$5 million in the bank -- rich?

[DanS]

Oh, I see that he's spending down the nest egg (or bought an annuity or whatever). Got it.

[Impaler[WrG]]

DS & KH: Your making the question a lot more complicated then it is, trying to explain how you got the 5mil and at what age and with what liabilities. The question as stated is just money in the bank for all we care someone won the lottery. As that more money then a 'middleclass' person will ever make let alone accumulate over an entire lifetime it is indeed rich by the standard of being able to live a very comfortable life without working. It doesn't make you 'Wealthy' in the Aristocratic sense of being able to endow your progeny in near perpetuity with similar levels of comfort. I think lots of people (rich people) confuse rich and wealthy and when they say large sums of money don't make you rich they really mean they don't make you wealthy. Chris Rock puts it very well "Shaq is Rich, the white guy who signs his paycheck is Wealthy!".

[KrazyHorse]

DS & KH: Your making the question a lot more complicated then it is, trying to explain how you got the 5mil and at what age and with what liabilities

No, I'm bringing up the details of how it was acquired from another thread where Dan posted them.

Please take this as an invitation to mind your own business.

[Felch]

5 million is rich. Jon Miller lives in fairy tale world if he thinks differently.

I don't think it's feasible to accumulate that much over 40 years. I think DanS's assumption that you would start socking away 31k a year is ludicrous. I put away 12% of my salary. When there's plenty of work, that comes out to about $80 a week. Right now it's less than $50.

[snoopy369]

No, I'm bringing up the details of how it was acquired from another thread where Dan posted them.

Please take this as an invitation to mind your own business.

You're simply incapable of being nice to anyone who's not kissing your ass, aren't you

[ZEE]

lol i dont even need to read the thrade to know p much every posters viewpoint, the sheer amount of ego, and the strawmen being placed across the board on this one.

Good ol' Poly

[Victor Galis]

BTW, your kids won't get any government help going to school.

If you want them to go to college/etc, I hope you are putting away at least 4k a year to pay college bills. This is probably not enough, btw.

JM

Or the could move to Quebec .

Actually, I was making more then I spent as an undergrad in Georgia too between scholarships and being a TA.

[DanS]

5 million is rich. Jon Miller lives in fairy tale world if he thinks differently.

I don't think it's feasible to accumulate that much over 40 years. I think DanS's assumption that you would start socking away 31k a year is ludicrous. I put away 12% of my salary. When there's plenty of work, that comes out to about $80 a week. Right now it's less than $50.

You may not make $60,000 a year, but lots of folks who have undergrad degrees do. And many of them are married or will become married.

Does your employer have a match?

[KrazyHorse]

You're simply incapable of being nice to anyone who's not kissing your ass, aren't you

Actually, I'm quite capable of it. I'm fairly incapable of being nice to people who annoy me with ignorance. And sometimes I'm just mean because it makes me feel good to beat up on defenseless people (i.e. 99% of the general public or 90% of Poly)

[KrazyHorse]

It's too bad you'll never earn my respect, snoopy.

Those here who have it get to see my nice side.

[DanS]

Snoopy, he's way out of your league.

Exhibit A: He got into a fistfight with himself.

[KrazyHorse]

Well, maybe I shouldn't have talked back to me.

[Felch]

You may not make $60,000 a year, but lots of folks who have undergrad degrees do. And many of them are married or will become married.

Does your employer have a match?

We used to get 3%, but I haven't seen that come in since last August.

Times are tough in construction. It's part of the cycle.

By the way, "In 2007, the median annual household income rose 1.3% to $50,233.00 according to the Census Bureau." (wikipedia)

So yeah, you're right that some individual people make 60k, but most households don't.

[The Mad Monk]

That's still higher than I thought it would be, if that's a median.

[Jon Miller]

Yeah, I remembered numbers of 40k...

JM