In your opinion how rich is really rich?1 M net worth 5 , 10??????

[Anonymous]

How much money does someone have to have for you to consider them really Fing rich?

[Anonymous]

More money than I have

[Anonymous]

In total assets, certainly not the numbers you mention, which are quite low.
It also depends on income, expenses, nature of assets, etc.

We have 1-2M in net worth and have very little to spend because our income is low. Our capital is tied up right now and for many years to come, to maximize growth when we will really need the money.

Our neighbors probably think we are dirt poor

[Anonymous]

$10 million.

Never having to wear the same pair of socks twice, Having no idea how much is in their current account at any time, never having to consider expense when booking a holiday, booking business class for personal travel.

[Anonymous]

Way way over $1M. We are coming up on that, and we live in a small condo with 1 car, relatively little savings, underfunded retirement savings, and almost nothing saved for college. I'm not complaining, but I'm also not anywhere close to rich.

[Anonymous]

10 million

[Anonymous]

15-20 million with everything paid off.

[Anonymous]

Rich isn't just about money cause money comes and goes. Rich is primarily about power and relationships within a certain class that allow you to sustain a certain lifestyle.

So for instance a black man with a net worth of 10million dollars isn't half as rich as a white man who makes $250,000 a year cause the white man either has power or he has relationships with people in power within a certain class that enable him to sustain his lifestyle no matter what ill-fortunes may befall him whereas if hard times fall on the black man he will be broke before you can say "N%gger, get your black ass outta here!"

[Anonymous]

15 million with everything paid off.

[Anonymous]

Anonymous wrote:Rich isn't just about money cause money comes and goes. Rich is primarily about power and relationships within a certain class that allow you to sustain a certain lifestyle.

So for instance a black man with a net worth of 10million dollars isn't half as rich as a white man who makes $250,000 a year cause the white man either has power or he has relationships with people in power within a certain class that enable him to sustain his lifestyle no matter what ill-fortunes may befall him whereas if hard times fall on the black man he will be broke before you can say "N%gger, get your black ass outta here!"

Are you for real? I would bet a person of any race that has a net worth of $10m is very smart and has plenty of contacts and rich friends- prob more than your average person making 250k. My hhi is not quite $200k and we don't know rich and powerful people.

[Anonymous]

Anonymous wrote:Way way over $1M. We are coming up on that, and we live in a small condo with 1 car, relatively little savings, underfunded retirement savings, and almost nothing saved for college. I'm not complaining, but I'm also not anywhere close to rich.

How do you have a net worth of a million dollars if you live in a small condo and don't have any savings?

[Anonymous]

I have a new worth of close to 1 mil, based on the value of the house and savings. I can assure anyone, I am not rich. I started with nothing but an education 20 years ago (no debt, though). I worked my way up, saving stock bonus, etc. My income is 150K.

Rich is enough that you don't have to worry about things. For me, it would be enough money such that the money does the work -- not me. If I had enough to generate 500k, which would be about 10 mil, I would be rich.

[Anonymous]

Anonymous wrote:I have a new worth of close to 1 mil, based on the value of the house and savings. I can assure anyone, I am not rich. I started with nothing but an education 20 years ago (no debt, though). I worked my way up, saving stock bonus, etc. My income is 150K.

Rich is enough that you don't have to worry about things. For me, it would be enough money such that the money does the work -- not me. If I had enough to generate 500k, which would be about 10 mil, I would be rich.

This is very, very similar to our situation -- and no, it's not rich. Rich has got to be at least 10X higher!

[Anonymous]

Rich, to me, is about never having to concern oneself with expenses, nor retirement, nor college, nor any day to day expenses, nor even having to worry about your children's retirement or that your grandkids. Truly rich means that there are no, or few, tradeoffs to make: the house you want in the area you want, with the school you want, eating what you want, when you want, how you want, traveling when you want, where you want, at whatever hotel you want, without so much as a concern or thought of any kind as to whether you can afford it. Truly rich means freedom from all financial concerns within reason (i.e. you can stay any hotel in london, but not say, charter a custom 777 to bring a bugati veryon there for the summer).

To attain that kind of "generational" level wealth, you probably need at least $15M if not double that.

Inevitably these threads turn into debates about things like "how can you say private school and living in NW DC isn't rich?!?!" - sadly, and I think this is a reflection of the world we've made. Its messed up that things like "saving for college" or "owning your home" and "funding retirement" are now considered "rich" by many; these are simple things that really should be attainable by the middle class. A quality education for your children. A reasonable belief that your retirement will be funded.

Sadly, in this day in age, ensuring those things is increasingly in the purview of the 1%.

And DC is fucked up for perspective anyway. Ive never made as much money as I do here and yet been made to feel so poor. It says something when "$300K" is "a pretty good salary if you are in your 30s" to many, but not exceptional at all.

[Anonymous]

Somewhere between $25M and $40M net worth. And only because I think it relevant to the thread, we have a net worth of around $8M