A Friendly Chat With a Rich Person

Logan Sachon: You are a young person who makes a lot of money: TRUE OR FALSE.

Rich Person: TRUE! I mean, you know, for certain definitions of “a lot”?? I do not have a yacht, and I live in an apartment. But yes I actually was looking through tax paperwork this morning and last year I made something around $140,000. Which is a very large looking number, if you ask me.

LS: Yes. To me you are basically a billionaire. I cannot distinguish between you and Warren Buffett.

RP: Yes I mean this is how I feel too! It is A LOT OF MONEY for a person of my relative youth and charm. (26, Super Charming.)

LS: SO YOUNG. SO CHARMING And so much money. How much money is in your checking account right now?

RP: My personal checking account, which is for day-to-day shit like “eating out” and “buying drinks” has $1,045.27. The joint account, which I share with my wife, that all my checks get deposited in is at $76,707.42. The joint savings account is $32,477. Our plan is to shift a lot of that out to, like, CDs or whatever, for mid-term savings once we meet with the CPA.

LS: So tell me. How did you get to a place where you were making this amount of money?

RP: So I am lucky, which is something successful people like to say about themselves if they’re not assholes (I heard that in an audiobook my dad was listening to), but is also very true. I am a contractor in the entertainment industry, and I make animated logos, commercial graphics, what have you, for film and TV. I used to want to be a video game programmer, then I learned I don’t actually enjoy programming things, I’m just good at it. So I changed to computer game ARTIST, which I spent a long time trying to get good at.

In high school, basically, I was self-teaching myself 3d animation programs, and I was soooo baaaad at it, but I was also dumb enough to not realize this, so I slowly got better and better until I was able to get an unpaid internship (!) the summer before college working at a company that did graphic animation stuff for television. They basically took advantage of me, but also taught me to use more animation tools. So I was able to keep doing work with them, and then other tv animation companies, while I was doing school. So school became, like, my day job, and then I got my actual education at night, working for these companies.

LS: When did you start getting paid?

RP: Let’s see … sophomore year of college I talked them into upgrading me to a paid intern, which meant I was getting paid literally minimum wage to do complicated animation things. It was such, SUCH a scam. I now know that the work I was doing was worth about 300 dollars a day in NY or LA, or maybe 200 if I was worse than I remember, but they were literally giving me 7 dollars an hour or whatever. But then on the flip side, I learned SO MUCH. All of my book-learnin’ college education was just, like, art history and context, but I learned all of my actual day-to-day skills on the job. Which I think is how it is for a lot of people? College gives you a foundation but the actual day to day skills are learned in an office.

LS: Yeah but not generally while you’re still in college! Did you know how lucrative this career could be eventually? Were you tempted to drop out and just get to work?

RP: I had no idea. I graduated in 2008 and was offered two jobs in the same state I was in school in: one at a game company, one at a smallish animation studio. Both encouraged me to drop out to work for them, both offered me around 50,000 or something like that, which straight out of college is a good deal! But I decided to move to LA, instead, where I got a job making I think it was 65,000, as a staff animator. Good money! Great money! Only later did I realize how low that is relative to what contractors make in this field. At every step I just felt lucky to have found a field I was good at, and that I enjoyed doing. Making money was, you know, a broad goal, but it’s not like I was my buddy who went to pharmacy school to get rich.

LS: What were your other friends doing during this time?

RP: Right after college I had one go to work at a defense contractor, making more than I was out of school… a bunch of art types went to grad school. Oh gosh, they ALL went to grad school. Imagine Ginsberg’s “Howl,” but about grad school. I know so many artists who decided that they weren’t gonna get work and went to get an MFA instead.

LS: Did you have loans from school to pay off?

RP: I did not, thankfully—I am, as I said, extraordinarily lucky. I went to a small state school nobody’s heard of, who paid me to keep my GPA over 3.25, and let me double major in what I wanted. So I treated them as, like, my 9-5 office job, while I was working on the side. I mean, also, I was crazy.

LS: Where did that work ethic come from? It just seems so wild to be in college and working that much, if you didn’t have to.

RP: I did about six years of school work in four years. I have no idea! I’m very lazy or I should say I’m very lazy, unless there’s a sort of systemic motivation. So in college, I was on a full ride scholarship that ran out after four years, so it was in my interest to milk that dry for four years and then leave. I took on these internships and low-paying side jobs because I knew I wouldn’t teach myself anything on my own, but if I had a company I owed work to, I’d do it for them. Basically I leveraged my worst psychological traits (anxiety, guilt) and used them to force me to work harder.

LS: Wow. That’s just really really smart reasoning for a college kid. Are your parents really hard workers?

RP: Yes. They are both management-types and both very successful. I grew up outside DC, where the assumption is you WILL be a successful meritocracy type person—lawyer/doctor/politician. So there was just a lot of hard work around me. Now I’m in LA and it’s hard for me to get used to the different expectations of what “hard work” means.

LS: So it sounds maybe like you found a thing you liked and were good and it was just lucky it wasn’t like … abstract painting. That the fact that it was also lucrative was a happy accident?

RP: Yeah, although on the flip side I put a ton of work into figuring out how to make a career out of what I liked. Like up until I graduated, I was thinking I might still do programming stuff, because I was gonna have a degree in it and I was good at it. So if it looked like I’d be scraping by not making money I don’t know if I’d have stuck with it.

The other thing is what I do is not really comparable to abstract painting—like I COULD use the skills I have to make animated shorts and try and get NEA grants and make little art pieces, but instead, I do commercial art. Because at the end of the day I like doing both of these things, but one of them will make money, too. I totally get that a lot of people won’t like the feeling of “selling out,” but for me that’s not really a problem. So I channeled my creative energy into a way to use the things I liked doing to get paid, too.

LS: I’m really interested in your peers, your friends, and how or if your success/their going to grad school changed things in your relationships.

RP: It’s funny, it did to an extent. I’ve found the people I knew in college who didn’t have a solid idea of what they were doing next tended to drift away from me a bit more. I mean part of it is how I moved so far away, too, but I’ve found the people I keep in touch with on the east coast all tend to have, at least somewhat, an idea of what they’re gonna do—whether that be teaching, or working in games, or whatever, they have a plan beyond “get an MFA.” I dunno if that’s a self-selection thing, or just coincidence, but that’s how it’s played out.

In LA it’s a little different. I didn’t know anybody here, and had to make a ton of friends out of nowhere, so there’s a big range of like… position-in-career. I have friends who are in the same field as me, and friends who are struggling writers, and friends who don’t really have a plan beyond paying rent. And it can be awkward.

LS: Let’s talk about THAT.

RP: Let’s! I mean if nothing else, in LA in your 20-something crowd you’ll have people making anywhere from $15,000 a year to, I guess, $140,000 a year in my case, so finding things to do that won’t be awkwardly expensive, finding ways to buy rounds without getting weird about it, it’s all gotta get navigated.

My wife and I have taken to hiring our friends to catsit for us and, like, it is a valuable service we are paying for, but I get awkward about how much they feel like they’re becoming our SERVANTS because we’re paying them, and we make enough money that I’d be so uncomfortable NOT paying them.

LS: Do you feel like there’s an expectation from your friends that you’ll buy dinner or drinks or whatever when you go out?

RP: Sometimes! Not always, and not in a way I’m uncomfortable with.

LS: I have a few friends who make A Lot More Money Than Me and I do find myself falling into that expectation sometimes, just feeling .. um this person will probably be getting the check and then being kind of surprised if we split it. NEVER OUT LOUD. But like I said, six figures to me sounds like INFINITE MONEY.

RP: Listen I make six figures and it FEELS like infinite money…until it’s all gone. Like, yes, everyone knows we make more money! And I would rather pay for a friend than have them not come to an event. But, also, obviously this doesn’t apply to EVERYTHING, right? A friend just had her car break down, and part of me was like “We could just… pay for that! Right now! Out of the checking account!” But then where does “giving your friends money” stop? I do not know!

LS: Yeah! That actually seems to me to be a stressful situation to be in actually.

RP: It can be! I got married last year, and my wife is in grad school and is way, way, way better at not-spending-money than I am. She was able to save more money than me while making 1/3rd as much before we got married. So as a result, we did a big Finances Unifying thing, and now I have a monthly budget. Which is usable for, like, personal things, which includes buying people drinks and paying for meals. And that new budget is a tiny fraction of what I actually make per month. Soo as a result now I feel like I’m spending less on friends than I did, but also saving a lot of money to use for things like “maybe buying a house” or “not starving to death if I run out of contract work.”

LS: Do you friends make rich people jokes to your face? Do they constantly describe themselves as poor?

RP: Some friends are always describing themselves as poor, but I’ve also basically learned to never trust someone’s “emotional description” of how wealthy they feel. Everyone feels poor sometimes, and unless you know why they feel that way it doesn’t mean much! I don’t really get many rich people jokes, but that’s probably more because I am in an apartment and I just have one practical car. I know guys in my field that drive crazy-ass Audis and they definitely get a lot of “rich white dude” jokes.

LS: Do you think having money made you more mature? It seems like maybe not since you were so mature before. But … do you feel like you’re more mature than your friends without money? And is it the money that made you mature? Or are you more mature by nature and and … therefore have money? Can one be poor and mature?

RP: I am really hesitant to answer this just because, you know, what is maturity? But I guess I can say: I feel like everyone kind of has an “internal age” of what their brain acts like, and mine is definitely something around 32 years old. Has been for years! That said, if I lost my money tomorrow I think I’d still be mature, just way more stressed and worried and anxious, all of which acts to keep you from acting maximumly mature.

LS: Were you a rich person when you met your wife? Is your wife a rich person? I guess you are, collectively, now Rich People.

RP: She has basically seen a broad arc of my career. We started dating before I came to LA, so she saw me making no money on internships, then making a good amount and then in the last two years, when I went freelance, making A Lot Of Money.

LS: Can you talk about that transition? Was the money the reason?

RP: In part! There was a lot of shaking up at the company I was at. A lot of people leaving. The work wasn’t as satisfying as it had been when I started, and I had this buddy who was a contractor who kept saying he was making $600/day. Which I literally did not believe, but now, being out in the contractor world, is completely reasonable (“reasonable”). So to compare I was making… $78,000, I think, when I quit. I immediately jumped from that to six figures aaand have been raising my rate since.

LS: What small things changed when you hit six figures—anything? Did you upgrade to $20 bottles of wine instead of $10 or $15? Do you shop at J.Crew now instead of the Gap?

RP: My wife’s spending increased tremendously—she’s in grad school, so having disposable income changed her life a lot, in terms of material goods. For me, I mostly stopped caring about how much I spent on things like eating lunch out, or buying books and video games, or whatever. Furniture got a big upgrade, too, just cause all my stuff was Ikea moving-to-a-new-state stuff from four years ago. Switched up to Room and Board instead. (Privileged people sentences.) I also started spending money on fine liquors, and throwing parties for friends, because I like hosting and it’s a lot easier to do that when you can just buy $200 in alcohol without it being a big deal. Now I find I’m trying to ratchet myself back down to my sub-rich-dude spending so I can work on paying for a house eventually.

LS: Did you become a republican?

RP: NOPE. I’m proud to pay taxes. I am firmly of the… “jesus, that is a lot of money, who cares if the government takes some” family. And also, when you aren’t doing W2s, you start to realize how many things are actually luxuries that you can choose to spend money on or not, like, knowing what I spend on my vacation days, or being able to just take a month off if I like.

I might technically make “less money” doing that, but it is still a thing that has value, you know? There is more to being successful than the biggest paycheck. Ironically, getting a bigger paycheck is making me realize this.

LS: Do you describe yourself as middle class?

RP: NO NO NO NO NO. I AM RICH and I don’t LIKE having to say it, because this is AMERICA but I am definitely rich and that’s ok and maybe if I remember how lucky and good I have it I’ll be able to help other people more than pretending that I am just an average joe.

LS: Do you consider yourself part of the 99 percent? OR THE ONE PERCENT.

RP: I mean I feel like socioeconomically, I’m really in the one percent, but that if you are even willing to consider this, then maybe you can avoid the gross trappings of one-percent-ness? E.g. spending all your money on sending your kids to private school and then acting like this is a BASELINE NECESSITY, and thus calling yourself middle class?

LS: Do you do stocks and stuff? (“stocks and stuff”)

RP: My favorite big box retailer! We have money in retirement funds (Roth IRAs) and we have index funds. I know a lot of the guys I work with are stock jockeys. They do day trading shit and get real intense about like 2-hour get-rich-quick things in the markets. III… don’t. I’m young! I can make money over a long period of time. That said, we’re gonna be meeting with an accountant tomorrow to talk about incorporating. So maybe he’ll be like “go buy every stock” “build yourself a throne out of stock certificates”

LS: “Just buy the stock. All of it”

RP: “BUY! BUY!” he’ll shout.

LS: Is there anything else you have to say about being rich?

RP: Just that… if any of YOU dear readers become rich, work really really hard to remember that you are rich. Also, buy higher thread count sheets. They are WORTH IT.

 

This Particular Rich Person lives in Los Angeles. 

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129 Comments / Post A Comment

lizard (#2,615)

ehhh i dont think id categorize that as “rich”. rich is 500,000 or upwards to me

dotcommie (#662)

@lizard yeah but he’s 26. at this rate he’ll surely be making 500k soon.

i am now consumed with bitter class envy sitting at my nonprofit, and i don’t like it :( ( i mean that i find it to be an unappealing trait of mine, not that i dislike rich dude)

nevertooyoung (#961)

@lizard The NYT had a useful tool for this a while back. Based on that data, $500K places you well into the 1% nationally (cutoff for that is $383K). $140K is 11% nationally; 14% in LA. So I’d probably draw the line somewhere in-between.

TheDilettantista (#1,255)

@dotcommie I work for a non-profit too. An arts non-profit at that. And my boyfriend is back in school and will likely be so for a long time if all goes as planned (he’s in school for dental hygiene and wants to go to dental school once he’s done with hygiene school). That is A LOT of loans but, should dental school happen, all will be well when he graduates and makes lots of money helping people’s teeth. Right now I am feeling the grind though because non-profit salary that feasibly might have to support both of us some time in the future. Not sure what the plan is–I’ve been here a little over a year and hope to get another two-ish years under my belt before transitioning to another position on the non-profit ladder. Who knows. Point is, I feel your pain. Do you like your job though? I like my job, so that helps a lot.

KatNotCat (#766)

@lizard What would you consider this? Upper middle class or middle class?

lizard (#2,615)

@KatNotCat def upper middle class, maybe just middle if hes making the same but with a wife and 3 kids.

poptastic (#3,228)

@lizard yeah but as a freelance animator, you get good, and then you charge the amount of a good animator, it doesn’t increase exponentially for all time. So, the amount you earn as a good animator at 26 is not much less than you’d earn in 20 years time (assuming in 20 years the world hasn’t moved on to some kind of 4D cyber world that you have NO IDEA how to animate, and then you’re jobless… I work in the video industry and there are guys who were shit-hot cameramen in the early 2000′s who are now a bit second-choice meh because they didn’t grow up holding a 5D and all their training was on film not digital.) So yeah it’s rich for 26, but not necessarily forever… That was a bit longer than I intended, going to take my doom and gloom somewhere else now!

smack (#307)

@lizard completely agree. This is not “rich.” This is “upper middle class” and in LA, it’s just middle class. $140k annually as a contractor (so consider healthcare costs, taxes, etc) with ostensibly his wife making no money or 1/3 (that’s like, what, 50 grand?) still doesn’t take them to what I’d consider wealthy in LA, especially.

I completely agree that “rich” = income of 500k per annum or more.

He is really good at saving money, though. That is an impressive amount to have saved.

This_Rich_Person (#3,211)

@poptastic This is definitely true. My broad plan has always been “make as much money as early as possible, then figure out what to do next,” so if the bottom falls out of my career I’ve got a few backup ideas, slash I can always turn into a househusband.

@lizard, everyone else: Do you all really think that “rich” means “top .5% of income for your city”? That’s kind of extreme! I’d also point out that I can save this well because I have no debt, which doesn’t usually get factored into conversations about income. All of the “median income” numbers should also imply “median debt held.”

lizard (#2,615)

@This_Rich_Person yea i do actually. i dont consider you rich, sorry. you are comfortable but not rich to me.

@lizard Seriously, guys? He makes more than 89% of Americans (if the NYT is accurate), and you don’t consider that rich?

(Haven’t read the post yet, but) Logan Huntzbeeeeeergeeeeeeer! We hates him, we hates him so much!

(Okay, now I’ll go read the post.)

EM (#1,012)

@werewolfbarmitzvah Logan is the worst. Although really that show elies the reality that Rory is also crazy super rich, from a family so rich they build and name an observatory at Yale after her! (Or was it a conservatory?) That is the ultimate in Rich People activities.

Markovaa (#1,509)

@werewolfbarmitzvah @Michelle Logan was the best…. or rather he was the best out of all of the TOTALLY mediocre guys that Rory dated. Seriously, she couldn’t find a single decent guy at Yale? I buy her not finding decent guys at high school but I’m sure there are plenty of smart, nice, non-whiney guys who go to Yale.

EM (#1,012)

@Franny The only good, rich Logan on TV was Logan Echolls. END OF DISCUSSION.

It is so refreshing to read personal finance articles that actually have real numbers in them, like $78,000 and $140,000. I feel like so many financey articles are vague and therefore don’t/won’t talk about concrete things (LIKE NUMBERS) that actually help me think about my finances. (No, sir, I cannot cut out any more lattes from my day.) Good job, Billfold. Also, I really enjoyed reading this.

oiseau (#1,830)

@dj pomegranate Yes, why do no sites have ACTUAL NUMBERS. It’s so useful to have a concrete point of reference!

@oiseau I want a ban on personal finance articles that don’t include hard numbers. Especially articles featuring “real people.” Inquiring minds want to know how much these real people make.

chic noir (#713)

@dj pomegranate agreed. 150k sounds like a high salary that someone coming from a working class background can make if everything in life lines up properly.

nevertooyoung (#961)

A lot of how RP defines “rich” seems to boil down to “having enough money not to stress about money” – which is an extremely subjective thing. My guess would be that there are a fair # of billfold readers who are “rich” by this definition. Or to put it another way: I know people who make 50% more than RP, and don’t feel rich, because they do things (or did things) that a good billfold reader wouldn’t, that put them in the hole. On the flip side, RP here makes less money, but by using it reasonably wisely feels pretty secure about where he is financially.

@nevertooyoung yes to different definitions of rich. and that would have been a good question: “how do you define rich?” noted. but also! there is no “good” billfold reader! i think by your usage, almost nothing i do would be done by “a good billfold reader,” and i think it’s important to point out that there is no judgment here! i mean, there’s judgment, sure. but people who spend all their money are just as valid and wonderful as people who save it all and we love everyone.

WaityKatie (#1,696)

@Logan Sachon Can I be the “bad” billfold reader?? That would really make my day. I also spend all my money. Well, my creditors spend some of it on whatever the government plus banks spend on.

This_Rich_Person (#3,211)

@Logan Sachon Why hello again Logan! To answer this question – I’d define “rich” as “in the top 15% or so of income.” While I understand wanting to frame wealth as being subjective, I think that this is how you end up with people who make 400,000 dollars a clear claiming they’re middle class. Otherwise, large expensises like “having an enormous house” or “spending 30,000 a year on your kid’s private school” will make you FEEL like you have less money, even though you are very wealthy.

OhMarie (#299)

@nevertooyoung I like “having enough money to not stress about money.” My husband and I put together make about as much as this guy makes alone, but that’s enough that we don’t have to stress. We’re actually going to be buying a car in the next couple of months, and we can do that from savings without really noticing that the money is gone, which is a huge luxury.

honey cowl (#1,510)

@This_Rich_Person +1 Rich Person. Feeling wealthy might be relative, but it is definitely not actually relative. Thanks for being A Sane Rich Person.

@nevertooyoung I’m just going to say what I always say, which is that rich is an objective and not a subjective number. If you earn more than 95% of other people in the country you live in, you’re not middle class. Nor are you poor, clearly. Therefore: RICH!

ETA: Doye, the rich person himself already said exactly what I wanted to say.

I guess that’s why he makes the big bucks!

nevertooyoung (#961)

@This_Rich_Person Nothing makes me angrier than people in the top quartile (or especially top 5%) complaining about how they are “having problems making ends meet.” We’re on the same page there. (I wouldn’t even call “spending money on private school” an *expense*- that’s a *luxury*, as is living in an expensive city.) But that’s why we should be trying to drive policy based on hard numbers (“we should increase taxes on the top 15% of wage earners”) rather than on squishy feelings (“we should tax the rich”, which is what leads to our recent tax increase on almost exactly the 1% and not 10-15%ers like you and I).

@Logan Sachon: didn’t mean to be judg-y there- definitely not the right word to have used (and in fact I took out a lot of other value-laden words from my first draft of that comment). Just goes to show how hard this whole thing is :(

ellabella (#1,480)

@nevertooyoung Hold up, lots of rich people DO worry about money, and that doesn’t make them not rich. Maybe because they spend it without much thought (I’d imagine this skews younger), or maybe because they’ve established a lifestyle where a lot of there money feels inaccessible: mortgage, children in private school, etc. I don’t know if this means these people can fall into “having problem making ends meet” officially or not… But if your budget changes from rich-rich (say $500,000/year or something) to medium rich (like $300,000/year) and you have one parent taking care of your three kids in private school and your mortgage on your $1.5 million house and your parents in assisted living, you may feel (whether it’s valid or not) like you’re having trouble making ends meet. But you’re still rich, by any objective measure and a lot of subjective ones.

Faintly Macabre (#1,043)

@nevertooyoung My aunt married into a very rich family, and whenever she and my mom talk about finances (all the siblings help support my grandmother financially), she tries to act like money is tight. Except the reasons she gives are things like, “We’re still finishing the vacation house in Thailand.”

eliza (#3,161)

“Everyone feels poor sometimes, and unless you know why they feel that way it doesn’t mean much!”

This is incredibly true. The feeling of wealth or lack thereof has to do with so much more than what your paycheck says and what your bank balance is.

I make just under $100k, and my boyfriend earns $60k. I have debts, though – and am behind on savings – while he has a decent nest egg as a result of not taking on student loans and living very cheaply in the first few years of his career. I would say that overall we consider ourselves equally rich.

For me, crossing the threshold to feeling “rich” happened when I got to a point where I could handle day-to-day and unexpected expenses without much inconvenience. Like the interviewee describes, I could stop paying attention to the cost of my meals and impulse purchases, and if I had to make a copayment at the dentist a few times during the month it wouldn’t upset my budget. Part of this was the transition from a salary in the 50s and 60s to one in the 90s, but an equal part of it was just getting control of my finances in general: having an emergency fund, being on an accelerated loan repayment schedule, building up my retirement savings, etc.

There is a certain chicken-and-egg component to this, though. Being financially responsible is much less work when you make more money. I can honestly say that I got my financial act together over the past couple of years with almost no pain or sacrifice, which would definitely not be the case if I earned less.

@eliza Yeah, getting married took me from the bottom third to the top 15%. (I’m also now co-responsible for six figures of student loans when I previously was $0 in debt.) We save A LOT, though, so my lifestyle hasn’t changed at all. It’s weird getting used to the idea of being undeniably well off (tiniest violin, I know, not complaining).

Ophelia (#2,171)

@TheclaAndTheSeals This is exactly where I am, too, except for us, it was that we lived on my mid-range salary (work for a gov’t contractor) while my husband was in law school, and once he graduated, we now have not only a dual income, but one piece of it is big. That said, we pay the equivalent of rent a second time each month to cover his loans, and moved to NY, which is more expensive than DC, where we lived before. Overall, we’re definitely in the “rich” category based on what we earn, but paying off loans and trying to save now that we can means we don’t live any differently than we did before.

readyornot (#816)

@eliza @TheclaAndTheSeals @Ophelia I agree with all of this and am similarly situated. I was the main income earner while my husband was in law school, then he graduated, I went to grad school, we got married, and the roles flipped, and “one piece is big.”

I find what Eliza said to be completely true, that it’s easy to get your financial house in order when incomes are cushier. I also think both of us somehow sat up and took notice – like, whoawhoa, there’s real money on the table now, best not screw this up. Whereas before, on my salary, we totally could have done some retirement saving or planned medium-term expenses, and we just didn’t. The serious salary gave us a strange sense of responsibility.

Ah, I know I’m late to this thread but this is basically about to be my situation too. I’ve been married since my husband was in med school making no money at all and now he is about to finish residency (residency is not really great money, but better than zero) and I went to grad school and work full time now too. So our combined income now is pretty comfortable, but still definitely middle class, especially since we live in an expensive city. But we’re about to move and he will start making real doctor dollars and it will more than double our income overnight, even without me working. But I do plan to find a job in my field which will probably mean a raise for me as well. So it’s like suddenly, I’m planning our budget for the next year and I have to really start thinking about managing money and financial planning. It feels so weird, but I am very grateful that we’ve had so much support in getting to this point.

emmy (#324)

Good interview topic, but I have to say, the cutesy style of writing on this site is driving me bonkers. For example, the capitalized phrases (“friends who make A Lot More Money Than Me”), baby-talk (“infinite money”), all-caps (“INFINITE MONEY”), etc. I can’t handle the internet-speak anymore. Can some of the articles just be written normally? I think we can all handle an eighth-grade reading level.

zou bisou (#1,637)

@emmy I agree! I hate it so much. Logan goes overboard on it.

honey cowl (#1,510)

@emmy Girl, if you don’t like The Capitalized Letters, you don’t have to read ‘em! :)

olivia (#1,618)

@zou bisou Co-sign! The Hairpin does this too. It was fun for a while but now I just want sentences to end with periods if they should, not questions marks to be cute.

emmy (#324)

@olivia Yup- that’s where it first started bothering me.

josefinastrummer (#1,850)

@Lauren So we should just shut up and go away? Maybe the Billfold wants to know what it’s readers think and want to read, and it’s not cutesy up speak.
I think Mike Dang does a pretty good job of writing for “normal” readers.

honey cowl (#1,510)

@josefinastrummer Tongue in cheek intended! Never shut up & go away. We would miss you!

OllyOlly (#669)

@emmy As a dissenting opinion, this is how I would have an conversation with one of my friends, and I enjoy an often dry subject (personal finances) being put out in an approachable way for me personally. But I can understand the other side as well.

TheDilettantista (#1,255)

@olivia I’ve been noticing this for awhile too? And then I started noticing that I was doing it? So now I’m trying really hard to cut back on it? Because periods were invented for a reason? Maybe it is an Awl family style thing?

Seriously though, I do agree with Josefinastrummer down below that Mike Dang does a good job of balancing the tone, and at least I don’t need to look at the byline whenever I read Billfold articles; I can recognize Logan pretty immediately.

xxAnniexx (#1,137)

@emmy Bummer! Logan’s voice (including her liberal use of caps) is on my Top 5 Favorite Things About the Billfold list.

josefinastrummer (#1,850)

@Lauren Sorry! Until I get caught posting during work, I’m not going anywhere. ;)

honey cowl (#1,510)

@xxAnniexx Me too, I agree with @OllyOlly. This is How I Talk so it is nice to see the conversational style I use with my friends. Plus good ol’ Mike Dang provides a nice counterpoint!

honey cowl (#1,510)

@josefinastrummer Yeeeeeeah I tried to convey that with a smiley face & FAILED. ;) :) :D :P :! :$

BananaPeel (#1,555)

@emmy My two cents — I like the writing style. It makes this potentially-serious topic feel more accessible.

@TheDilettantista I heard on a podcast recently that this style of writing was single-handedly invented by Choire Sicha, so.

TheDilettantista (#1,255)

@stuffisthings Interesting. Thank you for sharing. I had to look that person up but managed to keep my browsing to just one page–huge k-hole possibility there.

inspector_tiger (#2,651)

@emmy For me, the writing styles here are one big plus of the billfold. They’re relatable and I like that you can recognize each writer by his/her unique style.

aetataureate (#1,310)

@emmy I think almost all the qualities you’re disparaging here are ways people add emphasis in interfaces where it isn’t easy to apply bold, italics, etc. I assume these “friendly chats” come from Gchat, where you animate language as you please.

amyfrances (#1,522)

@stuffisthings If it was on a podcast, it must be true!!

(I am mocking, but with love. Love for podcasts.)

emmy (#324)

@aetataureate I understand that in a g-chat context, but I assume there’s some light editing of those conversations before they’re posted here, on what I think is a generally well-written website. I would expect that editing to include the removal of unnecessary emphasis and the other things I pointed out. A g-chat isn’t a blog post.

@emmy It’s a fine line, right? I tend towards INSANELY ENTHUSIASTIC GCHATS myself, so when I sometimes pare them down for things like this, I feel like I’ve taken most out and then what remains is… too much shouting. Heh. But comparatively much less!

aetataureate (#1,310)

@emmy Unnecessary is in the eye of the beholder. Team Capitalization. (I also think that well under half the posts on the site fall into this category — the others are more restrained. That’s why these pop!)

TARDIStime (#1,633)

@olivia To my Australian eyes/ears, the period and the question mark are interchangeable when it comes to ending a sentence, so Logan is basically every woman I know.

Slutface (#53)

@TARDIStime I get annoyed when women talk like this in real life. It makes them sound stupid and when I read things written this way, the vocal-fry comes oozing off the page. I always imagine these posts are written in a high school cafeteria somewhere.

amirite (#2,677)

@BananaPeel I like the writing stye too. Never change, Billfold!

r&rkd (#1,657)

@stuffisthings
“Invented” means non-proprietary, then, right? Because I don’t know how else to write anymore!

melis (#42)

@Slutface yeah why can’t women talk NORMAL like men do why can’t they sound SMART AND NORMAL like the normal smart way men talk with their business mouths

melis (#42)

“Yes.” “Hurm.” “Slightly, but less!” “Oh, haven’t.” “Declaratives.” “Boarding school, immediately!” “Accounts.”

Slutface (#53)

@emmy nope not even close to what I said

melis (#42)

“Truffles and Entourage at the boat house, thighs.” “Multidirectional, disruptive weight-lifting.” “Bootstraps.” “I’m disappointed.” “Roughly hewn.” “More paths, also.” “Eye contact.” “Bootstrap polish.”

aetataureate (#1,310)

@melis Getting carpal tunnel from all the thumbs-up-ing.

melis (#42)

“Tom Waits.” “Bluesy, with oak humidor death.” “Trees.” “Majestic!” “Communal table.” “Walk firmly.” “No, I haven’t any hips. How dare you.” “Sable. Artisanal. Gorge. Salted.” “Gender. Gender. Gender. Gender. Gender. Gender. Gender. Gender. Genderdegenerd.ergender gender gender gender gender gender gender gender gender gender gender gender gender gender gender gender gender gender gender gender gender gender gender gender gender gender gender gender gender gender gender gender gender gender gender gender gender gender gender gender

@melis Funny, I was just having this same conversation with my old fraternity brothers down at the country club.

melis (#42)

Good start but “Funny” and also commas are very feminine (or “weak and gross” to get specific) vocal tics. Fix immediately.

lizard (#2,615)

@melis why are you attacking that commenter for a valid point? that is really immature

aetataureate (#1,310)

@lizard (and, everyone I guess) If you honestly don’t understand the sexism involved in the debate over vocal fry, maybe you should do some reading.

Slutface (#53)

@aetataureate This is the first I’ve heard of sexism being involved with vocal fry, so yes, I guess I do need to do some reading. But there wasn’t any sexism in my comment at all. I’m really put off that Mallory attacked me like this for no reason so I’m just going to stop reading and commenting on this site period because it’s not the first time she’s done this to me. If she would’ve explained vocal fry and sexism instead of attacking me, I would feel differently. But like I said, this isn’t the first time she has done this and I’ve seen it happen to others. I don’t read and comment here to be attacked. I didn’t realize this was Gawker.

lizard (#2,615)

@aetataureate vocal fry is just an annoying thing that some women do. why does it have to be some huge sexist deal to say its annoying? its like a valley girl voice.

EggsErroneous (#855)

@josefinastrummer I read this article earlier this morning and was thinking RP sure uses a lot of exclamation points, I wonder if during the interview Logan was picking up on him being a really happy or excited person, open to talking about his life. And now I’m reading the comments here thinking wow I shouldn’t remark on how exclamation point happy RP or the writer is because daaaaaang observation/criticism line so fine here and successfully conveying tone or earnestness in internet comments not my forte.

mczz (#569)

This is so interesting! One thing I’m curious about is how do rich freelancers do retirement savings?

This_Rich_Person (#3,211)

@mczz I can’t speak for every freelancer, or really for fields that aren’t mine. In my case, I’ve got a line item in my personal budget to set aside money for retiring. Right now that’s just the max contribution to a Roth IRA (so 10,000 for me + spouse), and then we also are hoping to set up long-term savings that can just gradually morph from “buying a house” money to “kids’ college” money to “retirement” money.

mczz (#569)

@This_Rich_Person that makes sense. Thanks for answering!

diz (#3,212)

@This_Rich_Person FYI – the IRS changed contribution limits for 2013 and it’s now $5,500 per person (so $11K for both of you).

http://www.irs.gov/Retirement-Plans/Plan-Participant,-Employee/Retirement-Topics-IRA-Contribution-Limits

This_Rich_Person (#3,211)

@diz BIG MONEY (thanks!)

cryptolect (#1,135)

@This_Rich_Person Also, I think the SEP-IRA limits (SEP-IRA = IRA for freelancers) are much higher, if you want to sock away a lot of money right now.

BuffyBot (#189)

@mczz Unrelated question, and I’m sorry if everyone gets a notification. But are your initials MCZ? Because, if so MINE ARE TOO.

eraserface (#1,628)

And here I was thinking I was pretty well off with a combined income of about 80K between me and my husband (and my husband is in grad school). Gonna go back to feeling guilty about my $8 lunch last week.

This_Rich_Person (#3,211)

@eraserface Don’t feel guilty! You’re doing great!

TARDIStime (#1,633)

@eraserface The only prequisite for feeling well-off, is to feel well-off.
If you still feel well-off after that $8 lunch and you guys can afford it while paying for all your needs, I’m going to echo This_Rich_Person’s sentiments here: You’re doing it right!

julebsorry (#1,572)

I’m really surprised by how similar our stories are. This year, my husband and I went from making sub – $100k yearly (combined) to about $180k, and we’ve recently:

- Helped a family member get her car fixed (and yes, it was a bad idea)
-Bought new furniture to replace/upgrade our crappy ikea stuff
-Upgraded to better booze
-Throw parties for friends
-Take nicer vactions
-Make much bigger 401k/IRA contributions
-Been surprised at our W2 tax rate but still don’t complain b/c hey, we should be so lucky to pay so much in taxes.

We’re in NYC, so we still don’t really feel rich just because of all the wealth that constantly surrounds us (and continuing to live in a Jr 1 in Queens contributes a lot to this feeling, I think, but I love how cheap it is). This article is a good reminder of how incredibly fortunate we actually are…it’s pretty amazing to not have to stress about bills like we did when we first set out.

TheDilettantista (#1,255)

Rich Person — What do you do for benefits? Do you buy them on your own? It looks like you keep up with your own retirement contributions so I’m assuming that that is 100% all you making it happen. When you were working full time for a company did that do a match? Basically my questions encompass all those little things that working full time at an organization can get you–health insurance and retirement assistance–and how you’ve handled that since going freelance.

Thanks!

This_Rich_Person (#3,211)

@TheDilettantista My company shut down there 401k program a year after I joined them. They also bumped up my health insurance contributions two years into the job. This is part of why I left to go freelance.

Once they bumped up my insurance, I ran the math to see what it was costing them/me, and what it’d cost to self-insure. The swing was about 5000 more dollars spent on insurance per year, which is a bummer but is also far less than the money I’m making. I actually went through an insurance broker for a while, which is a real job that exists, and he got me on some solid individual insurance. Then I got married, and now I’m on my wife’s school’s insurance. Marriage!

My personal experience has been that you get about 25% extra in little things – vacation days, health insurance, 401k matching – when you’re staff. I make about double what I was making when I quit, so it works out for me.

TheDilettantista (#1,255)

@This_Rich_Person Thanks for sharing. Interesting especially regarding vacation days, but I’m guessing that when you are self-employed you are more motivated to work work work and get things done. However, choosing your own schedule is likely a huge benefit.

This_Rich_Person (#3,211)

@TheDilettantista Yes. And I know people who choose to make less money, and just work 2/3rd of the year. If their rates are like mine, they’d clearly still be pretty well off! I’m too high anxiety/type A to do that though. If I stop working for more than a week I get jittery.

BananaPeel (#1,555)

The question about shopping at JCrew instead of the GAP made me laugh because I have always said that I’ll know when I’m financially set when I buy something from Banana Republic that’s not on sale.

olivia (#1,618)

@BananaPeel I would qualify as rich based on me and my husband’s combined income, but I can’t bring myself to buy anything from Banana Republic that’s not on sale. Or anywhere, actually. I worked retail for way too long and got spoiled by discounted clothing. Plus Banana Republic always has sales where you can get 25% off full price items, etc.

Faintly Macabre (#1,043)

@BananaPeel My sister and I still talk dreamily about one day having enough money to buy clothes full-price at places besides H&M. At this point, though, I think only buying things that are at least 60% off has been totally ingrained in us.

BananaPeel (#1,555)

@Faintly Macabre Yeah I would have to have a lot of money before I would stop bargain-hunting, turns out!

TARDIStime (#1,633)

@Faintly Macabre Yeah, I don’t think “rich people paying full price for things” is a thing.
All the comfortably well-off (wouldn’t want to insult them by calling them rich) people I know never pay full-price for anything; they are voracious bargain-hunters and hagglers.
I think this is part of how rich people stay rich – they never pay retail.
Most of my family are comfortably well-off and they speak about my Nanna (“rich”) like she’s crazy for not spending all of her money, all of the time, why doesn’t she ever offer to pay for all our lunches/dinners?
It pisses me off because she’s paying for her own retirement and it’s HER MONEY, let her spend it how she wants, you sick inheritance-watchers!

nutmeg (#1,383)

@BananaPeel I got a cashmere J. Crew cardigan for $2.50 (50% off because I had a scratch-off coupon!) at Goodwill a year and a half ago and I still talk about it because CASHMERE and J. CREW and $2.50 (and Goodwill)

AlliNYC (#1,725)

@olivia Same! I can now AFFORD to buy things full-price at Ann Taylor… but I was raised to never do such a crazy thing, why on earth would I do that? My cultural heritage is one of frugality, and my immediate family has been broke for the last 10+ years. Add to that the fact that I was barely/minimally employed for a while, and after that working shitty jobs for shitty pay where I could barely afford to pay rent AND buy groceries in the same month… So now that I finally have shopping-spree money, I still typically take it easy.

Nothing will ever compare to last winter, when my mom asked me what I wanted for Christmas, and I was struggling so hard just for my “needs” that I couldn’t summon up one single thing I “only” wanted. That was depressing. Thank goodness things have turned around a bit!

themegnapkin (#444)

@nutmeg I bought a fabulous fuschia-colored $8 cashmere fancy-schmancy winter coat at a thrift store 12 years ago and I still talk about it because it is the best, ever!!

@AlliNYC @all yeah, as my income and need/desire for nice clothing have risen together, I’ve just switched to buying sale clothing from more expensive stores. Now and then if there’s something I really fall in love with, I will buy it full price, after having been burned multiple times by waiting on something and then missing it forever when they sell out of my size.

I’m probably just romanticizing the ones that get away, but I am so incredibly picky about my clothing that I think I need to be a little more proactive about getting clothing I’m truly happy with and not just what is good enough when I’m looking for something specific.

zwetchke (#3,213)

This was a great interview! I generally find “The Rich” hard to like or relate to, but Rich Person seems like such a sensible, fair-minded and decent guy. Really interesting read.

amyfrances (#1,522)

Maybe one of my favorite Billfold articles EVER!

THIS QUOTE: “If I lost my money tomorrow I think I’d still be mature, just way more stressed and worried and anxious, all of which acts to keep you from acting maximumly mature.” Money really, really makes life easier, and if life was easier and I was less worried/unsatisfied, I think I’d perform better at work. Better everywhere, really.

Also, this is such great proof that a lot of very talented, successful people found their passion in high school and really worked at it. Which sucks, because in high school I liked John Cusack movies and bowling, and I didn’t realize that I was fucking over my career by having the wrong hobbies.

EM (#1,012)

I think everyone likes A Rich Person who is recently rich by virtue of their work ethic and interesting job- this was a good interview about what it’s like to earn lots of money with the perspective of not always having had lots of money. It would also be fun though to read about a Logan Huntzberger type who has been straight ballin’ from birth. Like, tell me about your stables and your private jet.

readyornot (#816)

I’m so glad that this feature which was in the works actually happened, especially because This Rich Person is such a down-to-earth, thoughtful, articulate interview subject. If there are future installments, I would love to hear about social interaction with rich people who don’t have the same frugal outlook. Lifestyle peer pressure? I felt SO WEIRD the first time I went to an official function at my husband’s fancy law firm.

squishycat (#3,000)

@readyornot I grew up middle class, and my boyfriend grew up rich (not like, private jet rich), and currently makes what I see as a ridiculous amount of money for someone his age. He earns it – he has dual Masters degrees in his field, is good at what he does, and works hard, but it does kind of skew perspectives on money. His friends are basically the same (they’re all in the same field), but prioritize things in a way that seems utterly bizarre to me. For example, I convinced my boyfriend that buying quality cookware and knives is a good investment (I learned this from my parents, who have had the same set of knives for 30 years), which apparently is baffling to his friends, who still buy their pans at Ikea (mostly, I think, because they only cook on “occasions” and not regularly for normal meals), but we went on a weekend ski trip with several of his friends, and one of the other women went and bought herself an extra fleece pullover because she got cold and wore one a day before she intended to. Bought it at the overpriced ski resort shop, when there was a washer and dryer in the house we were renting. (They do buy expensive kitchen things like those one-touch coffee/espresso makers. Whatever.)

TARDIStime (#1,633)

Can the Billfold have a regular AaRP (Ask a Rich Person) column with This_Rich_Person doing the answers?
He’s down-to-earth and has come from the same (financial) place as where a lot of Billfold readers are from, I think.
I would love to hear his answers on a lot of subjects because he doesn’t talk down.

Slutface (#53)

@TARDIStime Me too!

@TARDIStime Me three.

I also want a regular column called Ask a Balls Rich Person with someone who can answer questions like, “How do you find a good captain for your yacht?” and “What’s it like to spend $50,000 impulsively and not miss it?”

This_Rich_Person (#3,211)

@TheclaAndTheSeals It’s best to find a helicopter broker rather than buying one on your own. #RichDudeTip

dudeascending (#1,921)

Also chiming in to say that I loved this article, although, like some other readers, it also made me question my life choices. Uh, damn. I’m kiiiind of a financial loser.

It doesn’t bug me enough to stop reading, but yes, the cutesy writing on The Billfold (with the tongue-in-cheek parenthetical asides) (OR WORSE, DOUBLE PARENTHETICALS… IN CAPITALS!) is irritating. Once in a while isn’t so bad, but it seems like every single day, someone is being just So Terribly Droll. BECAUSE MONEY.

nutmeg (#1,383)

I find this kind of article fascinating! Like, my parents are pretty-much-rich (I think they prefer “well off” or “upper-middle-class”) but because I depend primarily on them (and government loans, and my part-time job) for rent/tuition money, I consider myself always kind of broke. Then there’s my boyfriend, who has a lucrative government job (GO INTO ENGINEERING, seriously) and we’ll go out to the bar and he’ll ring up a $50 bar tab without really thinking of it, while I would do the same and be extremely concerned, because, my parents’ money!! I’m curious about A Rich Person’s wife, actually, because of this- this is the first time I’ve had such an extreme income disparity with a partner (my first two boyfriends made more money than me, but considering I made ~$6500 last year that is not difficult) and I need to know how this situation works!

squishycat (#3,000)

@nutmeg I can tell you how it works for me (though I’m not married) – At first I was very, very stressed out about it, and kept trying to pay for things that I could technically afford, yes, but which totally messed up my budgeting. Eventually I managed to (mostly) stop stressing about it, because it was clear that my boyfriend didn’t care about the money, and his logic – that he was paying to do things he enjoyed with a person whose company he enjoyed, and if we tried to stick to things I could afford/afford half of, we wouldn’t get to do nearly as many of those things – was sound. Since we’ve moved in together and our finances are only partially mingled, the agreement is this: I put a fixed percentage of each paycheck into our joint account. I am responsible for my personal expenses – clothing, unshared toiletries, medical copays (he forwards me money if I need it, but I always reimburse him when I have the money), going out without him, etc. Rent, utilities, and groceries get paid out of the joint account, though most of the money comes from him (rent and utilities for the two of us are not much more than he was paying when he lived alone), though sometimes I’ll use my personal money to pay for groceries if I stop at the store on the way home. I also do most of the cooking and, since I work and go to school part-time, have more opportunity to do chores around the apartment, though honestly it ends up being a pretty even split. Since we *aren’t* married, and don’t have any children or any long-term joint financial ventures, I don’t have access to or much information about his finances outside of the shared account – I know approximately how much money he makes and have an idea of what’s in his savings account and what’s in his retirement account, but I consider it none of my business (I think if I asked, he’d probably tell me about his investments etc., but until we’re either married or looking into making some sort of big purchase together, I’m not going to).
Sometimes I have to remind him that I can’t afford to do something, because it would require buying gear/equipment I can’t afford (when we went skiing he paid for my ski rental and lift ticket, and I borrowed a lot of clothing from parents, and borrowed a little money from my father for other things I needed to purchase), or taking time off of work I can’t afford/can’t ask for. Sometimes that means we don’t do things we’d like to. Sometimes it means I borrow the money from him or my parents, if it’s less than $100. If I say I’m going to pay him back, I do, and I stick to the agreement about things that are my responsibility to pay for – it makes me at least *feel* like I’m pulling my weight.

dudeascending (#1,921)

Too late to edit my comment, but I want to hear from Rich Person’s wife because it’s fucking awesome that she was saving more than him on 1/3 of his salary.

TARDIStime (#1,633)

@dudeascending I am also waaaaay impressed by this!

Megano! (#124)

Well, I am never gonna be rich.

This_Rich_Person (#3,211)

@Megano! You never know! Maybe you’ll realize in a few years that all along you’ve wanted to be a [copyright lawyer/statistician for a major insurer/real estate mogul]

Megano! (#124)

@This_Rich_Person I think the most likely scenario for me is “Get really drunk and pen the next Twilight/50 Shades of Grey.”

leafyseadragon (#2,974)

@Megano! if i get to go on a cruise once i’ll die a happy woman. wealth or no!

cdarcy (#695)

What the hell is a “savings account?”

Clare (#2,138)

@This_Rich_Person:

Since you’ve been so candid, I want to ask you about how you handle the actual logistics of getting paid by your clients. I assume you are a vendor for most of your clients. Do they pay you monthly? Bi-monthly? Direct deposit or do they cut you a physical check? Do you put aside a chunk of each payment for when the tax bill comes due at the end of the year?

This_Rich_Person (#3,211)

@Clare Hah. They pay me when they get to it. Most of them are net 30, so I get a check 30 days after I invoice. All of them mail me checks, although I think some have given me the option of doing direct deposit and I just didn’t take them up on it. I set aside most of my check for long-term savings, which includes stuff like year-end taxes, mostly by not putting it in the checking account I use for day to day expenses.

However, I just saw an accountant, and soon I will be incorporating, which means all my clients will pay my company, and I’ll draw a paycheck from my company as an employee. Much simpler.

This gave me a panic attack: TRUE OR FALSE?

This_Rich_Person (#3,211)

@Mike Wachs@twitter FALSE

leafyseadragon (#2,974)

I felt like the richest person in the world last year when my husband got a new job and was making $65k which was an upgrade from the 52k he had been making (starbucks? YES PLZ! a tshirt with budgeting it?!). Of course, said company laid him off and then we proceeded to live off of that for 7 months. wealth is so subjective, and after being so flush and then crashing i feel that more than ever. my inlaws pull in 2 mil a year and say that they are “doing ok”.

JenH (#3,229)

How you define rich depends so much on where you live. My husband and I gross around $280K a year. We have one child in public school and a VERY modest townhouse in the Washington, DC area that cost a ridiculous amount of money for what it is. His car is a 10 year old VW Passat, mine is a base model Honda Fit that’s 4 years old, still not paid for, and has a huge crack in the windshield. I’m still repaying student loans. I’m not complaining – we’re certainly not struggling – but we live pretty frugally just to keep from going into debt. The thing is, when you live in an area where the cost of living is more than 40% above the US average, a quarter million dollars a year doesn’t really go that far.

CmdrBanana (#1,872)

@JenH Ugh, DC. I feel like I’m caught in this horrible Catch-22 where I stay in DC because the jobs are here and am broke because I pay so much to live in DC and don’t move away because the jobs are here and wash, rinse, repeat. I’m starting to loathe this area and fantasize about moving away.

This_Rich_Person (#3,211)

@JenH I hear you, but DC is the same cost of living as LA. I think part of the problem, as I mentioned up top just now, is that debt is not considered when talking about income. We should probably be talking about debt as part of conversations about income. (I’d love to see how the “you make more with a bachelor degree” data works with average student loan debt, for instance.)

jenfizz (#100)

@JenH This sort of thinking just makes me want to slam my head in a car door. You make more than 85% of Americans and 99.9% of people in the world. That makes you rich. Rich does not mean never having to think about money.

@jenfizz I want to buy you a $2 PBR. :)

Leslie (#423)

One of the things that bothers me about this article (and often about this site in general) is how often they talk about rich people being “lucky.” I understand that there are some people out there who got their wealth by chance, but this guy doesn’t seem to be one of them.
“I put a ton of work into figuring out how to make a career out of what I liked.”
“I went to a small state school nobody’s heard of, who paid me to keep my GPA over 3.25,”
“I did about six years of school work in four years.”

This guy obviously worked HARD. He wasn’t just dicking around all of his twenties and then stumbled into a pile of cash.
The thought that we can only obtain wealth through “luck” is a very self-destructive way of thinking, and I hate how The Billfold spreads that idea. It may relieve you of feeling responsible for your poor financial situation, but also takes away any control for you to turn it around.

If you think that luck is the only way people get rich, you are never going to get there yourself.

verifiedname (#5,054)

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