wersal gummage wrote: » Wealthy couple conversation. Mr wealthy : want to spend our wealth on a three bed house in the suburbs (not affluent areas such as d3,4 or 6) and maybe have two kids, Ms wealthy : oh no, if we spend our massive wealth doing that we will have very little money left over. Mr wealthy : good point. We can't really afford to have a house and kids. I'm so glad we are so wealthy. Your logic is impressive.......
Laois6556 wrote: » They have great wealth, they then choose what to spend that great wealth on.
jobbridge4life wrote: » According to what definition? An abundant supply of something valuable is a definition of wealth?
wersal gummage wrote: » Yes because this wealthy couple had a massive pot of money accumulated, while paying high rent in Dublin. They aren't going to borrow, by way of mortgage, for the home.... Jesus. If you read the thread, I said people have massive mortgage payments. Laois person says they shouldn't spend their income servicing a mortgage or rearing children.... Keep up
jobbridge4life wrote: » Surely the assets held by the company are the more important factor, I mean you have countless loss making businesses that I wouldn't hesitate to call wealthy. (Although that adjective is not really fully appropriate to businesses). Look at Amazon for instance.
suicide_circus wrote: » It's only when I read threads like this that I realise I'm essentially destitute.
jobbridge4life wrote: » Sorry your logic is that if the convert the format of their wealth ie from cash to property it disappears? That is even more impressive.
jobbridge4life wrote: » In your opinion. Others might perceive it (the standard of living you have described) as being wealthy.
Laois6556 wrote: » You can make up number about anyone. I could make up numbers of someone earning 500,000 and how they spend their wealth and then claim they're not wealthy. Doesn't mean it's true.
tastyt wrote: » 105,000 is wealthy. Of course it is . I know that people have costs but by that argument if I have 10 million I'm not wealthy if my house is worth 9 million and I have a Ferrari and a yacht. People have these cocts because they are wealthy enough to afford them
Valetta wrote: » Again, the €105,000 is income. At what point do they become wealthy? In January, February, when? If they were both on the dole and got the jobs that paid then the €105,000 p.a., do they suddenly become wealthy, even though they don't have a cent between them?
Laois6556 wrote: » Ah they're wealthy, 105,000, come on that's a huge amount. I think 150,000 up would be classed as super-wealthy. 50,000-80,000 would be considered rich, 30,000-50,000 are middle earners and then below 30,000 are poor. My terms of description can be changed a bit and the numbers a small bit but you get the general outline.
Laois6556 wrote: » That's your definition, it doesn't match most people's definition.
Laois6556 wrote: » Maybe they could live in a smaller house? Did anyone force them to have kids?
Laois6556 wrote: » Their monthly salary is far higher than the majority. Is someone on 200,000 a year wealthy? 500,000?
One eyed Jack wrote: » Actually, that's exactly what it means. Gerry Ryan was a classic example of someone who was perceived to be wealthy, given that his annual salary was €1M, give or take a few euro. He gave all the appearances of an affluent lifestyle, yet died owing more than he owned. A person's income from employment isn't a realistic measurement of their wealth. On it's own, it tells you absolutely nothing. When you measure their current and long term assets against their total liabilities and financial obligations, you can get a better idea of how wealthy they are, how wealthy they appear to be, or indeed how impoverished they are. Essentially, 'wealthy' is a relative term that only carries any meaning when taken in the context of affordability of the person's whole lifestyle.
smash wrote: » By your logic you'd have 10 million in cash and 9.2 million in assets. That's wealth. Having 105k to last a year before tax and expenses is not wealthy. It's like talking to a wall.... You build wealth by spending money. You don't spend wealth.
Laois6556 wrote: » It is like talking to the wall. If 105k a year is not wealthy then what is 60k a year? 30k a year? Wealth is an abundance of valuable possessions or money.
Laois6556 wrote: » It is like talking to the wall. If 105k a year is not wealthy then what is 60k a year? 30k a year?Wealth is an abundance of valuable possessions or money.
twowheelsonly wrote: » That's great - by your estimation I'm rich. Combine my wifes meagre income and I'm actually wealthy!! Strangely enough it doesn't feel like that. Maybe it's because Income Tax, PRSI, USC, Pension Levy, MANDATORY pension deductions on the other side of my docket takes half my wages before I even start to pay any bills or put food on the table. It does actually.. Great suggestion, we'll all live in tiny cottages and stop breeding. Nobody forces me to pay my ESB bill, nobody forced me to buy a computer or a television. Nobody forces me to drive or even to eat. Essentially though it's called living. Genuine question @Laois6556 - What age are you and are you in the workforce yet?
Quin_Dub wrote: » People here seem to be conflating "Wealthy" with "Not Struggling" They are very different things.. A couple on €105k should be at a minimum ,comfortable. By that I mean , all the bills get paid without fuss , the kids can go to a few after school things (Sports membership fees , dancing classes , art classes or whatever) and there will typically be a few quid available for a meal out a few times a month or similar. However they will still need to be careful with their money and a few unexpected bills could have them under short/medium term pressure - A big car/house repair bill or something. They are still people who need to keep a regular eye on the bank-balance and who will have to hold off on certain expenses until they can afford them. Generally though , they are doing ok and aren't lying awake at night worrying about how to pay the mortgage. Wealthy doesn't mean "Lifestyles of the rich and famous" in my view.. For me Wealthy means that you never really bother checking your bank account , if an expense comes up you just pay it and don't need to think about if you can afford it this week or if you should wait until the end of the month. A Couple on €105k are not Wealthy.
Valetta wrote: » I don't know, because you haven't said what assets they have. Income isn't wealth.
smash wrote: » If I earn 25k a year and own my house outright with a market value of 105k am I wealthy?
Laois6556 wrote: » I am in my 30's and in the workforce and I'm comfortable earning 40,000 per year.
Frank Lee Midere wrote: » his logic is if they are worrying about not living in a "big house" then they are not rich. Jesus wept.
jimgoose wrote: » Quite so. And €105,000 p.a. is an abundance of sod-all in this part of the world! Hint: look at the definition of "abundance". :pac:
