# How wealthy are you.....really?



## Vivjen

According to Credit Suisee, the wealthiest 1% of people in the world have assets of $798000, or £530000.

this doesn't seem a lot to me; how about you.

www.bbc.co.uk/news/magazine-30949796


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## hollydolly

It's not very much in Dollars VJ I agree ..not for the wealthiest 1% anyway.


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## QuickSilver

I think that if you think about the fact that there are 7 billion people in the world and 50% of them live on less than $2.50 a day, that figure is correct and believable.   If you would only take the US and the UK... that net worth would be much higher.

http://www.statisticbrain.com/world-poverty-statistics/


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## Josiah

I find the dollar figure really hard to believe. I find it very hard to believe that I'm a one percenter.


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## ronaldj

my wealth is endless.....have five wonderful  children all happy and working and married and have twelve grandchildren who like to visit and spend time with us and play games and do puzzles and all live with in an hour ......all in different direction but less than an hour from us.....as well we see or talk to them each week and one child/four grandchildren live next door so we see/talk to them most every day...........oh you were talking about money, we are not starving and owe no man anything...well don't count taxes and electrify and gas and phone and insurance and and and and and


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## Vivjen

Link should work now.....yes; interesting stats....


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## ronaldj

ok read the link, made the top fifty percent and the ten but not the one.....but I'm still not hungry...


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## Ken N Tx

ronaldj said:


> my wealth is endless.....have five wonderful  children all happy and working and married and have twelve grandchildren who like to visit and spend time with us and play games and do puzzles and all live with in an hour ......all in different direction but less than an hour from us.....as well we see or talk to them each week and one child/four grandchildren live next door so we see/talk to them most every day...........oh you were talking about money, we are not starving and owe no man anything...well don't count taxes and electrify and gas and phone and insurance and and and and and


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## hollydolly

I just want to be in the top 50% that'll do me...


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## flowerchild

I'm living within my means, so I must wealthy.


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## QuickSilver

If you really think about it... One Million dollars of net worth is not all that unusual..  Professionals like doctors and lawyers are certainly in that catagory.  You have to consider that includes the house and personal property as well as savings and investments.


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## Vivjen

Quite so, QS, what concerns me is how little you need.
i knew there was a growing gap between the haves, and have-nots; I have noticed it in UK; but that gap is obviously increasing everywhere.


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## ClassicRockr

In 2004, co-workers at my last job, thought wife and I were wealthy bc we had a power boat and lived in a nice area south of Denver, CO. Only thing was, our boat was a 1992.......definitely not a new one! The area where our house was definitely wasn't the "wealthiest", that was north of us in an area called Highlands Ranch. Doctors, lawyers and the such lived there. 

Today, still not "wealthy", even though we still own a power boat and live in a nice area.

But, for awhile, would *LOVE *to know what being wealthy would be like!


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## Ken N Tx

ClassicRockr said:


> In 2004, co-workers at my last job, thought wife and I were wealthy bc we had a power boat and lived in a nice area south of Denver, CO. Only thing was, our boat was a 1992.......definitely not a new one! The area where our house was definitely wasn't the "wealthiest", that was north of us in an area called Highlands Ranch. Doctors, lawyers and the such lived there.
> 
> Today, still not "wealthy", even though we still own a power boat and live in a nice area.
> 
> But, for awhile, would *LOVE *to know what being wealthy would be like!


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## QuickSilver

There is wealthy..... and there is WEALTHY.   If you have a net worth around that amount, but you are going to use it to live in retirement and not support an exorbitant lifestyle.,,then I would think you are comfortable.   BUT if you have enough money that you can blow on whatever catches your fancy, like yachts and car elevators,  then I think that qualifies as being rich.


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## Josiah

My wife's nursing home costs $220/day. Believe me that adds up when you're paying for it not Medicaid.


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## WhatInThe

Wealth is relevant. Possessing "wealth" is not a bad or good thing. There are responsibilities that come with "wealth" including just managing your money and paying taxes. The people that could successfully manage money is surprising low. Look at all the lottery winners that wind up broke. It takes effort not to go broke.

There is too much "wealth" envy simply because someone has more,not even a lot but more. What's mine is not yours. 

Some might have a wealth of health, knowledge, experience etc, it's not just money. Wealth is an accumulation. Keeping that pile is the trick.


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## Falcon

A million $$$ today is about what $10,000 was 20 years ago.

I'm all paid up and comfy.


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## AZ Jim

Count me among the poor.:sosad: But I get by (barely)


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## Pam

Got no diamonds, got no pearls,
Still I think I'm a lucky girl,
I've got the sun in the morning and the moon at night .......


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## rkunsaw

The democrats want to spread it out so that everyone has the same amount no matter who earned it.


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## Capt Lightning

It's all very well having assets, but that doesn't equate to having money in your pocket.  Many of us here in the UK have pension funds worth a substantial amount.  Then there's personal possessions and savings, equity on house etc..  All that can add up to enough to put you in that 1%,  but you still can't afford a life of luxury.


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## hollydolly

Sooo true Cpt lightening.


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## SeaBreeze

What it takes to be in the top 1% state by state.http://www.huffingtonpost.com/2015/01/26/1-percent-in-each-state-map_n_6548222.html




> What does it take to make it into the 1 percent of earners? In Arkansas, you'd need to pull in $228,298 a year. In Connecticut, the threshold is $677,608.That's according to a report released Monday by the Economic Policy Institute, examining income inequality by state.
> Connecticut -- the state with the highest 1 percent threshold -- happens to also be the state with the worst inequality. There, the top 1 percent of earners make on average about 51 times as much as the bottom 99 percent of earners. At the other end of the spectrum, EPI found that Hawaii has the smallest gap between the 1 percent and the 99 percent, and that the state's richest make only 14.6 times as much as everybody else. In Hawaii, you have to earn $278,718 to be in the top 1 percent.


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## WindnSea

If you have 4 walls and a roof, food on the table, than you are richer than you think.


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## Ameriscot

I feel rich as I've seen lots of dirt poor people.

It's all about priorities to us.  We could buy a new car since ours is 12 years old, or spend the winter in Thailand. The car runs just fine.  Thailand wins.


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## Pappy

We arent wealthy by any means, but get by and enjoy what we have. And, Thank God my kids will never need our help. They have all done very well. :sentimental:


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## Bullie76

QuickSilver said:


> There is wealthy..... and there is WEALTHY.   If you have a net worth around that amount, but you are going to use it to live in retirement and not support an exorbitant lifestyle.,,then I would think you are comfortable.   BUT if you have enough money that you can blow on whatever catches your fancy, like yachts and car elevators,  then I think that qualifies as being rich.


Agree. I may be financially independent, but I don't feel wealthy even though Im in the 1% bracket. I can't go buy a big yacht. Maybe a small bass boat.


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## Josiah

At least for the past forty years I've felt a stern obligation to save for my old age. Fortunately I've remained alive long enough to have an old age.


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## jujube

As long as what's going out is less than what's coming in and I don't have to dip into my capital, I consider myself perhaps not "wealthy" but definitely "comfortable".


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## AZ Jim

A question better suiting me would be "How poor are you, really?"


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## hollydolly

Go on then Jim....How poor are you really?...seriously, why not turn this thread on it's head?...there has to be folks on here who struggle financially  so let's here from you all , lets not presume everyone on this forum are wealthy folks cuz it can't be so surely?


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## AZ Jim

Holly,  I am not really "poor" but with my pension and social security (and wifes SS) we get by.  We can't afford to throw money away but we have everything we need.  I worry for the REALLY poor!!!!


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## Ameriscot

AZ Jim said:


> Holly,  I am not really "poor" but with my pension and social security (and wifes SS) we get by.  We can't afford to throw money away but we have everything we need.  I worry for the REALLY poor!!!!



I was poor for a good part of my adult life, being poor and old would be worse!


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## hollydolly

Well I'm glad you're not on your uppers Jim,  and I'm the same as you AS..poor for the best part of my life, so what I have now I'm very grateful for, good enough to get by thank the lord, no worries about how to pay the next bill, and please God it always continues. As you say Poor is awful but old and poor has to be the worst, with no opportunity to be able to earn any money to improve finances.

However I still believe that there could be many people on this forum who read threads like this and think ...well lookee at those folks bragging about their expensive holidays and properties etc... while they are struggling to pay the next Bill... so I hope if anyone is having a hard time financially that they would feel comfortable posting here


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## Vivjen

The original post was meant to show that none of us on here are really poor; in world-wide terms....
i know that some people on here will be struggling; but not in absolute terms.....
I was shocked to find that I was so wealthy in world terms...it doesn't always feel like it!


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## ClassicRockr

Yes, some folks can act/be very modest/low-key about their wealth. We know a couple who are both retired. The husband gets SS and a nice Pension from Ford Motor Company and his wife only gets SS. They have two homes, FL and Mich., and a lake cottage in Mich.. They have four boats: pontoon, ski, sail and cuddy cabin type. Hardly ever eat at home and have friends who have the kind of money they do. They act very modest about the money they have, but we KNOW they sure aren't poor by any degree of the word. 

Some folks in our age bracket don't have to pay rent, if renting a home from a relative or pay mortgage because the house is fully paid for. If they had to pay rent or mortgage, they might be "sweating" the money thing as well.


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## jujube

View attachment 14691


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## Ina

:lol1:  I love it Jujube.


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## Butterfly

Well, I'm certainly not rich, by any means.  BUT, I have enough to have a roof, food, medical care, etc., and to take care of my doggies and have a little left over to help out my sister sometimes.  That's all I really need.


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## AZ Jim

I have enough to get by monthly but I do have a savings account.  That is a must for old folks.


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## QuickSilver

I have always lived beneath my means in order to save for a comfortable retirement.. so I have never had a luxury car or a huge new home..  In return for that I am now in pretty good shape for retirement... if only I could decide when.


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## Ameriscot

hollydolly said:


> Well I'm glad you're not on your uppers Jim,  and I'm the same as you AS..poor for the best part of my life, so what I have now I'm very grateful for, good enough to get by thank the lord, no worries about how to pay the next bill, and please God it always continues. As you say Poor is awful but old and poor has to be the worst, with no opportunity to be able to earn any money to improve finances.
> 
> However I still believe that there could be many people on this forum who read threads like this and think ...well lookee at those folks bragging about their expensive holidays and properties etc... while they are struggling to pay the next Bill... so I hope if anyone is having a hard time financially that they would feel comfortable posting here



I feel very badly for seniors who struggle as that easily could have been me, as I struggled for years.  I didn't even leave the US until I was 46, so travel is something I've only done for the last 17 years, and except for the first two trips that's thanks to my hard-working husband. Many of my friends on FB who can't travel tell me they enjoy following my travels and learning about new places.


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## AZ Jim

QuickSilver said:


> I have always lived beneath my means in order to save for a comfortable retirement.. so I have never had a luxury car or a huge new home..  In return for that I am now in pretty good shape for retirement... if only I could decide when.



As long as you have no plans that require you to quit and you still enjoy, why quit?  On the other hand if ya did, you could play here more.


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## QuickSilver

AZ Jim said:


> As long as you have no plans that require you to quit and you still enjoy, why quit?  On the other hand if ya did, you could play here more.



Therein lies the conumdrum.....  I have no idea what "play" I'm interested in.  I've worked all my life..


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## Ameriscot

QuickSilver said:


> Therein lies the conumdrum.....  I have no idea what "play" I'm interested in.  I've worked all my life..



My sister who had been widowed in her 40's and was a teacher was worried she'd be bored in retirement.  But the decision was made for her when her state's teacher's retirement plan was about to lower the pension amounts.  So she retired at 60.  She kept telling us she loved her job and she had no hobbies and didn't like doing crafts.  Well, she hasn't been bored at all since she retired and it's been nearly 5 years. 

You might be surprised to discover something you've always wanted to do or learn, read about, etc.


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## AZ Jim

QuickSilver said:


> Therein lies the conumdrum.....  I have no idea what "play" I'm interested in.  I've worked all my life..



Don't fall into the trap of others thinking when it comes to "what to do with your time".  See, this is where simple things went.  People feel now if you are not into some time consuming activity when you retire, you'll simply "rot on the vine".  Not true.  I retired in 1991 and haven't had any common "activities" since.  I feel no guilt in sitting on my patio reading, or just thinking, cruising the computer, puttering in the garage, etc.  Nothing exciting and it hasn't killed me yet, nor have I lost my ability to function.  I think, for instance just the things you can learn online keeps your mind somewhat sharp.  Let days happen..take care of yourself but you need not "work" at retirement.  RELAX.


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## Ameriscot

Good advice, Jim.  Just get up and decide what you want to do with your day.


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## hollydolly

So AS what did your sister end up doing in the end to fill her time?


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## Josiah

AZ Jim said:


> Don't fall into the trap of others thinking when it comes to "what to do with your time".  See, this is where simple things went.  People feel now if you are not into some time consuming activity when you retire, you'll simply "rot on the vine".  Not true.  I retired in 1991 and haven't had any common "activities" since.  I feel no guilt in sitting on my patio reading, or just thinking, cruising the computer, puttering in the garage, etc.  Nothing exciting and it hasn't killed me yet, nor have I lost my ability to function.  I think, for instance just the things you can learn online keeps your mind somewhat sharp.  Let days happen..take care of yourself but you need not "work" at retirement.  RELAX.



I really need to cultivate your approach towards life, Jim. I feel acutely guilty if I'm not pursuing some worthwhile endeavor.


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## Ameriscot

hollydolly said:


> So AS what did your sister end up doing in the end to fill her time?



She reads, bought a new sewing machine that embroiders and has fun with that, she has 3 kids and 5 grandkids who all live within 20 miles, so occasional babysitting, she lunches with other retired ladies, spends time with family and extended family, goes to plays, goes to yoga, fitness classes, shopping, etc.  She also has us stay at her house 2 weeks a year, and this time we're also going to New England.  She spends a month here, usually every other year.


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## hollydolly

Sounds like she's having a Ball...I was interested because you said she wasn't into crafts or anything ( like me)..and sewing is definitely something I wouldn't have the patience to do, nor have I any Grandchildren...

Btw Young  Mistress of the typo I presume you meant she lunches  WITH other retirees..


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## Vivjen

Perhaps she prefers lunching alone!


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## AZ Jim

Josiah09 said:


> I really need to cultivate your approach towards life, Jim. I feel acutely guilty if I'm not pursuing some *worthwhile endeavor*.



I guess Josh...it all comes down to definitions.  Is feeding dozens of species of birds, sitting and chatting with a neighbor, watching water rush through a creek, lying back in the warm sunshine and "thinking", Playing recordings of old time radio shows to nursing home residents, tending the citrus trees and many other "little things" worthwhile?  If so, I am doing them.


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## Ameriscot

hollydolly said:


> Sounds like she's having a Ball...I was interested because you said she wasn't into crafts or anything ( like me)..and sewing is definitely something I wouldn't have the patience to do, nor have I any Grandchildren...
> 
> Btw Young  Mistress of the typo I presume you meant she lunches  WITH other retirees..



Haha!  I like that title 'mistress of the typos'!  Got to proofread. 

I have plenty to do, even with grandchildren being 4,000 miles away.  I don't do crafts either.


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## Ameriscot

Vivjen said:


> Perhaps she prefers lunching alone!



Okay okay!!


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## Ameriscot

And for retirees, there is also volunteering.  First thing we did was spend two years in Uganda and it was well worth it!


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## AZ Jim

AS you're doin it right.  Live.....just that...get up in the morning and live......


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## Ameriscot

AZ Jim said:


> AS you're doin it right.  Live.....just that...get up in the morning and live......



Oh, we are.  See the world.  Adventure. Right now.  Go go go. As long as the health and the mind (well, most of it anyway) hold out, do it.


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## Josiah

AZ Jim said:


> I guess Josh...it all comes down to definitions.  Is feeding dozens of species of birds, sitting and chatting with a neighbor, watching water rush through a creek, lying back in the warm sunshine and "thinking", Playing recordings of old time radio shows to nursing home residents, tending the citrus trees and many other "little things" worthwhile?  If so, I am doing them.



Jim, you seem to engage in plenty of worthwhile endeavors, what's missing in your life is the guilt that's endemic in mine. I also suspect you're a lot better organized than moi.


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## hollydolly

Josiah I have to say I'm similar to you..I do feel guilty if I'm not doing something. It's hard at the moment because I've got time off work while I wait for the back surgery and I can think of a zillion things I could be doing, and even tho' I can't do them it doesn't stop me feeling absolute guilt that I haven't achieved any of them particularly as I have the time..but just not the ability currently..


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## AZ Jim

Josh, I am not organized.  We are together there.  I guess one could say I am lazy.  I just enjoy not waiting for orders from someone or giving them to others.  I enjoy, letting life happen.

Holly, Bless you darling, you just need to learn to be idol.  It is easy if you try.  Read something you want to read while enjoying  a beautiful day outside, breathe......


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