Where you do live and what is considered rich?

  • Christian Chat is a moderated online Christian community allowing Christians around the world to fellowship with each other in real time chat via webcam, voice, and text, with the Christian Chat app. You can also start or participate in a Bible-based discussion here in the Christian Chat Forums, where members can also share with each other their own videos, pictures, or favorite Christian music.

    If you are a Christian and need encouragement and fellowship, we're here for you! If you are not a Christian but interested in knowing more about Jesus our Lord, you're also welcome! Want to know what the Bible says, and how you can apply it to your life? Join us!

    To make new Christian friends now around the world, click here to join Christian Chat.

jacko

Well-known member
Sep 2, 2024
725
410
63
#1
I live in Los Angeles, and housing is very expensive. I'm fortunate to own my home with a low mortgage and a good interest rate.
However, living costs are ever increasing a 2,500 square foot home in the SouthBay area of Los Angeles County is now $2 to $2.5 million dollars to give you an idea. Rental housing is even more crazy, like a 2 bedroom apartment rent might be $3,000.

how much money do you think you all think you need to retire these days?
 

Lynx

Folksy yet erudite
Aug 13, 2014
27,134
9,230
113
#2
I live in Los Angeles, and housing is very expensive. I'm fortunate to own my home with a low mortgage and a good interest rate.
However, living costs are ever increasing a 2,500 square foot home in the SouthBay area of Los Angeles County is now $2 to $2.5 million dollars to give you an idea. Rental housing is even more crazy, like a 2 bedroom apartment rent might be $3,000.

how much money do you think you all think you need to retire these days?
Shoot... To retire? To know that for certain, I would have to know how many years I have left. Also what inflation will do during those years. And what my health will do in those years.

The best any of us can do is try to save enough and hope it lasts as long as we do.
 

Lynx

Folksy yet erudite
Aug 13, 2014
27,134
9,230
113
#3
I would recommend getting out of Los Angeles though. At least when you retire. Living there in your golden years is a very tarnished brass way to live.

Come over to Tennessee when you retire. We are friendly and the cost of living is dirt cheap. Well, relatively.
 

Magenta

Senior Member
Jul 3, 2015
59,735
29,094
113
#4
I live in Los Angeles, and housing is very expensive. I'm fortunate to own my home with a low mortgage and a good interest rate.
However, living costs are ever increasing a 2,500 square foot home in the SouthBay area of Los Angeles County is now $2 to $2.5 million dollars to give you an idea. Rental housing is even more crazy, like a 2 bedroom apartment rent might be $3,000.

how much money do you think you all think you need to retire these days?
It is much the same here, though the 2.3 million dollar house would be in a suburb.

Rentals are crazy expensive here also = one bedroom apartment, at least 2K a month.
 

jacko

Well-known member
Sep 2, 2024
725
410
63
#5
I would recommend getting out of Los Angeles though. At least when you retire. Living there in your golden years is a very tarnished brass way to live.

Come over to Tennessee when you retire. We are friendly and the cost of living is dirt cheap. Well, relatively.
eventually I plan to move to South America with brother who lives in Columbia. But my parents live nearby and they are in their 80s and my kids are still young so maybe after they move out of the house and are in college. That's another 8 to 10 years and my wife should be retired as well.
 

Tall_Timbers

Well-known member
Mar 31, 2023
1,113
1,202
113
68
Cheyenne WY
christiancommunityforum.com
#6
However, living costs are ever increasing a 2,500 square foot home in the SouthBay area of Los Angeles County is now $2 to $2.5 million dollars to give you an idea. Rental housing is even more crazy, like a 2 bedroom apartment rent might be $3,000.
I'd say the 2-2.5 million for a small home is crazier than a 2 bedroom apartment renting for $3000. Just the interest on the home loan absent insurance and basis and upkeep is more than the apartment rental. I'd take the apartment.

When I was a kid if a person had a million bucks they were considered wealthy. I figure an equivalent figure today is 30 million. Anything less than that and you may be better off than most but you're not rich. If I had 30 million dollars I wouldn't live where a tiny house costs 2.5 million. I'd find a lower cost of living area and live large and comfortably.

To retire, a few million might be enough to get me through my remaining years. I don't need to be rich, just comfortable.
 

Tall_Timbers

Well-known member
Mar 31, 2023
1,113
1,202
113
68
Cheyenne WY
christiancommunityforum.com
#7
eventually I plan to move to South America with brother who lives in Columbia. But my parents live nearby and they are in their 80s and my kids are still young so maybe after they move out of the house and are in college. That's another 8 to 10 years and my wife should be retired as well.
I lived in Santander del Sur, Colombia, for a couple of years, not too far from the town of Barbosa which is on the Panamerican highway. The only problem with Colombia is the rule of law being absent... but then I guess that's been lost in the USA too. Maybe we'll see a little rule of law return to the USA beginning at the end of January next year.
 
Aug 3, 2023
588
247
43
Long Beach, CA
#8
Long Beach, California but I grew up in Orange County and went to high school in Villa Park, California. When I graduated high school in 2006, Villa Park had the highest earners per household in the United State. When I was born I’d consider my family rich when my grandfather was alive. Our old house in Spyglass Hills, Corona Del Mar, Newport Beach, California is now worth around 16mil. We live a lot humbler life now in comparison.
 

NightTwister

Well-known member
Jul 5, 2023
2,081
778
113
65
Colorado, USA
#9
I escaped from California in 2000 and never looked back. I had planned to retire here in Colorado, but unfortunately it's becoming more like California every year.
 
Aug 3, 2023
588
247
43
Long Beach, CA
#10
I escaped from California in 2000 and never looked back. I had planned to retire here in Colorado, but unfortunately it's becoming more like California every year.
Every time I leave California to visit another state, it’s like the weight of the world falls off me and every time I take that plane ride back, the weight of the world come right back on me. I always wanted to leave but I think God has me here for a reason, to fight the good fight. I’m willing to suffer until death if it’s God’s will for me.
 

Karlon

Well-known member
Mar 8, 2023
2,488
1,108
113
#11
we live in the saratoga n.y. area. in my opinion, rich is at least $3,000,000.00 (net). we are supporting 3 houses; the 1 we mostly live in, the vacation home on the lake & a 3rd home. taxes are quite in n.y.
 

jacko

Well-known member
Sep 2, 2024
725
410
63
#12
we live in the saratoga n.y. area. in my opinion, rich is at least $3,000,000.00 (net). we are supporting 3 houses; the 1 we mostly live in, the vacation home on the lake & a 3rd home. taxes are quite in n.y.

Yeah, 3 million in NYC is a lot different than 3 million in Wyoming.
 

jacko

Well-known member
Sep 2, 2024
725
410
63
#13
Long Beach, California but I grew up in Orange County and went to high school in Villa Park, California. When I graduated high school in 2006, Villa Park had the highest earners per household in the United State. When I was born I’d consider my family rich when my grandfather was alive. Our old house in Spyglass Hills, Corona Del Mar, Newport Beach, California is now worth around 16mil. We live a lot humbler life now in comparison.

Why did your parents move? Newport is pinnacle of So Cal.