Tough Times

Wiseman · 03-01-2012, 00:06

http://www.bloomberg.com/news/2012-0...heap-chex.html

My heart literally sank for the individual that has to hand wash the dishes.

scooter · 03-01-2012, 06:15

"“People who don’t have money don’t understand the stress,” said Alan Dlugash, a partner at accounting firm Marks Paneth & Shron LLP in New York who specializes in financial planning for the wealthy.

A labradoodle named Zelda and a rescued bichon frise, Duke, cost $17,000 a year, including food, health care, boarding and a daily dog-walker who charges $17 each per outing, he said.

He wrote two years ago that his family was “just getting by” on more than $250,000 a year, setting off what he called a firestorm of criticism."

1stindoor · 03-02-2012, 00:18

Personally, I think it's funny. I don't envy nor despise those that make/earn what I might consider obscene amounts of money. I don't worry about their expenditures either. If I had that kind of wealth I might do the same. What I find funny is their hand wringing over the decisions on what they might have to cut. The numeorus cars, trips, private elementary schools, etc.

It's all relative though. How many of us have to work through which gun we want to buy, versus which one we can afford, whether or not to get the new Harley, or stick with the old one, new boat, or spend the money on the old one, etc.

Broadsword2004 · 03-02-2012, 00:59

Reminds me in this book I was reading where the butler of this rich family is driving the wife, and she's telling him about their "struggles." Then she bursts into tears, saying, "We lost $100 million in this crisis!" Of course, that's out of a net worth of $300 million, so while losing $100 million sucks, if you have $200 million left over, when so many others are losing their homes, their pensions, retirements, etc...just crazy.

These people shouldn't complain if they are just reduced to a standard middle-class income versus an affluent one. At least they still have the basics covered. Lots of middle-income people have been hammered (no job, upside-down mortgage, lost everything, etc...). What gets me is these folks that make all this money, but don't save for a rainy day. Does it never occur to them that bubbles occur, recessions occur, crashes occur, etc...the economy after some point always takes a plunge.

1stindoor · 03-02-2012, 05:58

Quote:

Originally Posted by Broadsword2004

Does it never occur to them that bubbles occur, recessions occur, crashes occur, etc...the economy after some point always takes a plunge.

I guess not. My secret "amusement" is knowing that a lot of these people that mocked my lifestyle and wage...now know their retirement plan wasn't worth as much as my retirement plan from the military.

BOfH · 03-02-2012, 09:49

Quote:

Originally Posted by 1stindoor

I guess not. My secret "amusement" is knowing that a lot of these people that mocked my lifestyle and wage...now know their retirement plan wasn't worth as much as my retirement plan from the military.

And that is why they are trying to hammer away at it...