Misinformation about wealthy/financially comfortable people

allthingsblue

Sat, May 08 2021, 10:54 pm

mommy3b2c wrote:

So $1,000,000 a year is not wealthy? 😂😂

It is. It's definitely comfortable. But with frum lifestyle and insane taxes (thank you Biden!) it is not as wealthy as it seems...

mommy3b2c

Sat, May 08 2021, 11:07 pm

allthingsblue wrote:

It is. It's definitely comfortable. But with frum lifestyle and insane taxes (thank you Biden!) it is not as wealthy as it seems...

Absolutely, but my income is way less than that and we are comfortable enough. $1,000,000 is wealthy. Quite wealthy. It’s obviously a lot less than $25,000,000 a year. There’s all different kinds of comfortable and all different kinds of wealthy.

allthingsblue

Sat, May 08 2021, 11:12 pm

mommy3b2c wrote:

True.
It's all subjective.

amother

Gold

Sat, May 08 2021, 11:16 pm

allthingsblue wrote:

It is. It's definitely comfortable. But with frum lifestyle and insane taxes (thank you Biden!) it is not as wealthy as it seems...

Biden hasn't signed any tax bills..

amother

Lime

Sat, May 08 2021, 11:26 pm

mommy3b2c wrote:

So $1,000,000 a year is not wealthy? 😂😂

$1 million a year for many years is wealthy.
After the first year not so much....

My opinion obviously, everyone can have their own.
But you need to have assets first, like at least 1 house, car etc. and that can eat up the $1M in a second.
If you continuously make that amt, then you can build up your assets enough, and live a wealthy life.

amother

Lime

Sat, May 08 2021, 11:30 pm

mommy3b2c wrote:

In my mind there is a huge gap between comfortable and wealthy.

But again, it all depends for how long you have been earning x amount of money, and what you’ve saved up, invested in, and what your assets are.

Our income has increased significantly in the past 2 years, Bh.
If we would have been making this amount for 10 years, then we would be wealthy, but at this point we are more like comfortable.
We are building our portfolio etc.

amother

Violet

Sat, May 08 2021, 11:32 pm

Do you go away every Yom Tov

How much cleaning help do you have
Live-in?

Do you have a nanny? Live in?

Personal cook?

These are things I believe wealthy families would have.

amother

Lime

Sat, May 08 2021, 11:37 pm

amother [ Violet ] wrote:

Do you go away every Yom Tov

How much cleaning help do you have
Live-in?

Do you have a nanny? Live in?

Personal cook?

These are things I believe wealthy families would have.

Not really wealthy, so can’t answer.
What do you believe wealthy people earn?

amother

Babyblue

Sat, May 08 2021, 11:40 pm

amother [ Violet ] wrote:

Do you go away every Yom Tov

How much cleaning help do you have
Live-in?

Do you have a nanny? Live in?

Personal cook?

These are things I believe wealthy families would have.

It's really a personal preference. Many wealthy people I know don't have these things although they could easily afford it.
I wouldn't want any live-ins in my home no matter what I can afford. I wouldn't want to go away every yom tov; I'd rather have a vacation home in Israel and maybe also Orlando and go there every yom tov and hire a chef or caterer.
I wouldn't want to have a personal chef all year though, because I like cooking wholesome meals for my family. I would buy as much precut veggies and fruits as I want, and all oreppped food, though, to make prep easier.

allthingsblue

Sat, May 08 2021, 11:41 pm

amother [ Gold ] wrote:

Biden hasn't signed any tax bills..

He will (I hope manchin doesn't let)

So anyone reading this thread and hoping to soon be in the $1 million a year category may find that to be a different take home amount than posters in this thread.

amother

Lime

Sat, May 08 2021, 11:44 pm

amother [ Gold ] wrote:

Biden hasn't signed any tax bills..

In an income tax calculator for NYC $1M would bring home around $500k.
Granted most people get accountants who know how to work around their income.....

amother

Sun, May 09 2021, 12:14 am

amother [ Pumpkin ] wrote:

Question for OP-
Do you realize that some people (like me) find you intimidating just because of your wealth?

I guess? Personally I was never intimidated by people based on their income so I find it hard to relate. I have friends all across the spectrum from struggling to make ends meet to wives of known multimillionaires whom people run after.

amother

Sun, May 09 2021, 12:16 am

amother [ Red ] wrote:

Do you work? If not, what do you do all day?

I don’t have a job. I’m a mommy and housewife. I take care of everything childcare and home-related as dh works round the clock.

amother

Gold

Sun, May 09 2021, 12:19 am

amother [ Lime ] wrote:

In an income tax calculator for NYC $1M would bring home around $500k.
Granted most people get accountants who know how to work around their income.....

Yes - this has nothing to do with Biden.

amother

Sun, May 09 2021, 12:20 am

amother [ Violet ] wrote:

Do you go away every Yom Tov

How much cleaning help do you have
Live-in?

Do you have a nanny? Live in?

Personal cook?

These are things I believe wealthy families would have.

We have a summer home so we spend many yomim Tovim there
3 times a week for six hours each time
No nanny I don’t have kids so other people should take care of them. I sometimes take a baby nurse after birth as needed.
No personal cook my family prefers simple food
And I would not appreciate dealing with this many people all the time

amother

Silver

Sun, May 09 2021, 12:25 am

amother [ Violet ] wrote:

Do you go away every Yom Tov

How much cleaning help do you have
Live-in?

Do you have a nanny? Live in?

Personal cook?

These are things I believe wealthy families would have.

My parents are definitely very comfortable/wealthy (depends how you define it, earn over 1 million a year). They don’t really have/do any of these things. They splurge on certain things and help out their kids plenty, but they are unassuming people who don’t give off a wealthy vibe.

amother

Sapphire

Sun, May 09 2021, 12:30 am

amother [ OP ] wrote:

I don’t have a job. I’m a mommy and housewife. I take care of everything childcare and home-related as dh works round the clock.

This question drives me crazy. Why do people assume that if you don’t work you’re bored. While I’m not going to minimize how difficult it is to work and juggle family I just don’t understand why people think if you don’t work you don’t have what to do. And in this case you had every right to ask because the OP was sort of doing an AMA. But IRL how dare people ask me what I do all day. Do you pay me? So incredibly rude. And you have no idea what is going on in anyone’s life.

amother

Sun, May 09 2021, 12:38 am

amother [ Sapphire ] wrote:

Yeah...

amother

Red

Sun, May 09 2021, 12:41 am

amother [ Sapphire ] wrote:

...So don't answer questions on this thread if you don't like questions. Seriously.

Bnei Berak 10

Sun, May 09 2021, 3:00 am

amother [ Lime ] wrote:

I definitely mention if I think something is overpriced.
Why does it hurt you if I exclaim Store x sells kids shoes for $200, OMG.

Anyone has the right to express if an item is overpriced, regardless if they are rich or poor.