What would you define as being 'rich'?

[star-warrior]

Not a millionaire but
have a good living and can buy most things you want.

Wanting for something.... But that only suggests you're not rich enough to get what you want, assuming everything has a price

When you have enough money to no longer need to work, everything is paid for and you have more than enough, even for well into your retirement years. Where money is no object, even after purchasing a mansion with cash.

If I were rich, neither myself or anyone in my circle of friends and family would ever have a need to work again, unless they wanted to merely for the joy of working.

Wealth is about security and contentment of circumstance then.

I live within a comfortable bubble of economic prosperity within my demographic and social status. It could at any moment burst, however, and it would definitely set me back so I am not really totally comfortable. If I don't work I would be in some sort of trouble so I wouldn't say I'm rich - rich in spirit maybe. I just want to not have to work an hourly job and generate income passively somehow. I'm still looking at various ways, and hopefully within the next 5 years I can depend on just passive income, and at that point I will say I'm comfortable. The day I can just focus on my interests without worrying about monetary matters then I would say I'm rich.

Insecurity about the future drives the need to create wealth to weather the unknown. Again security lies in being prepared for the worst, and in that sense your life is rich when you are content.

 

[star-warrior]

If one is so named one is Rich. Otherwise he's likely Fred, or Steve, or Scott or some other name.

Have I introduced you to Sloppy?

well
-an so on-
tinku

how a globees rich define a bees a rich
_ans a extra extra extra large rich_
ans stuff wot no change

ueeeeew weeeeeee
"nose peg"
tinku

anway

tinku

wonda worlds supa pubwix figa
_teys noses?_
ha

Well said.

One can be sufficiently wealthy without being rich. Rich people are those who can afford a luxurious lifestyle like maintaining a spacious mansion, a big car, eating expensive food...

In one word: Vannie

I think Vannie's rich diet of cruciferous veg has given him an edge in the hydrocarbon business.

 

[star-warrior]

The minimum to be rich it to have enough wealth to live well from the income from investments without spending capital. For instance a millionaire used to be rich by definition. But it is difficult today to recieve a safe 5%. Even so 50, 000 might leave 40,000 after federal and state income and other taxes. You can live on $40,000, and many do, but without much luxury.

I guess there has to be some growth in your capital, otherwise with all the spending, your pot of gold is going to dwindle over your lifetime. So what you consider enough to live on relative to the growth in capital and the feeling of being wealthy or rich, depends if there is a surplus in income.

I'd say if you can afford to send your kids to private school, then to an ivy leauge college, live in a house that is worth what the top 25% of homes are worth in your area, go on lavish vacations overseas at least once a year, and retire by age 60 while leaving your kids a good 7 or 8 figure inheritance, then you are rich.

It can take decades of hard work and sacrifice to live that sort of lifestyle, one of my best friends growing up had a dad who was never home, was VP of sales or something for a publisher, spend probably 15-20 days a month in England. He retired like a king and made stupid money, eventually becoming CEO of that company, but man I kind of wonder if it was worth it, not seeing your kids grow up.

It seems like a psychological thing where people need to display their wealth or illusion of wealth to outsiders as a way to buttress your own ego. The oneupmanship of trying to compete by showing one's status all the time is somewhat gauche.

Ah kids. I know. They want all the latest gear

 

[Alnitak]

Rich implies membership in a small and exclusive club of people whom associate with each other and are expected to be able to afford certain luxuries unavailable to lower income levels, i.e. opulent primary residences, vacation homes, hired help, boats, luxury cars, expensive dining habits, etc. I have to roughly guess that the entry into this club starts at around $200k a year.

 

[star-warrior]

I honestly can’t answer. There was a time I wanted for nothing, but I never considered myself rich. Just good with money. I lived well below my means to be able to afford treating my crew to a meal or to pop off to Vegas for a while.


Interesting question. I look forward to how others answer.

Adding spice to life - that's what juggling your finances are like! Saving here, scrimping there, then a sudden splash out on yourself or your nearest and dearest.

Good health is ones greatest asset, and sufficient to ensure that ones good fortune can be built upon through hard work, endurance, and the patience to keep trying to improve ones life, until ones death day...when it ceases to matter.

I can't fault you on that. Good health is worth more than anything, especially when you want to share it with those nearest to you.

My experience with the very (money) wealthy over the years has been their fear of losing their money, property, and status among their friends, and acquaintances. Fear of losing their fortunes often drives the filthy rich to spend more on "appearances" to maintain the appearance of being wealthy...even when they have lost much of their wealth the result of their failing business, or investments gone sour.

There is nothing more depressing than a wealthy man, or woman crying into a glass of flat champagne dreaming of by gone days, when they were the toast of the town.

True. Possessions and attachments cloud our reality with fear of losing them. As for status amongst acquaintances, if they were really your friends, they wouldn't care how rich or poor you were. Only that you are well and content and if you have need for anything they'd be the first to lend a hand. Being rich in the friendship of people who love you is priceless.

 

[star-warrior]

Being rich requires being able to live the lifestyle you want and being able to accommodate any new circumstances without compromise and without needing to work to pay for it.

Financial security to enjoy life is a boon.

Rich implies membership in a small and exclusive club of people whom associate with each other and are expected to be able to afford certain luxuries unavailable to lower income levels, i.e. opulent primary residences, vacation homes, hired help, boats, luxury cars, expensive dining habits, etc. I have to roughly guess that the entry into this club starts at around $200k a year.

I guess ego plays a great role in how one percieves oneself and how one wants to be percieved.

 

[Alnitak]

I guess ego plays a great role in how one percieves oneself and how one wants to be percieved.

I'm not sure what you mean. I think there is just a culture of the rich that allows only members to afford things other can't solely because of money, not necessarily that they are haughty. If you have a million to blow, then why not wear a Patek Philippe watch? Then again there are not so rich people pouring precious resources into homes or cars they cannot afford to appear wealthy.

 

[Kyanimal]

Quite often a sparkly, lavish, exterior is put forth to mask a personal void within.

It's a sad thing to be a confidant of someone desperately seeking acceptance through "bling", while being miserable inside.

"Keeping up with the Jones's" can be an effort to mask one's own emptiness.

I've known those who strive to validate their "worth" through showing off their material possessions, in order to distract attention away from their own sense of lack of character, or confidence of Self.

 

[Benvolio]

Some people confuse a high income with being rich. One can have a very high income with very high expenses, including college for the kids and a home mortgage, and end up with little. Rich, properly defined is a matter of net worth, not income.

 

[kallipolis]

Quite often a sparkly, lavish, exterior is put forth to mask a personal void within.

It's a sad thing to be a confidant of someone desperately seeking acceptance through "bling", while being miserable inside.

"Keeping up with the Jones's" can be an effort to mask one's own emptiness.

I've known those who strive to validate their "worth" through showing off their material possessions, in order to distract attention away from their own sense of lack of character, or confidence of Self.

All to common with the latest model Apple mobile phone to "stay in touch" and project their self worth.

 

[sixthson]

Rich implies membership in a small and exclusive club of people whom associate with each other and are expected to be able to afford certain luxuries unavailable to lower income levels, i.e. opulent primary residences, vacation homes, hired help, boats, luxury cars, expensive dining habits, etc. I have to roughly guess that the entry into this club starts at around $200k a year.

Anyone desiring to be part of that exclusive club earning that income would have to live in debt. Many BMWs could cost over half that. A million dollar plus home would require a big mortgage that someone at that income level could never afford.
And if they have children, forget about it. Private elementary and secondary schools could easily be more than $20,000/year/child.

As others have said, lots of people have large incomes and still live beyond their means.

 

[peeonme]

There are different and varying circles of rich folks.
Some small business owners that draw a salary of $150,000 per year are viewed as rich and enjoy being seen as such by those who make 50,000.
Of course they are looked down upon by the 500,000 people and their paths seldom cross.

To me it seems to be a sad existence that one's value as a person should be defined by their net worth. Take away the money and what's left? A state of feeling worthless.

So, we have to ask what one's intrinsic worth is as a person. What properties does one possess that makes them of value to mankind?

Some people share their intellect, we draw from their wealth of accumulated knowledge that they feely share with those of us who are not as fortunate.

Some folks share kindness, they find a way to deal in a gentle fashion with their fellow man and shame those of us who come up short in that endeavor.

Some share happiness, they seem to make it infectious. Being around them lifts us above our usual state of despair and we remember how to smile.

Some share money, they see a fellow human in need and either give from their fortune or sacrifice and give from their normal hand to mouth state of existence.

This list of examples is hardly exhaustive, but to me it demonstrates how one can be a rich person.

 

[seioussuction69]

That's tough, it depends on where you live and what you are used to. To me, being rich means never having to work, or never having to worry about money.