What HHI is indisputably RICH in a HCOL area?

[Anonymous]

Like NYC or SF. Not UMC but actually rich. Able to afford just about anything except a personal private jet (but maybe a jet share) type of rich.

[Anonymous]

5 mil a year minimum.

[Anonymous]

300k

[Anonymous]

Anonymous wrote:300k

Uh…NO.

[Anonymous]

$10 mil

[Anonymous]

Anonymous wrote:5 mil a year minimum.

This sounds right.

We have a $2-3m HHI and while we know our incomes puts us in the top 1%, we are not that rich. We only recently started flying business class and that is only when prices are reasonable. We will upgrade for $2k but not 5k per person.

[Anonymous]

5m

[Anonymous]

Who cares? Seriously? In the abstract, why would people care about this other than to keep score?

The better approach is to ask what you need for a happy life. In the real world, most people don’t care about owning multiple homes, driving $100k cars, etc. Rather, most people would be more than happy to have a 3000 sq ft home in a good school district, two reliable cars, decent 529 and retirement savings, and a couple of standard family vacays. That requires a good income, but not an indisputably rich one.

[Anonymous]

Anonymous wrote:Who cares? Seriously? In the abstract, why would people care about this other than to keep score?

The better approach is to ask what you need for a happy life. In the real world, most people don’t care about owning multiple homes, driving $100k cars, etc. Rather, most people would be more than happy to have a 3000 sq ft home in a good school district, two reliable cars, decent 529 and retirement savings, and a couple of standard family vacays. That requires a good income, but not an indisputably rich one.

Speak for yourself. I absolutely care about having a second home and traveling the world in style.

[Anonymous]

Anonymous wrote:

Anonymous wrote:5 mil a year minimum.

This sounds right.

We have a $2-3m HHI and while we know our incomes puts us in the top 1%, we are not that rich. We only recently started flying business class and that is only when prices are reasonable. We will upgrade for $2k but not 5k per person.

Pff, be serious. You make in a year what the median family in San Francisco make in 14-22 years at your stated range.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Who cares? Seriously? In the abstract, why would people care about this other than to keep score?

The better approach is to ask what you need for a happy life. In the real world, most people don’t care about owning multiple homes, driving $100k cars, etc. Rather, most people would be more than happy to have a 3000 sq ft home in a good school district, two reliable cars, decent 529 and retirement savings, and a couple of standard family vacays. That requires a good income, but not an indisputably rich one.

Speak for yourself. I absolutely care about having a second home and traveling the world in style.

DP. This just means that you are a superficial and materialistic POS and doesn’t discount what the PP was saying.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Who cares? Seriously? In the abstract, why would people care about this other than to keep score?

The better approach is to ask what you need for a happy life. In the real world, most people don’t care about owning multiple homes, driving $100k cars, etc. Rather, most people would be more than happy to have a 3000 sq ft home in a good school district, two reliable cars, decent 529 and retirement savings, and a couple of standard family vacays. That requires a good income, but not an indisputably rich one.

Speak for yourself. I absolutely care about having a second home and traveling the world in style.

Why?

[Anonymous]

I dated girl in NY in 1991 her Mom was loaded. I recall at dinner she took a two minute call and said that’s $3,000 commission.

She has like 300 houses and crazy she only took cash for her rent. And she just kept buying more homes. She had a house she paid one million for in 1975.

Her uncle actually bought a yacht he saw on Lifestyle's of the Rich And Famous. He also owned a waterfront home on Great Gatsby Lane in Kings Point. They even had a $500 a plate wedding in 1992 I attended with 500 people.

These were truly rich. I never really met other rich people like that.

[Anonymous]

Hi? Anything after $800k if you are relying on income. If one spouse looses their job and the other one still has $400 coming in they’ll be ok.

Nw over $6M also rich if at least half is liquid.

[Anonymous]

NW over 10M.

Income is meaningless. If you bring in 1M and burn through it in a year, you're still poor.... and probably stupid too.