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re: What state in America do you most associate with “old money”?
Posted on 4/16/24 at 11:13 am to HailHailtoMichigan!
Posted on 4/16/24 at 11:13 am to HailHailtoMichigan!
Connecticut, Mass., parts of New York and Illinois.
Posted on 4/16/24 at 11:39 am to Obtuse1
quote:
This is a completely different question. Old money tends to live and have lived in enclaves.
Yep. Places like Beacon Hill, Lake Forest, Philadelphia "main line", upper East side of Manhattan, River Oaks, Highland Park, etc. tends to feature a larger proportion of "inherited wealth" from at least 2-3 generations ago than other affluent areas.
In the northern towns like Philly, New York, Boston, and Chicago..... it is often wealth generated as far back as the mid/late 1800s.
I grew up in a blue collar metro area that didn't really explode in growth until the 20th century (Baton Rouge). So being mildly exposed to some "old money" people was absolutely mind blowing to me when I moved up north.
Meanwhile, most of the well off people in Texas/Louisiana/Oklahoma are no more than 1-2 generations removed from poor white trash.
There aren't as many of these old money enclaves in the south for obvious reasons. Most southern cities are newer, with less developed industry. They exist in almost every southern city, but they are smaller and fewer/farther between. And like the California money - most of these wealthy southern enclaves are considered "new money" by Yankee standards.
Posted on 4/16/24 at 11:41 am to Obtuse1
quote:
Unless they have lost all of their great-great-grandfather's money they are decidedly not ending up in FL.
bullshite....a frick ton of them have their primary address (on paper anyway) in Palm Beach.
Posted on 4/16/24 at 11:46 am to Mstate
quote:
What is the cutoff to be considered “old money” is it generational wealth produced by a grandparent or further back than that ?
Depends on where you are. The Bay Area and Seattle are filled with brand new multi-millionaires and billionaires. The mid west and the northeast has far more residual wealth from 200 years ago through the industrial revolution. The south is somewhere in between, and of course looked down upon because much of it traces back to either the icky, roughneck 20th century oil/gas companies or even as far back as the 1800s plantation owners (which is even worse).
In south Louisiana and Texas, the old money/new money line is probably during the oil boom in the 1960s/1970s. In the mid west, it might be pre/post the regions massive growth in the late 1800s with some regional exceptions. In Philadelphia or Boston it might be closer to the founding of the country. Those little dividing lines will probably stay that way for a very long time too.
This post was edited on 4/16/24 at 11:50 am
Posted on 4/16/24 at 12:10 pm to member12
As a whole, Connecticut and Virginia are the top two.
Posted on 4/16/24 at 12:13 pm to member12
quote:lol no
In south Louisiana and Texas, the old money/new money line is probably during the oil boom in the 1960s/1970s
Posted on 4/16/24 at 12:21 pm to dewster
quote:
most of these wealthy southern enclaves are considered "new money" by Yankee standards.
Agree with everything you said. I do find it interesting how "new money" is a sort of a derogatory term with "old money" as being this unattainable (you are or aren't), yet aspirational quality (ie obsession with old money aesthetic, old money qualities / behavior).
At the end of the day, I have a lot more respect (all else equal) for "new money" business owners, executives, etc that made their own way, than people who strictly have money as a birth right and have (particularly adjusted for the hand they were dealt) done frickall in life. Of course, not saying that applies to all old money.
Then again, I have never understood the infatuation with the royal family -- simply lottery winners based on the dick they road in on into the world.
This post was edited on 4/16/24 at 12:22 pm
Posted on 4/16/24 at 12:25 pm to dewster
quote:
Meanwhile, most of the well off people in Texas/Louisiana/Oklahoma are no more than 1-2 generations removed from poor white trash.
The stretch from Baton Rouge to NOLA used to have the most millionaires in the country in the mid-1800's so this isn't true.
From a Southern sense, Charleston, Nashville, NOLA, ATL and Dallas have the most.
Posted on 4/16/24 at 1:28 pm to HailHailtoMichigan!
I'd say Rhode Island or CT.
Posted on 4/16/24 at 1:45 pm to member12
quote:
bullshite....a frick ton of them have their primary address (on paper anyway) in Palm Beach.
Collier County, FL, enters the chat...
Posted on 4/16/24 at 1:50 pm to HailHailtoMichigan!
Connecticut, Massachusetts, or Virginia
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