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Topic: Critical Issue: What is "rich"?

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847badgerfan

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Re: Critical Issue: What is "rich"?
« Reply #126 on: June 27, 2023, 02:38:18 PM »
Breakdown by City. There is only one on the list I'd even consider, and even then probably not.

We don't care for condo life.

How much money it takes to be wealthy in 11 major US cities (msn.com)
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Cincydawg

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Re: Critical Issue: What is "rich"?
« Reply #127 on: June 27, 2023, 02:43:50 PM »
That seems rather qualitative and based on in part "feelings".  

Obviously, this depends hugely on your "wants" and what you may already have that isn't fungible with wealth.  

847badgerfan

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Re: Critical Issue: What is "rich"?
« Reply #128 on: June 27, 2023, 02:46:54 PM »
Blue water access is at the top for us, as it's always been.
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betarhoalphadelta

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Re: Critical Issue: What is "rich"?
« Reply #129 on: June 27, 2023, 02:52:21 PM »
We don't care for condo life.
I don't at this stage of life. 

I do wonder if, as I get older, I'll have more of a desire to live somewhere walkable, and will accept condo life as part of that bargain. 

bayareabadger

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Re: Critical Issue: What is "rich"?
« Reply #130 on: June 27, 2023, 02:55:49 PM »
Breakdown by City. There is only one on the list I'd even consider, and even then probably not.

We don't care for condo life.

How much money it takes to be wealthy in 11 major US cities (msn.com)
How do you define “condo life”?

847badgerfan

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Re: Critical Issue: What is "rich"?
« Reply #131 on: June 27, 2023, 03:09:27 PM »
How do you define “condo life”?
Having to use an elevator to get to your domain. We did it for the last 2+/- years up North and we found it to be a PIA.
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847badgerfan

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Re: Critical Issue: What is "rich"?
« Reply #132 on: June 27, 2023, 03:10:13 PM »
I don't at this stage of life.

I do wonder if, as I get older, I'll have more of a desire to live somewhere walkable, and will accept condo life as part of that bargain.
Good point. I haven't gotten that far yet to be honest. I just know we didn't care for it when we did it.
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Cincydawg

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Re: Critical Issue: What is "rich"?
« Reply #133 on: June 27, 2023, 03:26:58 PM »
There is a rather nice residential area just our north with basically all the location advantages we have if you don't like "condo life" ...

Ansley Park, Atlanta Real Estate & Homes for Sale - Homes.com
Ansley Park, Atlanta Real Estate & Homes for Sale - Homes.com

299 the Prado NE, Atlanta, GA 30309 - For Sale (homes.com)



We stroll though there at times and I am thankful I don't have yard work.

847badgerfan

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Re: Critical Issue: What is "rich"?
« Reply #134 on: June 27, 2023, 03:44:56 PM »
If you could buy a house for $5 Million, you wouldn't worry about the yard work because you wouldn't be doing it.
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Cincydawg

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Re: Critical Issue: What is "rich"?
« Reply #135 on: June 27, 2023, 03:48:11 PM »
I'm too cheap to hire it out though ...

1760 Barnesdale Way NE, Atlanta, GA 30309 - For Sale (homes.com)

A bit more affordable, build in 1950, but it is right on a major freeway, nyet.


FearlessF

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Re: Critical Issue: What is "rich"?
« Reply #136 on: June 27, 2023, 04:05:34 PM »
if the condo was on the golf course, I'd take a look

I'm too cheap to pay for yard work.  Takes me less than an hour to mow.
I don't even pay for snow removal, but I've thought about it.
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FearlessF

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Re: Critical Issue: What is "rich"?
« Reply #137 on: June 27, 2023, 04:25:02 PM »
To be wealthy, you need a net worth of $2.2 million, according to the 2023 Charles Schwab Modern Wealth Survey.

hah, I'm half way there

BUT, that's why I don't and wouldn't live in any of those cities or any city close to that.

I'm guessing even Des Moines and Omaha and Lincoln aren't close.
and my little city of 100,000 isn't close to Omaha or Des Moines
and I don't live in that city

town of 300 is cheap livin.
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Cincydawg

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Re: Critical Issue: What is "rich"?
« Reply #138 on: June 28, 2023, 07:31:51 AM »
I hadn't figured on city living myself.  I always lived in the 'burbs, and figured I'd retire on about 20 acres in the country somewhere and have a veggie garden and some dogs.  There are advantages and disadvantages for nearly everything of course and it depends on personal preference.  There are even some disadvantages in being "rich" in terms of "really rich".  I don't think any of us would turn down a gift of $100 million (think lottery), we'd be thrilled for a time, and then I suspect parts of that would be onerous.  I am willing to give it a go.

Cincydawg

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Re: Critical Issue: What is "rich"?
« Reply #139 on: June 28, 2023, 07:57:02 AM »
Advantages of city living (around here):

We can walk anywhere we need to go, symphony, doctors, groceries, restaurants, park, etc.  Could manage with no car.
Subway to airport is fairly convenient and cheap.
The park and botanical garden is next door, really helps with greenery.  (I don't think I'd like living in any of the 30+ story towers away from the park).
The Beltline is about a mile away, Ponce City Market a bit further, a lot of bars that way with rooftops and breweries
This condo has a decent pool and gym and front desk for packages etc., and we travel a fair bit.
Most folks we see walking are much younger than we are which I think is a plus.
A ton of "ethnic restaurants" nearby.


Disadvantages:

Property is pricey, I could easily have my 20+ acres in NE GA with a pretty decent house on half what we spent
Property and sales tax is high (the latter is 8.9%)
Traffic can be a mess if we need to drive more than 3 miles or so
Some drivers get a bit crazy, more than a bit
Street noise can get high briefly, usually, stereos booming, loud exhausts ...
There are homeless folks around, they very rarely bother us, or even ask for money, which surprised me.

 

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