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Thread: I don't qualify as poor any more.....

  1. #1
    Senior Member gimmethesimplelife's Avatar
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    I don't qualify as poor any more.....

    Recently I had a bit of a shock - scratch that. A real shock. I looked up what the house I co-own is worth and I was STUNNED. Truly I am not poor at the moment. I have no idea what to make of this other than being flooded with guilt - but also a little relief. Rob

  2. #2
    Senior Member Tradd's Avatar
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    What good does guilt do?

  3. #3
    Senior Member iris lilies's Avatar
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    We here have known that for a long time Rob, that you’re one of the privileged.

  4. #4
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    And why guilt? By a lot of measures you are plenty middle class but a lot of measures don't pay the bills, and what matters in the here and now is things like: Can the bills get paid? Are basic needs met? Any extra for saving and discretionary purchases? If you can get the basics met AND have any real degree of savings or discretionary income then you probably aren't poor (people will define this at the most minimum - oh you have $20 in savings you aren't poor, oh you have a cell phone you aren't poor, but give me a break, that's not how anyone really uses these terms). There is a federal poverty rate, it's probably too low, but also incomplete if it's not taking into account more local cost of living, and assets.
    If you want something to get done, ask a busy person. If you want them to have a nervous breakdown that is.

  5. #5
    Senior Member bae's Avatar
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    My house has increased hugely in value over the past year.

    This doesn't help me pay the bills at all, as I live in the house, and it generates only expenses, not income.

  6. #6
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    A house does help pay bills in the sense that one ISN'T paying rent, so it should count as income equivalent of exactly what the rent to live in a similar dwelling would have been, as one would need that additional income otherwise. Of course then there is property taxes.
    If you want something to get done, ask a busy person. If you want them to have a nervous breakdown that is.

  7. #7
    Simpleton Alan's Avatar
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    Do you still live in the house or have you moved in with your SO? If it's an income producing property, welcome to the world of well-to-do, If it's not producing income, don't dwell on it's value as it's worth nothing till it's sold.
    "Things should be made as simple as possible, but not one bit simpler." ~ Albert Einstein

  8. #8
    Senior Member JaneV2.0's Avatar
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    Leave the guilt for the more deserving and enjoy the fruits of your labor.
    On paper, I'm a swell, but in reality...

  9. #9
    Senior Member bae's Avatar
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    Quote Originally Posted by ApatheticNoMore View Post
    A house does help pay bills in the sense that one ISN'T paying rent, so it should count as income equivalent of exactly what the rent to live in a similar dwelling would have been, ...
    I think I've read about some places that proposed charging "income tax" on the imputed income from living in a home you own. Wow.

  10. #10
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    Quote Originally Posted by bae View Post
    I think I've read about some places that proposed charging "income tax" on the imputed income from living in a home you own. Wow.
    People who think bureaucrats are dull and uncreative should spend some time dealing with taxing authorities.

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