What do you define as rich?

#126
#126
droski said:
I see so rich peoples houses didn't drop in value? Where are you getting your info? There is no official survey of net worth. Income yes, but not net worth.

And why does this matter to you? This isn't a zero sum game where the less money the rich have the more money everyone else has.
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You have a problem with making things up. There are a million surveys of net worth.
 
#127
#127
droski said:
I see. So if 100 people are in a room 99 have $200 in their pocket and 1 has $201 that guy is the rich guy? You need to drop this absurdity that your neighbor being richer than you makes you poor.
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Thats not fair.

The guy sitting on $201 should give the other 99 a penny.
 
#128
#128
fl0at said:
Reserves? 6 year commitment, probably only deploy once, maybe twice.

MGIB + booster was about $1400/mo for me. (I went year round too, summers included). Tennessee has a Helping Heroes grant, which was $1000/semester. And I applied for scholarships throughout undergrad.

I worked a part time job for my first year or two of undergrad, until I got to the point where several of my classes were later at night, and had to stop. I was active duty, though, so as a reservist, you can use those weekends' pay to pay rent.

I think you have about one more year until you'd have to get a waiver for your age. Always a thought.
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The military isn't for me, even reserves. My brother's a Marine, I'll leave it to him. Besides, both of my knees have been shredded to pieces, destroyed right shoulder, and I've had 3 concussions in the past 3 years. They wouldn't want me.

vol_in_il said:
good luck with the move and college
it will change your life
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This is what I'm hoping for.
 
#129
#129
VOLatile said:
The military isn't for me, even reserves. My brother's a Marine, I'll leave it to him. Besides, both of my knees have been shredded to pieces, destroyed right shoulder, and I've had 3 concussions in the past 3 years. They wouldn't want me.
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Sorry to hear, bro. Well, do well, man. There are always options for school. Several companies will pay for employees to go to school, but sometimes they are hard to get into, and take a lot of time and work.

Just keep on plugging at it; education is something that can't be taken away once it is obtained.
 
#132
#132
Ed12111 said:
Considering wealth is relative, that's the only way to define it. This really shouldn't be debatable. The only one being absurd is you.
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The only way? the facebook founder must feel damn poor since he has 1/10th of the money as bill gates.
 
#134
#134
I think it's all relative. If you make 250 or more a year and cant lead a great lifestyle you are an idiot.

My bro who is 28 makes 300k, and has a ridiculous lifestyle and still has a bunch in savings etc.

Maybe if you are making 250 k and have four kids you don't have as much disposable income, but you can still live comfortably.
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#136
#136
Vols520 said:
I think it's all relative. If you make 250 or more a year and cant lead a great lifestyle you are an idiot.

My bro who is 28 makes 300k, and has a ridiculous lifestyle and still has a bunch in savings etc.

Maybe if you are making 250 k and have four kids you don't have as much disposable income, but you can still live comfortably.
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define "great lifestyle?" try living in LA where a nice house is easily $1.5 mil, private school is a must, etc etc etc. you aren't poor at $250k, but you aren't flying first class everywhere either.
 
#137
#137
Rich, in monetary terms, I would define as having the ability to purchase whatever you feel like whenever you feel like it and pay cash for it on the spot.
 
#138
#138
droski said:
define "great lifestyle?" try living in LA where a nice house is easily $1.5 mil, private school is a must, etc etc etc. you aren't poor at $250k, but you aren't flying first class everywhere either.
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I grew up in orange county that's why I stated it's all relative. My bro lives in Chicago now. 300k goes a lot farther out there than here. He is also single and Is a smart investor.

However, if you make 250 plus and can't be somewhat comfortable thats on you. Not a jetsetter lifestyle, but a great life.
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#139
#139
droski said:
define "great lifestyle?" try living in LA where a nice house is easily $1.5 mil, private school is a must, etc etc etc. you aren't poor at $250k, but you aren't flying first class everywhere either.
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My dad made anywhere between 250-350 any given year and after child support for us, private school tuition and college tuition for me (bro had scholarship), he doesn't have a lot for retirement. His line of work will allows him to have is own schedule so he wants to work forever anyway.
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#140
#140
Vols520 said:
My dad made anywhere between 250-350 any given year and after child support for us, private school tuition and college tuition for me (bro had scholarship), he doesn't have a lot for retirement. His line of work will allows him to have is own schedule so he wants to work forever anyway.
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The point of this was to say I get your point.
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#141
#141
Vols520 said:
However, if you make 250 plus and can't be somewhat comfortable thats on you. Not a jetsetter lifestyle, but a great life.
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agreed. but i think when obama is talking about the "rich" and those people "sharing the wealth" he is making the assumption that the extra dollar earned and taxed after $250k is not going to make any real difference in lifestyle.
 
#142
#142
Ihatethebuckeyes said:
I know alot of people throw out the magic number of 250k per year or more as being rich. I personally think that is a load of crap. 250K does not make you wealthy. It makes you comfortable. Just wanted to know what you all thought what rate a person making 250k per year should be taxed at and what rate a person making 750K per year should be taxed at.
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The problem is not those who actually draw a salary of 250k a year from a company. The issue is those who own a small business, as an individual and hire folks with gross earnings of 250K. I own a small business that emplyees 4 people and the idiot democrats just dont get it. They just want to tax the crap out of everybody, and small business who actually employee poeple get the shaft.
 
#143
#143
Vols520 said:
Serious q, not trying to be a jerk. How old are you?
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I'm 24.....I didn't really feel like getting into it too deep. But one can be comfortable and then there is rich. I wouldn't feel rich until I was bringing in at least a million...net worth aside. I just don't see 250,000 as rich...
 
#144
#144
UTvol1fn said:
I'm 24.....I didn't really feel like getting into it too deep. But one can be comfortable and then there is rich. I wouldn't feel rich until I was bringing in at least a million...net worth aside. I just don't see 250,000 as rich...
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I see your point.
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#145
#145
Vol4ever said:
The problem is not those who actually draw a salary of 250k a year from a company. The issue is those who own a small business, as an individual and hire folks with gross earnings of 250K. I own a small business that emplyees 4 people and the idiot democrats just dont get it. They just want to tax the crap out of everybody, and small business who actually employee poeple get the shaft.
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This is the problem i have with it. Small business that employees 4 or 5 people is going to bring in 250k a year and they get the back hand slap for their efforts. It's the reason nothing is made here anymore. You get punished for trying to prosper in this country. They're all morons and just trying to find a way to pay for their high priced lifestyles, leaving us to pick up the tab. Career politicians aren't good for prosperity, just more of the same.
 
#146
#146
VOLatile said:
I wish Bill could get a few more terms in...

Wealth is relative. I make $7.50/hour. I could not support anyone but myself on that and I'm barely scraping by. The only reason I'm still at my job is because I like the environment. My measly $17k/yr is depressingly low. As a result, at 24 years old I'm moving back in with my parents (who make about $25k apiece) so I can save enough money to move to GA and go to college.

I've never once been above the poverty line. I have no idea what it's like living with an excess of money. What is wealth? I have no idea.
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Yet you drink Newcastle.
 
#147
#147
I don't know if rich can be defined. My goal is to get to a point to where my investments are making more than my 8-5 job.
 
#148
#148
VOLatile said:
I wish Bill could get a few more terms in...

Wealth is relative. I make $7.50/hour. I could not support anyone but myself on that and I'm barely scraping by. The only reason I'm still at my job is because I like the environment. My measly $17k/yr is depressingly low. As a result, at 24 years old I'm moving back in with my parents (who make about $25k apiece) so I can save enough money to move to GA and go to college.

I've never once been above the poverty line. I have no idea what it's like living with an excess of money. What is wealth? I have no idea.
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At 50K a year, your parents are roughly at or above average in income per household in America.

If you like where you work and are willing to settle for $7.50 a hour then it's hard for me to muster up much sympathy for your situation. I'd suggest a second job at night to save money faster.
 
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