Reply to Do you consider a net worth of 2.5 million "rich?"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]OP here. I promise I'm not trying to be offensive. It's just that around here, and it seems especially on DCUM, there's a tremendous amount of wealth. I'm not saying I'm not, but with 3 small kids, we're planing to keep on working for the next 20 years, at least. We still have expenses to  cover that investment income doesn't cover. The point is, it seems like wealth is everywhere here.[/quote]

It is not rich.  Rich would mean that, in addition to being able to stop working and live off of your investments, you could also send those 3 small kids to whatever school you would chose through college (and maybe even grad school).  Well, you would spend down most of your money just to put 3 small kids through private school.  Assume $30k+ per child for even 10 years.  That's almost 1mm right there and you haven't even paid for college yet.  Sad as it sounds, you are comfortable, not rich.[/quote]

OP here again. Your response summarizes my point. Even though we're not planning on private schools for our kids, we definitely watch our spending carefully. On paper, we may seem "rich" to many people, [b]but in reality, we're living a middle class lifestyle.[/b] I appreciate everyone's perspectives.
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I am wondering what kind of lifestyle we must be living, then, having many times less money?[/quote]

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