The Middle Class Mind / The Wealthy Mind

Originally Posted by Lighthouse

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With the knowledge that there are a good deal of wealthy folk here (making, say, $500,000 per year plus).

Not even close.

Read this forum a little more closely, and between the lines,
and you'll see the ratio here is way the hell lower than you think.

Originally Posted by Don Carlos

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A former titan of my particular industry put it this way: "Nobody ever got rich off a salary. No matter how high the salary."
Except for some Fortune 500 CEOs and their sidekicks.

Originally Posted by Don Carlos

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If you want to become really wealthy, you need to take risk.
For the most part, I do agree with this.

It is possible to make it via working ... but not if one is salaried ... unless one is very near the top of the chain and there are significant other perks (and often there are).

"You can't get rich working for someone else" just about sums up my opinion on the topic. As far as the debate of rich vs. wealthy, I submit Felix Dennis' wealth chart for discussion:

Wealth Measured by Cash-in-hand or Quickly Reliable Assets (net worth)

£50,000 - £200,000 The comfortable poor
£200,000 - £500,000 The comfortably off
£500,000 - £1 million The comfortably wealthy
£1 million - £5 million The lesser Rich
£5 million - £15 million The comfortably rich
£15 million - £35 million The rich
£35 million - £50 million The seriously rich
£50 million - £100 million The truly rich
Over £100 million The filthy rich and super rich

reading through this thread has made me highly reconsider getting a new car since i got a new job.

perhaps ill continue driving my old one.

Originally Posted by GreenFrog

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reading through this thread has made me highly reconsider getting a new car since i got a new job.

perhaps ill continue driving my old one.

...on the contrary, since you'll probably never get filthy rich, go ahead and get that new car and live it up!

Originally Posted by uhurit

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...on the contrary, since you'll probably never get filthy rich, go ahead and get that new car and live it up!

don't tempt me!

Originally Posted by Geoff Gander

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Does anyone know if 3-D hologram television is under development? Full-sensory experience VR in your living room?

Holograms, or star trek style holodecks? We already have 3-D hologram projectors, though they are still probably a decade off from being commercially accessible for most. However, full-sensory VR in your living room is currently impossible: we can do sight and sound, but we lag greatly in our ability to replicate haptics and olfactory senses. We cannot even accurately replicate more than a few types of surface textures, and systems that can with high fidelity still cost 30k+, and they usually provide actuation to nothing more than a single finger or hand.

Originally Posted by cross22

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A few jobs ago there was a cleaning lady in our office that drove the same exact car as me, same model, year, and color. I was the butt of jokes for years.

Meh, one of the wealthiest guys I've ever known drove a really cheap ****** old car. And had a smoking hot girlfriend anyway. Basing your self worth on the car you drive just sounds so painfully middle class.

Originally Posted by Stillwater

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I always get a kick out of people thinking that posters here are rich or make a high salary. Rich people don't spend their time at a place called Style Forum. Truth be told, the majority of people here are in huge debt due their stylish wants.

Get a life, Hey Man. How many socks in a row is this now, three? You are pathetic.

Originally Posted by Stillwater

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This coming from a guy that has over 7,000 posts and will probably be at 14,000 by the end of the year.

:yawn:

I, for one, think you two make a lovely couple.

Originally Posted by coop86

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"You can't get rich working for someone else" just about sums up my opinion on the topic. As far as the debate of rich vs. wealthy, I submit Felix Dennis' wealth chart for discussion: Wealth Measured by Cash-in-hand or Quickly Reliable Assets (net worth) £50,000 - £200,000 The comfortable poor
Hah. I always thought I came from a middle class family. We're doing worse than I thought.

Originally Posted by mellow

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Hah. I always thought I came from a middle class family. We're doing worse than I thought.

I thought the same thing, though that depends on where you live and cost of living. Also this numbers are by some super rich guy so go figure....

To be wealthy is to derive an income based on existing assets. My grandfather pulls in enough to support a comfortable upper middle class existence This includes: replace the car when he wants, travel when he wants, maintain 1 4,000 sq ft home in NYC area & 2 in Florida, 2 country club memberships, and bribe off life's annoyances great and small ($6,000 for hearing aids? no problem). Money it to be balanced between anchor corporations and risker plays (small cap growth potential, commodities, and options), not left to rot in an Acme Corp approved mutual fund. His neighbour barely leaves his office to maintain that. Grandad plays golf. Further, there is so much more to class than mere money. Class is as much mindset and taste as it is money. Even if we woke up without a cent in our bank accounts, we'd still have our books, our private prep school + university educations, our tastes/inclinations, norms, and our closest social circle. That works going up as well. See pro sports players, lottery winners, and the Beverly Hillbillies. The middle class collectively knows little about using money to their distinct advantage.