In Silicon Valley, Millionaires Who Don’t Feel Rich

[Herman Munster]

http://www.nytimes.com/2007/08/05/technology/05rich.html?_r=1&hp&oref=slogin

MENLO PARK, Calif. — By almost any definition — except his own and perhaps those of his neighbors here in Silicon Valley — Hal Steger has made it. Mr. Steger, 51, a self-described geek, has banked more than $2 million. The $1.3 million house he and his wife own on a bluff overlooking the Pacific Ocean is paid off. The couple’s net worth of roughly $3.5 million places them in the top 2 percent of families in the United States.

Yet each day Mr. Steger continues to toil in what a colleague calls “the Silicon Valley salt mines,” working as a marketing executive for a technology start-up company, still striving for his big strike. Most mornings, he can be found at his desk by 7. He typically works 12 hours a day and logs an extra 10 hours over the weekend. “I know people looking in from the outside will ask why someone like me keeps working so hard,” Mr. Steger says. “But a few million doesn’t go as far as it used to. Maybe in the ’70s, a few million bucks meant ‘Lifestyles of the Rich and Famous,’ or Richie Rich living in a big house with a butler. But not anymore.”

Silicon Valley is thick with those who might be called working-class millionaires — nose-to-the-grindstone people like Mr. Steger who, much to their surprise, are still working as hard as ever even as they find themselves among the fortunate few. Their lives are rich with opportunity; they generally enjoy their jobs. They are amply cushioned against the anxieties and jolts that worry most people living paycheck to paycheck.

But many such accomplished and ambitious members of the digital elite still do not think of themselves as particularly fortunate, in part because they are surrounded by people with more wealth — often a lot more.

[JeffR]

1. Oh the humanity

What kind of nation have we become? Won't somebody please think of the rich?

[mountainvue]

14. Really. I find the message of this article somewhat

offensive. Gotta get more, get more. The rest of you aren't making it becuase you're not working 12 hours days. You want to have a life? Ridiculous!

[hfojvt]

81. for me, one of the most priceless things I can buy with money

is free time. I could have more money if I worked full time or got a second job, but then I would have a worse life. If he spends $150,000 a year, his $2 million will only last him 14 years or so. I wonder if he spends more than that.

[bluestateguy]

2. What does a small single family house cost there? 1.5 million?

If you've got kids to put through college, too, indeed that is not the kind of money that it used to be.

[hfojvt]

83. but his is already paid for.

One person who worked in zoning told of a group of people with $400,000 houses (which is extremely high in this neighborhood) complaining that if they zoned to allow $200,000 houses to be built they would get all kinds of riff-raff moving in. From my perspective, he can live anywhere he wants because he does not need to work. He only needs to work if he chooses to live in the most expensive place in the world. If I had 1/20th of his $2 million I would give two weeks notice on my job, and would consider myself very fortunate to be freed from going to a job that I do not really like. I would still keep working for the Democratic party and writing LTTEs and posts here for free though.

[melody]

3. Excellent article and a valuable perspective on perception

If he scaled back his lifestyle, he'd have all he needed for three lifetimes. It's only a little
because he spends a lot.

[Warpy]

9. You mean if he retired and got the hell out of California

He could find a wonderful coastal lifestyle in the Carolinas with that much in net worth, even if he had to take a more reasonable price for that house than what I assume is its peak valuation in late 2005. He could do even better in Central or South America.

I inherited quite a bit less and am living quite nicely on the income without dipping into the principal.

It's true, though, that a million isn't what it used to be. A million now is like $100,000 in 1970, a comfortable cushion but certainly not enough to qualify one as rich. Entrance into the realm of the truly rich, with private airports and VIP wings of major hospitals, requires an entrance fee of $10,000,000, at the very bottom. Even then, you can expect to be pitied by most of the uber rich.

This guy's problem is that he's heavily invested into a limited lifestyle in a limited part of the world. Were he to broaden his horizons a little, he might discover that he is rich, rich enough never to need to work again.

[melody]

40. There are CA frugal places to live

Even though my family comes from the south, I'd never move there. I'm just way too fearful
of the right-wing's impact there.

I live in southern California and have a paid-for house that cost one heckuva lot less than
1.5 million (in fact, it didn't cost ten percent of that). There are frugal places to live
that don't require anywhere near that input of cash.

[AndyTiedye]

50. How Much Is That House Worth NOW?

If it's paid for, I assume you have owned it for a while.

It used to be possible to pick up land up in the mountains up north for $1000/acre.
Not anymore. Not even close.

It costs a lot to live in California. It's worth it!

[AndyTiedye]

59. I'd Rather Be Working in California than Retired in the Carolinas

[pnwmom]

13. It's only a little if you don't want to drive a couple hours to work every day.

In his area, house prices are through the roof.

[AndyTiedye]

And If He Moved Further Out We'd Be On His Case for Wasting Gas

[melody]

70. I think he could find a house close-in enough for cheap enough to offset the Prius investment

But now that we've micromanaged somebody else's life, we now have to contend with our own. lol

[AndyTiedye]

65. ??

(one click produced 3 posts somehow)

[AndyTiedye]

66. ???

(duplicate)

[hfojvt]

86. he has way more than enough money

to not need to work. 80% of families in this country make less than $90,000 a year (and are still paying for our houses). 5% interest on $2 million is $100,000. So, yeah, I think he has enough money to not need to work, but that's just me. He's willing to give up most of his free time, apparently, for the 'privilege' of living on more than $100,000 a year. From where I sit, that looks like insanity. Plus, he's apparently not even as happy as I am in spite of seeming to have so much more.

[Skittles]

48. and he spends it trying to keep up with Joneses

it is really quite pathetic

[TahitiNut]

79. How would he even know what 'rich' feels like?

The premise is insane. Childish. Take all of life's little and big aggravations, pack 'em into some illusory mental sack, and call throwing that sack away 'rich' ... and then complain becuase his childish expectations weren't met.

"Expectation" is just a name for a premeditated resentment. Looking outside one's self to find someone or something to blame for such a premeditated resentment is pathological.

[acmavm]

4. For greedy people there is never 'enough'.

edit: Or for those motivated by jealously.

[devilgrrl]

5. Oh for the love of god!

:wtf:


It's never enough, is it?

[MrScorpio]

6. $3.5 Million yields $175,000 per annum @ 5% interest - pre tax

Most people I know can live on that pretty well

I know I could, and I'd never have to work another as long as interest rates don't fall through the floor


He's just greedy, that's all

[Warren Stupidity]

12. Each kid in college: 50k.

The taxes on his 175,000 would take another large chunk of 175,000.
Property taxes on that 1.5M house? 15k?
Retire at 51? health insurance will cost you around 20k/yr.

So he's still working. The working "rich". He ain't alone.

[lovuian]

27. its all about healthcare when you get to it

its ridiculous

[pnwmom]

15. Could you live well on that amount, after tax, anywhere near where he works?

That's the real question.

In that part of California, the prices are sky high and the little ranch houses are perfectly ordinary.

[lumberjack_jeff]

18. He owns his home free and clear.

His liquid net worth is $2.2m. You can pay for a lot of luxury for $110k discretionary ($2.2m @ 5%).

Someone suggested that he should seek more meaningful work. Absolutely true.

[CountAllVotes]

22. must be rough alright

kids or no kids :sarcasm:

:kick:

[JVS]

7. I'd trade it all for just a little more. That's what greed is about.

[Ron Green]

8. Sounds like he needs to find more meaningful work.

A small house with a garden, a job in a trade or social service (maybe 20-30 hours a week), and some volunteer work would straighten this guy out.

[AndyTiedye]

67. But He LIKES His Work

I don't think a part-time job of the sort you approve of would put the kids through college.
Totally different skill-set too.

[dkofos]

10. He could always quit, sell his house, and move to some place where

he can afford to live off his 3.5 million.
He is truly in dire straits. :sarcasm:

[pnwmom]

16. He's obviously not in dire straits.

But he's not in a position to quit working either, as long as he wants to keep his kids in school there or he has to put them through college.

[dkofos]

21. If I had 3.5 million I could retire. And put my three kids thru college!

[pnwmom]

74. Of course you could. But probably not in Palo Alto.

They have children in schools there, and parents usually don't want to disrupt children when they're having a good experience in their current schools.

[lapfog_1]

11. years and years ago there was truly decrepit farm house

sitting right off of 237 between Milpitas and Mountain View. There was a office park being built on the farm site... but the house, full of holes in the walls and a broken roof and just rotting away... had a sign on it "Silicon Valley fixer-upper - $450K".

That was a bit tongue in cheek, but it was also maybe 10 years ago.

Yeah, if you want to buy a house in the hills around Silicon Valley (desirable neighborhoods with good schools, Los Gatos, Los Altos, Palo Alto, etc... start thinking about $800K to $1.2M to get something that isn't horrible)... if you are willing to live in the Valley (Mtn View, Sunnyvale, Campbell, etc), $750K to $900K.

Of course, he could do what so many others have done. Sell and move somewhere much less expensive, like West Virginia or somewhere. Used to be Washington, Oregon, and Colorado... which the local residents hated because these assholes would come in and pay cash for an "expensive" home ($250K to $300K)... hence the term "Californication".

[lumberjack_jeff]

17. Jesus Christ. The greed poster child in the flesh.

This guys house is paid off and his non-house net worth is $2.2 million. Cry me a fuckin' river. We're raising three kids and living comfortably on about $35,000 a year.

Retire and leave the job to someone who needs it Mr. Steger. You want sympathy? It's in the dictionary between "shit" and "syphillis".

This is the type of person I think of every time there's a post here asking "what's middle class?" Inevitably, a group of people will say that it's wholly dependent on where you live. "Here in Malibu, a modest income is $300k/year". Screw that.

It's all about the math. Mr Steger, you are already wealthy.

[AndyTiedye]

49. Let's See How Long Your Town Stays Affordable Now That You Let the Cat Out of the Bag

This guys house is paid off and his non-house net worth is $2.2 million. Cry me a fuckin' river. We're raising three kids and living comfortably on about $35,000 a year.

And you are in Washington State. Since you posted this, dozens of Silicon Valley residents have made cash offers on properties in your town. Let's see how long it stays affordable.

Retire and leave the job to someone who needs it Mr. Steger.

Whoever replaces him would need to make just as much to live here. Possibly more, since a newly-purchased house would be assessed at full value for taxes. And a new mortgage.

He still has a kid in college and one in high school. Not a time to be uprooting the family, to move — where?

[lumberjack_jeff]

60. Why would he need to move?

He owns his house and has $2.2m of other assets. Sympathy toward him detracts from sympathy toward someone who needs it.

Yes, property in my town is appreciating. I bought the 5 acres (with well and septic) for $65,000 three years ago. I built a modest house on the property for about $150k. The bank just appraised it for $350k. Small change by San Jose (or puget sound, for that matter) standards, but still significant appreciation.

If one's house is paid for, (excepting property taxes) the cost of living is the same just about anywhere.

[AndyTiedye]

64. He's Not Moving, I'm Not Moving, But Somebody Is

We have been hearing this from the PNW for a long time:

"Silly Californians, paying so much when it's so much cheaper up here!"

"WTF, they're moving up here, and now it's getting expensive! Damn Californians!"

[pnwmom]

75. The cost of living isn't the same just about everywhere,

not based on my experience. One of our relatives moved from a small town in a rural area to Seattle and was shocked by the differences in everyday prices.

And why would it be? The people who provide services have to pay the higher rents or house payments (and higher property taxes, higher insurances rates, etc), so how could they afford to provide their services at the same price as those who live in places where housing costs much less?

[lumberjack_jeff]

77. I live out in the country. Quite far in the country, actually.

My gasoline bill is huge, largely because it makes economic sense to drive to the big city (Olympia... okay medium-sized city) to buy stuff.

If it makes economic sense for me to burn fuel driving to the high-rent district to buy stuff, explain why the people who already live there have it so tough.

I disagree. The cost of living (exclusive of housing) is about the same everywhere, unless you live in a rural area like me and have to burn fuel to get to work or to buy groceries.

What's different is earning capacity. If I lived in Seattle, an hour of my time is conservatively worth twice what it is here in the country.

The guy who lives in San Jose in a paid-for house has it (economically) easy.

I've done enough work there to wonder why anyone would pay that much money to live in such a place.

[thunder rising]

19. Scale back? Never enough?

Get a clue. He's not the one complaining. He gets up and goes to work. You know what, so does Donald Trump.

Here's some of what I believe.
1. Every person should be given the opportunity to a good education continuously throughout his/her life.
2. Every person should be assured there is a safety net and a living wage.
3. Every person should be given the best health care.
4. What a person does in his/her bedroom is none of my nor the government's business.
5. What takes place between a person and his/her doctor is none of my nor the government's business.
6. Every person should be unafraid of their government.
7. We all must pay for the upkeep and safety of our country.

Pretty much other than that .... you're on your own.

[hfojvt]

89. sounded like a complaint to me

"boo hoo hoo, I'm not rich" I'm working class, working in the 'Silicon Valley Salt mines'.

Maybe he should spend a day in a real Salt mine or on a real paint line before he calls himself 'working class'.

[Thickasabrick]

20. With all that's wrong with the country right now, they write this shit?

Cry me a fucking river.

[AndyTiedye]

68. Just Another Article Making Fun of California

Like the New York Times should talk.

Priced any property in New York City lately?

[Tatiana]

23. Wow. We're now using "working-class" to describe millionaires.

Something seems really wrong with that.

[Skidmore]

24. Mr. Steger, it's called greed. Doyou really need a $1.3m dollar house?

Paid for or not. What kind of clothing do you an dyour family buy? Designer, I'll bet. Do you need special coffees and food products from far away? What kind of furniture do you own and car do you you drive?

I'll bet the life style you live does cost something to support. I feel for you, but I just can't reach you.

[Greyhound]

42. From the description, $1.3M is drastically understated.

Ocean view, hilltop lot, withing commuting distance to Silicon Valley, easily $3M even if it's a 900 sq.ft. 2-bedroom.
:crazy:

[goodgd_yall]

53. That's what I was thinking

If it's a custom home with a view, the house would be a helluva lot more than $1.3 million.

[AndyTiedye]

56. I Could Find You Some Under 1.3M

[devilgrrl]

25. This reminds me of the couple from Nebraska from a few years ago...

I can't find the threads, but they made in the mid six figures, owned 5 horses, a huge house, drove SUV's and were whining that they couldn't make ends meet. :eyes:

[lovuian]

26. A famous man wrote

A man is rich in proportion to the number of things he can afford to let alone.

obviously this is NOT a Rich Man but a poor idiot

[Odin2005]

28. WTF? This guy is a fool.

If I was him I'd move to a place with a lot lower cost-of living then California and use all that money to start my own tech company.

[Nikia]

29. These people have options

One of their options is to quit and move to someplace less expensive and more laid back.
Normal working class people don't have options like this.

[bicentennial_baby]

30. Somebody call the Waaaaahmbulance!

"Working class millionaire" my ass! :nopity:

[BlooInBloo]

31. It's here!

[smirkymonkey]

76. Don't you just want to smack him?

The nerve of him to whine when he actually has money in the bank and the lifestyle that he does when most people on the planet are barely getting by. IT'S ABOUT PERSPECTIVE!

I work 10-11 hour days in Manhattan and get by on a hell of a lot less than he does, but you know what? Even though I think I should be making more money, and I sometimes get filled with self-pity because there are so many rich people here and I'm still making less (substantially) than six figures after years of study, expensive schooling and hard work, I stop and think about what I do have:

A roof over my head (even though I have to live w/ roommates because it's too expensive to live alone)
Food on my table (even though I can't afford to eat out very often at all the trendy restaurants that surround me)
Heath Insurance (a big one - something I appreciate more and more every day)
Relatively cheap public transportation (because I could never afford a car and the gas you need to put in it)
Clothes on my back (even though I can't afford to go shopping unless I absolutely need something, and dress for practicality here in the "Fashion Capital of the World")
Friends, Family, Health and Freedom (well, not so sure about the last one)

The problem with so many people in this country is that we think we're all entitled to excessive wealth and believe that it's the only road to happiness, and if we don't have it, we can't be happy.

If we'd just stop to be grateful about what we do have every once in a while, we'd probably be a lot happier even without making an extra dime. I wish all these spoiled little brats would quit whining and do something useful with their lives - maybe give back to people who have a lot less than they do. Then maybe they'd learn to have some gratitude for how much good fortune they DO HAVE.

[That Is Quite Enough]

32. That poor guy.

A working-class millionaire? The nerve of these wealthy slimebags is outrageous.

A few million doesn't go as far as it used to? Oh, the pain and suffering it must cause to realize you might not be able to afford your next Maserati, or that you won't be able to buy as big a yacht as you wanted.

These rich people just have it so hard, don't they?

[AX10]

33. Such assh**les! They have more than enough money to live on...

quite nicely. Two things:

1: These "poor" :sarcasm: :eyes: people should be greatful that they have done as well as they have, especially considering the times that we live in.

2: I give these people credit for contributing to society in a positive manner.
They are not as rich as hedge fund managers, but they do alot more than any hedge fund manager ever did. They are also much more important than any hedge fund manager. Hedge Funds are a ponzi scheme. I would never touch one and would be very upset if I knew my investments were in one.

A 70,000 dollar Lexus and and vacations to Europe/Outside the US are quite nice things. These people have a good life. They are the top 2% of earners.

[sammythecat]

34. This isn't surprising.

To paraphrase Einstein, the value of anything is relative to it's environment.
The one-eyed man is King in the land of the blind and, I suppose, a single digit millionaire can feel he leads a hardscrabble life in the land of billionaires.

The guy sounds like a dick to me, and I think it would do him some good to broaden his frame of reference.

[Lydia Leftcoast]

35. These people need to get over themselves

I recall a LTTE in the Portland Oregonian a few years back, when some Republicanite was complaining about high taxes.

"I'm not rich," she wrote, "but I still have to pay $200,000 a year in state and federal income tax."

Yeah, I used the tax tables in my income tax booklet to figure out how much of an annual income such a person would have, but they don't go that high. At any rate, her income would have to be $600,000 a year at minimum, and that would be assuming the unlikely scenario that she didn't have any accountants seeking out tax loopholes for her.

I'm tired of whiny rich people. I much prefer rich people who quietly go around doing good works with their money.

[bicentennial_baby]

36. After reading the article, I may just vomit

These people are sick...So out of touch with fucking reality. "If you move, you admit defeat."

Fuck them. I hope they all end up defaulting on their mortgages and end up on the g'damn streets.

:puke:

[Raine]

37. A couple million

dollars is not what it used to be.

[Locrian]

38. with no due respect..

Steger, 51, a self-described geek, has banked more than $2 million. The $1.3 million house he and his wife own on a bluff overlooking the Pacific Ocean is paid off. The couple’s net worth of roughly


With no due respect Mr Steger: fuck you, you ignorant fool.

[The Vinyl Ripper]

39. "They generally enjoy their jobs..."

That is the operative phrase in the piece.

A lot of people in the US are defined by their jobs.

What is one of the first things people ask you when you meet?

"What do you do?"

Which is really a thinly disguised way of asking how much you make.

With the sort of job the OP has comes power over others.

If he were to retire that power would disappear.

Power is even more addictive than money.

[AndyTiedye]

46. There Are Other Reasons Besides Power That One Might Enjoy One's Work

What is one of the first things people ask you when you meet?

"What do you do?" Which is really a thinly disguised way of asking how much you make.

Not necessarily. Among geeks it means exactly what it says. I would respond,
"I develop public key infrastructure", and that isn't going to tell you jack about
how much I make.

With the sort of job the OP has comes power over others.

"Marketing executive" doesn't sound like a supervisory position.

I think you may actually have it the wrong way around here.
Power may be seductive, but it tends to burn people out.
Many of us geeks don't have the people skills to do management and don't want to go there.

I enjoy my job, and it does not give me any power over anyone.
Just doing my bit to help keep the Internet free, and getting paid for it.

[The Vinyl Ripper]

51. Marketing executive is not really a geeky job..

"Executive" does indeed imply power.

What you may answer to the question "what do you do?" does not change the fact that it is a thinly disguised method of finding out how much you make and what your social status might be.

I'm a geek myself and I enjoy what I do, but if I had a paid for home and a few million in the bank I'd retire in a heartbeat and pursue my many other interests.

[AndyTiedye]

62. Marketing Organizations are Big on Titles, for Obvious Reasons

"Executive" implies a lot but doesn't really mean very much.
If he were a manager or supervisor that would be in the job title.
It also takes a fair amount of geekiness to call oneself a geek,
considering the low regard in which geeks are held in our society (even on DU).
Real geeks gravitate towards engineering, of course. ;)
Not sure about this one in marketing. :eyes:

What you may answer to the question "what do you do?" does not change the fact that it is a thinly disguised method of finding out how much you make and what your social status might be.

That depends on who is asking the question. Real geeks tend to be rather oblivous about things like social status.
Such a conversation is more likely to turn into a technical discussion. That is one of things I like about living here!

I'm a geek myself and I enjoy what I do, but if I had a paid for home and a few million in the bank I'd retire in a heartbeat and pursue my many other interests.

What if your job seemed to be converging on some of those interests?

[AX10]

80. Well, marketing is all about the B.S!

So the title thing is what I would expect.

[AndyTiedye]

63. Recovering Music From Crappy Vinyl is an Interest We Share

also from crappy recording tape.

I'm sure I won't have time to digitize all that stuff until I retire, and probably not even then.

I digitized some Sun Ra LP's a while back that we rescued from a friend's basement.
They're in remarkably good shape, but could still use a little cleaning up.

[The Vinyl Ripper]

69. Antique sound..

I even have an original Victrola and records in the basement.

http://www.youtube.com/watch?v=iwljzfxABxo

Check my website for software to clean up the Sun Ra rips.

[Solly Mack]

41. I simply insist we start a fund drive for these poor unfortunate souls

[fujiyama]

43. The article is very interesting

I read it last night.

These people are pretty deluded. Maybe they should take one minute to wonder how it is for people that make *gasp* actual working class incomes in that area. They often commute insanely long times in congested traffic, living paycheck to paycheck.

I was in the SV area just recently. A cousin of mine lives in one of the area (him and his wife are looking for homes now - minimum of 700k+). I loved CA in general and would move there in a second, but the cost of living is outrageous.

[xchrom]

44. wow -- just think -- he could travel, take time to read,

go back to school and learn something truly enriching to the Self.

and at the end -- perhaps he just enjoys working -- and that's fine.

but to claim some kind of squeeze is just a little unbelievable.

and i guess it's also fitting to note at this juncture -- you can't take it with you.

[MrSlayer]

45. Boo fucking hoo.

"A few million doesn't go as far as it used to." :wow:



I'd like to slap the shit out of this clown. I could retire right now, never have to work again, on 3.5 million and I'm only 37.

[HughBeaumont]

88. In Ohio, you'd have a paid-for McMansion, a paid-for Mercedes and a paid-for college ed for the kid.

Coming out of that few million and even after all of that, you'd still have at least 2.5 million in the bank to do whatever with.

This is the world's most microscopic tear being shed for Mr Steger.

[Skittles]

47. JAYSUS THE GREED

F*** OFF MR STEGER

[goodgd_yall]

52. He could have gotten a house for $700,000

but now much lower than that. I'd agree that in Silicon Valley, one million doesn't go far if you insist on buying a home with 3 bedrooms or more.

[dropkickpa]

54. A very kind

Fuck you to Mr. Steger. Try living MY life on MY budget for one week, you'd shit your pants, fall to your knees, and praise Jeebus you're so rich. Have you ever had to decide between paying your heating bill or buying groceries in January, with a kid in the house? No? Well fuck you again Mr. Steger. You can kiss my REAL poor ass and thank me for the privelege afterwards.

[bridgit]

55. that's easy to understand in Silicon Valley, little two bd houses my parents...

bought for $17,000 go for 3.2mil out there, property taxes are through the roof, and perhaps an unhealthy portion of their so-called wealth only exists on paper i.e. stock options and the like

[rainbow4321]

57. Multimillion mansions are selling like hotcakes in Dallas

While home sales for under $200,000 are dropping...

http://www.dallasnews.com/sharedcontent/dws/classifieds/news/homecenter/realestate/stories/class080307dnbusmillions.db151b48.html

While the overall home sales market has seen a dip this year, sales at the top end are booming. Purchases of million-dollar homes were up 25 percent at midyear.

At the same time, sales of homes priced at $200,000 or less are down by double digits. Housing analysts attributed the mansion-buying binge to everything from Wall Street buyouts to baby boomer inheritance.
<snip>
Dr. Gaines said the contrast with the low-end of the home market is even more marked because of tougher mortgage lending policies, which are locking many first-time buyers out of the market.

<snip>
"I sold a $6 million house in Preston Hollow to a guy who was a first-time homebuyer," Mr. Nichols said. "There is a huge amount of money coming from oil and gas, and the hedge fund guys have made a ton of money in the stock market. You see people coming in and buying multimillion dollar properties who you have never heard of before."

[AX10]

58. Oil, Gas, and Hedge Funds: easy money if you know the right people.

[Ilsa]

61. Crap. My husband works longer hours, and he's in the same industry.

But he ain't a millionaire. Can't imagine he ever would be.

[WinkyDink]

71. I'd bet they would "feel" rich in Iraq. Let's ship'em over.

[Blue_Tires]

72. puketastic...

the rich truly do live on a different planet

[Blue_Tires]

73. just for reference

the reporter should have gone to one of those 50-story building the dot-commers work in and interviewed the cleaning staff...ask them:

1. salary
2. where they live and cost of lodging
3. commute to work in miles
4. monthly expenses
5. how they can afford to raise children

show the cleaning staff these 'poor me' comments and get their reaction...doing that could have breathed some life into this story, which might as well have been in the wsj...

speaking of the wsj, here is a similarly craptastic story: http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=103x299042

[Manifestor_of_Light]

78. Crimea River.

Sorry for the horrible pun.

Yeah I spent half my life in school, and I'm a bit over 50. 12 years of grade school, 12 years of college and grad school, can't get ANY job.

Boy am I glad I busted ass for five years in night school while working full time, for that doctorate. :sarcasm:

[RandomKoolzip]

82. Awwwww.....

My heart bleeds for Mr. Steger. Maybe we here at DU can take up a collection and help the guy out.

Like the cat poster says, "Hang in There, Baby!" You can do it, Hal Steger! We're rootin' for ya! :patriot:

:grr:

[Book Lover]

84. Or....

He could move to San Mateo or Foster City. Oh, that's right - a step down the social ladder might mean that his collegues see a man who moves to live within his means...

[hedgehog]

85. It all goes back to what you value, not what you have.

Once you have a roof over your head, food on the table and the doctors' bills are paid, it's up to you to make yourself happy. I have four siblings. When I look at how satisfied each of us is with our lives, it goes in reverse order to what we are worth financially. The richest one is unhappy because no matter what she has, someone else has more.

[npincus]

87. boo frickin'-hoo