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re: What do you consider "Upper Middle Class"?

Posted on 3/17/14 at 8:50 pm to
Posted by kingbob
Sorrento, LA
Member since Nov 2010
68470 posts
Posted on 3/17/14 at 8:50 pm to
once again, "millionaires" aren't the capitalist class. 90% of "millionaires" are only millionaires for one year. A million dollars isn't that much anymore. Sure there's plenty of self-made millionaires. But the truly truly rich, who live the lifestyle you imagine of those who are wealthy, is only truly lived by a very very select few who have more money than you can imagine.
Posted by jimbeam
University of LSU
Member since Oct 2011
75703 posts
Posted on 3/17/14 at 8:51 pm to


I actually do have some pretty damn good connections to some big service company players in Lafayette but I don't have any oilfield experience. I also didn't work with them 'in the oilfield' but rather consulting for these service companies
This post was edited on 3/17/14 at 8:55 pm
Posted by kingbob
Sorrento, LA
Member since Nov 2010
68470 posts
Posted on 3/17/14 at 8:51 pm to
quote:

Hell with that bud, just stick with me and we're going to ride this O&G thing to that 5%


You're a landman right?
Posted by GREENHEAD22
Member since Nov 2009
20080 posts
Posted on 3/17/14 at 8:53 pm to
Negative, finishing up school, hoping to work my way to a deep water D&C engineer.
Posted by GREENHEAD22
Member since Nov 2009
20080 posts
Posted on 3/17/14 at 8:55 pm to
quote:

dude. I know several of these guys


As due I, I know two different girls who routinely take the jet or helicopter to go shopping for the day.

quote:

damn good connections to some big service company players in Lafayette


Well if Chevron and BP fall through I may have to come butter ya up, I am good for at least a few rounds of beers.
This post was edited on 3/17/14 at 8:58 pm
Posted by tidehillcrest
Mobile, Alabama
Member since Feb 2013
1521 posts
Posted on 3/17/14 at 8:56 pm to
No bills (besides utilities), and tens of thousands saved up a year.
Posted by kingbob
Sorrento, LA
Member since Nov 2010
68470 posts
Posted on 3/17/14 at 8:56 pm to
Hmm, I must be thinking of someone else who posts here and on the moneyboard. I was trying to get into cementing with Halliburton, but I don't think I'm getting a callback. I have 10 interviews next week with all of the big construction companies minus CB&I so I'm not swetting it. I'd rather be in upstream, where the real money is, than downstream. I guess I'll just have to hold out hope that my family land is sitting on a few billion dollars worth of recoverable natural gas
Posted by tgrbaitn08
Member since Dec 2007
148031 posts
Posted on 3/17/14 at 8:57 pm to
Make up your mind.
Posted by tidehillcrest
Mobile, Alabama
Member since Feb 2013
1521 posts
Posted on 3/17/14 at 8:58 pm to
Hell Id love for someone to give me a million dollars in a briefcase for just one day so I can say Im a millionaire..hell he or she can have the million back the next day..heck hire a ex-sniper to make sure i dont take it for all I care.
Posted by siliconvalleytiger
Bay Area, CA
Member since Apr 2004
31267 posts
Posted on 3/17/14 at 8:58 pm to
Where I live (bay area), upper middle class is at least 250K household income with money in the bank and your own home.
Posted by Sheep
Neither here nor there
Member since Jun 2007
19691 posts
Posted on 3/17/14 at 8:58 pm to
quote:

I would say lower class is between 0-35,000 a year (family)

Middle 35,001 - 75,000

Upper middle 75,001 - 150,000

upper class above 150k a year.


This is what the census says. I can damned assure you that 150K household income is NOT upper class or the very top of "middle class."
Posted by GREENHEAD22
Member since Nov 2009
20080 posts
Posted on 3/17/14 at 8:59 pm to
quote:

CB&I


They pay well.
Posted by kingbob
Sorrento, LA
Member since Nov 2010
68470 posts
Posted on 3/17/14 at 9:04 pm to
They do, but you wouldn't know it from seeing the guy who sold Shaw to them. I went to Bernhard's house. If there's such a thing as a real baller, he is it.
Posted by GREENHEAD22
Member since Nov 2009
20080 posts
Posted on 3/17/14 at 9:06 pm to
Yea he made a pretty penny. Ive been to the Stuller compound before and it is quite nice. Diff Baller status.
This post was edited on 3/17/14 at 9:10 pm
Posted by tgrbaitn08
Member since Dec 2007
148031 posts
Posted on 3/17/14 at 9:09 pm to
quote:

kingbob


quote:

student


Now I understand.

Good luck to you bro

Posted by kingbob
Sorrento, LA
Member since Nov 2010
68470 posts
Posted on 3/17/14 at 9:13 pm to
Yeah, but I'm sure it pails in comparison to tgrbaitn08's hunting camp.
Posted by KG6
Member since Aug 2009
10920 posts
Posted on 3/17/14 at 9:24 pm to
quote:

I can damned assure you that 150K household income is NOT upper class or the very top of "middle class."


I'm in my late 20's and the wife and I clear 150/year now. We are not upper class. We are probably not upper middle class. We are still getting our net worth built up and paying off her massive student loans. Yes I can do the things I want, but we're not rolling in cash.

"Class", as others have said, has a lot more to do with how you handle your money than how much you make. There are so many people in my neighborhood that might make 100k a year as a household, but they will never make upper middle class. They will constantly have $700 car notes, but have 10 different colors of shingles to patch their roof because they never have the cash on hand to fix it correctly
Posted by tgrbaitn08
Member since Dec 2007
148031 posts
Posted on 3/17/14 at 9:26 pm to
quote:

Yeah, but I'm sure it pails in comparison to tgrbaitn08's hunting camp.



what have I claimed here?

You are the one saying that there are only a handful of the true capitalist class in Louisiana that are free from want and whim.

in the same breath you say


quote:

"millionaires" aren't the capitalist class. 90% of "millionaires" are only millionaires for one year. A million dollars isn't that much anymore. Sure there's plenty of self-made millionaires.


then

quote:

But the truly truly rich, who live the lifestyle you imagine of those who are wealthy, is only truly lived by a very very select few who have more money than you can imagine.


do you realize that these people you are referring to are mostly old money and have gained their wealth through trust funds and inheritance? Those people aren't capitalist.
Posted by tgrbaitn08
Member since Dec 2007
148031 posts
Posted on 3/17/14 at 9:28 pm to
quote:

the lifestyle you imagine of those who are wealthy, is only truly lived by a very very select few who have more money than you can imagine.



let me tell you brother, there are more than just a handful of these guys in Louisiana.
Posted by kingbob
Sorrento, LA
Member since Nov 2010
68470 posts
Posted on 3/17/14 at 9:29 pm to
I didn't coin the term "capitalist class". That's a textbook definition used for people of that level of affluence. "capitalist class" does not equal entrepreneur. I understand that the use of that textbook term may have been confusing due to its misleading name. You are very correct about much of the "capitalist" class actually getting their money from trust funds and inheritance. I'm sorry the term is misleading.

P.S. I was just razzin' you with the hunting camp jibe. I know none of us here are real ballers no matter how much we wish we were.
This post was edited on 3/17/14 at 9:31 pm
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