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  • January 17, 2007 at 1:27 PM #43604
    4runner
    Participant

    You are wealthy if:
    -you make more money than your wife feels comfortable spending and
    -you make more than your brother-in-law.

    January 17, 2007 at 1:41 PM #43606
    sdnativeson
    Participant

    You are wealthy if:
    -you make more money than your wife feels comfortable spending and
    -you make more than your brother-in-law.

    LOL, I may be doomed.

    January 17, 2007 at 8:42 PM #43640
    Anonymous
    Guest

    Ha, ha, sns; liberal, me, never, ever, ever!

    And, as I’ve joked with my kids: I have one word for them if they become liberals, and that word is ‘disowned.’

    January 17, 2007 at 8:59 PM #43642
    mixxalot
    Participant

    Great discussion on what constitutes wealth. For me its a balance of good health, friends, family and lots of financial resources- freedom in that sense.

    Now why did the late Pope John Paul criticize Eastern faiths? Nothing is wrong with Buddhism. It is far older than Christian beliefs and offers much to people. I am not against Christianity or Catholicism but why would the late Pope be so anti other faiths?

    January 17, 2007 at 9:54 PM #43647
    sdnativeson
    Participant

    mixxalot, I don’t think or know that he did, I think he was lamenting the loss of those from what to him, is the true faith. I don’t see that as a criticism of other faiths.

    January 17, 2007 at 10:34 PM #43651
    davelj
    Participant

    Wealth can only be discussed in relative terms; in a vacuum it’s a virtually meaningless term. You are incredibly wealthy in Ghana if you earn $1,000 per month; here in the U.S. you are near the poverty level. If you live in Shreveport, Louisiana and earn $75,000 per year you’re relatively wealthy; here in San Diego you’re firmly entrenched in the middle class. Consequently, any discussion about wealth must include a reference point for comparison.

    Personally my minimum definition of “wealthy” would be an income of $300K/year and a minimum liquid net worth (that is, stocks, bonds, cash, easily saleable real estate or business interests, excluding primary residence) of $5 million and maximum leverage of 25%.

    But that’s just me.

    The problem, of course, is that there are a LOT of people, particularly here in SoCal, that have a big income and big net worth but they spend almost all of that income and that big net worth is highly leveraged such that they are one recession away from extreme financial duress and bankruptcy. It’s only when the tide goes out that you find out who’s been swimming naked, and here in SoCal there are a lot of folks swimming without bathing suits… we just don’t know who they are… yet.

    January 18, 2007 at 11:23 AM #43694
    Wiley
    Participant

    In India you are considered wealthy to own an elephant. There is also a saying there that if you want to burden someone give them an elephant.

    There is much truth in both.

    January 18, 2007 at 11:45 AM #43700
    sdrealtor
    Participant

    Thats a Great Euphamism

    January 18, 2007 at 1:03 PM #43711
    (former)FormerSanDiegan
    Participant

    I know it’s off the subject, but …

    sns, I’ll ask the question on behalf of PC, lk, kjm, et al.: why are you practicing Catholics so darned judgemental and intolerant?

    Isn’t this a judgmental statement ?
    I love the irony (hope it was intended).

    … back to your regular programming.

    January 18, 2007 at 9:21 PM #43778
    sdduuuude
    Participant

    For me, wealth is all about freedom. Freedom to do what you want to do, without external factors, people or situations altering your chosen actions.

    This means having time that is not controlled by anyone else and having money to “rearrange” any situation that comes up which isn’t to your liking.

    Yes, being surrounded by family and friends is great, and it is something a wealthy person may choose do do with their time, but it isn’t necessarily wealth in and of itself.

    To be free is to be wealthy, to me.

    January 19, 2007 at 8:40 AM #43799
    sdnativeson
    Participant

    one of the things I like(d) about this thread, no one was saying they were right or wrong. Now, THAT is a dialogue.

    Having read through the post again, I see that I was the most judgemental one here. I apologize to all of you for that.

    January 20, 2007 at 3:02 AM #43873
    anxvariety
    Participant

    So long as you’re not cold and hungry?

    How about.. having enough money to support your lifestyle on interest.

    Have some time to burn?
    http://en.wikipedia.org/wiki/Natural_capital

    January 20, 2007 at 2:18 PM #43887
    Anonymous
    Guest

    I don’t know if one can answer with a number. “The Millionaire Next Door” talk about how a doctor can blow through $400k/yr on crazy lifestyle choices and a $100k/yr plumber can live a comfortable life and retire in the same style he lived.
    Part of wealthy may be not worrying about money, that when the transmission fails, you just write a check and get it fixed. Part may be that one can afford the Lexus, but cares so little about status that the Camry is the one he buys.
    JOE

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