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Are you rich?


socurious
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I mean, most of you hire pricy scorts several times a year. How are y'all?

Not according to Dame Suze Orman. I can’t even afford to retire! ? High ho its off to work I go!

https://www.marketwatch.com/story/suze-orman-says-you-need-5-million-to-retire-thats-nonsense-2019-01-15

 

I would probably be considered as “rich” in small town USA, but certainly not in NYC!!

 

Then I see an article like this and it is downright depressing:

https://www.bloomberg.com/news/articles/2018-05-23/bankers-don-t-think-you-re-rich-unless-you-have-25-million ?

Edited by FrankR
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I consider myself solidly middle, middle-class. I have chosen to do things like rent a small apartment and drive an older car (though actually I am carless at the moment) so I can afford to hire and travel. I think you might be surprised but a lot of people on here are probably not very wealthy. I would guess most are in the upper-five, lower-six figure range with a handful of more wealthy clients.

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There was a thread awhile back talking about if their cleaning lady still comes due to the virus. I was surprised about how many gay or bi men on this forum have cleaners or maid services. I always thought that was for wealthy men in big houses with wives and kids who don’t want to do housework.

Hiring anyone to clean for me would be pointless. I know I would spend a couple of hours tidying up in advance of their arrival.

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I am rich in life. I'm relatively well-off money-wise but don't consider myself affluent. I live in a great neighborhood in a wonderful city, I have wonderful neighbors who help each other out, I have the best dog in the world by my side, good friends, and my family, while they have their issues, is not the s**t-show that I hear about other people's families.

 

Somebody had to say it :-)

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Not according to Dame Suze Orman. I can’t even afford to retire! ? High ho it's off to work I go!

 

 

Ms. Orman is rich.

 

However, has a few skeletons in her closet (from years ago) that helped her get rich.

 

Despite those skeletons, she has helped many with frequent good advice.

 

Two of her work-products ended up in court.

 

She continues her popularity.

 

She amassed a nice nest egg of more than ten million dollars. She is married to her female assistant.

 

Her bachelor's degree is in social work, a field unrelated to finance.

 

https://www.forbes.com/2009/05/16/fraud-long-term-care-insurance-personal-finance-suze-orman-sued.html#4a90a4a11e57

 

https://www.goodfinancialcents.com/suze-orman-bad-advice/

Edited by coriolis888
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You don't have to be rich to engage those services if you are willing to forego other things. For example, my father smoked two packs of cigarettes a day, I don't smoke at all. At today's cigarette prices in my state that "saves" over $5000 a year.

There are a million little things people spend money on without thinking that add up to quite a bit if you have a decent-but-not-great job.

But that doesn't mean you don't have to think about the money.

(Now there ARE some people on this forum who are quite well-to-do, but it's by no means all of us.)

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Ms. Orman is rich.

 

However, has a few skeletons in her closet (from years ago) that helped her get rich.

 

Despite those skeletons, she has helped many with frequent good advice.

 

Two of her work-products ended up in court.

 

She continues her popularity.

 

She amassed a nice nest egg of more than ten million dollars. She is married to her female assistant.

 

Her bachelor's degree is in social work, a field unrelated to finance.

 

https://www.forbes.com/2009/05/16/fraud-long-term-care-insurance-personal-finance-suze-orman-sued.html#4a90a4a11e57

 

https://www.goodfinancialcents.com/suze-orman-bad-advice/

Suze Orman's advice is for people who don't have the inclination or the aptitude to really delve into finance. So she gives broad rules to follow and doesn't deal with the exceptions. It's fine for joe blow, but people who make real money would do well to move on from her.

 

Like she says never buy whole life insurance, but there are in fact situations where it makes sense due to tax considerations. But if you are in that situation, you are too rich to be listening to her in the first place. Her advice is geared to the person with an okay job, some student loans, and a credit card balance or three who can't seem to get it together to sign up to contribute to their 401(k).

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There was a thread awhile back talking about if their cleaning lady still comes due to the virus. I was surprised about how many gay or bi men on this forum have cleaners or maid services. I always thought that was for wealthy men in big houses with wives and kids who don’t want to do housework.

Although I could certainly afford help, I’ve always preferred cleaning my house myself. I just washed my car. I find cleaning therapeutic.

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