Rich doesn't concern itself with HHI.

An ex boyfriend of mine is wealthy enough that his (family) name is plastered all over the place on buildings, hospitals, etc. All over the world. That kind of money. Private jet money. Having an income will never be a concern for him (which does not mean he does not concern himself with it -- I remember him remarking on the relatively high cost of a particular DVD once). He is an attorney and works very hard and that was very much expected in his family (although practicing law was a little rogue, most of his more respected cousins are investment bankers in the family corp), but it has nothing to do with needing to earn a living.

There is a lot expected of him socially that he does not enjoy. It's hard.

If you have to get vacation time approved, you're not "rich."

If you get an annual review at work, you're not "rich."

If someone else dictates your schedule on a daily basis, you're not "rich."

Sure, you might have a top 3% income via a W2. But if you stop working and are no longer "rich".....were you ever actually "rich"? Nope.

Anonymous wrote:The other two recent posts about rich people got me thinking. What is rich? To me, the difference is do you have to work to maintain your wealth/status/lifestyle. We belong to the top 1% both in terms of NW and HHI, but all of this would evaporate if I lost my job. So I don’t feel rich. Wealthy? Yes. But rich? No.

I agree with this post. Being able to maintain lifestyle without having to work.

Anonymous wrote:My in laws. Generational NYC real estate family. Owning buildings in multiple cities AND collecting millions and millions a year in rent. I grew up in a fairly wealthy suburb and had no idea this kind of money existed.

This describes my SIL’s family, as well, but you would never, ever guess it by meeting her. Which is just to say, you often can’t tell.

Anonymous wrote:The other two recent posts about rich people got me thinking. What is rich? To me, the difference is do you have to work to maintain your wealth/status/lifestyle. We belong to the top 1% both in terms of NW and HHI, but all of this would evaporate if I lost my job. So I don’t feel rich. Wealthy? Yes. But rich? No.

That’s not a great definition. Plenty of FIRE folks are “rich” on $1M net worth then.

Rich is when you don’t need a salary to maintain your lifestyle.

Anonymous wrote:

Anonymous wrote:My friend’s parents have a $60m house in Florida. You’d know their name. They are rich.

Mar a lago was not valued that high, after all.

TDS? There's medicine for that, please leave your political mental illness out of the non politics forum. I hate people like you. You are so f g exhausting.

The answer is……who cares?

Anonymous wrote:My friend’s parents have a $60m house in Florida. You’d know their name. They are rich.

Mar a lago was not valued that high, after all.

My friend’s parents have a $60m house in Florida. You’d know their name. They are rich.

I like to tell my kids "you can always be out-snobbed!" Most of it is who you compare yourself to. I'm rich for my family, and for my neighborhood and I qualify as top 1% but I don't feel like I have money to burn. There are people with the same bank account as me who feel and spend like they're rich. It's a pretty subjective determination, and I predict there will be posters trying to outdo each other with setting the bar higher than the last one, and others judging you for even asking the question. We're all poor compared to Jeff Bezos.

Too many people will bring their anecdotal "she has a dollar more than I do so she's rich" feelings rather than rationality to the answers.

Best place is to look at Hollywood and what the films show us as they reflect what the common consensus is for rich. It's pretty clear what it is. People living in 10k+ sqft mansions and driving Lamborghinis and being able to drop everything and fly off to Paris on a private jet at a moment's notice to attend a birthday party.

Yes, that's Hollywood but you can see what it translates into in real life. There's a clear dividing line between affluent upper middle class and genuinely rich.

My in laws. Generational NYC real estate family. Owning buildings in multiple cities AND collecting millions and millions a year in rent. I grew up in a fairly wealthy suburb and had no idea this kind of money existed.

When you can order two desserts at the same time (plus drinks!), and not have to worry.

The other two recent posts about rich people got me thinking. What is rich? To me, the difference is do you have to work to maintain your wealth/status/lifestyle. We belong to the top 1% both in terms of NW and HHI, but all of this would evaporate if I lost my job. So I don’t feel rich. Wealthy? Yes. But rich? No.