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Old 12-18-2018, 09:20 PM   #21
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Re: Most Expensive Zip Codes In The US This Year


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It's a saying that has no official meaning.


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The term is defined by well-established and accepted reference works.
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Old 12-18-2018, 11:12 PM   #22
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Re: Most Expensive Zip Codes In The US This Year


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The term is defined by well-established and accepted reference works.


Yeah okay.

Exactly how many generations are there before it can be called old money?

Exactly how much money does it take for the "well established" term?

Who determined the specifics of your so called well established term?

How did they make the determination?

Lmao! You sell it sport! : laughing:





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Old 12-19-2018, 01:27 AM   #23
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Re: Most Expensive Zip Codes In The US This Year


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Originally Posted by Californiadecks View Post
I really doubt there's a specific definition of an unofficial saying.


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Here old money rarely exist anymore. To me and my compadres it means inherited wealth, as in vast amounts, trusts, businesses AND are taught to behave properly
As griz mentioned.

I have a few clients like that.

Most are "new" money. Made it themselves

I primary build/remodel second and third homes. They all have money.
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Old 12-19-2018, 01:29 AM   #24
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Re: Most Expensive Zip Codes In The US This Year


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Originally Posted by Californiadecks View Post
Yeah okay.

Exactly how many generations are there before it can be called old money?

Exactly how much money does it take for the "well established" term?

Who determined the specifics of your so called well established term?

How did they make the determination?

Lmao! You sell it sport! : laughing:





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To me at least two. If a 70 year old wild catter has a 100 mil from oil deals when my dad was born- not the same as a guy who inherited a 100 year old family company & fortune
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Old 12-19-2018, 01:43 AM   #25
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Re: Most Expensive Zip Codes In The US This Year


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old money is from people who worked hard for it and respected it.

they also respected the people they dealt with.

we were treated as equals.

very honorable people and would have a drink or dinner with you as if you were a brother or son...

business on a handshake....

dam i miss those people & those days....

most of you guys will have no idea what i am talking about....
Remove the "Money" part of it, and that is the farmers I grew up working around. Land has been the families for generations, they all work hard, and their word is their bond. If they say they will do something...well they do it, if not more. A handshake IS the contract.

I still know a few. Found out tonight one that I will call my most important mentor died recently. A little sad tonight. He was always there for everyone.
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Old 12-19-2018, 04:45 AM   #26
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Re: Most Expensive Zip Codes In The US This Year


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We live in an upscale community but we bought 27 years ago. Our home cost 200k, it's valued at close to 900k today. Where I come from we call that old money. There's lots of it here in OC.


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Quote:
Originally Posted by Californiadecks View Post
Generations have happened since we bought out home 27 years ago. That's exactly what it means.



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Quote:
Originally Posted by Californiadecks View Post
I really doubt there's a specific definition of an unofficial saying.


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Quote:
Originally Posted by Californiadecks View Post
It's a saying that has no official meaning.


Mike.
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Quote:
Originally Posted by Californiadecks View Post
Yeah okay.

Exactly how many generations are there before it can be called old money?

Exactly how much money does it take for the "well established" term?

Who determined the specifics of your so called well established term?

How did they make the determination?

Lmao! You sell it sport! : laughing:


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Just saying. First you stated what the term meant "exactly" a certain thing. Then you turned right around and countered yourself.

Reply after reply.

"Official references" would have saved you a lot of defensive posturing. Turns out, your notion is just as valid as anybody else's.

My, you are a sensitive thing.
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Old 12-19-2018, 04:50 AM   #27
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Re: Most Expensive Zip Codes In The US This Year


Not too much what we called old money left around here. Or, I'm just out of the loop.

That Betsy DeVos frex, nowadays is about as close as it gets to old money - and that family's wealth started with Amway.

And hell, those two founders were both at my mom's table for dinner when I was a kid. So that's only the late 50s.
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Old 12-19-2018, 05:28 AM   #28
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Re: Most Expensive Zip Codes In The US This Year


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Not too much what we called old money left around here. Or, I'm just out of the loop.

That Betsy DeVos frex, nowadays is about as close as it gets to old money - and that family's wealth started with Amway.

And hell, those two founders were both at my mom's table for dinner when I was a kid. So that's only the late 50s.
You guys have the Ford family. Betsy was a Prince before a Devos, Prince was bought out by Johnson Controls some years ago. There’s a few over here. Steelcase, United forest products, Meijer and a bunch of others I can’t think of. Kalamazoo has the Uptons of Whirlpool not sure who has all the money. Not Kate or her dad and I don’t think Fred has any either. The Amway founders just recently died so it’s only second gen. I’d typically think of old money being into the 3rd generation at least. The second generation could have grown up poor(ish)
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Old 12-19-2018, 07:19 AM   #29
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Re: Most Expensive Zip Codes In The US This Year


I'm surprised that Alpine NJ didn't make the list.
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Old 12-19-2018, 09:26 AM   #30
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Re: Most Expensive Zip Codes In The US This Year


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You have either got to be kidding me or have no idea what real "old money" even is.

Old money is not a couple generations. It's many, many generations and the level of wealth is so removed from what most of us can even comprehend. These are people who have not worked a day in their life. These are people who don't drive but are driven. They don't fly commercial. The clubs they belong to you haven't even heard of. If they need to hire a contractor, they'll have one of their "people" hire them.
I'm sure you know some nice wealthy people who actually worked for it, or their parents worked for it, but that is exactly what Old Money looks down on as the Nouveau Riche, new rich.
Agreed to a certain extent, I also agree with griz. It's a ambiguous term, but it definitely to me means money that is older than 30 years. Lol.

I can tell you from experience, we have several clients with more money than they know what to do with, born with it, every one of them work. That is a myth in my opinion for the most part, I'm not saying there isn't a ****load of trust fund babies that aren't working. But most people with inherited wealth we have worked for work. One of our oldest clients is a founder of a major online company, that guy's worth enough to buy a small country probably, just remodeled his son's house, his son works very hard. Both of the missus remember my kids names and always have something for them for Christmas, and the guy has never spoken to me with anything but the utmost respect.

One of our clients has a huge Ranch here that has several miles of Shoreline on a constant level Lake, seven homes on it and he s a company with more than a thousand employees that's over a hundred years old. He has A HUGE ranch about 50 miles outside of Fresno California too, and owns most of a town in Minnesotta. He's one of those guys if he ask for something he only wants to hear yes, he never discusses money I deal with a person who manages those things for it, he insists on paying extremely promptly. He has never read a single scope of work I have sent, he keeps very good notes in his head and Shakes my hand at the end of the deal, his for read and sign the scope and contract

He's worked every day until he turned 68, he is still chairman of his board.

Another company has to do with oilfield distribution, tool companies and agriculture, 3rd Generation owner, 65 years old still works about 12 hours a day. He was born rich didn't have to work but he does. It was also a chopper pilot and the army

They weren't raised to be lazy wusses

Maybe each one of those guys has a lazy little brother or a few sisters that he's supporting through the Family Trust, I have no idea.

Agreed on private air travel
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Old 12-19-2018, 10:42 AM   #31
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Re: Most Expensive Zip Codes In The US This Year


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Just saying. First you stated what the term meant "exactly" a certain thing. Then you turned right around and countered yourself.



Reply after reply.



"Official references" would have saved you a lot of defensive posturing. Turns out, your notion is just as valid as anybody else's.



My, you are a sensitive thing.


What it means to me. That's the point. It has no official meaning. It's an old saying period.


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Old 12-19-2018, 10:45 AM   #32
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Re: Most Expensive Zip Codes In The US This Year


The saying has no official time or amount. We can all agree it means more than one generation I think.


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Old 12-19-2018, 11:01 AM   #33
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Re: Most Expensive Zip Codes In The US This Year


I just checked, and Iíve got a twenty in my pocket with a series date of 1994. Old money!

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Old 12-19-2018, 11:01 AM   #34
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https://marketbusinessnews.com/finan...ary/old-money/

That's old money to most people I think.

To me it has a hell of a lot more to do with how they treat people and their own possessions. Most old money by my definition is going to be somebody who takes the long-term approach with everything with their property, they don't see their property is an asset they see it is something they are going to pass down to their children and grandchildren. Certainly with their second and third homes or whatever. Usually get their children involved at later stages in life with all the decisions because of that.

Don't have to have f*** you money, but definitely going to have quite a bit. Taught by their fathers how to hire contractors and what to look for, type of people that use the same people every time. Will pay for competency & Trust

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Old 12-19-2018, 11:58 AM   #35
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Re: Most Expensive Zip Codes In The US This Year


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Originally Posted by Californiadecks View Post
The saying has no official time or amount. We can all agree it means more than one generation I think.


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it's more than just having money.

attitudes and treating people with respect.

once you prove yourself to them and maintain that trust you will be part of their lives until you want out.

they also do not care for any publicity, fanfare, gossip etc....
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Old 12-19-2018, 05:34 PM   #36
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Re: Most Expensive Zip Codes In The US This Year


To me if it's been sitting around for more than a few weeks or months it's "old money"

New money is what I get next week

Seriously though "old money" is or was money that was made back when money had real value and was compounded by saving and producing things of real value. I'm talking back before there were all these instruments of credit which isn't real money IMO. Back when what you had you owned and were not taxed heavily for owning it. Money from those times that made it into these times is "old money"
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Old 12-19-2018, 08:11 PM   #37
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Re: Most Expensive Zip Codes In The US This Year


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You guys have the Ford family. Betsy was a Prince before a Devos, Prince was bought out by Johnson Controls some years ago. Thereís a few over here. Steelcase, United forest products, Meijer and a bunch of others I canít think of. Kalamazoo has the Uptons of Whirlpool not sure who has all the money. Not Kate or her dad and I donít think Fred has any either. The Amway founders just recently died so itís only second gen. Iíd typically think of old money being into the 3rd generation at least. The second generation could have grown up poor(ish)
You didn't mention the Meijer family - which dwarfs all the others in MI.

Then there's the cereal barons in Battle Creek.

Stryker in Kalamazoo.

Plus family fortunes for Carhartt, Wolverine.

Carhartt I think is the oldest of the bunch we listed.
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Old 12-19-2018, 08:17 PM   #38
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You didn't mention the Meijer family - which dwarfs all the others in MI.

Then there's the cereal barons in Battle Creek.

Stryker in Kalamazoo.

Plus family fortunes for Carhartt, Wolverine.

Carhartt I think is the oldest of the bunch we listed.
I got meijer on there. Never heard carhartt was from Michigan. I donít know the names behind www.
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Old 12-19-2018, 08:25 PM   #39
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I got meijer on there. Never heard carhartt was from Michigan. I donít know the names behind www.
OOPS - yes you do, my bad.

There's a number of names I can recollect that had a longer history in Michigan, and big bucks to boot. They keep things really low key.

Michigan's "old money" is just johnny come lately compared to the colonies. Which my mom's family was always quick to point out.
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Old 12-19-2018, 08:29 PM   #40
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OOPS - yes you do, my bad.

There's a number of names I can recollect that had a longer history in Michigan, and big bucks to boot. They keep things really low key.

Michigan's "old money" is just johnny come lately compared to the colonies. Which my mom's family was always quick to point out.
Hereís one I never heard of.

174,000 employees??? Must be all in China.


https://www.zippia.com/enstrom-helic...reers-1140561/

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