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re: The value of a dollar to the rich and wealthy
Posted on 3/18/18 at 12:12 pm to rebeloke
Posted on 3/18/18 at 12:12 pm to rebeloke
-----------------------------------------------------------
So someone who makes 25k buys a beer at the bar. His beer is 10x to 100x more expensive
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Wrong. The cost of the beer is the same.
So someone who makes 25k buys a beer at the bar. His beer is 10x to 100x more expensive
-----------------------------------------------------------
Wrong. The cost of the beer is the same.
0
Posted on 3/18/18 at 12:13 pm to TulaneFan
quote:
What do you consider wealthy? I know the median income for most OT’ers is about 500K a month.
Annual income is not wealth, net worth is the only measure of wealth.
Posted on 3/18/18 at 12:15 pm to rebeloke
It's all about living within your means. There are rich folks who make poor financial decisions and don't save. That doesn't make them wealthy. Then there are folks you think have little money but are likely wealthy because they save rather than consume.
Posted on 3/18/18 at 12:40 pm to rebeloke
quote:
Yet when it comes to saving money or giving money, the rich get richer. The rich are hawks about saving and sheepish on giving
They save because they know that there will not always be an influx of cash and that there are millions of low-lifes trying to vote their money out of their pockets.
They are sheepish on giving because they see how the money given is wasted.
Posted on 3/18/18 at 12:50 pm to TulaneFan
quote:
What do you consider wealthy? I know the median income for most OT’ers is about 500K a month.
This is true. Which is interesting Bc we also the OT agonizes over buying a car, shops at Walmart, and can’t afford to shop at Dick’s.
Posted on 3/18/18 at 12:52 pm to rebeloke
quote:
The rich are hawks about saving and sheepish on giving.
This is completely false
Posted on 3/18/18 at 12:53 pm to rebeloke
How poor are you exactly?
Posted on 3/18/18 at 1:20 pm to Powerman
the rich do not get that way from saving. They get that way from investing. You can’t save your way to being rich.
Posted on 3/18/18 at 1:31 pm to rebeloke
quote:
So someone who makes 25k buys a beer at the bar. His beer is 10x to 100x more expensive.
No it isn't - his labor is valued at 1% to 10% of the other cats. Now, it's more "dear" to him, but let's not confuse class warfare terms with actual economic costs.
quote:
Yet I don’t know of anyone who is rich that does value 10k.
This is going rebeloke pretty quickly - WTF you talking about? What are you trying to say? Nobody who works for a living doesn't value $10k, buddy. Maybe an airheaded heiress like Paris Hilton, but even cats on the board of Exxon Mobil are largely self-made guys and know exactly how much $10k is worth. My evidence? They wouldn't have gotten where they are without doing that correctly.
Posted on 3/18/18 at 1:45 pm to S
“You know whats collet than a million dollars? A billion dollars.”
Successful people became wealthy due to wanting to attain wealth and that passion for money only gets stronger when they atrain it.
Successful people became wealthy due to wanting to attain wealth and that passion for money only gets stronger when they atrain it.
Posted on 3/18/18 at 2:26 pm to rebeloke
What's a dollar pssssssst
Posted on 3/18/18 at 2:31 pm to rebeloke
quote:
Yet when it comes to saving money or giving money, the rich get richer. The rich are hawks about saving and sheepish on giving.
Back your claim with evidence on the giving part....statistics, etc.
Posted on 3/18/18 at 2:39 pm to rebeloke
quote:
I mean is the 0 necessary and what are the odds it is a zero?
Bout tree- fiddy to one.
Posted on 3/18/18 at 2:42 pm to rebeloke
if you have 2.5 million and you spend 10k you still have 2.49 million left. If you make 25k and spend 100 you only have 24.9k left.
Posted on 3/18/18 at 3:02 pm to Powerman
quote:it's not completely false, but it is grossly overstated
quote:
The rich are hawks about saving and sheepish on giving.
This is completely false
Posted on 3/18/18 at 3:39 pm to Jack Bauers HnK
quote:
Poor people are sometimes prone to irresponsible financial decisions?
So are rich people, it just does not effect them as much
This post was edited on 3/18/18 at 3:40 pm
Posted on 3/18/18 at 4:00 pm to rph1
quote:
the rich do not get that way from saving. They get that way from investing. You can’t save your way to being rich.
Wrong.
My wife and I both came from lower middle class families and met in college. We have lived on 75% of my check and saved 100% of hers. We have done very little other than saving and reducing debt.
We do not have rental properties.
We do not have any money in the stock market.
But we have zero debt and a very high net worth. By saving alone.
We likely would have more if we were invested but I don’t care for the risk.
Posted on 3/18/18 at 4:24 pm to TulaneFan
My two years in Louisiana I noticed that the people tended to be cheap and it’s one of the poorest states in the nation based on per capita income. So play around with that.
Posted on 3/18/18 at 4:38 pm to rebeloke
Having been in both conditions, I’ll yell you the biggest difference is not having to think about small things like a few bucks here or there. Or even a couple hundred. If I need a few grand for a new furnace or transmission or whatever, it sucks and I still hate it, but i don’t have the stress of knowing a thing like that could sink me for years.
Coupons, sales, bargain hunting....these are efforts that are no longer worth my time and attention. It’s very freeing.
Eta: and as for giving, you sonofabitch, I give exponentially more (and more often) than I or anyone I knew ever did when I had nothing and was loaded down with debt. This should be obvious.
Coupons, sales, bargain hunting....these are efforts that are no longer worth my time and attention. It’s very freeing.
Eta: and as for giving, you sonofabitch, I give exponentially more (and more often) than I or anyone I knew ever did when I had nothing and was loaded down with debt. This should be obvious.
This post was edited on 3/18/18 at 4:41 pm
Posted on 3/18/18 at 4:40 pm to SECdragonmaster
Tell us how much money you have
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