What Do You Consider Wealthy?

[Naam]

i own more than a dozen tailormade suits. none of them fit, they all shrank. is it the Thai climate?

More like shoddy Thai workmanship, hope you didnt buy from the hub of sartorial elegance that is Pattaya.

do you really think my suits (nearly all of them from the 1980s) were stitched in Pattaya? if it was Thai workmanship i'd be too happy. but the only reason they "shrank" is that i "expanded"

[onthemoon]

Try to have that love returned if you have no money. A lady has to be a little dim to accept a poor man and who could blame them for not wanting a poor man?

I am sorry to hear that this is how you think of yourself.

Would you prefer your daughter to marry a man who could take care of her or would you prefer her to marry a man she has to take care of? A man who can't take care of himself has no business getting married.

Wow, where is that time machine? You certainly haul from the last century!

[bunta71]

One very rich guy once said: "It's better to cry in an Rolls Royce then in a VW Beetle"

This is where spelling becomes important.

Sorry about that, but excuse me because English is not my native language !

OK but next time we will have to report you with the "report" icon at the bottom...

[Dancealot]

i own more than a dozen tailormade suits. none of them fit, they all shrank. is it the Thai climate?

More like shoddy Thai workmanship, hope you didnt buy from the hub of sartorial elegance that is Pattaya.

do you really think my suits (nearly all of them from the 1980s) were stitched in Pattaya? if it was Thai workmanship i'd be too happy. but the only reason they "shrank" is that i "expanded"

Sir. Naam you are never humble..

[Naam]

i own more than a dozen tailormade suits. none of them fit, they all shrank. is it the Thai climate?

More like shoddy Thai workmanship, hope you didnt buy from the hub of sartorial elegance that is Pattaya.

do you really think my suits (nearly all of them from the 1980s) were stitched in Pattaya? if it was Thai workmanship i'd be too happy. but the only reason they "shrank" is that i "expanded"

Sir. Naam you are never humble..

you mean i'm bragging with my weight gain?

[maxman71]

Kurt Vonnegut, the famous US author (Slaughterhouse Five, Cat's Cradle, etc.) was at a party at the home of some HiSo Washington DC rich person and someone asked him why he wasn't writing books anymore; they told Kurt if he had kept writing, he could have been fabulously wealthy. Kurt responded, "I think it is important to know how much is enough. I have enough already..."

I asked my TGF some time ago how much she thought was wealthy; she answered THB 50 million.

My answer: Enough so you can live reasonably comfortably, support your lifestyle without burdening others, and manage what you have saved wisely and leave something meaningful to your deserving heirs.

[chiang mai]

This is what the UK office of statstics says:

http://www.guardian.co.uk/money/2012/dec/03/richest-10-uk-households-40-per-cent-wealth-ons

[Zooheekock]

Try to have that love returned if you have no money. A lady has to be a little dim to accept a poor man and who could blame them for not wanting a poor man?

I am sorry to hear that this is how you think of yourself.

Would you prefer your daughter to marry a man who could take care of her or would you prefer her to marry a man she has to take care of? A man who can't take care of himself has no business getting married.

As long as her future husband didn't come out with sexist nonsense like this, I wouldn't have an opinion either way.

[muchogra]

Wealth, to me, is to be able to tell people you don't like, in real life, to shovel it up their <deleted> - this, of course, excludes your wife and your close family members. But you need to earn the moola first and know how to guard it!

naam, my suits shrank too, lol! Not only have they shrunk, there are a few holes on my "pure virgin wool" 3 and 2-piece suits...dam_n creatures.love virgins as my YSL 3-piece and others are ok! There are good tailors in Asia. Shanghanese tailors were well-known for their workmanship as you probably know. My MIL always had her clothes tailor-made by the Shanghanese tailors. She looked great so has her daughter. Not everything Europian means good quality and good taste; more to me, it's overpriced but bought for vanity like the LV bags.

[jacktrip]

your estimate for the usa is too high

[Ginabelievesthat]

Very funny. I don't think many people will disagree with you. I do think many would like to know hoe to become financially secure - in reality, without the pyramid schemes and all.

How many think about retirement when they are young? I know people nearing and entering retirement who still owe money on a home, cars, and credit cards. I have no clue what they will do.

OTOH, do the math on saving just 10% of all income from age 25. Not all of it in the bank of course but diversified by buying some gold, some silver, some stocks, some cash...

In 1972 when I was about 24, gold was $35 US per ounce. I was making about $1k per month and could have bought 3 ounces of gold per month. Today it is more like $1,700 per ounce. That would be as if I had saved $5,000 per month in today's dollars, or $60k per year today. Check out the magic of compound interest, where each year you not only earn interest on what you deposited, but you earn interest on all interest earned in past years. In the end the interest you earn on your interest can be greater than the cash you deposit, depending on interest rates. If a 25 year old earning middle class money would save 10% of his income, conservatively but broadly invested, he couldn't help being a millionaire at age 65.

No one wants to sacrifice, and most want to keep up appearances. Nice home on credit, as much car as possible...

Outside the big cities you can buy a liveable home in the US for $100k US. Nothing fancy but small and liveable. Now, if a person refused debt, lived very frugally and saved $2k per month for just 4 years, he could pay cash for that home. But no, how much "better" to get a 30 year mortgage and pay 3 times the price of a home in interest over 30 years and have something to impress the friends and neighbors. What is really more impressive? A free and clear modest home and no debt, or living large with no money and lots of debt and all possible retirement money going to interest?

Recently a very old man in our town died. He was known around town because he rode a bicycle with a basket on it and picked up bottles and cans. He lived in an old home which had never been painted - unusual in the US. He literally used rope for suspenders. He was a loner and everyone knew who he was by his nickname, but no one really knew him. Upon his death it was found that he had $7 million dollars cash in the bank! He never married, never had kids, and all was willed to a charity. I don't recommend his extreme, but he worked in a sawmill until he retired but saved almost all he made. Compound interest, and a modest sized farm he had bought did the rest.

I like you 'Never Sure' ... you sound like my Dad giving lessons in life .. annoying but trustworthy. Lol we'll not discuss the "rope for suspenders" - that's your deal (just kidding) - nice to read you, is all, my compound fraction. : )