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

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I think this thread clearly shows that most people think $2.5 million is rich and set for life.

Most people could happily live the rest of their lives with this. Especially if they are willing to move. Working is optional, not required.

Some people say this is not enough. Those people probably want expensive homes, private school, luxury vacations, etc. etc.
[b]
So the final answer is that this is rich for most people, but not all.[/b][/quote]

See that's really the rub. Most of the people who think this is rich don't actually have that kind of money.[b] If they did, they would either run through it and be poor again [/b](see below link re lottery winners), or, if they are smart, they would come to the realization that $2.5M is not really rich.

http://usnews.nbcnews.com/_news/2013/05/17/18323470-what-could-happen-to-you-tales-of-big-lottery-winners
[/quote]

Even if true - so what? That wouldnt mean they were not rich in the first place.

The bottom line is, a person with a lot of money (ie rich) can choose to 1) keep working, live frugally 2) spend money on extravagant luxuries 3) retire 4) give money away to family, friends, charity.. 5) invest hoping to make even more... Etc etc. Some of these choices would lead the person making them to become richer, some poorer (or even flat poor), quickly or slowly.... But all these people are, regardless od they decide to do, at this point, rich.[/quote]

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