# Rich people or rich looking people



## bambooi (Aug 16, 2011)

I see some rich or rich looking people out there. Do you guys think they are doing the right things - saving for their 401k, ira outside of work, savings account or are they just going paycheck to paycheck and in debt? Now I'm sure there are some rich people who are doing the right things, but everywhere I look there's a person driving the newest car-5.0, shelby, BMWs, MB, GTR, etc. Sometimes I go to the mall and see people wearing LV and AX shirts and I'm thinking "Dang, did he just drop $70 on that?" Oh well. I'm just wondering what you guys think.


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## wilheldp_PE (Aug 16, 2011)

Major Highway said:


> What is an LV or AX shirt?


I hate myself for knowing this, but Louis Vitton and Armani Exchange.


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## BakerEngine (Aug 17, 2011)

A lot of these people don't really have two penny's to rub together, and alot of the stuff there wearing is fake. I see alot of Dolce gabbana around too, I know thats super fake stuff


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## Master slacker (Aug 17, 2011)

wilheldp_PE said:


> Major Highway said:
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> 
> > What is an LV or AX shirt?
> ...


The only place I've ever seen AX is the Houston Galleria... or maybe it was the Dallas Galleria. I don't know. Either way, isn't is a much cheaper line of clothing?


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## picusld (Aug 17, 2011)

Last week, I was donating some stuff at the thrift store and decided to venture in.

To my amazement, there were a number of name brand shirts and pants never worn, tags still on, and looked pretty good for $4 a piece.

I am going there this weekend to pick some stuff up.

My neighbors would never consider going there and my household income is over double what theirs is.

Although I am paying around 1k a month on day care with another one on the way which will take my total up to around $1,800 a month.

That discount really makes a difference...


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## wilheldp_PE (Aug 17, 2011)

Master slacker said:


> wilheldp_PE said:
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> > Major Highway said:
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Yeah, I think AX is a way for douchebags to wear Armani clothing without paying Armani prices. They are still WAY overpriced for t-shirts, though.


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## Capt Worley PE (Aug 17, 2011)

wilheldp_PE said:


> Master slacker said:
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> > wilheldp_PE said:
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I have a hard time paying anything over 5 bucks for t-shirt. I'll go to ten if it is suoer-cool, but that's it.

I have plenty of 3 dollar specials from Kmart.


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## Supe (Aug 17, 2011)

Wait, you mean you're supposed to pay the credit card companies back after you buy something using a CC? Well that sucks!

P.S. - I make decent money, and 90% of my t-shirts are the Hanes pocket tee multipack, courtesy of WalMart/K-Mart/Kohls. Kohls or maybe Pacsun at the mall are about as "high end" as I get, and I wait for sales. In fact, my newest article of clothing is the "World's Best Welding Engineer" t-shirt my old admin bought me for my birthday last year.


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## RIP - VTEnviro (Aug 17, 2011)

With most of the truly rich ones, you'd have no idea they were loaded. Most of the flashy ones you see are up to their ears in debt, since they spend all their money on 'stuff'.

When I worked 55-60 miles outside of NYC, it was the early 2000s housing boom plus the post 9/11 move out of the city exodus.

We did all sorts of inspection work for the local towns. There were 3-4 McMansion subdivisions going up in each town at any given time. 4,000 SF, $750k houses. And the people moving in there were not rich. The mom was either stay at home or worked part time, the dad got to commute 2 hours into the city for some middle mgmt job, and they all had 2-3 kids, luxury SUVs, riding mowers, pools, fancy swingsets, etc.

They were sooo overleveraged. One financial hiccup and they were screwed.


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## willsee (Aug 17, 2011)

I spend all my money on hookers and blow

Who needs a 401k when I plan to die at 45


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## RIP - VTEnviro (Aug 17, 2011)

If you spend it all on hookers and blow, how can you afford porn and chicken?


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## willsee (Aug 17, 2011)

I steal wifi from my neighbors for my porn fix

I wait in line at the soup kitchen for my chicken


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## roadwreck (Aug 17, 2011)

willsee said:


> Who needs a 401k when I plan to die at 45


Good plan :thumbs:


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## Road Guy (Aug 17, 2011)

picusld said:


> Last week, I was donating some stuff at the thrift store and decided to venture in.
> To my amazement, there were a number of name brand shirts and pants never worn, tags still on, and looked pretty good for $4 a piece.
> 
> I am going there this weekend to pick some stuff up.
> ...



we actually get our kids winter coats there (cause they lose them, leave them on the bus, etc,etc)

I probably wont do that to my middle schooler, but the other two (&amp; they never know)


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## Flyer_PE (Aug 17, 2011)

We usually hit the local church rummage sales for winter coats for my son. They're nearly new since the previous owner grew out of it in six months just like my son will. If it gets lost or trashed, we're only out $5.00 or so.


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## RIP - VTEnviro (Aug 17, 2011)

We annually go through all of our clothes and manage to fill up several big black garbage bags with them and donate them. I swear they multiply in the attic. Most of it is perfectly fine, barely worn just doesn't fit right, not my style, etc.


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## Master slacker (Aug 17, 2011)

I was reading over the t-shirt comments above and realized something... the last shirt I *purchased* was a pack of white T's as undershirts and that was at least a year ago. The most recent *acquired* shirts are from blood donation... about 10 of them.


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## MGX (Aug 17, 2011)

From my time as a pizza delivery driver, many of those McMansions are empty of furniture ect or nearly empty.

The truly wealthy people I personally know do not have a high lifestyle or shiny toys for the most part. It seems those who have lots of money handed to them buy the high end consumer goods but the people I know who have accumulated wealth themselves do not typically know what AX or LV is.

I would recommend the book "The Millionaire Next Door" by Stanley. It is a fascinating look into the lives of people with 10+million in net worth.


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## csb (Aug 17, 2011)

If I ever have a ton of money, I'm going to buy a McMansion and just roller skate around in it. I bet that's why those people don't have furniture.


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## RIP - VTEnviro (Aug 17, 2011)

Damn, now I wish I learned to roller skate at those roller rink birthday parties instead of just hanging out at the snack bar.


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## envirotex (Aug 17, 2011)

VTEnviro said:


> Damn, now I wish I learned to roller skate at those roller rink birthday parties instead of just hanging out at the snack bar.


It's not too late! Maybe you could even learn to skate backwards...


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## Dexman PE PMP (Aug 17, 2011)

I think there's a difference between being wealthy and being able to spend money.

From my experience, truly wealthy people have nice things but not over the top while those who strive to look rich are only concerned with the "Better than the Jones'" mentality and will spend until their unborn grandchildren will have to file for bankruptcy...


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## willsee (Aug 17, 2011)

Or people skimp elsewhere to afford nice cars, clothes, etc.


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## knight1fox3 (Aug 17, 2011)

bambooi said:


> I see some rich or rich looking people out there. Do you guys think they are doing the right things - saving for their 401k, ira outside of work, savings account or are they just going paycheck to paycheck and in debt? Now I'm sure there are some rich people who are doing the right things, but everywhere I look there's a person driving the newest car-5.0, shelby, BMWs, MB, GTR, etc. Sometimes I go to the mall and see people wearing LV and AX shirts and I'm thinking "Dang, did he just drop $70 on that?" Oh well. I'm just wondering what you guys think.


I'd have to agree with what most have already said. That basically the "flashy" ones are probably very much in debt. My wife and I are both PEs so we live fairly comfortable. Before we purchased our home, we were debt-free. A lot of that was attributed to how we managed our finances based on a book written by Dave Ramsey. We don't carry over any credit card balances because we save for what we purchase. We also don't buy brand new off the lot cars. Which doesn't mean you can't have a nice car. I just purchased a used (but still fairly new) Infiniti G35. And we can also afford to buy name-brand items for various things. Not sure if that makes us "flashy" or "rich-looking" but its how we live. I don't consider ourselves rich especially with a nice mortgage now. But that is our only debt. We are also diligent about our 401k (err 201k now) retirement plans. I think if you manage your finances responsibly and make a decent living, you can afford to indulge every so often.



Major Highway said:


> My honest opinion is that the ones you see like that are most likely in debt. Not all of them, but probably most of them. I have no data to back this up, it's simply an opinion based on the behavior that I see from people all around me.


lusone:



Dexman PE said:


> I think there's a difference between being wealthy and being able to spend money.
> From my experience, truly wealthy people have nice things but not over the top while those who strive to look rich are only concerned with the "Better than the Jones'" mentality and will spend until their unborn grandchildren will have to file for bankruptcy...


lusone: lusone:


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## willsee (Aug 17, 2011)

I love my g35

I'm not even a PE (yet)

I couldn't imagine TWO PE's under one roof....2x fatty money


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## Dexman PE PMP (Aug 17, 2011)

willsee said:


> I love my g35I'm not even a PE (yet)
> 
> I couldn't imagine TWO PE's under one roof....2x fatty money


2x PE's is not double fatty money. It's morbidly obese money.


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## RIP - VTEnviro (Aug 17, 2011)

The 'Better than the Jones' mentality was really prevalent where I grew up. When I lived in VT, it was the 'At Least We're Not As Poor As Buford' mentality. The neighborhood I live now is pretty normal in that regard. Mostly white collar working class families.

We're not at all flashy, but we do like quality products. I'd rather spend the money now on something good, than buy something flimsy and still have to buy the better one later.

Friends and coworkers are somehow convinced we're loaded, because we go on lots of trips to various places. But it's mostly just that we save our discretionary income and use it to do something memorable. We don't go out to eat, don't go to movies, don't go to concerts, and other than the guilty pleasure of going to a Pats game every year, don't go to sporting events either.

You'd be surprised how quickly that adds up, and I'll remember the hike I took in the Smokies or the snorkeling trip in the Keys a lot longer than an order of pizza shooters at Chotchkie's on some random Tuesday night.


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## ALBin517 (Aug 17, 2011)

My parents met in a factory city that is on the working class end of a lake. So we still spend a lot of time there with family.

The other end of the lake is the ritzy, tourist part. Being up there all the time, it's easy to figure out which of the boats are rentals.

So it's funny watching the people on the rental yachts, doing all they can to make a big deal of themselves like they own it.


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## snickerd3 (Aug 17, 2011)

In our town its hard not being labeled as the rich looking folks just because of where our house is and the cars we drive...and we are by no means rich, just slightly better off than those in town but still WAY less rich than those mansions by the lake.

We do have some fancy brand clothes, but that is only because I bought them at the outlet store on days of mega discounts. The 60-70% off the lowest clearance price are the times we get the better stuff.


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## Road Guy (Aug 17, 2011)

_"Its easy to grin when your ship comes in_

and you've got the stock market beat

but the man worthwhile is the man who can smile

when his shorts are too tight in the seat."


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## ALBin517 (Aug 18, 2011)

Road Guy said:


> _"Its easy to grin when your ship comes in_
> 
> and you've got the stock market beat
> 
> ...



Yeah, the only thing worse than being Smails is pretending to be Smails.


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## solomonb (Aug 21, 2011)

Rest assured, it is a true facade that many people put on to think they are better than the Jones. Sadly, there is some insecurity involved-- in some cases, real insecurity.

My neighbor bought 3 new cars last year, F150, Tahoe, MKX, new $75K boat, $3500 for high school graduation pictures, second home in mountains, new golf clubs for wife ($1800 Pings--She cannot play golf), joined country club, $7500 initiation fee non refundable, $285/month fee, trips to Mexico/Hawaii, etc. I just laugh and wonder when he is going to tip over-- and I think that the time is coming sooner than he realizes. He has his own business, however, is stretched tight in the business.

Interestingly, I am NOT IMPRESSED with any of it!!!!!!!!!! We live in a beautiful neighborhood, however, you sure could not tell what of our stuff came from garage sales, second hand stores and estate sales. Interestingly, much more than you could imagine!!!!!!!!!!!

The main point here is folks that have to continue to keep up with the Jones have some real challenges. Their challenges are multifiplied if they have to show everything to everyone. The folks that I know that have real money, millions, you would never guess that was the case. Simple houses, simple cars, ordinary watches--- some even look that they are one step away from shopping at the mission.

Interestingly, I do shop at the mission for stuff. There can be some great buys there if you diligently search them out

Yes, I do buy good stuff and then make it last. It is cheaper to buy the best 1 time, then the cheapest and replace it 5 times. Surprisingly, many folks fail to see that basic concept

Although I never was a pizza delivery guy, I do know a neighborhood populated with McMansions that had lots of space and nothing in it. However, the individual was happy to say that they lived in McMansionville.

Save your resources, pay cash for what you need, pay off your credit card each month, cook at home-- you will end up with more money than you ever imagined.


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## navyasw02 (Aug 21, 2011)

I dont spend much money, but where I do splurge is on travel. I'd much rather spend 10-20k per year traveling and exploring the world and getting memories than going out to eat, paying a car note, or buying overpriced clothes.


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## chaosiscash (Aug 22, 2011)

navyasw02 said:


> I dont spend much money, but where I do splurge is on travel. I'd much rather spend 10-20k per year traveling and exploring the world and getting memories than going out to eat, paying a car note, or buying overpriced clothes.



lusone:


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## PE-ness (Aug 22, 2011)

I have a similar problem. I save it up for long periods of time, but then I just lose control once in a while and blow it all, until I have nothing left. Sometimes I am able to save up for another "splurge" ( you might say) pretty quickly, but these days, it takes me a lot longer to save up enough to have a real blow-out again.

Times sure have changed.


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## Master slacker (Aug 22, 2011)

^^^ Every so often you have to stroke your own ego if no one will do it for you. It's ok.


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## RIP - VTEnviro (Aug 22, 2011)

chaosiscash said:


> navyasw02 said:
> 
> 
> > I dont spend much money, but where I do splurge is on travel. I'd much rather spend 10-20k per year traveling and exploring the world and getting memories than going out to eat, paying a car note, or buying overpriced clothes.
> ...


Same for me. The nice thing is that other than airfare and rental cars, my trips are usually pretty cheap as they involve camping and hiking in a national park. Already done 4 this year, with 2 more planned for this winter.


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## navyasw02 (Aug 22, 2011)

VTEnviro said:


> chaosiscash said:
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One of my new favorite destinations on a budget is Budapest. It was expensive getting there with airfare, but dirt cheap while there. Most restaurants were very affordable (like $20 for two people for real food), and even one of the nicest places in town was only about $60 for dinner, desert, and drinks. You could get a tram pass and travel everywhere in the city for a few bucks.


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