At what point do you consider someone rich?

[D3THRONED]

single 300k+ to me is rich. Wealthy imo is single an 100k+

 

[ClubFoot]

Rich is when you no longer have to eat Cup Noodles and can now afford a steak with ketchup.

Rich is when you eat Cup Noodles because you are sick of eating steak with ketchup.

 

[AGGAMEMNON66]

Minimalist bullcrap existence is the way to go. I can't wait to get rid of my cars, my last house, and move to a 600sqft condo + a storage locker for sports equipment.

That's fine, for you. But it's not realistic to expect everyone making that money to do it too. I would also rather have people earning that kind of money turning around and spending it on all kinds of goods and services rather than hoarding their money.

 

[AGGAMEMNON66]

To me, being rich is living beyond comfortably - 200k would do that for me.

Again, just saying 'x amount would it for me' isn't 'rich', per se. I mean, there are plenty of people that need 40k or less a year and that's good enough for them.

Combined income of 200k in a household isn't that difficult to come by. Even just 1 person making that while the other stays home doesn't make you rich either. Especially if you're going to have a couple of kids and own shit too.

 

[GSP_37]

Rich to me is 1 million+ in your bank

The rich didn't get rich from leaving $1 mil in the bank. See below.

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.

Good point.

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.

Very good point.

 

[Dinotective]

When they stop posting on Sherdog because they can afford real entertainment

 

[j123]

Whenever I enter a room and have $1 more than everyone

 

[Supereem]

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?

10 million usd net worth excluding residential home to 30 million usd. Anything less than 10 million is middle class within the anglosphere and Europe.

 

[nostradumbass]

Depends on where they live. In NYC, disposable $5 million(meaning home paid off or more than covered by income) is getting there. Any medium to small city, $1 million disposable. That's not to say you can't blow that much, but that's past the amount you'd need to invest to see real income.