Ok DCUrban Mums. What is Rich

[Anonymous]

Rich is relative, obviously. If you grew up UMC then your bar for what you consider “rich” is going to be much higher than if you grew up poor.

[Anonymous]

Anonymous wrote:I don't understand all these people who are like "you make 400k you are rich, stfu"

What do you think when you go to really upscale places like Nantucket or Aspen and see how truly rich people live? When we were in Bar Harbor over the summer, I was amazed by all the big yachts we saw in the harbor or anchored off shore. Plus all the huge vacation homes that people own. These people are the rich in this country!

Let me explain it to you. A person with an IQ of 135 is gifted, and a person with an IQ of 180 is gifted. One is obviously more gifted than the other, but both kid’s parents would absolutely try to get them in AAP. By the same token, someone only needs an income of $421,000 to be in the top 1% of earners in the US. (It’s north of $500,000 in Virginia.) When I think rich, I think the top 5%-10%. Earning $400,000 a yearly easily puts you in the top 5% of earners if you live in Virginia.

TL/DR: You’re not MC just because someone is richer.

[Anonymous]

Rich is when your liquid assets can support your lifestyle without having to work.

[Anonymous]

Anonymous wrote:Rich is when your liquid assets can support your lifestyle without having to work.

That is called retirement

[Anonymous]

10 million a year income and assets of 100 million or greater.

I say that as my friend made 4 million a year and had 50 million and did not consider himself rich. Not like he can charter plane to tropical islands for him and 200 people. Heck a real mansion alone can cost 50 million

[Anonymous]

Anonymous wrote:

Anonymous wrote:Over 200k is rich. I don't care if that means you can't afford 40k per year private school. You have choices, you are not struggling, none of your bills should be a struggle. So what you cannot afford vacations in Aspen and EU. That doesn't qualify you for middle class.

Any HHI can be on a budget.

There is no 300k middle class. I don't care where you live. You chose your home and your mortgage.

This used to be the definition of middle class. Now it's rich?

I know. Personally, I think with including me inequality the way it is, more people have fallen into poverty and yet still junk they are MC. No you are POOR if you can’t save at all.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I don't understand all these people who are like "you make 400k you are rich, stfu"

What do you think when you go to really upscale places like Nantucket or Aspen and see how truly rich people live? When we were in Bar Harbor over the summer, I was amazed by all the big yachts we saw in the harbor or anchored off shore. Plus all the huge vacation homes that people own. These people are the rich in this country!

Let me explain it to you. A person with an IQ of 135 is gifted, and a person with an IQ of 180 is gifted. One is obviously more gifted than the other, but both kid’s parents would absolutely try to get them in AAP. By the same token, someone only needs an income of $421,000 to be in the top 1% of earners in the US. (It’s north of $500,000 in Virginia.) When I think rich, I think the top 5%-10%. Earning $400,000 a yearly easily puts you in the top 5% of earners if you live in Virginia.

TL/DR: You’re not MC just because someone is richer.

No.

Wealth = net worth.

Stop yammering on about income. You sound like a clown.

[Anonymous]

My definition of rich was a girlfriends uncle who was filthy rich. He would buy things without asking price and were not even for sale.

He actually was watching live lifestyles of the rich and famous where a celeb had a mega yacht. Outrageous, during show called his money guy said want that yacht at my house next week and it was.

I met him one at his house had a 32 seat kitchen table and massive staff TV and den area in his kitchen and his cook and butler on call on game days. House so big he set up a huge den in his kitchen to be closer to food and beer!

[Anonymous]

We feel UMC at HHI of $2m. I know some people will group us as rich but we don’t feel or act rich. We live in a good public school pyramid.

Rich is not income but net worth. Most people we know who I consider rich are generational or they sold a company for millions. I consider most working professionals UMC like us whether you earn $300k or $2m.

[Anonymous]

We started feeling comfortably MMC at 100K HHI . I feel UMC at 350K HHI. Our cost structure is low.

I know it is peanuts compared to many of our friends, but in totality we feel that we have won the lottery of life.

Close knit family. Healthy - mentally and physically. High achieving (and good looking) kids.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Rich is when your liquid assets can support your lifestyle without having to work.

That is called retirement

No, that's called rich.

[Anonymous]

We're rich! We have good jobs, great kids, live in a nice home in an area with great schools, we are saving for retirement and college, we have a lot of friends and while I'm very careful with money I don't worry about it. Plus, my husband loves me!

[Anonymous]

We are poor, in a poor nation, in a poor planet.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Over 200k is rich. I don't care if that means you can't afford 40k per year private school. You have choices, you are not struggling, none of your bills should be a struggle. So what you cannot afford vacations in Aspen and EU. That doesn't qualify you for middle class.

Any HHI can be on a budget.

There is no 300k middle class. I don't care where you live. You chose your home and your mortgage.

This used to be the definition of middle class. Now it's rich?

I know. Personally, I think with including me inequality the way it is, more people have fallen into poverty and yet still junk they are MC. No you are POOR if you can’t save at all.

THIS. People on here are so concerned about the rich claiming to be MC. The real concern should be the poor claiming to be MC. Until people can admit they are poor, we will never see the structural changes society needs.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Over 200k is rich. I don't care if that means you can't afford 40k per year private school. You have choices, you are not struggling, none of your bills should be a struggle. So what you cannot afford vacations in Aspen and EU. That doesn't qualify you for middle class.

Any HHI can be on a budget.

There is no 300k middle class. I don't care where you live. You chose your home and your mortgage.

This used to be the definition of middle class. Now it's rich?

I know. Personally, I think with including me inequality the way it is, more people have fallen into poverty and yet still junk they are MC. No you are POOR if you can’t save at all.

THIS. People on here are so concerned about the rich claiming to be MC. The real concern should be the poor claiming to be MC. Until people can admit they are poor, we will never see the structural changes society needs.

Are you one of those people who thinks pathetic poor people “vote against their interests” by voting Republican but never bother to consider why the same can’t be said of rich liberals, because you still don’t get people vote their values not their personal interests?