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Reply to "Are you considering youself rich?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous] Especially since net worth, not HHI, would make one "rich."[/quote] Well, we are in our 30s making about $370K. We haven't received a dollar of financial assistance from our family and therefore had no chance to accumulate $10M yet. But nevertheless I consider us rich. [/quote] But you're nowhere near rich! Lose a job, put three kids through Cathedral schools, buy a true four bedroom home in ccmd and see how far that gets ya. Rich is 10 million net worth minimum in these parts. You are what they call doing well. [/quote] Anyway, we are going to pay off the house by the time our kids start college. And we still have a lot of money left for savings and investments. We live in a 6 bedroom house in McLean and our kids are doing fine in the AAP of a public school. Also, we both have highly marketable professions and unless we become disabled, will be able to find new jobs in a matter of weeks.[/quote] That's all great, but you are not rich. I'm not saying you won't be rich some day, but right now, you are not. And PP is correct, on your income, you couldn't afford to put 3 kids though private school or live in a large home in a tony neighborhood or do many of the other things truly rich people do, unless you have other assets to subsidize your lifestyle. [/quote]
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