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Who are the "Hidden Millionaires" in small towns

Posted on 1/7/17 at 12:50 pm
Posted by volod
Leesville, LA
Member since Jun 2014
5392 posts
Posted on 1/7/17 at 12:50 pm

Growing up, I was convinced that the only way you could make real money (70K+) was if you worked in a bigger city.

However, while in school I heard about these people called "hidden millionaires". Apparently, some small town people more money than they let on.

Is there any truth to this. Outside the medical professions, I don't really see how this would work.
Posted by SanFranTiger
Dallas, TX
Member since Sep 2003
4895 posts
Posted on 1/7/17 at 12:51 pm to
In Louisiana, its usually people with oil.
Posted by CommunityCollegeFTW
Member since Apr 2011
19144 posts
Posted on 1/7/17 at 12:51 pm to
Farming
Posted by Jones
Member since Oct 2005
90500 posts
Posted on 1/7/17 at 12:51 pm to
quote:

Apparently, some small town people more money than they let on.


Wait, there's people that don't flaunt their money and spend it like drunken sailors?


Posted by Chazzy McRamzee
Member since Jun 2014
2681 posts
Posted on 1/7/17 at 12:52 pm to
quote:

Apparently, some small town people more money than they let on.

Is there any truth to this. Outside the medical professions, I don't really see how this would work.



Yes, they do exist. They own their own business.
Posted by TypoKnig
Member since Aug 2011
8928 posts
Posted on 1/7/17 at 12:52 pm to
any small town millionaire I came across was from a family who owned a bunch of land in the area
Posted by HempHead
Big Sky Country
Member since Mar 2011
55446 posts
Posted on 1/7/17 at 12:52 pm to
quote:

Is there any truth to this. Outside the medical professions, I don't really see how this would work.



Inheritance and an upbringing that denigrates flashiness.
Posted by emoney
Westerville, OH
Member since May 2010
8642 posts
Posted on 1/7/17 at 12:53 pm to
quote:

Farming
Where I'm from you're either a farmer or a teacher, and very few jobs in between. Farmers always had the nicest houses. They usually married teachers.
Posted by BigAppleTiger
New York City
Member since Dec 2008
10381 posts
Posted on 1/7/17 at 12:53 pm to
There are many of them. Not everyone who has money thinks that spending it lavishly on mansions and cars are the key to happiness. I know people that wear 20 year old sweaters and drive a Mercury Marquis that have millions in the bank.
Posted by NIH
Member since Aug 2008
112613 posts
Posted on 1/7/17 at 12:57 pm to
There are plenty of engineers, doctors, lawyers, etc. who make good money in small towns.
Posted by Decisions
Member since Mar 2015
1474 posts
Posted on 1/7/17 at 12:57 pm to
Even the poorest parishes are going to have at least 3-4 land barons, whether in ag, oil, or timber.
Posted by OhMy
Member since Jan 2016
834 posts
Posted on 1/7/17 at 12:59 pm to
There are tons of hidden millionaires.

My mother was a teacher.
She died in May with a net worth over a million dollars.

It shocked me.

Posted by HempHead
Big Sky Country
Member since Mar 2011
55446 posts
Posted on 1/7/17 at 12:59 pm to
quote:

There are plenty of engineers, doctors, lawyers, etc. who make good money in small towns.



Tradesmen, too. Contractors and service owners (ie HVAC or electrical companies) can do really, really well, especially if they are a good ol' boy and get preference for contracts with the local government or other businesses.

Real estate developers also apply.
This post was edited on 1/7/17 at 1:01 pm
Posted by Modern
Fiddy Men
Member since May 2011
16877 posts
Posted on 1/7/17 at 1:00 pm to
Many plant workers can retire millionaires if they play their cards right with stocks, 401ks and pensions.
Posted by DAbully
Syria
Member since Dec 2016
1028 posts
Posted on 1/7/17 at 1:01 pm to
People with land. They tend to own a lot of it and all think it's worth twice what it actually is. But yeah they got money.
Posted by HempHead
Big Sky Country
Member since Mar 2011
55446 posts
Posted on 1/7/17 at 1:02 pm to
quote:

They tend to own a lot of it and all think it's worth twice what it actually is.


wut
Posted by LakeViewLSU
Baton Rouge
Member since Jun 2009
17730 posts
Posted on 1/7/17 at 1:02 pm to
quote:

Who are the "Hidden Millionaires" in small towns



Posted by JJBTiger2012
Louisiana
Member since Jun 2013
1891 posts
Posted on 1/7/17 at 1:04 pm to
Farmers are loaded and always will be because the government takes special care of them. In small towns it's usually business owners or inherited land owners. I'm from A small town and a prime example is a good friends grandfather. Lives in a 1500 sq ft house, drives a 2003 single cab stripped down Dodge, cuts grass with a 20 yr old snapper, and sells cans. I know for a fact that he owns approx 2000 acres that are farmed, has 7 mill cash in the bank, and another 5-6 mil tied in the market. Oh, and of course cans of cash and coins buried all over his yard. All that said, the old bastsrd looks homeless because he won't buy new clothes! Lol
Posted by upgrayedd
Lifting at Tobin's house
Member since Mar 2013
134860 posts
Posted on 1/7/17 at 1:09 pm to
There was a guy in Ruston that I used to see cruising around in a Viper. He looked like a hobo but he was loaded. I think he made his money with daiquiri machines.
Posted by notiger1997
Metairie
Member since May 2009
58123 posts
Posted on 1/7/17 at 1:09 pm to
quote:

Many plant workers can retire millionaires if they play their cards right with stocks, 401ks and pensions.




Yep, my uncle retired from a refinery with a few million. Dude never let on that he had money. Lived in the same smaller house for 40 years. Browned bag his lunches and rarely went out to eat or took nice trips.

My friend was in the investment business and some of his co-workers handled accounts of retiring guys from Exxon. All many of those men wanted as a dream was to pay off their houses and be able to retire at 65 with a nice bass boat.
They are retiring at 55 with millions in stocks. That's why it's so sad when uninformed people like to assume that when a company does well with stock prices, that somehow only old white CEO's are keeping the profits.

Also, some of the railroad guys can retire easily with more than a million in the bank.
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