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  • October 26, 2009 at 3:40 PM #16558
    admin
    Keymaster

    I ask the greater piggington community, “How do you define wealth?”.

    My sister and brother-in-law, who I viewed as successful and wealthy are actually in process of getting foreclosed on and filing for bankruptcy. In addition, they have over $100K in credit card debt. It comes as a complete shock to me. I’m scared, and nervous. I want to help but I don’t want to throw good money after bad.

    “Tom”, not his real name was an account executive at a good sized company. As long as I have known him he had the latest model BMW, usually 7 series or so class, large house, country club membership, the whole nine yards.

    Their savings apparently was close to zero!

    I’m begining to wonder how may other people who make such an effort to have the latest and greatest houses and cars, are just a thread to financial ruin.

    Perhaps Warren Buffett’s way of living is the right way, driving an old Chevy and donating a bunch of his fortune to charities. I’m also reassessing my definition of wealth, do I really need to get a nice BMW to keep up with the jones?

    Just some thoughts………..

    October 26, 2009 at 4:09 PM #473724
    scaredyclassic
    Participant

    wealth is a store of value. What you were witnessing was consumption, not wealth.

    October 26, 2009 at 4:09 PM #473903
    scaredyclassic
    Participant

    wealth is a store of value. What you were witnessing was consumption, not wealth.

    October 26, 2009 at 4:09 PM #474266
    scaredyclassic
    Participant

    wealth is a store of value. What you were witnessing was consumption, not wealth.

    October 26, 2009 at 4:09 PM #474343
    scaredyclassic
    Participant

    wealth is a store of value. What you were witnessing was consumption, not wealth.

    October 26, 2009 at 4:09 PM #474567
    scaredyclassic
    Participant

    wealth is a store of value. What you were witnessing was consumption, not wealth.

    October 26, 2009 at 4:14 PM #473729
    an
    Participant

    [quote=scaredycat]wealth is a store of value. What you were witnessing was consumption, not wealth.[/quote]
    Yep, a person who lives in El Cajon but have a few millions in the bank or in various asset is wealthier than someone who bought a beach front house in La Jolla w/ 100% financing and have little to no savings.

    October 26, 2009 at 4:14 PM #473908
    an
    Participant

    [quote=scaredycat]wealth is a store of value. What you were witnessing was consumption, not wealth.[/quote]
    Yep, a person who lives in El Cajon but have a few millions in the bank or in various asset is wealthier than someone who bought a beach front house in La Jolla w/ 100% financing and have little to no savings.

    October 26, 2009 at 4:14 PM #474271
    an
    Participant

    [quote=scaredycat]wealth is a store of value. What you were witnessing was consumption, not wealth.[/quote]
    Yep, a person who lives in El Cajon but have a few millions in the bank or in various asset is wealthier than someone who bought a beach front house in La Jolla w/ 100% financing and have little to no savings.

    October 26, 2009 at 4:14 PM #474348
    an
    Participant

    [quote=scaredycat]wealth is a store of value. What you were witnessing was consumption, not wealth.[/quote]
    Yep, a person who lives in El Cajon but have a few millions in the bank or in various asset is wealthier than someone who bought a beach front house in La Jolla w/ 100% financing and have little to no savings.

    October 26, 2009 at 4:14 PM #474572
    an
    Participant

    [quote=scaredycat]wealth is a store of value. What you were witnessing was consumption, not wealth.[/quote]
    Yep, a person who lives in El Cajon but have a few millions in the bank or in various asset is wealthier than someone who bought a beach front house in La Jolla w/ 100% financing and have little to no savings.

    October 26, 2009 at 4:14 PM #473734
    IT.MOM
    Participant

    One pretends to be rich, yet has nothing.
    Another pretends to be poor, yet has great wealth.
    Who do you want to be?

    October 26, 2009 at 4:14 PM #473912
    IT.MOM
    Participant

    One pretends to be rich, yet has nothing.
    Another pretends to be poor, yet has great wealth.
    Who do you want to be?

    October 26, 2009 at 4:14 PM #474276
    IT.MOM
    Participant

    One pretends to be rich, yet has nothing.
    Another pretends to be poor, yet has great wealth.
    Who do you want to be?

    October 26, 2009 at 4:14 PM #474353
    IT.MOM
    Participant

    One pretends to be rich, yet has nothing.
    Another pretends to be poor, yet has great wealth.
    Who do you want to be?

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