I'm 21:26. Yes, our income is higher than average. But many people with our income have nothing or very little. They spent what they earned or even more. We spent well below this. We are savers. On top of this we had some real estate transactions go our way. Then we inherited a bit of money. The stock market has been hot 2010-2013. So, many things helped us out.

My point is that with a bit of luck, you can earn under 300K and have the OP's 2.5M at a young age.

OP, I'm with you.

Each one of these threads always ends up with people angry and arguing over whether someone is rich or not.

Someone once said to me that being rich isn't about what stuff you have, its about what you dont have. You dont have a job you have to go to. You dont have bills to worry about. You dont have a concern that your retirement is underfunded or that your kids might have to take loans for college. You don't have debt for any reason other than tax purposes.

I think that was probably the best definition of rich I could imagine: being rich means never worrying about money again.

By that definition, no, I'm sure you aren't rich. You will have to continue to work for another 20 years before you can begin to contemplate retirement. I'm 34, net worth of $1.3M, so I'm right there with you (or more accurately, less than half the way to your spot).

I think people grossly overestimate the lifestyle that this kind of money affords - this isn't business class trips to Europe, or carerra marble bathrooms. Its hyundai's and 401ks, summer camps and target. Its making hard decisions about private schools vs public schools, decisions about being a single income family vs two, etc.

And thats why I say we are well-off.... because we are.... but we aren't rich, and imho, neither are you.

Anonymous wrote:That's not what she said. You get rich by making a lot of money AND spending like you make much less. If you actually made much less, you might spend most of it and have little left over.

She didn't mention income at all, just spending below what one earns. The point remains, making a lot of money is where everything starts. It doesn't guarantee wealth accumulation, of course, but it's a necessary condition. I am tired of high earners pretending to have become wealthy by making their own coffee and canceling cable.

That's not what she said. You get rich by making a lot of money AND spending like you make much less. If you actually made much less, you might spend most of it and have little left over.

Anonymous wrote:I am EXACTLY like OP. Similar wealth, similar age. I've posted a couple things here. Most of my replies are more along the lines of "Bye bitch". Not sure why all your replies have been so honest.

I feel rich. But I know what you mean by living "middle class". To get to be rich, you and I have been living "middle class". Spending BELOW our earnings.

But I feel rich, because I know that I can happily live without working. But I'll plug away, at least a few more years, to make the family happier.

Please stop the BS. To get to be rich, you need to earn a lot. There is no way you can save your way to wealth on a median salary.

You're rich, but not set for life. You still have to work to afford your house, college for kids if not private school, retirement, and not rich enough to burn through money. But you'll be able to do things like retire young or help your kids buy houses, if that's what you want to do. That's rich.

I am EXACTLY like OP. Similar wealth, similar age. I've posted a couple things here. Most of my replies are more along the lines of "Bye bitch". Not sure why all your replies have been so honest.

I feel rich. But I know what you mean by living "middle class". To get to be rich, you and I have been living "middle class". Spending BELOW our earnings.

But I feel rich, because I know that I can happily live without working. But I'll plug away, at least a few more years, to make the family happier.

Anonymous wrote:

Anonymous wrote:

(I never knew, before DCUM, that rich people insisting they're not rich was a thing. And apparently a very common thing, judging from how often it comes up on DCUM.)

::slow clap::

Amen.

I also don't like to be perceived as rich - it makes me very uncomfortable. I know, it's irrational.

Yes, it is.

You are rich. Own it. You don't have to tell anyone, but stop lying to yourselves.

Anonymous wrote:Yes, you are rice because you have financial independence. If you choose to you can afford to retire early or buy a mansion etc. Those are options most people never have.

Buy a mansion?? You could buy a $2.5 million house, which in this area is a nice house but by no means a mansion. And then you'd have nothing left and wouldn't be able to afford to maintain the house.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP here. I promise I'm not trying to be offensive. It's just that around here, and it seems especially on DCUM, there's a tremendous amount of wealth. I'm not saying I'm not, but with 3 small kids, we're planing to keep on working for the next 20 years, at least. We still have expenses to cover that investment income doesn't cover. The point is, it seems like wealth is everywhere here.

It is not rich. Rich would mean that, in addition to being able to stop working and live off of your investments, you could also send those 3 small kids to whatever school you would chose through college (and maybe even grad school). Well, you would spend down most of your money just to put 3 small kids through private school. Assume $30k+ per child for even 10 years. That's almost 1mm right there and you haven't even paid for college yet. Sad as it sounds, you are comfortable, not rich.

OP here again. Your response summarizes my point. Even though we're not planning on private schools for our kids, we definitely watch our spending carefully. On paper, we may seem "rich" to many people, but in reality, we're living a middle class lifestyle. I appreciate everyone's perspectives.

I am wondering what kind of lifestyle we must be living, then, having many times less money?

Exactly.

My net worth is about 1/10 yours, OP, and we don't own a home. This is the "reality" of the middle class.

I think it's hilarious that folks on DCUM seem to think that if they aren't living in Downton Abbey, they must be "middle class"!

Hey OP,

Plug your income (or wealth if you want to go that way) into this calculator and let us know where you fall:

http://www.globalrichlist.com/

Anonymous wrote:OP, why do you want to know?
Do you not have any other worries?

OP here. I do have other worries, but as a result if bring raised by very frugal, money conscious parents, I still worry able being "ok" in a worst case scenario situation. I also don't like to be perceived as rich- it makes me very uncomfortable. I know, it's irrational. The older we get, the more DH and I are morphing into my parents!

Also, thank you all for being kind in your responses.

Sorry, I don't think it's particularly "rich". Certainly comfortable. For one, at your age you can't be living off the income as you need to be reinvesting it if you expect to retire on that money. And if you send those 3 kids to private colleges that's $750k in today's dollars. So that makes a big dent in your balance.

Yes, you are rice because you have financial independence. If you choose to you can afford to retire early or buy a mansion etc. Those are options most people never have.