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bluegreen08
LIF Adolescent
Member since 10/07 574 total posts
Name:
a
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Interesting Yahoo Article: "How to tell if you're rich"
thoughts?
Edit: the numbers are all much higher than I expected
Message edited 10/16/2008 5:56:59 PM.
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Posted 10/16/08 5:53 PM  |
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Long Island Weddings
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1stimemom
Love my boys
Member since 2/08 8766 total posts
Name:
Mrs Dee
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Re: Interesting Yahoo Article: "How to tell if you're rich"
Now this is more like it...
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| Posted 10/16/08 6:00 PM |
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sfp0701
Liam's Mommy!
Member since 1/07 9764 total posts
Name:
Tricia
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Re: Interesting Yahoo Article: "How to tell if you're rich"
Wow... I would be pretty close to rich in El Paso but not even close in NY.. But damn.. add kids in NY... I think with 2 kids we would be considered broke!!
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| Posted 10/16/08 6:03 PM |
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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: Interesting Yahoo Article: "How to tell if you're rich"
one thing is for sure..I am not rich.
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| Posted 10/16/08 6:06 PM |
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Reese32
LIF Adult
Member since 7/07 3631 total posts
Name:
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Re: Interesting Yahoo Article: "How to tell if you're rich"
From this, I learned that not only am I not rich in NY, but would not be rich in Fresno, Boston, Albequerque (sp?) Omaha...
But you know what? I'm happy anyway. I don't mind being middle-middle class (if we even rate that "high").
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| Posted 10/16/08 6:28 PM |
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mrsej
The cutest!
Member since 1/07 2495 total posts
Name:
Mommy
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Re: Interesting Yahoo Article: "How to tell if you're rich"
This was my point in my other posts - I don't feel rich even though numerous posters are telling me to stop whining b/c me and my DH make over the coveted 250k. That doesn't even take into account our student loans.
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| Posted 10/16/08 8:49 PM |
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Michelle1123
Baby #5 on the way!
Member since 9/05 7919 total posts
Name:
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Re: Interesting Yahoo Article: "How to tell if you're rich"
I still consider anyone who makes $250k, with or without kids, on LI to be well off. I never said RICH. I think it all depends on someone's interpretation of the word.
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| Posted 10/16/08 8:56 PM |
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mrsej
The cutest!
Member since 1/07 2495 total posts
Name:
Mommy
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Re: Interesting Yahoo Article: "How to tell if you're rich"
Posted by Michelle1123
I still consider anyone who makes $250k, with or without kids, on LI to be well off. I never said RICH. I think it all depends on someone's interpretation of the word.
Not to split hairs, but last night you said people making $250k were "VERY well off" - you capitalized the "very" - what is the difference b/w that and rich?
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| Posted 10/16/08 9:01 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: Interesting Yahoo Article: "How to tell if you're rich"
Posted by Michelle1123
I still consider anyone who makes $250k, with or without kids, on LI to be well off. I never said RICH. I think it all depends on someone's interpretation of the word.
if you can't make on $250K- you need to read a book or take a class in money management
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| Posted 10/16/08 9:01 PM |
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SweetestOfPeas
J'taime Paris!
Member since 3/06 32345 total posts
Name:
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Re: Interesting Yahoo Article: "How to tell if you're rich"
I wonder how many of those "rich" people own a small business and provide jobs?
eta: a small business is defined as a company with 500 employees or less
Message edited 10/16/2008 9:07:23 PM.
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| Posted 10/16/08 9:06 PM |
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mrsej
The cutest!
Member since 1/07 2495 total posts
Name:
Mommy
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Re: Interesting Yahoo Article: "How to tell if you're rich"
Posted by Beth1210
Posted by Michelle1123
I still consider anyone who makes $250k, with or without kids, on LI to be well off. I never said RICH. I think it all depends on someone's interpretation of the word.
if you can't make on $250K- you need to read a book or take a class in money management
I don't think anyone is saying that they can't make it on that - i think that people are saying that that is not "rich". But thanks for the advice.
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| Posted 10/16/08 9:07 PM |
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SweetTooth
I'm a tired mommy!
Member since 12/05 20105 total posts
Name:
Lauren
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Re: Interesting Yahoo Article: "How to tell if you're rich"
Posted by mrsej
This was my point in my other posts - I don't feel rich even though numerous posters are telling me to stop whining b/c me and my DH make over the coveted 250k. That doesn't even take into account our student loans.
Sorry, I still think 250K is well off. There is no reason you can't be living well here on 250K. DH and I also have students loans also and are making maybe half that.
Edited for typos.
Message edited 10/16/2008 9:08:09 PM.
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| Posted 10/16/08 9:07 PM |
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Michelle1123
Baby #5 on the way!
Member since 9/05 7919 total posts
Name:
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Re: Interesting Yahoo Article: "How to tell if you're rich"
Posted by mrsej
Posted by Michelle1123
I still consider anyone who makes $250k, with or without kids, on LI to be well off. I never said RICH. I think it all depends on someone's interpretation of the word.
Not to split hairs, but last night you said people making $250k were "VERY well off" - you capitalized the "very" - what is the difference b/w that and rich?
To me, there is a difference. RICH is someone who owns numerous properties, vacations frequently, buys things without worrying about money spent, etc.
I consider people who own a nice home, a nice car, buy nice things to be well off, or VERY well off.
I didnt realize that there were specific figures that categorized a family as rich.
I drive a Honda. I live in a 2BR house. I have 2 kids. I shop at Target, but I am living comfortably. DH and I make probably about 1/3 of $250k. It just seems like an obsene amount of money to me.
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| Posted 10/16/08 9:11 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: Interesting Yahoo Article: "How to tell if you're rich"
Posted by mrsej
Posted by Beth1210
Posted by Michelle1123
I still consider anyone who makes $250k, with or without kids, on LI to be well off. I never said RICH. I think it all depends on someone's interpretation of the word.
if you can't make on $250K- you need to read a book or take a class in money management
I don't think anyone is saying that they can't make it on that - i think that people are saying that that is not "rich". But thanks for the advice.
let me put it this way
I consider my Dad "rich" - and he never made more then $200K a year combined when my Mom was alive
he retired at 53 a multi- millionaire
I have never once heard him complain about taxes or money
it's all about money managment
ETA- he also put 3 kids thru college- and 2 of the 3 went to private schools
before he retired
Message edited 10/16/2008 9:13:07 PM.
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| Posted 10/16/08 9:12 PM |
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Karen
Just chillin'!!
Member since 1/06 9690 total posts
Name:
Karen
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Re: Interesting Yahoo Article: "How to tell if you're rich"
In most careers, in order to make $250k, you probably have a boatload of student loans!
A married couple, both lawyers - probably could make $250k a year. But they are probably also dealing with $5-10k a month in student loans! Same for a doctor, my SIL will leave med school with almost $300k in student loans. It's insane!
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| Posted 10/16/08 9:15 PM |
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Agape08
LIF Adolescent
Member since 10/08 807 total posts
Name:
Kathy
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Re: Interesting Yahoo Article: "How to tell if you're rich"
Posted by sfp0701
Wow... I would be pretty close to rich in El Paso but not even close in NY.. But damn.. add kids in NY... I think with 2 kids we would be considered broke!!
I want to move to El Paso 
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| Posted 10/16/08 9:17 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: Interesting Yahoo Article: "How to tell if you're rich"
Posted by Karen
In most careers, in order to make $250k, you probably have a boatload of student loans!
A married couple, both lawyers - probably could make $250k a year. But they are probably also dealing with $5-10k a month in student loans! Same for a doctor, my SIL will leave med school with almost $300k in student loans. It's insane!
I think student loans are going to be the dealth of our generation
our parents generation didn't start out in life in debt the people do today
I wanted to go to law school- but I saw what student loans were doing my friends who graduated before me- and I decided it wasn't worth it
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| Posted 10/16/08 9:18 PM |
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mrsej
The cutest!
Member since 1/07 2495 total posts
Name:
Mommy
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Re: Interesting Yahoo Article: "How to tell if you're rich"
Posted by Beth1210
Posted by Karen
In most careers, in order to make $250k, you probably have a boatload of student loans!
A married couple, both lawyers - probably could make $250k a year. But they are probably also dealing with $5-10k a month in student loans! Same for a doctor, my SIL will leave med school with almost $300k in student loans. It's insane!
I think student loans are going to be the dealth of our generation
our parents generation didn't start out in life in debt the people do today
I wanted to go to law school- but I saw what student loans were doing my friends who graduated before me- and I decided it wasn't worth it
It's not, believe me...you probably made one of the best choices of your life - I was discussing this with a few ladies on the other post and told them that if I could do anything over, i wouldn't have gone to law school, and I actually like my job, which is a rarity in that field. consider yourslef very very lucky and one of the smart ones!
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| Posted 10/16/08 9:21 PM |
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isabelle2137
LIF Adult
Member since 12/06 1076 total posts
Name:
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Re: Interesting Yahoo Article: "How to tell if you're rich"
Student loans are absurd these days. I have been saying for years that four years of college is unnecessary.
I loved those years of my life, but I didn't need four years of school to get me where I am - in a great job in the financial industry that I love.
Most of my accounting/finance colleagues agree with me.
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| Posted 10/17/08 9:46 AM |
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GioiaMia
Let's Go Rangers!
Member since 1/07 14818 total posts
Name:
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Re: Interesting Yahoo Article: "How to tell if you're rich"
POOP! I am not rich ANYWHERE!
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| Posted 10/17/08 9:51 AM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: Interesting Yahoo Article: "How to tell if you're rich"
Posted by isabelle2137
Student loans are absurd these days. I have been saying for years that four years of college is unnecessary.
I loved those years of my life, but I didn't need four years of school to get me where I am - in a great job in the financial industry that I love.
Most of my accounting/finance colleagues agree with me.
18 year olds making the decesion to take on a hundred + thousand dollars worth of debt
whose bright idea was this?
how unfair
the price of college is so out of control
my Dad was able to work a summer job and save enough to pay for school for the year
good luck doing that today- you would be lucky to have enough spending money
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| Posted 10/17/08 9:56 AM |
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KrisT
Two Boys for Me!!
Member since 1/07 5213 total posts
Name:
Kristin
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Re: Interesting Yahoo Article: "How to tell if you're rich"
I agree with the other posters regarding student loans. DH and I are both attorneys and while we make very good salaries, we both have student loan debt. We have been fortunate in that we have paid off almost all of our private loans and really just have federal loans left (which have an insanely low interest rate), but I cringe when I think about how much more money we would have in the bank if we didn't go to law school. I also was lucky because I lived home during law school and had partial scholarships for my last 2 years - but it still was very expensive!
I really like my job and work at a great firm, but when people ask me for my opinion about whether or not they should go to law school, I always caution them that it is a HUGE financial commitment (if you are paying for it) and that there is no guarantee that you are going to come out of law school making a six figure salary. It's sad, becauase it shouldn't have to be that way.
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| Posted 10/17/08 10:04 AM |
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Bxgell2
Perfection
Member since 5/05 16438 total posts
Name:
Beth
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Re: Interesting Yahoo Article: "How to tell if you're rich"
Posted by mrsej
Posted by Beth1210
Posted by Karen
In most careers, in order to make $250k, you probably have a boatload of student loans!
A married couple, both lawyers - probably could make $250k a year. But they are probably also dealing with $5-10k a month in student loans! Same for a doctor, my SIL will leave med school with almost $300k in student loans. It's insane!
I think student loans are going to be the dealth of our generation
our parents generation didn't start out in life in debt the people do today
I wanted to go to law school- but I saw what student loans were doing my friends who graduated before me- and I decided it wasn't worth it
It's not, believe me...you probably made one of the best choices of your life - I was discussing this with a few ladies on the other post and told them that if I could do anything over, i wouldn't have gone to law school, and I actually like my job, which is a rarity in that field. consider yourslef very very lucky and one of the smart ones!
I just have to pipe in here for a second - going to law school, or getting a graduate degree, does not necessarily have to become an overwhelming loan burden - it's all about making choices. I had the choice of going to a top 10 law school, but I knew if I did that, I'd be forever bound to working for a big firm, to pay my big loans. Instead, I opted for a less reknown, but still highly recognized law school, that offered a scholarship so my yearly cost was under $5k.
It can be done...
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| Posted 10/17/08 10:04 AM |
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isabelle2137
LIF Adult
Member since 12/06 1076 total posts
Name:
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Re: Interesting Yahoo Article: "How to tell if you're rich"
Posted by Beth1210
Posted by mrsej
Posted by Beth1210
Posted by Michelle1123
I still consider anyone who makes $250k, with or without kids, on LI to be well off. I never said RICH. I think it all depends on someone's interpretation of the word.
if you can't make on $250K- you need to read a book or take a class in money management
I don't think anyone is saying that they can't make it on that - i think that people are saying that that is not "rich". But thanks for the advice.
let me put it this way
I consider my Dad "rich" - and he never made more then $200K a year combined when my Mom was alive
he retired at 53 a multi- millionaire
I have never once heard him complain about taxes or money
it's all about money managment
ETA- he also put 3 kids thru college- and 2 of the 3 went to private schools
before he retired
I think that is fantastic about your father. I wonder how he managed to become a multi millionaire though? Was it in real estate or market investments?
Hope I am not asking too personal of a question, I am just curious.
Message edited 10/17/2008 10:05:17 AM.
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| Posted 10/17/08 10:04 AM |
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kahlua716
3 Girls for Me!
Member since 8/07 12475 total posts
Name:
Keri
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Re: Interesting Yahoo Article: "How to tell if you're rich"
Posted by Tilde
POOP! I am not rich ANYWHERE!
Me neither 
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| Posted 10/17/08 10:11 AM |
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