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Lsut81
Chicago Cubs Fan
Member since Jun 2005
77330 posts

re: Does reading this board make anyone else feel poor?
quote:

I’m in low 90’s percentile net worth,so I’ve done ok


What sites are you all using to judge where you fall in income, worth, etc?


OTIS2
LSU Fan
NoLA
Member since Jul 2008
48007 posts

There are a few links on the first page of this thread that I think folks are using.


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Decisions
LSU Fan
Member since Mar 2015
1364 posts

I find it inspiring that so many are making a good run of it. Anyone willing to grind and learn can still claw their way into the middle/upper-middle/lower-upper classes. To get to the absolute stratosphere takes some luck and connections, but I think people should look at that as a multi-generational goal, instead.


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Double Oh
Louisiana
Member since Sep 2008
14501 posts

I’m not balling but I don’t have any debt. House and vehicles are paid for .


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90
LSUShock
LSU Fan
Kansas
Member since Jun 2014
4501 posts

This is exactly how I feel. I have friends driving 2 brand new vehicles, living in 5 year old or newer houses, flying all over the country with debt out the ass. They seem happy, but it looks so miserable to me.

Then on the other hand, I have friends joining country clubs I can only hope to be a guest at cause they have money out the ass.

I'm somewhere in the middle with no debt, maxed Roth's and proud of what we've done considering our circumstances as a younger married couple with young kids.
This post was edited on 6/5 at 3:17 pm


HailToTheChiz
Auburn Fan
Back in Auburn
Member since Aug 2010
43657 posts

quote:

This is exactly how I feel. I have friends driving 2 brand new vehicles, living in 5 year old or newer houses, flying all over the country with debt out the ass. They seem happy, but it looks so miserable to me.

Then on the other hand, I have friends joining country clubs I can only hope to be a guest at cause they have money out the ass.

I'm somewhere in the middle with no debt, maxed Roth's and proud of what we've done considering our circumstances as a younger married couple with young kids.


Do what you are comfortable with. This is the trap with social media.

You only see the positives from people. You don't see the problems or demons folks are dealing with behind the scenes.


AUlock54
Auburn Fan
Member since Dec 2016
1390 posts

quote:

Do what you are comfortable with. This is the trap with social media. You only see the positives from people. You don't see the problems or demons folks are dealing with behind the scenes.


Deleting FB and just enjoying simple moments with my wife and son have made this past month one of the happiest of my life.


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90
Jag_Warrior
Virginia Fan
Virginia
Member since May 2015
2811 posts

Reading this, or any other message board? Nah.

When I was in my early 20s, I went bike riding with some friends out in Western Albemarle (near Charlottesville). We were tooling along and then we heard this whooshing, whistling kind of sound behind us. Then a loud throttle blip. And around the curve came a Ferrari F40. A deep, bright red, in all its glory. It whizzed past us in a split second and shot to the next curve. Being a car guy since I could push a Hot Wheels around the living room, I was thrilled to see one of my poster cars. But even though I was beginning to do pretty well for myself by then, I was nowhere near F40 territory. So yeah, at that moment, I felt a little poor. Not envious or coveting what that guy had. Just the realization that this guy was WAY higher on the food chain than I was.

But you continue getting your act together and finally (hopefully) figure out that there’s more to life and living than just cars, watches, etc. (and that for everyone richer than you, there’s probably 100 in this world a helluva lot poorer)… and you happily listen to Joe Walsh’s Life’s Been Good to Me or sadly listen to Bob Dylan:

quote:

People are crazy and times are strange
I’m locked in tight, I’m out of range
I used to care, but things have changed


DVinBR
US Space Force Fan
Member since Jan 2013
9963 posts

if you live a comfortable life and aren't living paycheck-to-paycheck, you are doing better than millions of americans


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Turf Taint
LSU Fan
New Orleans
Member since Jun 2021
4050 posts

quote:

this guy was way higher on the food chain


Maybe. Possibly. Probably!?!?

Or not. What do you really know about the F40 owner?

That he is a few hundred grand (or whatever F40s cost) less wealthy than before he owned the F40.

Lots of Californians own an F40 one day and repo man owns it the next.

Or, maybe he was high high on the food chain.

Either way, Like your “more to life than cars” point. Driving F40 is probably fun as chit. Don’t get me wrong. Investing and financial discipline over time makes it possible for some. Aiming for “enough” is more probable , right for most and aligned to your point.



Jag_Warrior
Virginia Fan
Virginia
Member since May 2015
2811 posts

quote:

What do you really know about the F40 owner?


Only that Enzo’s folks must have known him by name (had to be approved and blessed by the good folks in Maranello), and I couldn’t have bought one (brand new) even if I’d had the scratch back then.

Like I said, that was then (the “greed is good” go-go 80s), this is now. My perspective on life has changed dramatically as I’ve aged and (hopefully) matured.


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BottomlandBrew
LSU Fan
Member since Aug 2010
25111 posts

quote:

Maybe. Possibly. Probably!?!?

Or not. What do you really know about the F40 owner?

That he is a few hundred grand (or whatever F40s cost) less wealthy than before he owned the F40.

Lots of Californians own an F40 one day and repo man owns it the next.



Do you know much about cars? Not just any credit-card-happy cheesedick owns an F40 He was fir sure much higher on the food chain.


TDsngumbo
USA Fan
Alpha Silverfox
Member since Oct 2011
36775 posts

It doesn't make me feel poor, just very ignorant to the inner details of why and when to buy stocks. Of course I know the basics but Apple surging to record profits and revenue last two years while the stock dropped made me question everything I know about stocks. Seeing some on this board explain that made my head explode. I mostly stick to mutual funds with just a few stocks here and there because I just don't have the knowledge like some on this board. Sure, I miss out on huge profits that way but I also miss out on enormous losses, too.
This post was edited on 6/7 at 3:25 pm


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Turf Taint
LSU Fan
New Orleans
Member since Jun 2021
4050 posts

quote:

For sure


20% down and 700+ credit is what Walnut Creek, CA dealership I visited required at the time (late 1990s).

That’s high end goat cheesedick but still cheesedick, no?

Look, don’t get me wrong. Likely higher on food chain. But don’t be a slave to appearances. That is all they are for more than I ever realized.


Michael J Cocks
LSU Fan
Right Here
Member since Jun 2007
47118 posts

quote:

I don't feel poor, as I know I'm better off than the average American, but it definitely lets me know I'm not balling either.


THIS!

It definitely puts me in my place and makes me realize just how much I don’t know and never even had a clue about. I’ve always felt fortunate as a middle class citizen that has some savings and insurance for bumps in the road. But now I see just how much opportunity I’ve missed out on over the years.


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Jag_Warrior
Virginia Fan
Virginia
Member since May 2015
2811 posts

quote:

20% down and 700+ credit is what Walnut Creek, CA dealership I visited required at the time (late 1990s).


Production of the F40 ended in the early 90s (92 or so, I believe). You were looking at used models, which anyone with the money (or credit) could buy. In order to buy a new one, like the one that whizzed past us in the late 80s (89?), the buyer had to demonstrate ownership of several Ferraris and be approved by Maranello. The same is true today if you want a specialty model. Screw up, and they’ll even ban you from buying future Ferrari models. Are you worthy?! They make it a big deal… and fans buy into it. Smart marketing.

Like I said, I told that story only to say that the 20 something me could relate to how some of the younger posters here feel about comparative wealth. The 50 something me still loves cars and motorsports. It’s my thang. And although there was no envy or jealousy when I saw that F40, I do admit that it did make me feel a certain kinda way. Nowdays, I’m around F1 and sports car paddocks where there are multi-billion dollars of cars and equipment around. I realize it, but I’m just doing my thing, enjoying the experience.

As my old Italian friend used to say, I’ve already made my bones now. As these younger folks go through life and progress, hopefully they’ll get to that happy/content place too.


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tiger91
USA Fan
In my own little world
Member since Nov 2005
35038 posts

We’re very comfortable with maybe 10/15 years to retirement.

I’m starting to worry though. We just keep rebalancing our portfolio.

More worried about our kids and times ahead.


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