<p>I don’t CARE what someone else does with their money, Busdriver. They can spend it how they like and they needn’t justify one penny to me. But I also don’t have to show sympathy for a big spender who is now griping at the cost of college. That’s what it is - it’s not a surprise. </p>
<p>“Doct, love your post.”</p>
<p>Me too. That post says it all for most of us.</p>
<p>Just read the title of the thread again. It is “Why So Many Rich People Don’t Feel Very Rich?” </p>
<p>Are all the people here participating consider themselves “rich” or just guessing? I know I am only guessing. </p>
<p>*M"Doct, love your post."</p>
<p>Me too. That post says it all for most of us.
*
My husband ( despite his eating habits) probably has at least another 20 years.
I don’t want to think of him struggling with his care. But I also want to do things that I might not be able to do in 5 or 10 years.
We havent ever taken a vacation that was a full week long, and only occasionally gone out of state.( I don’t count travel time)
Once my youngest gets a job that will enable her to pay back her school loans, I’d like to have a honeymoon.
:)</p>
<p>I am not sure if it’s a clear cut. Aren’t we already talking about forgiving student loans? I am sure there are really deserving people whose loan should be forgiven. I am also sure there are some whose loans shouldn’t be forgiven but will be forgiven since $200K/yr is not enough. The attitude also creates cultural pressure that we all help out everyone’s new normal expectation like private school education.</p>
<p>"I hear stories like the guy who lives in a $3 million home and his business crumbled. He hasn’t paid his mortgage for 6 years yet he hadn’t been kicked out of his house. He also lived in the house for many years previously. Even when his business was going well, he could not afford that house.</p>
<p>Still, he has lived in a $3 million house with views of SF and the Golden Gate Bridge for maybe 10 years. Not too many people get to do that and for him, that is what he wanted in life."</p>
<p>I don’t see that as some inspirational story at all. So he’s not paying a debt that he incurred to do something he wanted to do. That’s called freeloading. I don’t find it cute at all that he got to live in this grand house and enjoy nice views. That’s about as un-cute as stealing a diamond ring because you always wanted to wear a pretty diamond ring. </p>
<p>I’m perplexed why you even posted this story, to be honest. We all have things we want to do, but if we can’t afford them, we don’t do them. </p>
<p>“I don’t CARE what someone else does with their money, Busdriver. They can spend it how they like and they needn’t justify one penny to me. But I also don’t have to show sympathy for a big spender who is now griping at the cost of college. That’s what it is - it’s not a surprise.”</p>
<p>And I suspect that most of those big spenders you’re talking about don’t care about whether you show sympathy or not. I doubt most people who gripe about the cost of college are looking for sympathy. It’s just a fact, college is too expensive. Saying that it’s not affordable, and that it’s too expensive doesn’t sound like griping to me, it’s merely the truth. Tuition has risen far higher than the rate of inflation. And people at most income levels, at most schools, public or private, are not paying it easily.</p>
<p>“And then, there is cultural pressure that we should all help out to facilitate everyone get a private school education”</p>
<p>Where does this happen? You’re mistaking upper middle class northeast norms for “everywhere.” In vast swathes of the country, people are perfectly happy to send their kids to state flagships. </p>
<p>I wanted to send my kids to private, elite schools for a whole host of reasons, but not due to "cultural pressure.’
I do look down on people who use the lame excuse of “cultural pressure” to spend money they don’t have. </p>
<p>busdriver, if your point is that everyone has the right to complain about whatever they want, fine. It IS true that college tuition has outpaced the rate of inflation and that wages have stagnated.</p>
<p>But it isn’t true that private college hasn’t always been expensive. My dad still grumbles about how much it cost him to put me through Northwestern. It was expensive, even back then. And my family was not wealthy enough to absorb the cost easily. My mom went back to work when I started because of the big chunk it took out of their savings.</p>
<p>My loved one has not qualified for Roth IRAs for most of his career because he and his wife earn way too much. He still always pleads poverty when we are all pitching in to try to pay for a group gift for our parents for a special 90th Bday, even after receiving an unexpected check of 5 figures, which he says is already spent because he has college, tuition and other expenses–taking digs at the rest of us who have quietly borne these expenses. </p>
<p>He and his W always have late model nice cars and rarely ever cook–always dine out or bring home takeout. I can’t muster any sympathy for him and his spouse for the choices they have made and continue to make, but do feel for their kids for never learning about economizing and deferred gratification. </p>
<p>I’m 63 and would retire right now except that I have 1 big bucket list trip left. I’ve been to all the continents, most of them multiple times except for one. Unfortunately, my wife is a school adminstrator and can’t take a winter off which is when the trip would have to be scheduled. When I told somebody I work with that I’m working to take big trips, they said that’s why you retire, to take those trips. First of all, a lot of people I know who are retired are afraid to spend their fixed incomes on very expensive trips which is completely understandable because I would be the same way. Secondly, when you’re older, some things just become too difficult to do. This past summer, I had the opportunity to go rafting down the Zambezi river (instead we just took a cruise above the falls). I chickened out, probably rightly so as it can be very physically demanding unless you are young and in good shape.</p>
<p>Pizzagirl, I did not say the story was inspirational. People are different and make different choices. </p>
<p>Some people won’t spend unless they can afford it while others act differently. I am a saver . My way is the best way for me. My way may not be the best way for the guy up the hill.</p>
<p>Somebody I know is risking his whole net worth to make $100 million. I wouldn’t do it. I am not him though.
My sister is remodeling her kitchen. I was in the financial business. I think what are you doing? You should not be doing that. I wouldn’t do that. </p>
<p>But then I look at her. I try to take myself out of it the best I can. My sister is disabled. Her husband has liver disease. Her son has issues. </p>
<p>Yeah… The kitchen may not be affordable. She is in her 50’s. Her money is probably going to run out in 20 years. There is a very good chance she isn’t going to make it 20 years. The kitchen gives her pleasure. A little pleasure in life is good. </p>
<p>You don’t have to have sympathy. I don’t have much sympathy myself. 
I don’t want to be negative.</p>
<p>We are all going to end up in the same place. Pretty soon too. So, if somebody wants a little enjoyment…</p>
<p>You can think what you want pizzagirl. We don’t have to agree. There are many ways to live a life. Sometimes I don’t agree with myself. :)</p>
<p>That’s one reason I’ve really gotten onto a fitness bandwagon - so I can be healthy and vital in my old age! </p>
<p>Well some of us were given “not much time to live,” by our docs but are still active and busy over 15 years later. So glad we didn’t decide to spend it all and end up living in poverty. </p>
<p>Save vs spend is a very individual choice, but not fun when choices made by others have them seeking handouts from us in the future. </p>
<p>Well…we are giving Steve Ballmer a $1 billion handout so he can buy a basketball team. That kind of bugs me. </p>
<p>I’m a saver. I think some savers still lose it all. It happens. I’ve seen it. </p>
<p><a href=“Ballmer could net $1 billion in tax credits from Clippers deal | Fortune”>http://fortune.com/2014/10/27/steve-ballmer-nba-tax/</a></p>
<p>"Former Microsoft MSFT -0.04% Chief Executive Steve Ballmer could claim as much as $1 billion in tax benefits from his purchase of the Los Angeles Clippers, which is half of what he paid for the NBA franchise earlier this year.</p>
<p>An analysis of U.S. tax laws complied by The Financial Times found that Ballmer could claim about half of the purchase price in current terms over the next 15 years against his taxable income. Those credits could be claimed under an aspect of the tax code covering so-called active owners of sports franchises, the Financial Times said."</p>
<p>Ridiculous.</p>
<p>I still can’t get over the benefits the NFL gains from being a " non profit".
I was talking to a local glass artist yesterday, who made some pieces that the Made in Washington stores had been selling.
Obviously handmade, not high volume. But they were blue and green ( Seahawks), which the NFL informed him that they owned, and also some of the pieces had the number 12 on them, which the NFL also owns.
So since our baseball team and our soccer team also have blue and green colors, does that mean they are going to get letters from the NFL lawyers too?</p>
<p>Second that. ridiculous! Now I see why billionaires were so into sports. </p>