Reply to At what net worth are you considered wealthy ?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]$10M for a household.  $3M for a forever single person with no kids.  [/quote]

Answers like this are so stupid.  According to Kiplinger's, a NW of $2.5M puts you in the top 2% of all households.  So by this PP's logic, a lot of the top 2% wealthiest households in the country aren't "wealthy."

[url]https://www.kiplinger.com/personal-finance/605075/are-you-rich#:~:text=People%20with%20the%20top%201,The%20top%2010%25%20had%20%24854%2C900.[/url][/quote]

2.5M provides 80 - 120k/yr if done right. That is hardly wealthy.

You need to figure out how much money do you need to create a stream of income that allows you to live freely and not worry about money.

In many instances, 300k - 500k would allow people to live fairly freely and not worry to much about money. Travel, treating the kids, etc. That requires about $10M liquid.

[/quote]

If your [b]definition of wealthy means having the money to generate enough passive income to not work at all in a VHCOL area, cover $80K per year for all of your kids to go to college, and allow your husband enough spending money to satisfy his mistresses and cocaine habit[/b], then you are right.[/quote]

DP.  That IS the definition of wealth!  If yours had been the first post, this thread would have been over long ago.[/quote]

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