Reply to What HHI is indisputably RICH in a HCOL area?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]If you can’t live off your wealth, you aren’t rich.  Income shouldn’t matter.  [/quote]

Then, rich is relative because my investments generate a half million a year, but I spend only $150k/year. So, by your definition, I’m rich. However, my wealth wouldn’t support the lifestyle of the posters in this thread. So, am I rich or poor?[/quote]

+1
My investments generate ~1M and my W2 income is almost that.  My lifestyle is very UMC.  We live on ~200-300k.  I can't imagine wanting a lifestyle that requires $1M!  So strange to me.  I'd be so out of touch with humanity and the people I see as peers.  I'd feel isolated and unrelatable.  It's so bizarre to me that there exists people that crave this.  It makes me wonder about their value system.  We have 3 homes and 4 kids in private school/college and I feel comfortable in that crowd - country clubs, skiing, etc.  Really we don't need more than what we have.  Ok, if we had to save aggressively then add savings on top of the 200-300k.[/quote]

There is a point where regardless of your assets you won't spend more. We pretty much capped at 20k a month and that hasn't changed much in many years. Our brokerage can easily sustain that so in my books, I am rich. I don't need to work to live a very nice life. I retired at 50 while my kids were about to enter college.

We have no interest in vacation homes, super fancy cars, flashy clothes, etc. The more we accumulate the more we realize how stupid that stuff is.[/quote]

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