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Are YOU rich>? What IS rich?

This is a discussion on Are YOU rich>? What IS rich? within the General Off Topic Discussion forums, part of the Life Beyond Horses category

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        08-13-2012, 08:44 AM
      #11
    Showing
    My wealth is in the form of two horses that I can afford to provide good care. I was raised to be frugal so the bank account has a 6 month survival buffer. I wonder how many people could survive for 6 mos. If there was a sudden job loss. My place is paid for and I have everything I need and some stuff that needs to go. My saddle work provides extra income which I really don't need but I do enjoy the work.
         
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        08-13-2012, 02:26 PM
      #12
    Banned
    Quote:
    Originally Posted by Saddlebag    
    My place is paid for
    Mind if I ask how old you are? Not exactly, just 30s, 40s etc.


    Back to the original topic....
    I think there is a difference between being 'comfortable' and being 'rich'.
    To me being comfortable is paying your bills on time, being able to afford your expenses. Being rich is having oodles of money sitting there despite reasonable spending.
    Hidalgo13 and mtngrl7500 like this.
         
        08-13-2012, 02:29 PM
      #13
    Super Moderator
    According to my kid, everyone IN THE WORLD is richer than us. We are poor and live in a small house....

    According to my kids friends... We are the richest people IN THE WORLD because we have horses...

    According to my husband... We are on the verge of bankruptcy...

    According to me.... We are so poor the ants won't even pilfer our crumbs...
         
        08-13-2012, 05:13 PM
      #14
    Showing
    Hey FP, I can give you all my ants. For free! We usually have lots of them in summer, but this summer it's just horrid!
         
        08-13-2012, 05:35 PM
      #15
    Yearling
    Rich is not an income

    It is an attitude.

    I have friends that are dirt poor. They live check to check and eat mostly what they can grow and catch. They are not advanced degree educated, work in menial service positions, but, they are the happiest people I know.

    I have friends that have a family income of $350+k. They have a 5000 sq ft home on over 100 acres. Maid service, new cars every 2 years, and travel the world.

    They are the most miserable people I know.

    Plus, a family with an income of $150k can be just as poor as a family of $60k if the higher income is strapped with mortgage, car payments, credit debt, and school loans.

    I used to judge wealth by gross income. Now I judge it by net income. Someone with a $250k income but is over his/her head in debt in not rich. Stoopid, maybe. But not rich.

    I would rather be poor with a good attitude than wealthy with a poor attitude!
         
        08-13-2012, 05:37 PM
      #16
    Green Broke
    Define rich? Cash rich? Asset rich? Emotionaly rich?

    I would concider myself as coming from a wealthy background but we are not "rich"
    My mum owns 2 businesses worth in excess of 6mil if sold tommorow and an annual turnover of close on 2mil, my dad used to work in electronice R&D untill he retired early
    My parents put 3 kids through boarding school (in UK) and by the time I was 15 I had 4 top class ponies. We were also put through university.
    We have a house in the country with land and stables worth 500,000 and my mum is looking at buying me a house up here.

    However compaired to my friends we were one of the least well off.
         
        08-13-2012, 05:54 PM
      #17
    Showing
    I agree with others, it's very much relative. Am I rich? Nope, not in my eyes. My hubby & I make a decent living, higher than most people our age (at least in my area). I can say though that my only debt is my car, that includes the farm, truck, trailer - and no credit cards :) That makes life a little more comfortable.

    As far as what is rich? The only answer I can give is, I don't know and I'm probably not going to find out - I have way too many horses for that to ever happen
         
        08-13-2012, 05:59 PM
      #18
    Trained
    Quote:
    Originally Posted by MHFoundation Quarters    
    As far as what is rich? The only answer I can give is, I don't know and I'm probably not going to find out - I have way too many horses for that to ever happen
    Ah...but Mandy...when I look at your avatar of Morgan and Honor, I'd say you were rich.

    For me, it is all relative to what rich means to you. Emotionally, spiritually, monetarily, whatever-ily.
         
        08-13-2012, 06:02 PM
      #19
    Showing
    Quote:
    Originally Posted by Jake and Dai    
    Ah...but Mandy...when I look at your avatar of Morgan and Honor, I'd say you were rich.

    For me, it is all relative to what rich means to you. Emotionally, spiritually, monetarily, whatever-ily.
    So very, very true Lori. I AM rich in that respect. I have an amazing hubby and a smart, polite beautiful little girl, good friends, family, and a job that I absolutely love. Life is pretty darn good
         
        08-13-2012, 06:20 PM
      #20
    Teen Forum Moderator
    Money wise? No, my family is not rich at all. In fact, compared to all of my friends who's parents earn anywhere from 100-200k a year, I'm rediculously poor. My father makes about 60k a year, and that is what we live on. We have five people in my family.

    We can afford food, our house, and a car without a problem, but we do not have extra money. I get a few pairs of new clothes (mostly polos for school) every year, and a pair of shoes. Anything else that I want during the year, be it boots, riding clothes, or something else, has to be bought by my own means. We can't go on fancy vacations (if we even go on vacation at all), we don't have nice cars, our house is a little three bedroom 1,000 sq foot home, and I can't go to the movies and stuff with my friends. My parents will not be able to pay for even a cent of my college or board when I leave home in two years. We lived beyond our means up until about three years ago when our debt overwhelmed us, and we are still suffering from that. To a lot of people that is 'poor' I guess.

    However, I don't see myself as poor. Yes, I have had to learn to be a 'penny pincher,' but I don't really see that as a bad thing. I have a much more realistic view of my world than all of my friends do, and I am already taking free classes and watching others closely to develope a plan to get myself through college as cheaply as possible and to get out of debt and stay debt free as soon as possible once I've graduated. Sometimes I do feel a little bummed out when I can't go places with my friends to buy new clothes for school or catch the latest movie, but I've learned that thrift stores are my friends and that you can get just about anything that you want if you're willing to put in a little work.

    A few examples. This year, I wanted to go to a $250 trip for a week with my church, but I couldn't afford it. After talking with my youth pastor about the situation for about 15 minutes, I had arranged for an almost free ride ($50) in return for painting a large mural in our church because I am gifted in art.

    I cannot afford a horse, so I found a farm that would take me in and, in return for working there 20-30 hours a week, I am allowed to ride whenever I want to and I half lease a little'oroblem' mare. They taught me to care for, ride, and train horses...all for no material cost. And the list goes on. I am never without something that I need and very often I can find a way to get things that I really want. It just takes a little sacrifice.

    So am I a bit poor as far as money goes? Sure. But I believe that I am getting priceless knowledge because of it, and I would not trade my happy, full life for any $300k lifestyle of tennis, fancy clothes/house/horses, and everything in the palm of my hand.
         

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