Reply to In your opinion how rich is really rich?1 M net worth 5 , 10??????

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Rich, to me, is about never having to concern oneself with expenses, nor retirement, nor college, nor any day to day expenses, nor even having to worry about your children's retirement or that your grandkids. Truly rich means that there are no, or few, tradeoffs to make: the house you want in the area you want, with the school you want, eating what you want, when you want, how you want, traveling when you want, where you want, at whatever hotel you want, without so much as a concern or thought of any kind as to whether you can afford it. Truly rich means freedom from all financial concerns within reason (i.e. you can stay any hotel in london, [b]but not say, charter a custom 777 to bring a bugati veryon [/b]there for the summer).

To attain that kind of "generational" level wealth, you probably need at least $15M if not double that.

Inevitably these threads turn into debates about things like "how can you say private school and living in NW DC isn't rich?!?!" - sadly, and I think this is a reflection of the world we've made. Its messed up that things like "saving for college" or "owning your home" and "funding retirement" are now considered "rich" by many; these are simple things that really should be attainable by the middle class. A quality education for your children. A reasonable belief that your retirement will be funded.

Sadly, in this day in age, ensuring those things is increasingly in the purview of the 1%.

And DC is fucked up for perspective anyway. Ive never made as much money as I do here and yet been made to feel so poor. It says something when "$300K" is "a pretty good salary if you are in your 30s" to many, but not exceptional at all.

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I agree. My net worth is approx 6 mil (mostly inheritance) at 35. College and retirement funded. Still not in the 'no worries at all' category.[/quote]

And why is that outside reason while all the other stuff (say $1000 steaks etc) is within reason?[/quote]

Well, one costs $1,000 and the other costs $1,000,000. And anyway you have to draw the line somewhere.... otherwise is buying all the castles in Europe" in reason? Redecutio ad absurdum
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Yes, you have to draw the line somewhere. And you drew it at a totally ridiculous place.[/quote]

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