Re: What It Takes To be "The Rich" These Days

"186282@ud0s4.net" <186283@ud0s4.net> wrote in
news:vl-dnZOqR8kL7VT7nZ2dnZfqnPqdnZ2d@earthlink.com:

https://www.dailymail.co.uk/yourmoney/housing-market/article-13774323/net
-worth-rich-12-major-cities.html
 
. . .
 
   The skinny ... at least 2.5 MILLION in easily
   accessible worth ON AVERAGE.

That is a sad view of "rich" that I hope is not shared by many.

Many casual friends thought I had much better resources than I did.  The
reality was that I saved a good portion of my earnings for use later on.  I
used much of the funds for visiting with family and friends many times a
year.  I now use what little is left for retirement.  One of the keys to my
savings over the years was keeping funds in many forms - from liquid to
long term.  As needed I could rebalance to address donations, shift
investment goals to fit immediate needs, and support friends that needed
help.

There has been quite a dramatic shift in values from my parents generation
to the current ones.  My parents spent most on necessities and values. 
Today's young don't seem to be educated on managing money.

Please consider what is really important in your hopefully long life.  Does
a large bank account make you rich?  I was taught to value family and
friends more than things.  That made me rich in my opinion.

I admit that there is an aging cell phone here which I payed cash for. 
Same for my cars.  Don't use loans if you can avoid it.  I saved for my
next car as sson as I payed for the next one.  Make sure you have enough
funds for emergencies like repairs, recovering from being sick, and taking
care of your family.

Please follow a traditional family path.  That is - educate yourself, live
modestly, follow good jobs, keep long term friends, get married, and build
great families of your own.  That includes teaching your young good values. 
Don't spend excessively.  Do you need to eat out so often or have food
delivered?  Do you really need a new cell phone or several entertainment
plans?

Each of us learns and changes our definition of rich over time.  If money
is all you value then you are really missing the point of being rich.

All the best to you as you grow and mature!