Reply to Why a 300-400k salary doesn't feel rich

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[quote=Anonymous]Salaries are not supposed to make you feel rich, though of course the money increases well-being.

It is a mechanism to trade time for money so you can be rich with your NW.

If your passive( capital based or otherwise)  income streams exceed your [b]needs[/b] without depleting capital, you are rich aka financially independent.

What is tricky is that one person's wants are the next person's needs. So the former feels rich with their needs met, and the latter feels poor.

This thread shows there can be no absolute definition of rich since it is personal.

All we can do is rank people by NW and measure in percentiles. The top percentiles may still have unmet wants and hence feel poor. And the opposite can be true for the lower percentiles whose needs and some wants are met, and they are happy and feeling rich.

For every person who is happy with their split shack in Arlington, there is one who wants a $10m sumer house, a $50m gulfstream, a $100m island in the Bahamas, a $200m yacht to cruise the world, and so on along the number line marching towards infinity.
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