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How much $ makes you rich?

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I'm 22, make 31K per year and have a net worth of about 10K. (liquid)

I consider myself to be having a good start. I have a computer engineering degree from a top engineering school, but alas my GPA didnt bode well. (3.1) so I'm stuck in a dead end job. I defintiely recommend reading "Millionaire Next Door" I've pretty much used their ideas to control my expenses and make my money grow. I invest aggressively and spend frugally.

Wealth is when you can afford to retire and continue living with your current lifestyle. Live below your means and you will get rich in time. Sure I wish I made more money, but even at 31K, I know I can reach my goals, coz I am on the right track.

 
My dad made probably about 50k last year and thats after working for the same company 27 years. I consider ourselves rich. We live in a simple house (70k) and have older vehicles (gonna buy a newer accord here shortly). I made 12k myself last year working while attending school full time. My dad really watches his money and he has invested wisely. I have 2 brothers and there is enough money saved up for all of our college tuition which is really nice.
 
Originally posted by: KC5AV
You guys have it all wrong. It depends entirely on which political party you listen to...
Click to expand...

That's what I'm trying to figure out. Liberal politicians are telling me that Bush's tax cuts are only going to the most wealthy. But, I know that those tax cuts would go to me. But I make less than 35k per year, my wife makes less than 22k per year. But yet, based on their accusations, I'm wealthy. What's the deal with that?

Most people are getting tax refunds this year, but me, I now have to pay an additional $1800. :|
 
Being rich has absolutely nothing what so ever to do with how much money you make a year. It has to do with how much you have in the bank or in liquid assets. And since most Americans (>90%) have less than $3,000 in the bank, I'd say $10,000 in assets makes you rich. However, really rich would be >$50,000 in the bank.
 
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