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  1. #1
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    How much $ (net worth) is considered rich?

    Watched a show over the weekend about the uber-rich in the United States ($50 million + net worth).

    This got me thinking, what do most people consider "rich" to be??? I would think around the $5 million net worth would do it for me.

    As an aside, the show was filmed in 2007-08, I wonder how many of those featured took a bath during the recession.



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    Re: How much $ (net worth) is considered rich?

    I think it is a sliding scale, I know a few that have net-worths more than a couple million, and they don't consider themselves rich, and by the way they live you wouldn't think they were "rich."

    All I really know is I don't qualify...



  3. #3
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    Re: How much $ (net worth) is considered rich?

    When I can comfortable quit work. For me that probably between 500k to 1mil. Rich is more of a state of mind than a financial position. In my opinion so is poor.



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    Re: How much $ (net worth) is considered rich?

    Depends on where you live and work.

    Rich in Des Moines could be considered middle-class or at least upper middle-class in places like L.A. or New York City.



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    Re: How much $ (net worth) is considered rich?

    $2,579,333.67

    Next question :P



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    Re: How much $ (net worth) is considered rich?

    If I have $100 in my bank account, I feel rich.




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    Re: How much $ (net worth) is considered rich?

    Quote Originally Posted by ameshammer View Post
    Watched a show over the weekend about the uber-rich in the United States ($50 million + net worth).

    This got me thinking, what do most people consider "rich" to be??? I would think around the $5 million net worth would do it for me.

    As an aside, the show was filmed in 2007-08, I wonder how many of those featured took a bath during the recession.
    rich = ability to support yourself purely on your investments returns and interest.


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  8. #8
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    Re: How much $ (net worth) is considered rich?

    Free time to enjoy the company of family and friends. Good health. Indoor plumbing & climate control, potable water and not having to gut animals to eat.

    I feel very blessed.



  9. #9
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    Re: How much $ (net worth) is considered rich?

    $5 million. Although you'd have to add 3 or 4 more zeroes to convince me to quit working.


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  10. #10
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    Re: How much $ (net worth) is considered rich?

    5 mil at 5% is 250k per year interest income, halve that for taxes/market risk/inflation risk, 125k per year free and clear without touching prinicple... yeah, I could do that.

    5 mil is settled as "rich" in Iowa.



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    Re: How much $ (net worth) is considered rich?

    John McCain said $5M. I agree.


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    Re: How much $ (net worth) is considered rich?

    Quote Originally Posted by ameshammer View Post
    Watched a show over the weekend about the uber-rich in the United States ($50 million + net worth).

    This got me thinking, what do most people consider "rich" to be??? I would think around the $5 million net worth would do it for me.

    As an aside, the show was filmed in 2007-08, I wonder how many of those featured took a bath during the recession.
    Quote Originally Posted by CySmitty View Post
    When I can comfortable quit work. For me that probably between 500k to 1mil. Rich is more of a state of mind than a financial position. In my opinion so is poor.
    Smitty, $500k to $million can be gone in twenty seconds. You are a lot braver than I if you were to walk away at that level.


    Honestly, $50 million is nice, but not all that "rich". I think of rich as the guys who have a G550 or two at their disposal. Guys who can have a crib like this - Mobile | Telluride Vacations and only use it a few weeks of the year. Burning $10K of fuel an hour to drop by your $20 million house, that is rich.



  13. #13
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    Re: How much $ (net worth) is considered rich?

    if you have to ask, your not.


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  14. #14
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    Re: How much $ (net worth) is considered rich?

    I would say $3 million is rich. Just because I'm not used to anything close to that. $5 million is probably a good answer though.



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    Re: How much $ (net worth) is considered rich?

    Quote Originally Posted by cyeah View Post
    Smitty, $500k to $million can be gone in twenty seconds. You are a lot braver than I if you were to walk away at that level.


    Honestly, $50 million is nice, but not all that "rich". I think of rich as the guys who have a G550 or two at their disposal. Guys who can have a crib like this - Mobile | Telluride Vacations and only use it a few weeks of the year. Burning $10K of fuel an hour to drop by your $20 million house, that is rich.


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