over 6 million.
Depends when their NW went to $1M. Perhaps they have enough saved for $90K/year undergrad plus professional school for each kid (THat's $700K+ per kid you'd need). Perhaps they are helping 2 sets of elderly parents.
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:i drive a beater but have a fat brokerage account. live in an unassuming townhouse. but i wear an Omega or a IWC on the daily, even for groceries
LOL. What a weird thing to say bud. Omega is a wealth indicator? I have one in my drawer somewhere. I guess I should wear it too.
its all good, im not trying to one up anyone. im aware this thread has people with 10m or so net worth. but im very aware that i am grocery shopping with a watch that cost me $8k USD on my wrist, its a weird feeling. most people think an apple watch is expensive, and thats like 300 bucks. for most people, spending more than $500 on a watch is rich person territory. i personally think my two watches (yes, i only have 2, sue me) are fairly low key, they look pretty normal to the unitiated
Huh? Women regularly wear engagement rings worth $100K-250K+ grocery shopping. You think $8K is impressive…?
Anonymous wrote:I don’t know if it’s me but in my head anyone that has to work a W2 job is not wealthy.
Anonymous wrote:Anonymous wrote:Huh? Women regularly wear engagement rings worth $100K-250K+ grocery shopping. You think $8K is impressive…?
LOL, "regularly"? You need a reality check.
Anonymous wrote:Huh? Women regularly wear engagement rings worth $100K-250K+ grocery shopping. You think $8K is impressive…?
Anonymous wrote:Anonymous wrote:Anonymous wrote:i drive a beater but have a fat brokerage account. live in an unassuming townhouse. but i wear an Omega or a IWC on the daily, even for groceries
LOL. What a weird thing to say bud. Omega is a wealth indicator? I have one in my drawer somewhere. I guess I should wear it too.
its all good, im not trying to one up anyone. im aware this thread has people with 10m or so net worth. but im very aware that i am grocery shopping with a watch that cost me $8k USD on my wrist, its a weird feeling. most people think an apple watch is expensive, and thats like 300 bucks. for most people, spending more than $500 on a watch is rich person territory. i personally think my two watches (yes, i only have 2, sue me) are fairly low key, they look pretty normal to the unitiated
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:i drive a beater but have a fat brokerage account. live in an unassuming townhouse. but i wear an Omega or a IWC on the daily, even for groceries
LOL. What a weird thing to say bud. Omega is a wealth indicator? I have one in my drawer somewhere. I guess I should wear it too.
its all good, im not trying to one up anyone. im aware this thread has people with 10m or so net worth. but im very aware that i am grocery shopping with a watch that cost me $8k USD on my wrist, its a weird feeling. most people think an apple watch is expensive, and thats like 300 bucks. for most people, spending more than $500 on a watch is rich person territory. i personally think my two watches (yes, i only have 2, sue me) are fairly low key, they look pretty normal to the unitiated
all good indeed. whatever works for you.
seems like you're upset that i said my watches are related to wealth and the topic of this thread. do you disagree that a $8k watch is not an indicator of wealth, at least for 95% of the population?
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:i drive a beater but have a fat brokerage account. live in an unassuming townhouse. but i wear an Omega or a IWC on the daily, even for groceries
LOL. What a weird thing to say bud. Omega is a wealth indicator? I have one in my drawer somewhere. I guess I should wear it too.
its all good, im not trying to one up anyone. im aware this thread has people with 10m or so net worth. but im very aware that i am grocery shopping with a watch that cost me $8k USD on my wrist, its a weird feeling. most people think an apple watch is expensive, and thats like 300 bucks. for most people, spending more than $500 on a watch is rich person territory. i personally think my two watches (yes, i only have 2, sue me) are fairly low key, they look pretty normal to the unitiated
all good indeed. whatever works for you.
Anonymous wrote:Anonymous wrote:Anonymous wrote:i drive a beater but have a fat brokerage account. live in an unassuming townhouse. but i wear an Omega or a IWC on the daily, even for groceries
LOL. What a weird thing to say bud. Omega is a wealth indicator? I have one in my drawer somewhere. I guess I should wear it too.
its all good, im not trying to one up anyone. im aware this thread has people with 10m or so net worth. but im very aware that i am grocery shopping with a watch that cost me $8k USD on my wrist, its a weird feeling. most people think an apple watch is expensive, and thats like 300 bucks. for most people, spending more than $500 on a watch is rich person territory. i personally think my two watches (yes, i only have 2, sue me) are fairly low key, they look pretty normal to the unitiated
Anonymous wrote:Anonymous wrote:i drive a beater but have a fat brokerage account. live in an unassuming townhouse. but i wear an Omega or a IWC on the daily, even for groceries
LOL. What a weird thing to say bud. Omega is a wealth indicator? I have one in my drawer somewhere. I guess I should wear it too.
Anonymous wrote:i drive a beater but have a fat brokerage account. live in an unassuming townhouse. but i wear an Omega or a IWC on the daily, even for groceries