How do you define rich/wealthy?

[shadow9d9]

I define wealth based on savings. 1-2 million is wealthy. More than 2 is rich. .5-1 million is comfortable.

 

[alkemyst]

I define wealth based on savings. 1-2 million is wealthy. More than 2 is rich. .5-1 million is comfortable.

Savings ain't going to be much today bro.

Most need a net worth of more than $10MM to feel rich and even then most want more.

It's about the Billionaire level today that people really stop caring.

 

[shadow9d9]

Savings ain't going to be much today bro.

Most need a net worth of more than $10MM to feel rich and even then most want more.

It's about the Billionaire level today that people really stop caring.

If you live like a billionaire, while having only 2 million, then yes, you may not "feel" rich. You could have 1 billion and spend like you had 2 billion. So what?

With 2 million, you should be able to retire at any time you want and live a reasonably comfortable lifestyle. The numbers I provided are my opinion and no one else is forced to adopt them.

Since you've admitted to having very little in savings and continue to take in people who won't work and marry them, this is not likely to change anytime soon. You can pretend that you have experience with what it takes to feel rich, but you've never been anywhere in the ballpark of my definition of "comfortable." I have much more actual experience in each monetary range.

 

[IronWing]

What do you drive?

I got rid of my Olds because I didn't want to afford the insurance. :\

 

[alkemyst]

If you live like a billionaire, while having only 2 million, then yes, you may not "feel" rich. You could have 1 billion and spend like you had 2 billion. So what?

With 2 million, you should be able to retire at any time you want and live a reasonably comfortable lifestyle. The numbers I provided are my opinion and no one else is forced to adopt them.

Since you've admitted to having very little in savings and continue to take in people who won't work and marry them, this is not likely to change anytime soon. You can pretend that you have experience with what it takes to feel rich, but you've never been anywhere in the ballpark of my definition of "comfortable." I have much more actual experience in each monetary range.

Savings to me is pure liquid cash.

However; the opinions of those with REAL money unlike you that just tells a story about things shows them saying the marker for RICH is like way past a million bucks.

To set the logic straight for you, you are the guy in a trailer park of single wides and people riding bikes to work that shows up with a double/triple wide and two beat up Camero's and a rusted out full-sized pickup as the Boss in that hood.

Good game, bro. You lost.

 

[Yuriman]

Savings to me is pure liquid cash.

However; the opinions of those with REAL money unlike you that just tells a story about things shows them saying the marker for RICH is like way past a million bucks.

To set the logic straight for you, you are the guy in a trailer park of single wides and people riding bikes to work that shows up with a double/triple wide and two beat up Camero's and a rusted out full-sized pickup as the Boss in that hood.

Good game, bro. You lost.

So wealth is lifestyle inflation?

 

[shadow9d9]

Savings to me is pure liquid cash.

However; the opinions of those with REAL money unlike you that just tells a story about things shows them saying the marker for RICH is like way past a million bucks.

To set the logic straight for you, you are the guy in a trailer park of single wides and people riding bikes to work that shows up with a double/triple wide and two beat up Camero's and a rusted out full-sized pickup as the Boss in that hood.

Good game, bro. You lost.

Like I tell you in every thread... You can't just make things up and present them as facts. I don't need to dispute your claims, because you just make them up on the spot when you feel threatened/jealous.

I explained my reasons for the numbers I used. Since you admittedly(different from me having to making something up) have no money, with your litany of excuses for your failures, all you have is guesswork and make believe to go on.

You are so predictable at this point, that I think I am going to preemptively call out what your responses will be in future threads. Feel jealous/angry/bitter, make something up, declare it to be the new truth, declare that you won. At the same time, you will make excuses for all of your failures and take responsibility for nothing. Of course, you could get so flustered that you resort to posting wannabe tough guy threatening pics as well.

 

[alkemyst]

So wealth is lifestyle inflation?

Not at all. In every phase of what wealth or being 'RICH' means, the lifestyles are pretty much the same.

 

[AznAnarchy99]

Chris Rock on Rich vs. Wealthy.

https://www.youtube.com/watch?v=4m37JkkGjAY

"Shaq is rich, the white man who signs his check is wealthy"

 

[alkemyst]

Like I tell you in every thread. You can't just make things up and present them as facts. I don't need to dispute your claims, because you just make them up on the spot when you feel threatened/jealous.

I explained my reasons for the numbers I used. Since you admittedly(different from me having to making something up) have no money, with your litany of excuses for your failures, all you have is guesswork and make believe to go on.

I posted in my divorce after paying for a full household relocation to Japan, I still had to liquidate a 401K. My ex wanted that 401K killed. She was sad I was profiting so much and fucking other girls (which was what she told be to go do).

That 401K was only a $10k investment but in a year was at $14k. She wanted to kill off my pet projects.

I am not going to liquidate anymore of my retirement. I am not going to publicly talk about that retirement either.

I am making a great wage now, however; less than the comparable wage I was making in the past esp with the perks.

You will never prove shit about your life.

 

[Humpy]

You can't just make things up and present them as facts.

There are thousands of posts here that says he can.

 

[ultimatebob]

Personally, I think that you're officially "wealthy" when you can afford more than one house and your own airplane.

The airplane thing is something that I've noticed while watching people luckier than myself moving their way up through corporate America. Once guys get up to the Director level, they suddenly get interested in taking up flying. Once they get to VP level, they have their own plane. And usually a BMW.

Once they hit Senior VP, they also have a nice boat and a vacation house somewhere.

 

[shadow9d9]

I posted in my divorce after paying for a full household relocation to Japan, I still had to liquidate a 401K. My ex wanted that 401K killed. She was sad I was profiting so much and fucking other girls (which was what she told be to go do).

That 401K was only a $10k investment but in a year was at $14k. She wanted to kill off my pet projects.

I am not going to liquidate anymore of my retirement. I am not going to publicly talk about that retirement either.

I am making a great wage now, however; less than the comparable wage I was making in the past esp with the perks.

You will never prove shit about your life.

Prove? Do you think you are proving anything simply by posting it? How are your statements any more credible than mine?

Also, no one is interested in your litany of excuses for your failures. You just took in a married woman and her kids and were "engaged" while she was being divorced. This will be your 3rd. You can't claim bad luck or circumstances beyond your control when you continue to make the same boneheaded decisions that have brought you to where you are now.

 

[Eug]

OP, your wife's definition is nice in a touchy-feely sort of way, but that's it. It doesn't really mean much otherwise.

Furthermore, in US or Canada, if your yearly income is only $15000, it's hard to be all that touchy-feely nice-nice because the amount of money is getting close to the poverty line even for single person, and is below the poverty line for a family. Money will be a problem. At that level of income, just things like paying next month's rent and buying bus passes become a constant concern.

No, you don't need a 6-digit $ amount to live a "rich" life in terms of happiness, but it's just that much harder to live happily if you're worrying about feeding your kids.

Basically if my daughter said she wanted to quit school and work at Wal-Mart because the $15000 she makes will be enough to make her happy, I'd smack her upside the head (figuratively) and tell her to get her nose back into those books.

I define wealth based on savings. 1-2 million is wealthy. More than 2 is rich. .5-1 million is comfortable.

If I had the equivalent of $500000 at age 65 to fund the rest of my retirement, I'd be worried. I suggest people plan for at least a 25 year retirement, considering that around here, the average lifespan at age 65 is 19 years for males and 22 years for females. That's average, including all those people who are heavy smokers and have bad heart disease. Imagine if you're in very good health at age 65. You could live for another 30 years. Hell, my grandpa lived until 99, and he was a heavy smoker until his 80s. Then he was still a smoker in his 90s, just not as much.

In fact, if I didn't already have a defined benefit pension plan, I'd plan for a 30 year retirement, not 25. In that context, $500000 at age 65 won't get you far if you're used to a middle class lifestyle.

 

[shortylickens]

A lifestyle that the vast majority of people can't afford.

Yeah, its not a definite number. Its all relative.

The average American is rich compared to most of the world. They think its weird we argue about how to apportion our massive budget. Do we give a trillion to welfare, or a trillion to the military?
Thats insane compared to the hardship many countries deal with.

 

[alkemyst]

There are thousands of posts here that says he can.

Please find a real lie of what I have told.

You realize I am one of the few that have posted bank statements, test scores, college transcripts, etc?

Just live instead of bitch.

I simply have no liquid savings right now (like 5 figures and more), everything I am keeping locked in retirement due to my mortgage situation. Only untouchable assets left really.

 

[shadow9d9]

Personally, I think that you're officially "wealthy" when you can afford more than one house and your own airplane.

The airplane thing is something that I've noticed while watching people luckier than myself moving their way up through corporate America. Once guys get up to the Director level, they suddenly get interested in taking up flying. Once they get to VP level, they have their own plane. And usually a BMW.

Once they hit Senior VP, they also have a nice boat and a vacation house somewhere.

The problem is, how do you define "owning" a house? Outright paid off? Huge mortgage? Is it a home in Alabama or NYC?

"Owning" a BMW...Well, it could be financed. many people like to show that they have wealth, even when in reality, they don't.

If you think about it, let's say you have 1 million saved. Take another person, that has 2 500k houses paid outright. They are kind of the same, but I'd say that since the 1 million paid doesn't have to pay property taxes on two homes, nor the maintenance/insurance that goes with it, that the person with savings is more wealthy.

 

[shadow9d9]

OP, your wife's definition is nice in a touchy-feely sort of way, but that's it. It doesn't really mean much otherwise.

Furthermore, in US or Canada, if your yearly income is only $15000, it's hard to be all that touchy-feely nice-nice because the amount of money is getting close to the poverty line even for single person, and is below the poverty line for a family. Money will be a problem. At that level of income, just things like paying next month's rent and buying bus passes become a constant concern.

No, you don't need a 6-digit $ amount to live a "rich" life in terms of happiness, but it's just that much harder to live happily if you're worrying about feeding your kids.

Basically if my daughter said she wanted to quit school and work at Wal-Mart because the $15000 she makes will be enough to make her happy, I'd smack her upside the head (figuratively) and tell her to get her nose back into those books.


If I had the equivalent of $500000 at age 65 to fund the rest of my retirement, I'd be worried. I suggest people plan for at least a 25 year retirement, considering that around here, the average lifespan at age 65 is 19 years for males and 22 years for females. That's average, including all those people who are heavy smokers and have bad heart disease. Imagine if you're in very good health at age 65. You could live for another 30 years. Hell, my grandpa lived until 99, and he was a heavy smoker until his 80s. Then he was still a smoker in his 90s, just not as much.

In fact, if I didn't already have a defined benefit pension plan, I'd plan for a 30 year retirement, not 25. $500000 won't get you far if you're used to a middle class lifestyle.

Very true. Age is definitely a modifier.

500k for a 25 year old is different than a 65 year old.

So, assume that the numbers I provided earlier applies to a 55 year old. I still say that 500k-1 million is comfortable, just because a majority of people have nowhere near that at that age.

 

[alkemyst]

Yeah, its not a definite number. Its all relative.

The average American is rich compared to most of the world. They think its weird we argue about how to apportion our massive budget. Do we give a trillion to welfare, or a trillion to the military?
Thats insane compared to the hardship many countries deal with.

Each one of those little fuckers are trying to make themselves a King in that situation...it's human nature.

 

[shadow9d9]

Please find a real lie of what I have told.

You realize I am one of the few that have posted bank statements, test scores, college transcripts, etc?

Just live instead of bitch.

I simply have no liquid savings right now (like 5 figures and more), everything I am keeping locked in retirement due to my mortgage situation. Only untouchable assets left really.

Read what he was responding to. You habitually MAKE THINGS UP and present them as facts/reality.

Let's say you posted bank statements(what would this prove)? That would prove that you have X amount in a bank at one specific time. This is not what I claimed you do.

I claimed that when you don't like/get jealous of what someone else says, you start making statements about what you WISH the other person's life is, and then argue against this made up version of reality as if it had any merit. It does not. Even if you gave your social security number to us and gave us access to every facet of your life, it STILL would not give any credence to your made up assertions about other people. Period.

 

[ultimatebob]

^ this, ladies and gentlemen, is how you define rich/wealthy

That doesn't sound wealthy to me... it sounds like his ex-wife destroyed him!

 

[alkemyst]

Read what he was responding to. You habitually MAKE THINGS UP and present them as facts/reality.

Let's say you posted bank statements(what would this prove)? That would prove that you have X amount in a bank at one specific time. This is not what I claimed you do.

I claimed that when you don't like/get jealous of what someone else says, you start making statements about what you WISH the other person's life is, and then argue against this made up version of reality as if it had any merit. It does not. Even if you gave your social security number to us and gave us access to every facet of your life, it STILL would not give any credence to your made up assertions about other people. Period.

I posted those bank statements when people challenged what I bought.

Yeah, like I have mentioned it's easy to post a 5 figure bonus that was payment for 5+ years.

Whatever, bro. I am going to head out soon and go eat somewhere nice.

With your .5-$1MM savings you can't find anywhere else to go.

So who is really lying?

 

[JoeyM]

I know a lot of people who make a lot of money, many of whom would be considered rich by the posters in this thread. They are comfortable and secure but not rich. In my opinion, the easiest and most reliable way to identify the truly wealthy is by their staff. People who have full time staff on their personal payroll such as butler, chef, caretaker, chauffeur, personal secretary, etc. are the really rich and they all have staff. IMO, you need $10 mil in the bank to be genuinely secure and comfortable, able to live a high end lifestyle and you need much more than that to have staff.

Joe M.

 

[alkemyst]

That doesn't sound wealthy to me... it sounds like his ex-wife destroyed him!

No, I was happy to pay her way. I did the divorce paperwork.

 

[alkemyst]

I know a lot of people who make a lot of money, many of whom would be considered rich by the posters in this thread. They are comfortable and secure but not rich. In my opinion, the easiest and most reliable way to identify the truly wealthy is by their staff. People who have full time staff on their personal payroll such as butler, chef, caretaker, chauffeur, personal secretary, etc. are the really rich and they all have staff. IMO, you need $10 mil in the bank to be genuinely secure and comfortable, able to live a high end lifestyle and you need much more than that to have staff.

Joe M.

Correct. Once you are paying people to do shit for you (not some small business idiot), you are rich.

You are paying probably $100k+ a year in payroll just for ONE of your homes.