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What do you consider "Rich"

T

TheChort

Diamond Member
I know there are a lot of people that have property, but the property or business needs to be bringing in some kind of money, or accrual.

So, if we consider total household income, what is "RICH"?
 
A couple of factors that need to be included:

Do they own their home?
Where in the country do they live?
 
$100k isn't close to being rich. $300k+ and you can probably separate yourselves from the majority of families.
 
Originally posted by: Kwaipie
A couple of factors that need to be included:

Do they own their home?
Where in the country do they live?
Click to expand...

I agree,
but how would that info be incorporated into a simplified poll?
 
Originally posted by: TheChort
Originally posted by: Kwaipie
A couple of factors that need to be included:

Do they own their home?
Where in the country do they live?
Click to expand...

I agree,
but how would that info be incorporated into a simplified poll?
Click to expand...
It doesn't have to be, did you ask US what WE consider rich ?
 
To republicans rich is 1 billion+, to democrats rich is 100,000+, in reality rich is around 250,000 a year family income.
 
Originally posted by: StatsManD
To republicans rich is 1 billion+, to democrats rich is 100,000+, in reality rich is around 250,000 a year family income.
Click to expand...

and the winner for most sweeping generalization of the year goes to...
 
rich is when you don't need to work to pay your bills...

If you can live on a nickle a day, it doesn't take much to be rich.
 
Originally posted by: StatsManD
To republicans rich is 1 billion+, to democrats rich is 100,000+, in reality rich is around 250,000 a year family income.
Click to expand...

lol...you have one thing wrong, democrats think $60k is rich.
 
Originally posted by: rh71
Originally posted by: TheChort
Originally posted by: Kwaipie
A couple of factors that need to be included:

Do they own their home?
Where in the country do they live?
Click to expand...

I agree,
but how would that info be incorporated into a simplified poll?
Click to expand...
It doesn't have to be, did you ask US what WE consider rich ?
Click to expand...

yup
I was just wondering if Kwaipie could give me some insight into his/her point
 
can you afford whatever luxury you want whether it be new car, vacation in exotic place, new house, new boat without even thinking about being able to afford it or not? if so, you're rich 🙂
 
I went with $200k, assuming this is not in one of the areas of the country with the highest cost of living (i.e. California, the Boston-D.C. megalopolis). $200k a year in Indiana would leave you with an assload left over after living expenses. If you're talking Ferrari rich, then it'd be much higher. 🙂
 
Originally posted by: spidey07
Rich is wealth.

Has nothing to do with income.
Click to expand...
I read Millionaire Next Door. I wanted to throw it through a window, except it was paperback. 😉 I suppose more recommendations will come...
 
Demographics play a huge part in this poll.

I'm in Atlanta and consider $300,000/yr+ household income to be somewhat rich. I know I'll probably never fall into that category, but I'm fine with that. Most homes around the Dunwoody area go from $350,000-$600,000. I just want to buy something in the $200,000 range.
 
There's a big jump going from "well off" to "rich".

Well off would be around $250k for much of the non coastal areas, and around $300k-$400k for the coasts. "Well off" affords you the ability to live very comfortably and save for your future without any worries. But you still have to be mindful of your spending.

Beyond that and you start approaching the "rich" level where you can start being a little more wreckless with your spending and really have leverage to put your money into significant earning possibilities.

 
Originally posted by: rh71
$100k isn't close to being rich. $300k+ and you can probably separate yourselves from the majority of families.
Click to expand...

Except that the majority of families make less than 50k a year. So if you make well over that, say double, then you're actually seperated from the majority.
 
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