Go Back   English Forum Switzerland > Living in Switzerland > Daily life  
Reply
 
Thread Tools Display Modes
  #41  
Old 30.01.2011, 19:11
Junior Member
 
Join Date: Jan 2011
Location: N/A
Posts: 76
Groaned at 4 Times in 2 Posts
Thanked 39 Times in 19 Posts
LordNacho has annoyed a few people around hereLordNacho has annoyed a few people around here
Re: What is your definition of Rich and Poor in Switzerland?

Quote:
View Post
Okay how about this as a set of definitions after having given it some thought:

1. Rich is when your passive income is greater than your living expenses.

2. Poor is when your active income is less than your living expenses.
What do you mean by passive income?
Reply With Quote
  #42  
Old 30.01.2011, 19:14
Guest
 
Posts: n/a
Re: What is your definition of Rich and Poor in Switzerland?

Quote:
View Post
What do you mean by passive income?
Google is your friend.
Reply With Quote
  #43  
Old 30.01.2011, 19:18
Junior Member
 
Join Date: Jan 2011
Location: N/A
Posts: 76
Groaned at 4 Times in 2 Posts
Thanked 39 Times in 19 Posts
LordNacho has annoyed a few people around hereLordNacho has annoyed a few people around here
Re: What is your definition of Rich and Poor in Switzerland?

Google doesn't tell me what YOUR definition is.
Reply With Quote
  #44  
Old 30.01.2011, 19:22
Guest
 
Posts: n/a
Re: What is your definition of Rich and Poor in Switzerland?

Quote:
View Post
Google doesn't tell me what YOUR definition is.
You want my definition? Why didn't you say so?

In that case:

  • active income is wealth attained by shafting the working man
  • passive income is wealth attained by inviting the working man to pay to shaft you
Klar?
Reply With Quote
This user groans at for this post:
  #45  
Old 30.01.2011, 19:32
Junior Member
 
Join Date: Jan 2011
Location: N/A
Posts: 76
Groaned at 4 Times in 2 Posts
Thanked 39 Times in 19 Posts
LordNacho has annoyed a few people around hereLordNacho has annoyed a few people around here
Re: What is your definition of Rich and Poor in Switzerland?

Quote:
View Post
Okay how about this as a set of definitions after having given it some thought:

1. Rich is when your passive income is greater than your living expenses.

2. Poor is when your active income is less than your living expenses.
By this definition, someone with high passive income and low active income can be both rich and poor at the same time.
Reply With Quote
  #46  
Old 30.01.2011, 19:40
TheSpouse's Avatar
Forum Veteran
 
Join Date: Dec 2008
Location: Saussignac, France
Posts: 1,702
Groaned at 26 Times in 20 Posts
Thanked 2,939 Times in 930 Posts
TheSpouse has a reputation beyond reputeTheSpouse has a reputation beyond reputeTheSpouse has a reputation beyond reputeTheSpouse has a reputation beyond reputeTheSpouse has a reputation beyond reputeTheSpouse has a reputation beyond repute
Re: What is your definition of Rich and Poor in Switzerland?

Active Income: The person who is receiving the income is literally working, either for him/herself or for a company. The income is directly related to hours worked, product produced, contracted salary obligations, etc.

Passive Income: Monies received through royalties, trust funds, annuities, stock options cashed in, ad nauseum, ad infinitum. . . .

Vous comprenez?
Reply With Quote
This user would like to thank TheSpouse for this useful post:
  #47  
Old 30.01.2011, 19:56
colinwheeler's Avatar
Forum Veteran
 
Join Date: Sep 2010
Location: Gersau
Posts: 998
Groaned at 16 Times in 13 Posts
Thanked 872 Times in 440 Posts
colinwheeler has a reputation beyond reputecolinwheeler has a reputation beyond reputecolinwheeler has a reputation beyond reputecolinwheeler has a reputation beyond reputecolinwheeler has a reputation beyond repute
Re: What is your definition of Rich and Poor in Switzerland?

Quote:
View Post
What do you mean by passive income?
Passive income is income that you don't need to spend your time generating, except possibly for the occasional health check. In other words stuff like a large trust fund or managed land holdings or a pension.

Quote:
View Post
By this definition, someone with high passive income and low active income can be both rich and poor at the same time.
Yes, quite correct. Some people that have high incomes but higher living expenses could be considdered poor....such as we find in Switzerland where somebody that earns a very good global income cannot keep ahead compared to say a land owner in Sudan who has passive income and does not need to go to work every day would be considdered rich in that context.
__________________
Living it up in Gersau.
Reply With Quote
  #48  
Old 30.01.2011, 20:06
MrVertigo's Avatar
Forum Legend
 
Join Date: Feb 2010
Location: CH
Posts: 3,200
Groaned at 86 Times in 70 Posts
Thanked 5,788 Times in 2,254 Posts
MrVertigo has a reputation beyond reputeMrVertigo has a reputation beyond reputeMrVertigo has a reputation beyond reputeMrVertigo has a reputation beyond reputeMrVertigo has a reputation beyond reputeMrVertigo has a reputation beyond repute
Re: What is your definition of Rich and Poor in Switzerland?

A quote from a french humourist about being poor in Switzerland:
"How to recognize a poor chap in Switzerland? It's the guy who washes himself his Rolls-Royce"
Reply With Quote
  #49  
Old 30.01.2011, 20:12
Junior Member
 
Join Date: Jan 2011
Location: N/A
Posts: 76
Groaned at 4 Times in 2 Posts
Thanked 39 Times in 19 Posts
LordNacho has annoyed a few people around hereLordNacho has annoyed a few people around here
Re: What is your definition of Rich and Poor in Switzerland?

Quote:
View Post
Active Income: The person who is receiving the income is literally working, either for him/herself or for a company. The income is directly related to hours worked, product produced, contracted salary obligations, etc.

Passive Income: Monies received through royalties, trust funds, annuities, stock options cashed in, ad nauseum, ad infinitum. . . .

Vous comprenez?
But the passive income types you quote could easily turn into passive losses... the risks could be very different from having an ordinary job?

I just feel the passive/active income definition throws up some unexpected results:

Suppose Wayne Rooney puts some of his money in a pension fund, which turns out to lose money that year... He's not rich, because his passive income is less than zero?
Reply With Quote
  #50  
Old 30.01.2011, 20:13
Guest
 
Posts: n/a
Re: What is your definition of Rich and Poor in Switzerland?

Quote:
View Post
A quote from a french humourist about being poor in Switzerland:
"How to recognize a poor chap in Switzerland? It's the guy who washes himself his Rolls-Royce"

...and that it's a Rolls-Royce, not a Bentley, tells one even more.
Reply With Quote
  #51  
Old 30.01.2011, 20:19
colinwheeler's Avatar
Forum Veteran
 
Join Date: Sep 2010
Location: Gersau
Posts: 998
Groaned at 16 Times in 13 Posts
Thanked 872 Times in 440 Posts
colinwheeler has a reputation beyond reputecolinwheeler has a reputation beyond reputecolinwheeler has a reputation beyond reputecolinwheeler has a reputation beyond reputecolinwheeler has a reputation beyond repute
Re: What is your definition of Rich and Poor in Switzerland?

Quote:
View Post
But the passive income types you quote could easily turn into passive losses... the risks could be very different from having an ordinary job?

I just feel the passive/active income definition throws up some unexpected results:

Suppose Wayne Rooney puts some of his money in a pension fund, which turns out to lose money that year... He's not rich, because his passive income is less than zero?
You have a better definition to offer?

Of course you are always going to get unexpected results out of any definition or system of classification. That is what happens when you create abstractions.

Suppose you got a job that did not even really cover your basic requirements and then you won the lottery. Suppose you got an excellent job with an excellent company but you got fired because you had a personallity conflict with your boss? Suppose the country that you lived in screwed up royally and sold all of thier assets at the bottom of the market leaving you with a huge national debit?

Rich and Poor are situations that change all of the time, you can make or loose money.
__________________
Living it up in Gersau.
Reply With Quote
  #52  
Old 30.01.2011, 20:30
Karl's Avatar
Forum Veteran
 
Join Date: Sep 2008
Location: Here
Posts: 2,024
Groaned at 195 Times in 89 Posts
Thanked 2,972 Times in 973 Posts
Karl has a reputation beyond reputeKarl has a reputation beyond reputeKarl has a reputation beyond reputeKarl has a reputation beyond reputeKarl has a reputation beyond reputeKarl has a reputation beyond repute
Re: What is your definition of Rich and Poor in Switzerland?

Quote:
View Post
This is absolutely not true. Wealthy people never obsess about money. Never. It's beyond gauche.
That would be your husband who does that bit, while you are blissfully unaware.
Reply With Quote
This user would like to thank Karl for this useful post:
  #53  
Old 30.01.2011, 20:32
Phil_MCR's Avatar
Forum Legend
 
Join Date: Oct 2009
Location: Basel
Posts: 14,952
Groaned at 295 Times in 199 Posts
Thanked 19,019 Times in 8,000 Posts
Phil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond repute
Re: What is your definition of Rich and Poor in Switzerland?

Quote:
View Post
This is absolutely not true. Wealthy people never obsess about money. Never. It's beyond gauche.
i agree with you. money is kinda like health. when you have it, you consider it 'not important' because you've really taken it for granted.

i don't think there's a strict dividing line between passive and active income, rather a matter of degree as even passive incomes require you to do something to get it or check it even if to just make sure you're getting the right amount.

just take a look at how much time you need to spend to generate the money. for example salaried pay is highly active, requiring you to spend (say) 42.5 hours a week being at a workplace and includes commuting there, restrictions on when you work/sleep/party etc.

money in the bank earning interest is mostly passive. you just get it paid every month/year. ok, you might monitor it to see whether interest rate is competitive or whether the bank is about to collapse and take the capital along with it.

from my point of view, passive income is preferred because it is more scalable. you can have many streams of passive income because it requires little of your time. whereas, it is more difficult to hold down 3 full time jobs at the same time.

i think people struggle to answer the question because there is no point where you flip from poor to rich, but it is rather a matter of degree. also, do you distinguish between assets/net wealth or earning power? i have friends who are traders who spend pretty much everything they earn. they have a nice house and car, but that's about it. the rest is blown each and every month.
__________________
By replying to this post, you hereby grant Phil_MCR a royalty-free license to use, in any way, anything posted by you on the internet. If you do not accept, stop using EF and delete your account.
Reply With Quote
  #54  
Old 30.01.2011, 20:32
Guest
 
Posts: n/a
Re: What is your definition of Rich and Poor in Switzerland?

Quote:
View Post
That would be your husband who does that bit, while you are blissfully unaware.
I do adore a lovely bit of gender stereotyping to go with my evening bowl of cheese rind soup!

Reply With Quote
The following 5 users would like to thank for this useful post:
  #55  
Old 30.01.2011, 20:47
Junior Member
 
Join Date: Jan 2011
Location: Zürich
Posts: 85
Groaned at 1 Time in 1 Post
Thanked 80 Times in 20 Posts
Rach_UK has no particular reputation at present
Re: What is your definition of Rich and Poor in Switzerland?

Quote:
I do adore a lovely bit of gender stereotyping to go with my evening bowl of cheese rind soup!

This is one of the funniest things I've seen in ages!
Reply With Quote
  #56  
Old 30.01.2011, 21:02
NotAllThere's Avatar
Modulo 2
 
Join Date: Oct 2008
Location: Baselland
Posts: 15,034
Groaned at 308 Times in 263 Posts
Thanked 23,191 Times in 9,417 Posts
NotAllThere has a reputation beyond reputeNotAllThere has a reputation beyond reputeNotAllThere has a reputation beyond reputeNotAllThere has a reputation beyond reputeNotAllThere has a reputation beyond reputeNotAllThere has a reputation beyond repute
Re: What is your definition of Rich and Poor in Switzerland?

Quote:
Anyone who earns more than me is to be resented as an overpaid, spoilt parasite feeding upon the sweat of the honest working man, ...
Ah, get back in your cellar with the rats, work'us.

Quote:
View Post
Rich means you can afford to go to the dentist here, poor means you take a trip to Budapest.
No. I'm rich because I take a trip to Budapest for my dentistry rather than do it here.

I was in Credit Suisse the other day, and I saw this rather averagely dressed man (think IT middle management kind of suit) go up to the information desk. He had a briefcase clutched in his hands.

"I've got some money to deposit" he whispered
"Certainly sir, just go to one of the cashiers, and they'll take care of that" replies the lass.
"But it's the amount - I want to be discreet", he continued whispering.
"Oh, I see." She lowered her voice, "how much is it?".
"4 million francs", he says very very quietly.
"Ah, ok sir, I understand your concern, I'll get someone to assist you. But really, sir, there's no need to whisper...

..poverty isn't shameful in Switzerland".

__________________
Down with racism. Long live miscegenation!
Reply With Quote
The following 4 users would like to thank NotAllThere for this useful post:
  #57  
Old 30.01.2011, 21:05
Guest
 
Posts: n/a
Re: What is your definition of Rich and Poor in Switzerland?

Quote:
View Post
This is one of the funniest things I've seen in ages!
I can laugh about it NOW - but at the time it was NOT funny at all - remember it so vividly.
Reply With Quote
  #58  
Old 30.01.2011, 21:18
MrVertigo's Avatar
Forum Legend
 
Join Date: Feb 2010
Location: CH
Posts: 3,200
Groaned at 86 Times in 70 Posts
Thanked 5,788 Times in 2,254 Posts
MrVertigo has a reputation beyond reputeMrVertigo has a reputation beyond reputeMrVertigo has a reputation beyond reputeMrVertigo has a reputation beyond reputeMrVertigo has a reputation beyond reputeMrVertigo has a reputation beyond repute
Re: What is your definition of Rich and Poor in Switzerland?

something i observed in many countries quite frequently but difficult to generalize (need to check that in switzerland):
poor people are often generous and welcoming with guests/foreigners, with a real sense of hospitality. Often rich people are greedy and stingy.
While the former has nothing to loose and is therefore open to people, the later thinks that all people are after their money and therefore tend to treat everyone with great suspicion.
Reply With Quote
The following 4 users would like to thank MrVertigo for this useful post:
  #59  
Old 30.01.2011, 21:46
Wollishofener's Avatar
Forum Legend
 
Join Date: Jun 2009
Location: Glattbrugg
Posts: 18,978
Groaned at 332 Times in 257 Posts
Thanked 11,715 Times in 6,858 Posts
Wollishofener has a reputation beyond reputeWollishofener has a reputation beyond reputeWollishofener has a reputation beyond reputeWollishofener has a reputation beyond reputeWollishofener has a reputation beyond reputeWollishofener has a reputation beyond repute
Re: What is your definition of Rich and Poor in Switzerland?

Quote:
Rich: Half of the spoilt, overpaid King Farouks on the EF who think it's impossible to live on less than 80k a year.

Poor: The miserable souls in the heart of Canton Congo whose houses look they are about to collapse, whose rusty shells of cars sit on bricks in the front yard and whose children, apparently, can't afford belts for their trousers.

It's all relative. I certainly wouldn't want to be even relatively poor here.
Those souls in the Canton of Congo are not as poor as you think

- Their houses look as being to collapse as waiting for some pro-agriculture and pro-mountain-people subsidies !
- Their cars just sit on bricks waiting for the cousin car-mechanic who on Friday evening takes the required tools and spares from the garage in Zurich, to do his work on Saturday without VAT and other outlandish notions, and then will take the tools back earliest on Monday morning
- Those children have just become too fat for their old belts, and the new one is to be bought in Zurich, when they in Congo have St. ....
like this one http://www.feiertage-schweiz.ch/st.agatha.php

and, ehmmm, compared to Mr Blocher, your ARE poor



while of course, people living on the Gold Coast (Gold-Küschte) are supposed to be rich !

Last edited by Wollishofener; 30.01.2011 at 22:12.
Reply With Quote
  #60  
Old 30.01.2011, 22:06
Uncle GroOve's Avatar
Forum Veteran
 
Join Date: Feb 2008
Location: Mendrisio
Posts: 1,082
Groaned at 7 Times in 5 Posts
Thanked 733 Times in 382 Posts
Uncle GroOve has a reputation beyond reputeUncle GroOve has a reputation beyond reputeUncle GroOve has a reputation beyond reputeUncle GroOve has a reputation beyond repute
Re: What is your definition of Rich and Poor in Switzerland?

Quote:
View Post
Hi,

Just had a couple of threads where rich and poor are being spoken about and I was wonding what you all think and appropriate definition of what a rich person is Switzerland is and what a poor person in Switzerland is?
Well - you know the Rules of the Third, right?
Max one third for rent, save one third for taxes, etc, and manage wisely the remaining third (i.e. don't leverage on credit cards, car leasing, etc).
What's left in that last third is what makes you rich or poor in monetary terms.
But...
How you enjoy whatever is in that last third can be what makes you happy - which in my book is better than being simply "rich" (God know how many times I've wondered why some folks seem perennially grumpy / down / sad even when they're hanging out in the most exclusive resorts....).

Ciao

Paul
__________________
>absence of evidence ≠ evidence of absence<
Reply With Quote
Reply

Tags
poor, rich, switzerland




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Rich dad poor dad? Annie_zh Finance/banking/taxation 80 29.08.2019 22:56
Super Rich Switzerland!! nilesh Swiss politics/news 28 23.11.2014 03:47
What is the Difference Between Rich and Poor People? Verbier General off-topic 45 15.09.2009 17:34
Poor li'l rich girl dod General off-topic 16 29.12.2007 18:12


All times are GMT +2. The time now is 10:40.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2022, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0