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Reply to "Are you considering youself rich?"

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[quote=Anonymous][quote=Anonymous]First of all, I do not consider high income to equal riches. It's convenient for people who want to tax high incomes to equate it with being 'rich' but if your paycheck goes away, you ain't rich. This has happened to family members of mine when health issues cut short high earning careers.

Only assets can indicate wealth.

That being said, we are now worth about $1.2M and our goal is middle class financial independence. In other words, living below our means with assets to generate a middle class income. Ideally I'd like to continue to reinvest some of that income, not spend all of it.[/quote]

These are called HENRYs

High Earning Not Rich Yet

And describes a ton of people in DC, who grew up working or middle class and came here and now make low 6 figures and married someone else who makes low 6 figures. Together you seem rich, but doing similar work anywhere else in the country (at local pay rates), and living the same lifestyle anywhere else in the country, would be solidly middle class. [/quote]

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