Mergath Posted March 2, 2012 Share Posted March 2, 2012 http://finance.yahoo.com/news/bonus-withdrawal-puts-bankers-malaise-050100338.html I mean, I know some people who have had a really tough time with the economy. But reading about someone who is struggling to afford his Connecticut summer home, or to rent a garage for one of his Audis, well, that just puts it in perspective, how bad things can get. :rolleyes: Quote Link to comment Share on other sites More sharing options...
Pink Fairy Posted March 2, 2012 Share Posted March 2, 2012 And yet, they manage to carry on. So inspiring! Quote Link to comment Share on other sites More sharing options...
Liz CA Posted March 2, 2012 Share Posted March 2, 2012 Snort. :glare: Quote Link to comment Share on other sites More sharing options...
Mergath Posted March 2, 2012 Author Share Posted March 2, 2012 And yet, they manage to carry on. So inspiring! It really is. I was thinking we should start a charity so those poor children don't ever have to know the horror of not attending a $30,000 a year private school. Quote Link to comment Share on other sites More sharing options...
Kirch Posted March 2, 2012 Share Posted March 2, 2012 Ok, where's that barfing emoticon . . . Sorry. When we're struggling already and then the van goes kaput and now we have to try to figure out whether to try to fix it or buy a new one with $$ we don't have, I just can't muster up much sympathy. I don't have a problem with someone being rich (as long as they got that way honestly), but that's kind of the POINT of being rich. Plenty of breathing room; if things start to tighten up a bit, plenty of belt to let out, kwim? And if he's up to his eyeballs in debt for those things, then maybe getting them wasn't the brightest idea. And either way, sell them and he's still better off than many, many people. I don't begrudge him that, but I also don't feel too bad for him either. Quote Link to comment Share on other sites More sharing options...
GailV Posted March 2, 2012 Share Posted March 2, 2012 :blink: You've got to be kidding me. They should get to the point where there are no options, nothing left to cut, then come back and talk about their stress. :iagree: Quote Link to comment Share on other sites More sharing options...
Excelsior! Academy Posted March 2, 2012 Share Posted March 2, 2012 "I can't imagine what I'm going to do," Schiff said. "I'm crammed into 1,200 square feet. I don't have a dishwasher. We do all our dishes by hand." That poor fella.:lol::lol::lol: Quote Link to comment Share on other sites More sharing options...
Mommy22alyns Posted March 2, 2012 Share Posted March 2, 2012 :nopity: Quote Link to comment Share on other sites More sharing options...
HSMom2One Posted March 2, 2012 Share Posted March 2, 2012 Ok, where's that barfing emoticon . . . Sorry. When we're struggling already and then the van goes kaput and now we have to try to figure out whether to try to fix it or buy a new one with $$ we don't have, I just can't muster up much sympathy. I don't have a problem with someone being rich (as long as they got that way honestly), but that's kind of the POINT of being rich. Plenty of breathing room; if things start to tighten up a bit, plenty of belt to let out, kwim? And if he's up to his eyeballs in debt for those things, then maybe getting them wasn't the brightest idea. And either way, sell them and he's still better off than many, many people. I don't begrudge him that, but I also don't feel too bad for him either. I feel exactly the same as you, Kirch! My husband is unemployed, we're struggling to pay the electric bill, the transmission just went out on our main car, and on and on....You know,honestly, there are people in this world that have never had to struggle and go without. They don't even know what that means. All I can say is that I have learned so much through trials and adversity, and have become a stronger woman with more faith because of it. I'm actually thinking that people in the situations listed in the article are really the ones to feel sorry for. Really! Blessings, Lucinda Quote Link to comment Share on other sites More sharing options...
TammyinTN Posted March 2, 2012 Share Posted March 2, 2012 :nopity::smash::glare: I think this sums up how I feel. Quote Link to comment Share on other sites More sharing options...
SKL Posted March 2, 2012 Share Posted March 2, 2012 This is why I refused to even consider taking a job in one of those high-cost places. Too much stress for a lifestyle that actually isn't any better - more likely, worse. It is true that the examples in that article are a bit ridiculous. But even for people living a relatively modest life, they need a ridiculous amount of money because rent or mortgage in NY and some other places is many times what the same house would cost everywhere else. And I can't blame them for wanting their kids in private schools, considering the alternative. They are maligned for their six-figure salary, even if basic living expenses exceed that. I had a boss in DC who was pretty high on the totem pole, and he lived in a tiny row-house where his living room by day was his daughters' shared bedroom by night. For that he had to be away from home most of the time and BS his way through his waking hours. No thank you! Quote Link to comment Share on other sites More sharing options...
Cammie Posted March 2, 2012 Share Posted March 2, 2012 The story really shows why the country is in the problem it is in. Living beyond your means, whether the means are $50,000 or $500,000, will lead to heartache and stress. We were all sold an "American dream" which included being able to have everything our heart's desired. The rich are just now catching on that they are not immune from the problem. As income goes up so does expectations. What for most people would be unimaginable luxuries (4 month summer house rental, private elementary school that cost more than some colleges, luxury cars, private club memberships) are for them symbols that they belong in a certain level of society. They will have to make cuts. Those kids will have to attend public school or (gasp!) homeschool! Sell the cars, give up the rented parking spaced, walk your own dang dog. We are all cutting these days. For some of us it hurts more than for others! Quote Link to comment Share on other sites More sharing options...
Catwoman Posted March 2, 2012 Share Posted March 2, 2012 OK, I'm not disagreeing with anyone, but I think our reactions to the article are all a matter of perspective. If you live in NYC, a salary of $150-200,000 per year is not a lot of money. At all. And depending where you live, there's a very good chance that you'd be sending your dc to private schools, so I can understand the fear of not being able to afford the expense. If you're accustomed to a certain lifestyle, it can be incredibly depressing to have to dramatically scale back, so in that respect, I can understand the sentiment of the article. If you've grown up with certain luxuries and have worked hard to be able to support your family in the same (or better) manner, it's a real kick in the teeth to not be able to do that any more. I'm not suggesting that they fall into the same category as a family that is struggling to put food on the table, but from their perspective, they feel as though they are in the same situation and are just as worried. Sure, a lot of their concerns may seem shallow and petty, and having to only rent a summer house for one month (instead of their usual four) doesn't seem like much of a sacrifice to most people, but in their minds, it's huge. Just because you may not be able to relate to their worries doesn't mean their feelings aren't valid, or that they're not losing sleep at night over financial worries. Quote Link to comment Share on other sites More sharing options...
Brindee Posted March 2, 2012 Share Posted March 2, 2012 (edited) Their woe at not knowing what to do with "only" $250,000/year is rather sad! Even in high expense places, people are living with WAY less pay than that. This guy just wants to live like he always thought he should--with lots of money and things (as he said). Probably LOTS of people would like to live with lots of money and things. At this point he's making over $200,000 more than many, many people that had that same dream. I think they should be required to live 6 months, or even 3 on the amount that most people have to live on, THEN go back and see what they may be able to live without that they really don't need! Edited March 2, 2012 by Brindee Quote Link to comment Share on other sites More sharing options...
Catwoman Posted March 2, 2012 Share Posted March 2, 2012 give up the rented parking space In NYC? No way! No how! :D Get rid of the kids if you have to, but you need that parking space! ;) Quote Link to comment Share on other sites More sharing options...
Lisbeth Posted March 2, 2012 Share Posted March 2, 2012 Hard to have sympathy, but it is a terrible sign for the economy. The rich buy stuff, build stuff, eat out, fly, go on vacations, etc All of thay employs a lot of people. When they pull out of their extra spending, businesses suffer and fire people. Vicious circle. Right now, we are on the edge, and this is just one more omen. I believe it will be much worse before it gets better. Sadly. In Greece, well dressed citizens can now be seen discreetly looking in the garbage for food. Just the the tip of the iceburg! Quote Link to comment Share on other sites More sharing options...
Lisbeth Posted March 2, 2012 Share Posted March 2, 2012 Their woe at not knowing what to do with "only" $250,000/year is rather sad! This guy just wants to live like he always thought he should--with lots of money and things. Probably LOTS of people would like to live with lots of money and things. At this point he's making over $200,000 more than many, many people that had that same dream. I think they should be required to live a year on the amount that most people have to live on! I understand the frustration, but where do you draw the line? Maybe those in very poor countries think you and your children should have to live like them for a year, in starvation and violence. Those very poor would think we are all sad, complaining about what to them is incredible wealth. If a person has earned his money, why should he live on a lesser salary? Who would decide and enforce that? Quote Link to comment Share on other sites More sharing options...
Pink Fairy Posted March 2, 2012 Share Posted March 2, 2012 OK, I'm not disagreeing with anyone, but I think our reactions to the article are all a matter of perspective. If you live in NYC, a salary of $150-200,000 per year is not a lot of money. At all. And depending where you live, there's a very good chance that you'd be sending your dc to private schools, so I can understand the fear of not being able to afford the expense. If you're accustomed to a certain lifestyle, it can be incredibly depressing to have to dramatically scale back, so in that respect, I can understand the sentiment of the article. If you've grown up with certain luxuries and have worked hard to be able to support your family in the same (or better) manner, it's a real kick in the teeth to not be able to do that any more. I'm not suggesting that they fall into the same category as a family that is struggling to put food on the table, but from their perspective, they feel as though they are in the same situation and are just as worried. Sure, a lot of their concerns may seem shallow and petty, and having to only rent a summer house for one month (instead of their usual four) doesn't seem like much of a sacrifice to most people, but in their minds, it's huge. Just because you may not be able to relate to their worries doesn't mean their feelings aren't valid, or that they're not losing sleep at night over financial worries. True. Their concerns do seem shallow and petty. I'll add whiny and out of touch with reality to the list. I just hope they read the article and realize how ridiculous they sound. Quote Link to comment Share on other sites More sharing options...
Catwoman Posted March 2, 2012 Share Posted March 2, 2012 True. Their concerns do seem shallow and petty. I'll add whiny and out of touch with reality to the list. I just hope they read the article and realize how ridiculous they sound. Perhaps their reality is just different from your reality. Quote Link to comment Share on other sites More sharing options...
Pink Fairy Posted March 2, 2012 Share Posted March 2, 2012 I understand the frustration, but where do you draw the line? Maybe those in very poor countries think you and your children should have to live like them for a year, in starvation and violence. Those very poor would think we are all sad, complaining about what to them is incredible wealth. If a person has earned his money, why should he live on a lesser salary? Who would decide and enforce that? My dh and I were just having this conversation! There are some ugly things going on in his workplace--pay cuts, furlough days, more work for less pay--with no end in sight. But we are still comfortable, with full bellies, a large home, and the freedom and ability to homeschool, which is a lot more than most people in the rest of the world have. It's a good reminder to keep things in perspective. Quote Link to comment Share on other sites More sharing options...
Pink Fairy Posted March 2, 2012 Share Posted March 2, 2012 Perhaps their reality is just different from your reality. There's no perhaps about it, lol. Quote Link to comment Share on other sites More sharing options...
Catwoman Posted March 2, 2012 Share Posted March 2, 2012 There's no perhaps about it, lol. :D :D :D :D Quote Link to comment Share on other sites More sharing options...
SKL Posted March 2, 2012 Share Posted March 2, 2012 Another thing to remember is how much tax comes out of these folks' pay before they can spend the first dollar on the overpriced housing they have to choose from. If they are partners in a partnership, they may be paying taxes on income they are not even receiving. Has anyone noticed how much welfare recipients get for living in expensive big cities? It's a lot, especially when you add in the market value of subsidies for housing, food, medical, etc. Many of us could easily live in comfort on that much money. It really is amazing how much cost of living varies in this country. Quote Link to comment Share on other sites More sharing options...
Brindee Posted March 2, 2012 Share Posted March 2, 2012 I understand the frustration, but where do you draw the line? Maybe those in very poor countries think you and your children should have to live like them for a year, in starvation and violence. Those very poor would think we are all sad, complaining about what to them is incredible wealth. If a person has earned his money, why should he live on a lesser salary? Who would decide and enforce that?I went to Kenya on a missionary trip, and they DO think all of us are rich! And we all are! They have so little! :( I DID live with them for a month, and would've stayed longer if I could have! DH hasn't gotten a raise or bonus or cost of living adjustment for years. He used to get those fairly regularly. The cost of living has skyrocketed and he (and thousands of others) still gets the same pay. So I DO know and understand where he's coming from. I guess the difference is, we don't complain about it. We have what we have and are thankful for it, though we've had to make many adjustments to compensate. I'm NOT going to fuss about dh having a job in these rough economic times! I am thankful and grateful, and even with a pay cut we're making it and have a roof over our heads that isn't leaking. But you're right, it's hard to know where to draw the line. Quote Link to comment Share on other sites More sharing options...
Kirch Posted March 2, 2012 Share Posted March 2, 2012 I understand the frustration, but where do you draw the line? Maybe those in very poor countries think you and your children should have to live like them for a year, in starvation and violence. Those very poor would think we are all sad, complaining about what to them is incredible wealth. If a person has earned his money, why should he live on a lesser salary? Who would decide and enforce that? I get what you're saying, but I think (for me, anyway) that kind of drives the point home. We're struggling financially, but I KNOW we are still so blessed and fortunate and RICH compared with so many around the world. I'm not saying a person should live on a lesser salary--I'm saying that he should live on the salary he has, and as long as he and his family are housed, clothed, fed, and have other basic necessities met, he should be grateful. Anything beyond that is icing on the cake. If you have the money to pile on the icing, go for it--I don't have a problem with that. Plus, like someone said, that helps the economy. But if you (general you, not you specifically) don't have the money for the "icing" (or if you don't anymore), a little perspective is good. I get it that money issues are stressful no matter the amount, but when you're at the point that you see things that are truly "wants" (i.e., a vacation at a summer house, whether it's 1 month or 4, expensive cars, etc.) as needs, IMO your perspective is out of whack. Again, I don't care at all if people who can afford them have those things--that's great. And I get it that it stinks to have to scale back when you've enjoyed them. But all those nice things are not necessities, and when it seems pretty obvious that there's plenty of room to scale back, spend less money, and still live better than so many people, it's really hard for those of us who are struggling to make ends meet to feel too badly for them. Quote Link to comment Share on other sites More sharing options...
SunnyDays Posted March 2, 2012 Share Posted March 2, 2012 Living beyond one's means is the issue no matter what the salary. I do agree people in certain positions have a certain "image" to maintain, and I'm sure you get used to a certain lifestyle. It's hard to make cuts no matter what they are.... although I certainly have a great deal more sympathy for someone who's worried about groceries, than about the summer beach house!! As someone else said... to other parts of the world, we're all filthy rich because we all have four walls, electricity, food on our table, and all the "extras" like cars, phones, TV... when I get a case of envy or frustration that I can't go buy whatever I want, I try to remind myself that 90% of the world is worse off financially than my household. Quote Link to comment Share on other sites More sharing options...
Catwoman Posted March 2, 2012 Share Posted March 2, 2012 But if you (general you, not you specifically) don't have the money for the "icing" (or if you don't anymore), a little perspective is good. I get it that money issues are stressful no matter the amount, but when you're at the point that you see things that are truly "wants" (i.e., a vacation at a summer house, whether it's 1 month or 4, expensive cars, etc.) as needs, IMO your perspective is out of whack. Again, I don't care at all if people who can afford them have those things--that's great. And I get it that it stinks to have to scale back when you've enjoyed them. But all those nice things are not necessities, and when it seems pretty obvious that there's plenty of room to scale back, spend less money, and still live better than so many people, it's really hard for those of us who are struggling to make ends meet to feel too badly for them. I think that's an excellent point. We are very blessed to have many luxuries, but in the back of my mind, even when I want a certain kind of car (or whatever,) I know I don't really "need" it, and if I had to live on less money, I would make do with what I had. I'm not saying I would be thrilled about it, but I don't base my self-worth on the value of my stuff (OK, maybe a little, but I don't think I'm too bad about it,) so I might have an easier time dealing with it than someone who owns a lot of things because they need to feel superior to others by bragging about how much they have. And I know a lot of those people. :glare: I have had too many life experiences that have shown me that happiness is not all about the money, and that there are many times when I would have traded every dime I had if I could have cured a family member of a deadly disease or prevented something terrible from happening to someone I loved, so I have to admit that while I do understand the way the subjects in the article were feeling, there is a part of me wanted to shake them and let them know that as long as their families are healthy, losing out on a few months in that stupid summer house isn't really that important in the overall scheme of things. (But I'd still keep the car and the parking space. :tongue_smilie:) Quote Link to comment Share on other sites More sharing options...
jewellsmommy Posted March 2, 2012 Share Posted March 2, 2012 One of the things that struck me was how the charities and people they pay for service (dog walker etc) are also losing out. If they cut down their giving and stop using certain services then other people are also suffering as a result. Yes, it's hard to feel sorry for someone in the position of making 6 figures, but the charity and other service providers are going to be hit hard. Quote Link to comment Share on other sites More sharing options...
NASDAQ Posted March 2, 2012 Share Posted March 2, 2012 This reminds me of the Bonfire of the Vanities quote . . . "he was going broke on a million a year," something like that. It would be unpleasant to have to pull children from a school in which they were happy. Downsizing is hard. We get wild salmon for $4 a lb though. It pays to have connections ;) Quote Link to comment Share on other sites More sharing options...
Cammie Posted March 2, 2012 Share Posted March 2, 2012 In NYC? No way! No how! :D Get rid of the kids if you have to, but you need that parking space! ;) :lol: That is why I said give up the car! If you keep the car, I agree, you need the rented parking space!! (Do you remember the Seinfeld episode where George gets a job moving people's cars from one side of the street to another??) Quote Link to comment Share on other sites More sharing options...
Bang!Zoom! Posted March 2, 2012 Share Posted March 2, 2012 What if....what if....this is a case of really vile editing? What if during the interview, these folks talked non stop about their core values, how they knew wrong from right, love from hate...and .. It was just edited out? I just gotta say this...but my direct life experience of the 1% of this world, my face to face time, discussions, exposures..all of it...flies exactly the opposite of what this author says. I call BS. Quote Link to comment Share on other sites More sharing options...
A.Balaban Posted March 2, 2012 Share Posted March 2, 2012 The only thing this story shows us that these Americans who live in the top 1% have no idea about the 99% below them. Even less do they understand that around the world about 1.2 billion people live on less than $1 a day. Yes, a 50% paycut at $50k is terrible, and yes, a 50% paycut at 500k seems like a big deal. But the difference? How many people are living at 25k while you complain about living at 250k? And then, think, about the people who live on less than $1. People like that make me sick. :boxing_smiley: Quote Link to comment Share on other sites More sharing options...
Catwoman Posted March 2, 2012 Share Posted March 2, 2012 The only thing this story shows us that these Americans who live in the top 1% have no idea about the 99% below them. Even less do they understand that around the world about 1.2 billion people live on less than $1 a day. Yes, a 50% paycut at $50k is terrible, and yes, a 50% paycut at 500k seems like a big deal. But the difference? How many people are living at 25k while you complain about living at 250k? And then, think, about the people who live on less than $1. People like that make me sick. :boxing_smiley: Wow. Judgmental much? :001_huh: If you were used to making $500k a year, and suddenly only made $250k, you would complain, too. None of the people quoted in the article ever compared themselves with people who were living on $25k or less. They were speaking about their own personal lifestyles, and I think they had every right to do that. None of them said they were suicidal about not making as much money or that they deserved to make more than everyone else because they were somehow superior, and I find it perfectly reasonable that they might be having a hard time getting used to living on less money. Who wouldn't? I am appalled every time I read one of these $$$ threads, and people start posting about how the people who have more money than they have "make them sick." That is a horrible and prejudicial judgment. Just because a person makes a lot of money, does not automatically make him or her a bad person, just as having to make do with very little money automatically makes a person good, honest, and decent. Money doesn't define character, and we have no idea what the people quoted in the article are really like. For all we know, they could be wonderful people despite (gasp!) making good incomes. I'm sorry to bash you, but I really think you crossed the line when you said, "People like that make me sick." Most of the people I know are "people like that," and the vast majority of them are very nice. Quote Link to comment Share on other sites More sharing options...
Bang!Zoom! Posted March 2, 2012 Share Posted March 2, 2012 Google the author of this article. Look at his titles...the pattern of it. He makes a living writing this slant. Quote Link to comment Share on other sites More sharing options...
Catwoman Posted March 2, 2012 Share Posted March 2, 2012 Google the author of this article. Look at his titles...the pattern of it. He makes a living writing this slant. I wouldn't be surprised. I'm sure it's like the homeschool article posted here recently where the moms came across quite poorly, and then we found out that a member of our very own Hive was one of the moms in the homeschool group that was the subject of the article, and she told us how the reporter had misrepresented them. I'm sure that's the case in this article as well. The quotes were quite disjointed, and I have a feeling there was a lot more to the conversations than was depicted in the final article. Quote Link to comment Share on other sites More sharing options...
A.Balaban Posted March 2, 2012 Share Posted March 2, 2012 I'm sorry to bash you, but I really think you crossed the line when you said, "People like that make me sick." Most of the people I know are "people like that," and the vast majority of them are very nice. Oh you couldn't be more right My parents live in a very well-off neighborhood, and you couldn't find nicer people around. One of the neighbors let my DH and I stay her in mountain trail-side ski vacation home for a weekend when we went up to Vermont in October. Very nice people, who also hit a rough patch and have a renter living in their pool house to help pay for their bills. So yes, rich people can fall on hard times, but most recognize and adapt- or save. That is the key difference that I take issue with- those who do not adapt and continue to live a $500k plus lifestyle and expect that things in their life do not have to change. This is a bit personal for me, I admit, my DH's family used to be in the 250k+ plus club. They had a nice home, and went bankrupt due to poor spending and planning habits. It can happen. But, being able to adapt is the key difference here! Quote Link to comment Share on other sites More sharing options...
Carpe Posted March 2, 2012 Share Posted March 2, 2012 I wouldn't be surprised. I'm sure it's like the homeschool article posted here recently where the moms came across quite poorly, and then we found out that a member of our very own Hive was one of the moms in the homeschool group that was the subject of the article, and she told us how the reporter had misrepresented them. I'm sure that's the case in this article as well. The quotes were quite disjointed, and I have a feeling there was a lot more to the conversations than was depicted in the final article. I missed this one. Link? Quote Link to comment Share on other sites More sharing options...
plansrme Posted March 2, 2012 Share Posted March 2, 2012 People like that make me sick. :boxing_smiley: Wow. Would you think the same if you were one of the small businesses supported by "people like that"? What if you were the dog walker at $17 per outing, the landlord on the $500/month parking space, the golf pro at the golf club, the therapist, the accountant or the private school teacher where their kids are in school? These people are not hoarding their money in their basements; they are spending it just like everyone else, and the livelihoods of many, many families benefit from their spending. Jealousy is an ugly emotion, but if it makes you feel better to veil your jealousy as compassion for the "99%," well good for you. Terri Quote Link to comment Share on other sites More sharing options...
Ester Maria Posted March 2, 2012 Share Posted March 2, 2012 OK, I'm not disagreeing with anyone, but I think our reactions to the article are all a matter of perspective. If you live in NYC, a salary of $150-200,000 per year is not a lot of money. At all. And depending where you live, there's a very good chance that you'd be sending your dc to private schools, so I can understand the fear of not being able to afford the expense. If you're accustomed to a certain lifestyle, it can be incredibly depressing to have to dramatically scale back, so in that respect, I can understand the sentiment of the article. If you've grown up with certain luxuries and have worked hard to be able to support your family in the same (or better) manner, it's a real kick in the teeth to not be able to do that any more. I'm not suggesting that they fall into the same category as a family that is struggling to put food on the table, but from their perspective, they feel as though they are in the same situation and are just as worried. Sure, a lot of their concerns may seem shallow and petty, and having to only rent a summer house for one month (instead of their usual four) doesn't seem like much of a sacrifice to most people, but in their minds, it's huge. Just because you may not be able to relate to their worries doesn't mean their feelings aren't valid, or that they're not losing sleep at night over financial worries. :iagree: I truly believe that there are many people out there who just. don't. get it., though. Even if, compared to most of the world, *their own* lifestyles are luxurious. I mean, really, somebody could read a complaint about money struggles on these very boards and think, "Wow, let me get this straight. You own a home, which is probably nice, not like you are all stuck in two small rooms; you have a bunch of kids by your own choice, you are in a position of not having to work and being able to stay home with kids, what the heck are you complaining about? About having to cut on an extracurricular or two and having to buy cheaper clothes for kids - but you still have closets full of clothes, a bunch of electronics and stuff you could sell if it were really that bad, and you are still not putting your kids to the nearest public school to work to bring more money on the table, so what exactly are you complaining about, while sitting idle at home and WTMing - because you have time to do so?!" Well, the exact same thing with these people, guys. The 1% are people too, used to their own lifestyle, for whom what you see as luxuries are completely normal components of life which they do regret having to cut on. And then again, who decides on when somebody is "rich enough" to not have to complain? Many poor Americans are very rich by the wide world standards out there - are they all ungrateful bastards who "cannot put things in perspective" the moment they complain about something? People complain about what is relevant to their lives and what affects their lifestyles. You may not be able to relate to it, but it does not mean those are not valid concerns. People speak in parameters normal TO THEM, and it does not necessarily make them bad persons. And I will bet you those interviews were heavily edited to put a particular light on the story. Quote Link to comment Share on other sites More sharing options...
Down_the_Rabbit_Hole Posted March 2, 2012 Share Posted March 2, 2012 :iagree: I truly believe that there are many people out there who just. don't. get it., though. Even if, compared to most of the world, *their own* lifestyles are luxurious. I mean, really, somebody could read a complaint about money struggles on these very boards and think, "Wow, let me get this straight. You own a home, which is probably nice, not like you are all stuck in two small rooms; you have a bunch of kids by your own choice, you are in a position of not having to work and being able to stay home with kids, what the heck are you complaining about? About having to cut on an extracurricular or two and having to buy cheaper clothes for kids - but you still have closets full of clothes, a bunch of electronics and stuff you could sell if it were really that bad, and you are still not putting your kids to the nearest public school to work to bring more money on the table, so what exactly are you complaining about, while sitting idle at home and WTMing - because you have time to do so?!" Well, the exact same thing with these people, guys. The 1% are people too, used to their own lifestyle, for whom what you see as luxuries are completely normal components of life which they do regret having to cut on. And then again, who decides on when somebody is "rich enough" to not have to complain? Many poor Americans are very rich by the wide world standards out there - are they all ungrateful bastards who "cannot put things in perspective" the moment they complain about something? People complain about what is relevant to their lives and what affects their lifestyles. You may not be able to relate to it, but it does not mean those are not valid concerns. People speak in parameters normal TO THEM, and it does not necessarily make them bad persons. And I will bet you those interviews were heavily edited to put a particular light on the story. :iagree: Quote Link to comment Share on other sites More sharing options...
TheAutumnOak Posted March 2, 2012 Share Posted March 2, 2012 (edited) . Edited March 2, 2012 by TheAutumnOak Quote Link to comment Share on other sites More sharing options...
MSNative Posted March 2, 2012 Share Posted March 2, 2012 What if....what if....this is a case of really vile editing? What if during the interview, these folks talked non stop about their core values, how they knew wrong from right, love from hate...and .. It was just edited out? I just gotta say this...but my direct life experience of the 1% of this world, my face to face time, discussions, exposures..all of it...flies exactly the opposite of what this author says. I call BS. :iagree: Quote Link to comment Share on other sites More sharing options...
Heather in AL Posted March 2, 2012 Share Posted March 2, 2012 OK, I'm not disagreeing with anyone, but I think our reactions to the article are all a matter of perspective. If you live in NYC, a salary of $150-200,000 per year is not a lot of money. At all. And depending where you live, there's a very good chance that you'd be sending your dc to private schools, so I can understand the fear of not being able to afford the expense. If you're accustomed to a certain lifestyle, it can be incredibly depressing to have to dramatically scale back, so in that respect, I can understand the sentiment of the article. If you've grown up with certain luxuries and have worked hard to be able to support your family in the same (or better) manner, it's a real kick in the teeth to not be able to do that any more. I'm not suggesting that they fall into the same category as a family that is struggling to put food on the table, but from their perspective, they feel as though they are in the same situation and are just as worried. Sure, a lot of their concerns may seem shallow and petty, and having to only rent a summer house for one month (instead of their usual four) doesn't seem like much of a sacrifice to most people, but in their minds, it's huge. Just because you may not be able to relate to their worries doesn't mean their feelings aren't valid, or that they're not losing sleep at night over financial worries. :iagree: :iagree: I truly believe that there are many people out there who just. don't. get it., though. Even if, compared to most of the world, *their own* lifestyles are luxurious. I mean, really, somebody could read a complaint about money struggles on these very boards and think, "Wow, let me get this straight. You own a home, which is probably nice, not like you are all stuck in two small rooms; you have a bunch of kids by your own choice, you are in a position of not having to work and being able to stay home with kids, what the heck are you complaining about? About having to cut on an extracurricular or two and having to buy cheaper clothes for kids - but you still have closets full of clothes, a bunch of electronics and stuff you could sell if it were really that bad, and you are still not putting your kids to the nearest public school to work to bring more money on the table, so what exactly are you complaining about, while sitting idle at home and WTMing - because you have time to do so?!" Well, the exact same thing with these people, guys. The 1% are people too, used to their own lifestyle, for whom what you see as luxuries are completely normal components of life which they do regret having to cut on. And then again, who decides on when somebody is "rich enough" to not have to complain? Many poor Americans are very rich by the wide world standards out there - are they all ungrateful bastards who "cannot put things in perspective" the moment they complain about something? People complain about what is relevant to their lives and what affects their lifestyles. You may not be able to relate to it, but it does not mean those are not valid concerns. People speak in parameters normal TO THEM, and it does not necessarily make them bad persons. And I will bet you those interviews were heavily edited to put a particular light on the story. :iagree: I admit, my first reaction wasn't that I felt badly for them, but putting myself in their shoes, I do feel for them. That kind of lifestyle isn't one I can relate to.... fancy cars, summer homes, golf club memberships, yet I know what it feels like to have income cut, and it hurts. I know I have more than many, yet if something affects *me*, it makes me want to vent all the same. I remember reading/hearing somewhere that people's problems are all relative to them. What is small potatoes to some is huge for someone else, but when people have problems, they cause hurt/angst all the same. I try to remember that when I read stories like this. I tried to be eloquent in my post, but I have failed... I need more coffee. :tongue_smilie: Quote Link to comment Share on other sites More sharing options...
BeehiveSez Posted March 2, 2012 Share Posted March 2, 2012 http://finance.yahoo.com/news/bonus-withdrawal-puts-bankers-malaise-050100338.html I mean, I know some people who have had a really tough time with the economy. But reading about someone who is struggling to afford his Connecticut summer home, or to rent a garage for one of his Audis, well, that just puts it in perspective, how bad things can get. :rolleyes: I agree, just put your whole life into perspective. :grouphug: Quote Link to comment Share on other sites More sharing options...
TXBeth Posted March 2, 2012 Share Posted March 2, 2012 What if....what if....this is a case of really vile editing? What if during the interview, these folks talked non stop about their core values, how they knew wrong from right, love from hate...and .. It was just edited out? I just gotta say this...but my direct life experience of the 1% of this world, my face to face time, discussions, exposures..all of it...flies exactly the opposite of what this author says. I call BS. :iagree: In my opinion, even if someone actually felt the way these people are portrayed, they most likely would not be obnoxious enough to talk to a reporter about it so openly, knowing how it would come across to "the 99%." Quote Link to comment Share on other sites More sharing options...
Word Nerd Posted March 2, 2012 Share Posted March 2, 2012 I think they should be required to live 6 months, or even 3 on the amount that most people have to live on, THEN go back and see what they may be able to live without that they really don't need! Then I think you should be required to live 6 months or even 3 months on the amount people who have less than you have to live on. You're also assuming they have always had the money they have now and have never lived on the amount most people have to live on—whatever amount that is. Quote Link to comment Share on other sites More sharing options...
SKL Posted March 2, 2012 Share Posted March 2, 2012 A lot of the "excesses" are bills that can't be easily gotten out of. If you took a job you knew you'd rock at at a nice salary and bought a nice car for each of you and your spouse and signed a promise to pay for a summer cottage timeshare, and then your salary got cut through no fault of your own, you might be more than willing to sell your car and your timeshare - but what if there's nobody interested in buying them? You still have to make the payments. We can say "they should not have bought the fancy cars in the first place," but most of us have made debts for more than we strictly "needed." I can think of many, many people with less means than I have who buy stuff I consider luxuries or just plain wastefulness. But they still consider themselves financially hard up. I've never met anyone who felt s/he had too much money. As for people surviving on $25K - I'd rather live on $25K in an area with a modest cost of living and acceptable schools than $250K in an area where a little house costs over $1m and children/teachers in the public schools are regularly beaten and raped. Quote Link to comment Share on other sites More sharing options...
DawnM Posted March 2, 2012 Share Posted March 2, 2012 (edited) I read that a couple of days ago. Those poor, poor dogs. He may have that $17,000 per year to spend on them. And then the CRUSHING setback of 30K per year to be a part of the investor group. No wonder the poor man feels completely PARALYZED with the economy. Someone on another board did point out that others are dependent on the 1% for THEIR livelihood.....the dog walkers, house cleaners, construction workers, tax accountants, etc.....who may get CUT because they are feeling the pinch.....so the ripple effect can cause others harm, which I do understand. Edited March 2, 2012 by DawnM Quote Link to comment Share on other sites More sharing options...
Word Nerd Posted March 2, 2012 Share Posted March 2, 2012 :iagree: I truly believe that there are many people out there who just. don't. get it., though. Even if, compared to most of the world, *their own* lifestyles are luxurious. I mean, really, somebody could read a complaint about money struggles on these very boards and think, "Wow, let me get this straight. You own a home, which is probably nice, not like you are all stuck in two small rooms; you have a bunch of kids by your own choice, you are in a position of not having to work and being able to stay home with kids, what the heck are you complaining about? About having to cut on an extracurricular or two and having to buy cheaper clothes for kids - but you still have closets full of clothes, a bunch of electronics and stuff you could sell if it were really that bad, and you are still not putting your kids to the nearest public school to work to bring more money on the table, so what exactly are you complaining about, while sitting idle at home and WTMing - because you have time to do so?!" Well, the exact same thing with these people, guys. The 1% are people too, used to their own lifestyle, for whom what you see as luxuries are completely normal components of life which they do regret having to cut on. And then again, who decides on when somebody is "rich enough" to not have to complain? Many poor Americans are very rich by the wide world standards out there - are they all ungrateful bastards who "cannot put things in perspective" the moment they complain about something? People complain about what is relevant to their lives and what affects their lifestyles. You may not be able to relate to it, but it does not mean those are not valid concerns. People speak in parameters normal TO THEM, and it does not necessarily make them bad persons. And I will bet you those interviews were heavily edited to put a particular light on the story. Well said. Quote Link to comment Share on other sites More sharing options...
kathymuggle Posted March 2, 2012 Share Posted March 2, 2012 (edited) I have some sympathy for people of all income brackets who are faced with hard choices (and lets face - having to switch your kids out of a school they love because you cannot pay for it is hard). That is about as far as it goes, though. I think it is nervy and self-entitled to complain about your very high income when so many in his own country have so little. There are two types of poverty - absolute and relative. The man in the article is in neither type of poverty. Saying people in North America should never complain about their poverty as we live in wealth compared to Africa makes little sense to me. There is poverty in North America - most of it is relative, but occasionally it is absolute. They have the right to stand up and say "this economy is so bad I have trouble feeding my children." I do not think rick people are bad people - I think there are good rich people and bad rich people and everything in between (just like in all socio-economic brackets). Publicly complaining about only earning $350 000 when there are people in your own state earning $15 000 does not make you a bad person, but it does make you come across as quite entitled and out of touch with reality. Of course, I do think it is possible it was vilely edited :D I almost hope it was - it is hard to believe someone actually has the nerve to complain about only being able to rent a vacation home for one month instead of four…. Edited March 2, 2012 by kathymuggle Quote Link to comment Share on other sites More sharing options...
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