At what point do you consider someone rich?

Most "rich" people I've talked to worried about money and their problems, but it's beyond my realm of comprehension.

You know, stuff like penny-pinching even though they have, I think at least, +1 million and well-off or worrying about things I don't even understand nor have the time for.

However, a few of them just don't seem to worry about anything. This might be dumb, but they look and sound different compared to other people. It seems like they are relaxed and care-free, all the time.
 
A million liquid with less than 200k in debt.
 
When they stop talking about making money and only worry about spending it.
 
I consider someone rich if they have total financial independence from an at-will employer that can decide to turn your life upside down from one day to the next. They don't rely on salary or wages. They have enough passive income flowing in that they can essentially retire before they're 60's or 50's. They also have diversified assets, in case market weakens in one of their cash centers. Rich people tend to make better choices than the average wage hound.
 
The moment when you make the transition from working for money to money working for you.

Experienced this first hand, because my parents were working as much as 100hrs a week in their early 30s to their early 40s until the business took off. In a few years, they "retire" from working day to day and got into real estate investment. They haven't "worked" in the traditional sense for over 20 years, but they are still making good money because they are collecting rent, interest, dividend, and profit from businesses.
 
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Conceptually, when they can without blinking lose an amount of money that would cripple me financially and psychologically.
 
Probably making over 500k a year. Wealthy is a whole other level though.
 
When they dont constantly worry about how much money they have in their account because "its alot"

what a lot is to people can vary greatly. I imagine it comes down to living a carefree lifestyle not constantly constrained to how much money you have. If i could own my house and make music all day, I would consider myself wealthy.
 
when you reach the level of "fuck you" money, you can basically say fuck you to everything and everyone
 
Fuck

Rich to me is just two incomes with no kids
 
Tamriel Terror said:
Pretty simple concept. Is it them having a large amount in assets? When they make >$250,000 a year? When they have >$1,000,000 in liquid cash? Expensive house?

At what point do you consider someone to be rich?
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a lot of that depends on where you live. you gotta figure that part out first.
 
When you no longer have to budget or worry about how much you're spending...
 
If you can quit your job and live at your current level of consumption for 10 years, I would consider you wealthy.
 
I personally think being 'rich' is to the point that you do not need to work (if you chose not to work) to support yourself and your family, while at the same time have more than enough money to sustain your lifestyle throughout your lifespan. I think for my situation $10 million would do the trick where I could live off interest alone and still generate wealth through investing. $20 million would be a much safer bet though.
 
When they have enough money that they can commit murder and walk.
 
Tamriel Terror said:
Pretty simple concept. Is it them having a large amount in assets? When they make >$250,000 a year? When they have >$1,000,000 in liquid cash? Expensive house?

At what point do you consider someone to be rich?
Click to expand...



I would say if they have millions of dollars and don't have to work for a living.


200k or just a bit more a year is nice, but it's not rich.
 
USA!USA! said:
shit, guess I have lower standards. six figure salary with no kids is fucking rich to me.
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If you owned property (like a house and so on) and pay all that comes with it, plus other expenses -you'd see that it's not rich at all. Not even close. You still have to go to work every day to keep up on everything. Unless you live some bullcrap minimalist lifestyle which isn't reasonable to ask everyone making that money to do. You want those people turning around and spending that money, making purchases and so on to help keep the economy rolling along.


7 figure salary or more a year is about there. But 6 figure isn't.
 
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