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Reply to "What do you consider rich vs UMC?"
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[quote=Anonymous][quote=Anonymous]Wealthy = [b]when your kids will never really need to work.[/b] They still should, but it's not a necessity [/quote] This is incomplete. You should say: never need to work to live an opulent lifestyle. Rich isn’t only about not needing to work. It’s about not needing to work to live a lavish lifestyle. Plenty of retirees don’t need to work but live on a modest income. They aren’t rich. Same for the FIRE community. They don’t need to work but aren’t rich by any measure. [/quote]
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