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How much $ makes you rich?

Originally posted by: Mrfrog840
what do you guys do that you make 100,000 plus a year?
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FOr most folks it is man and wife working normal jobs to reach 100k. These folks do not consider themselves rich, but the goverment sure does.
 
its total assets that make you rich, not just your money income.

of course, then you get people like in "millionaire next door" who lead very simple lives but have large bank statements, and you get to wondering, wth is the point of having money if you're not gonna spend it?
 
Originally posted by: ElFenix
its total assets that make you rich, not just your money income.

of course, then you get people like in "millionaire next door" who lead very simple lives but have large bank statements, and you get to wondering, wth is the point of having money if you're not gonna spend it?
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Early retirement.
 
I won't consider myself "rich" until I'm making at least 250k. Even then, if you have a family of four, you'll only be well off, living comfertably, but by no means rich.
 
You are rich when you have enough money to never work again. Instead, you spend the interest earned from the principal.
 
Originally posted by: charrison
Originally posted by: Mrfrog840
what do you guys do that you make 100,000 plus a year?
Click to expand...

FOr most folks it is man and wife working normal jobs to reach 100k. These folks do not consider themselves rich, but the goverment sure does.
Click to expand...

Exactly. 2 parents working full time. 2-3 children (think of the college bills and you get jack sh1t financial aid... not even loans). 2-3 cars. That $100k ain't all that. Not where they are really worrying about the next paycheck but its not their even close to spending freely.

In my experiences, they consider you rich if you make more than them.

 
Originally posted by: charrison
Originally posted by: ElFenix
its total assets that make you rich, not just your money income.

of course, then you get people like in "millionaire next door" who lead very simple lives but have large bank statements, and you get to wondering, wth is the point of having money if you're not gonna spend it?
Click to expand...

Early retirement.
Click to expand...

thats still spending it. some of these people didn't sound like they were ever going to spend it
 
Originally posted by: Josephus
Rich is realizing that money does not make you wealthy... merely a servant of capitalisim....😕
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I disagree. Money makes you free, and without it you're a servant and a slave.
 
My wife and I brought in $83K last year, and with mortgage, car payments, student loans, previous debts (DON'T use credit cards!!!!), and other bills, we're about paycheck to paycheck. We'll be better off when we can pay off debt, we'll be able to save more. $83K doesn't leave much leeway for monthly debt payments, so it's far from rich. No kids yet either. Need about $100K for kids!
 
I would say much more than that, but it depends on your definition of "rich"...and also your circumstances, whether you're single, have a wife/SO or have a full family. If you're single, 60K a year would be "comfortable" to me, but I wouldn't be able to afford the niceties that i would want. Oh well, all in good time. 🙂
 
i think rich is about 500k a year.

Statistically, i heard less than 2% of America even makes 200k.

To me, really rich is 1M a year, and above 5m a year [net] and you're king.
 
This question really depends on what the living epenses are in your area but I would say if you could pay cash for a upper middle class house in two years assuming you saved every penny that would make you rich.

Around here that is about 250k USD after taxes.
 
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