What is rich?

[Anonymous]

Entry level rich is different than what the previous posters are talking about. I would say, rich is the top 10% based on either income or net worth.

[Anonymous]

Anonymous wrote:

Anonymous wrote:The other two recent posts about rich people got me thinking. What is rich? To me, the difference is do you have to work to maintain your wealth/status/lifestyle. We belong to the top 1% both in terms of NW and HHI, but all of this would evaporate if I lost my job. So I don’t feel rich. Wealthy? Yes. But rich? No.

I agree with this post. Being able to maintain lifestyle without having to work.

But as the other poster said, what lifestyle? Any lifestyle, or a wealthy person’s lifestyle?

And how long do you need to sustain it for? Because a bunch of people are using the 4% rule outside of retirement, which I don’t think it’s meant for.

[Anonymous]

Horses are the only richness measure I care about.

Having 2-4 at a time in full training and showing is rich, even if you don’t go to Florida.

[Anonymous]

Anonymous wrote:

Anonymous wrote:My friend’s parents have a $60m house in Florida. You’d know their name. They are rich.

Mar a lago was not valued that high, after all.

There is a sense of humor on DCUM after all.

[Anonymous]

Anonymous wrote:The other two recent posts about rich people got me thinking. What is rich? To me, the difference is do you have to work to maintain your wealth/status/lifestyle. We belong to the top 1% both in terms of NW and HHI, but all of this would evaporate if I lost my job. So I don’t feel rich. Wealthy? Yes. But rich? No.

Being rich really has nothing to do with whether you can lose it in case something bad happens. By that definition, even billionaires won’t be rich because you’ll find many who worry about their fortune evaporating.

Many super rich people have massive investments that bring them a lot of money. Just like you, they worry about the possibility of those investments crashing down one day and losing everything.
It doesn’t remove the fact that they are super rich.

[Anonymous]

Jeff must really love people like the OP. They rehash the same questions over and over and over again—I wonder if this also happens in the other forums besides Money and Finances—and he gets endless engagement and ad revenue every time some idiot creates a thread asking, “You know, the other thread got me thinking – how much do you *really* have to earn to be considered upper middle class instead of middle class?”

Gee, I don’t know. Why don’t you go back and check the 10-page thread on that exact topic from 16 days ago?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The other two recent posts about rich people got me thinking. What is rich? To me, the difference is do you have to work to maintain your wealth/status/lifestyle. We belong to the top 1% both in terms of NW and HHI, but all of this would evaporate if I lost my job. So I don’t feel rich. Wealthy? Yes. But rich? No.

I agree with this post. Being able to maintain lifestyle without having to work.

But as the other poster said, what lifestyle? Any lifestyle, or a wealthy person’s lifestyle?

And how long do you need to sustain it for? Because a bunch of people are using the 4% rule outside of retirement, which I don’t think it’s meant for.

[Anonymous]

Most people don’t think you need PJ money to be rich. Just because you happen to put those people on a pedestal doesn’t make them the only definition of rich.

https://www.kiplinger.com/personal-finance/605075/are-you-rich#:~:text=U.S.%20wealth%20percentiles%20provide%20clearer,a%20person%20as%20being%20wealthy.

[Anonymous]

Anonymous wrote:

Anonymous wrote:The other two recent posts about rich people got me thinking. What is rich? To me, the difference is do you have to work to maintain your wealth/status/lifestyle. We belong to the top 1% both in terms of NW and HHI, but all of this would evaporate if I lost my job. So I don’t feel rich. Wealthy? Yes. But rich? No.

Being rich really has nothing to do with whether you can lose it in case something bad happens. By that definition, even billionaires won’t be rich because you’ll find many who worry about their fortune evaporating.

Many super rich people have massive investments that bring them a lot of money. Just like you, they worry about the possibility of those investments crashing down one day and losing everything.
It doesn’t remove the fact that they are super rich.

No, lol. You don't worry about a billion dollars "evaporating."

[Anonymous]

Generational wealth (inheritance), properties owned outright, no debt.

[Anonymous]

Anonymous wrote:Generational wealth (inheritance), properties owned outright, no debt.

The obsession with “no debt” on this board is fascinating.

Trust me, many unquestionably rich people have loads of debt.

[Anonymous]

Anonymous wrote:Entry level rich is different than what the previous posters are talking about. I would say, rich is the top 10% based on either income or net worth.

130k salary barely squeezes you into the top 10%. Does that mean someone making 130k is rich?

[Anonymous]

Rich to me is net worth not HHI. Generational wealth or significant passive income that would allow someone to live very comfortably without wage or self-employment income.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My friend’s parents have a $60m house in Florida. You’d know their name. They are rich.

Mar a lago was not valued that high, after all.

TDS? There's medicine for that, please leave your political mental illness out of the non politics forum. I hate people like you. You are so f g exhausting.

DP. It's a joke, jackass. Maybe don't project your problem onto others.

[Anonymous]

Anonymous wrote:The other two recent posts about rich people got me thinking. What is rich? To me, the difference is do you have to work to maintain your wealth/status/lifestyle. We belong to the top 1% both in terms of NW and HHI, but all of this would evaporate if I lost my job. So I don’t feel rich. Wealthy? Yes. But rich? No.

How would your NW evaporate if you lost your job?