tenmagnet - 28 July 2008 03:10 PM

ipoplaya - 28 July 2008 02:51 PM

I hate the food at Buca.  We took a bunch of friends there to sample the food as a precursor to selecting a site for our rehearsal dinner.  I think two or three people ended up with stomach aches the next day…  We went with Tommy B’s instead.  The outside patio there is a nice place to have a group dinner.

Just working the jab on you, where’s Tommy B’s?

Tommy Bahamas dude…  PCH and MacCarthur.

Last time I was there for drinks I ran into Graph shoppin’ for some clothes.

ipoplaya - 28 July 2008 02:56 PM

Quite right Tenster.  I only put down $50K and it has produced quite a nice return… 

With our HELOC, we didn’t buy lifestyle, we bought life.  The HELOC funded years off work for the wife to be with the babies after they were born while still allowing us to max our tax-deferred investment savings and live comfortably.

No surprise, pretty much anyone who bought in Irvine in ’01 made money.
Much like yourself, some of my co-workers sold, took their gains and traded up quite nicely.
Others, pulled out a ton of equity, lived way beyond their means, and are under-water now.
Like those profiled daily on the main blog.

It’s all relative.
You opted for family/quality of life, while some traded up, and others spent it on lifestyle.

ipoplaya - 28 July 2008 03:25 PM

Tommy Bahamas dude…  PCH and MacCarthur.

Last time I was there for drinks I ran into Graph shoppin’ for some clothes.

Take it easy, I know the place.
My dad gets his buttoned up shirts there.
It’s in the same center as Sprinkles.
Thought you were referring to an Italian joint.

tenmagnet - 28 July 2008 03:32 PM

ipoplaya - 28 July 2008 03:25 PM

Tommy Bahamas dude…  PCH and MacCarthur.

Last time I was there for drinks I ran into Graph shoppin’ for some clothes.

Take it easy, I know the place.
My dad gets his buttoned up shirts there.
It’s in the same center as Sprinkles.
Thought you were referring to an Italian joint.

Damn, I haven’t been to Sprinkles in a long time.  Need to head that way for lunch soon…

panda, just an observation… i would suspect that the more you care about how others are living, the more likely you’re going to end up keeping up with the Jones, instead of being them.

acpme - 29 July 2008 07:44 AM

panda, just an observation… i would suspect that the more you care about how others are living, the more likely you’re going to end up keeping up with the Jones, instead of being them.

PANDA aka Eternal Window Shopper LOL

optimusprime - 29 July 2008 09:05 AM

acpme - 29 July 2008 07:44 AM

panda, just an observation… i would suspect that the more you care about how others are living, the more likely you’re going to end up keeping up with the Jones, instead of being them.

PANDA aka Eternal Window Shopper LOL

Nice one, Book ‘em Dano!

How likely is it for an OC millionaire to live in a house that is worth equal to less than $600,000 in OC? Again i am not counting equity from primary residence. would you say it is very likely or unlikely. Looking at several homes from IR2’s stats there are many who bought million dollar homes with a mortgage of $800,000 plus. I doubt these guys have a networth of million dollars, but probably make $200k plus income.

If you buy a house for $1M dollars, your taxes are super expensive, maintenance cost is expensive, and you have spend a lot $$$ just to furnish the place. You now have to spend money to fit in with the lifestyle of living in the $1M home like luxury cars, luxury clothes, luxury toys. Also all the guys mowing your lawn and maintaining your home will also jack up their rates because you live in a $1 Million dollar home and you look rich so why not??

The reason i started this thread was because I am really interested to find out if there is a lifestyle difference between a millionaire living in the midwest compared to a millionaire living in Orange County. I’ve met several millionaires in Cook County, but I have never personally known or met a millionaire living in Orange County. Suprisely, many of the millionaires I met in Cook County live the lifestyle of the book “Millionaire Next Door” from Thomas Stanley.

Panda

Panda, I do know of people who are living the millionaire lifestyle you describe above. I think in 401K alone, they probably have a few millions, not including savings, and investments. Their primary house is less than $600K, which was bought very low in the 90s and now it’s all paid for. These people don’t even own a fancy grill.

WestparkRenter - 29 August 2008 01:49 PM

How likely is it for an OC millionaire to live in a house that is worth equal to less than $600,000 in OC? Again i am not counting equity from primary residence. would you say it is very likely or unlikely. Looking at several homes from IR2’s stats there are many who bought million dollar homes with a mortgage of $800,000 plus. I doubt these guys have a networth of million dollars, but probably make $200k plus income.

If you buy a house for $1M dollars, your taxes are super expensive, maintenance cost is expensive, and you have spend a lot $$$ just to furnish the place. You now have to spend money to fit in with the lifestyle of living in the $1M home like luxury cars, luxury clothes, luxury toys. Also all the guys mowing your lawn and maintaining your home will also jack up their rates because you live in a $1 Million dollar home and you look rich so why not??

The reason i started this thread was because I am really interested to find out if there is a lifestyle difference between a millionaire living in the midwest compared to a millionaire living in Orange County. I’ve met several millionaires in Cook County, but I have never personally known or met a millionaire living in Orange County. Suprisely, many of the millionaires I met in Cook County live the lifestyle of the book “Millionaire Next Door” from Thomas Stanley.

Panda

Panda, I do know of people who are living the millionaire lifestyle you describe above. I think in 401K alone, they probably have a few millions, not including savings, and investments. Their primary house is less than $600K, which was bought very low in the 90s and now it’s all paid for. These people don’t even own a fancy grill.

Renter,
  I’m with you on this.  It just depends on what their goal is.  I think alot of people who are “keeping up” tend to not have any real goals…  Ok maybe accumulation of material items. 

I know quite a few people who look exceedingly wealthy, but live a normal lifestyle…. Now with the amount of people they support… that’s good question.

-bix