What would you call "good" money?

[Disneycrazymom]

With tuition going up this year everyone at school has been talking about money. One of the other mom's yesterday was pretty snotty and said to me that it souldn't matter to us since we are rich! I am so glad she told me as I was completely unaware that we are!

Anyway it just made me wonder? I always thought $150,000 yearly was good, rich far above that like in the million range. What do you think?

 

[grinningghost]

To me, $150,000 a year would be awesome. We are far from that. I'd be happy with $100,000 a year, that would be good money for me.

 

[danacara]

As a household or as an individual?

 

[castlegazer]

It totally depends on your area of the country. My family is in that range and we are definately middle class here in MA. Is MO the same as the NE? I probably don't think so. I think that is considered upper middle class. Definately not super wealthy in my mind. Comfortable, yes.

 

[The Mystery Machine]

Excluding multi millionaires, "good" money doesn't belong to creditors.

 

[castlegazer]

By the way that was a totally nasty thing for that woman to say. I am a little dumbfounded that someone would say that to another person. Anyone with a family income in that range will feel a pinch for private schooling here in th NE.

 

[Melora]

Well..I think rich means being able to afford all the stuff you need and still have plenty of money left over for stuff that you want.

Therefore being rich to one person is not the same thing as being rich to another.

I went through a time before my divorce to my ex that I was poor.. so poor I had to decide between food and utilities on a regular basis.

Now I don't have to worry about money and can take vacations a couple of times a year.. I feel rich, but only in comparison to how I used to live. I don't have a $100,000 car or multi million dollar home and even though one day I wouldn't mind having those things, I probably won't. People who can buy without asking for prices, book rooms that cost more each night then I make in a month, spend more on a kids first car than I spent on my own.... thats *rich*.

I rambling.... sorry

 

[shep]

Being rich=getting what you want(without going to extremes)
And taking 1 Disney trip a year(or at least every other year)
Oh yeah, and being able to pay everything off every month(well, except maybe the house & the vehicles)

 

[pjlla]

It's all in the eye of the beholder. I don't consider us "rich" but our bills are paid, our children are clothed, we take at least one vacation a year (usually just a car trip with family, but we have fun), we have been to WDW twice in the past three years (after saving hard for it!), I have the "luxury" of being a SAHM, and my DH just bought me a hot tub for my birthday (which I have been wanting for about 7 years). Sure, there are some things which I have wanted for a while, but don't feel like we should spend the $$ on (like a bedroom set for us), but we are doing okay.

I have a friend who probably thinks we are "rich". I know that there are months where they probably just make the mortgage and live on the credit cards a lot. There have been times when we took our kids together to McDonalds she had to bring PB&J for her kids cause she didn't have the $10 for lunch. They live in a much smaller house than me in a part of town I personally wouldn't want to live in (sorry if that sounds snobby). But she has been able to stay at home with her kids since they were babies and she is grateful for that. But I hesitate to even tell her about the hot tub because I don't want to seem like I am bragging. But she is truly my dearest friend (aside from my mother and my daughter) and I wouldn't trade her for the world!!

So it is all "perspective". My kids and DH are healthy, we are all happy and we all love each other. I consider that "rich"......P

 

[RitaZ.]

People who can buy without asking for prices, book rooms that cost more each night then I make in a month, spend more on a kids first car than I spent on my own.... thats *rich*.

I don't really agree with this... People that are well off often like to get the best prices and haggle, especially those that had to work hard to earn their money. I think if the money is given to you, it's easier to let it go.

As to the OP's question... It depends, to some people making $100K yearly would be wonderful, to others $200K a year isn't enough. It depends on the individual's lifestyle and the area in which you live. As I get older (I'm 38), I'm more discriminating. I like to get good prices, at least reasonable, and won't pay/buy something that I feel isn't worth the price or ridiculously priced. When we were younger, we were more willing to let go of our money, even if we couldn't afford it.

 

[peg2001]

Well, to be honest with you, I feel sorry for people who are making 3 to 5 (or more) times more than me and who only yearn for more. I consider myself "richer" than they are because we are content with what we have.

Peggy

 

[disykat]

I agree with everyone else that it's a matter of perspective. I also think the woman who commented to you was rude. That said, from my point of view 150K would seem pretty "rich" - simply because it's an unobtainable amount of money for us.

 

[Lisa F]

Even though $150k goes a heck of a lot further in some areas of the country than in others, honestly if you are making that much ANYWHERE you're doing pretty darn well. Personally, I think that anyone who feels like they are not doing really well on that kind of a salary will likely never be happy no matter how much money they have.

Rich is relative. Compared to a celebrity, I am poor. Compared to some social worker friends of mine (who have just as many student loans as I do for their graduate degrees) I am rich. Compared to someone who lives in a low income housing project, my social worker friends are rich. Compared to someone who is homeless, people who are fortunate enough to be in low income housing are rich. Compared to poverty stricken third world countries, even the homeless folk in the US are rich as the castoffs they find in the trash are way more than anything those people will ever own in their lives.

I don't think I will ever be truly wealthy by regular standards though. I'm much more concerned with being happy.

 

[castlegazer]

Originally posted by Lisa F
Even though $150k goes a heck of a lot further in some areas of the country than in others, honestly if you are making that much ANYWHERE you're doing pretty darn well. Personally, I think that anyone who feels like they are not doing really well on that kind of a salary will likely never be happy no matter how much money they have.

I may be making a leap here, and if I am wrong then I am with you if she meant a salary of $150K, but I think she meant a household income, and really that is not rich in the NE, it is upper middle class maybe - probably more like middle class, but it certainly still leaves a pinch and an inability to afford everything in life. You are by no means Donald Trump with a H.I. of that amount and I certainly do not think a rude person should even believe that you do not have money concerns at this level of income - especially if you have children. Its just rude to make that leap of ignorance with anyone, so I am still dumbfounded that that person would say that to her.

 

[CBRorBust]

Maybe it's because I'm a broke college student, but I think that making 60k (not combined income) and up makes you rich in my book. Even when I graduate college, I still will most likely never make that much in my profession.

 

[Disneycrazymom]

The other mom has no idea what DH makes, and never will either! In my mind I always thought that when Dh made $150 per year he would be doing pretty good. I as a teacher will never come close to that! Anyway, I believe we are doing ok and I do FEEL rich, but not in the way she ment! I just didn't know what to say to her, I was so surprised anyone would say that to me! And surprised that anyone would think it, maybe we just don't talk about having to make money choices as much as others do.

 

[s&k'smom]

LisaF you middle cat (the black one) looks exactly like my Vader who I had to put down two years ago.

OK I'm rich. I have a wonderful husband, two great kids (well most of the time) parents and siblings who support me, a nice job and every year or two I get to go to WDW. I have friends here on the Dis and rumor has it it's going to get warm here eventually in Mass. In that way I'm wealthy beyond means. We are broke, barely make it but I woulnd't change a thing. My BIL has "money" and is the most miserable person I know. There was a great article in the recent People magazine about people who won the lottery and there lives were awful!

 

[Lisa F]

"Upper middle class" is still pretty darn fortunate. I grew up in NYC and I'm currently living in a suburb of DC, both VERY high cost of living areas. We are also househunting back in NY, so I know VERY well how far dollars go there (not very far). My point is more about a sense of perspective. No, we cannot afford a $750k house (that would cost $200k in other areas of the country) but the fact that we can afford a house at all says that we are doing pretty darn well for ourselves. Someone who cannot afford a house would consider us to be rich (and there are many many many people in NYC who cannot afford a house, or even a condo/coop).

I guess I'm just a "glass is half full" kind of a gal and I think about all of the wonderful things that we can afford on our salary (which btw, is much less than $150k) that even our parents a generation ago couldn't afford even working many jobs, and I feel that we are rich in so many ways. I guess another type of person would see that they are ONLY making $150k/year and can't afford a million dollar house or a $100,000 car or to stay in the presidential suite at the grand floridian for months at a time and feel that they are not rich.

On the other hand, it is pretty rude to make a comment like what was said to the OP. My guess is that the person who said it is probably not doing too shabbily either!

s&k'smom, sorry to hear about your kitty. Bagheera showed up on our doorstep around thanksgiving and it took me exactly 5 minutes to fall in love with him. I never had a black kitty before but now I can't imagine my life without one!

 

[DukeStreetKing]

"Good" money would be any amount that allows you to live comfortably, not worry about your bills and still be able to put some away for savings, IRA's, whatever you decide to use.

 

[crz4mm2]

DukeStreet,
I agree completely!