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What do you consider "Rich"?

How much money does a person have to have for you to consider them rich? I think it's funny how it varies person to person. I personally think anyone considered a millionaire to be rich for sure, but many people don't consider that rich because i mean it would be so easy to spend a million dollars on just a few things...dream house, dream car, a big vacation and it's pretty much gone lol. But I'm the kind that thinks ok they're millionaires, they should have investments, savings, ways to make that money keep growing and growing. What, in your opinion, is RICH?

 
AprilDJC

Asked by AprilDJC at 4:05 PM on Jun. 9, 2010 in Just for Fun

Level 20 (8,524 Credits)
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Answers (45)
  • Being able to get anything you want,go anywhere you want,and have plenty of money to spare with no debt.
    butterflyblue19

    Answer by butterflyblue19 at 4:11 PM on Jun. 9, 2010

  • Personally, if you're not living paycheck to paycheck, you have a little savings, and Something (home, car, something) is paid off, I'll consider you rich.
    Kiwismommy19

    Answer by Kiwismommy19 at 4:07 PM on Jun. 9, 2010

  • 100K income per year or more. Since DH lost his job18m ago, we've been raising 4 kids on roughy 15K per year. 100K seems like an insane amount of money.
    nytefae

    Answer by nytefae at 4:13 PM on Jun. 9, 2010

  • rich, for me, would be having all paid bills with ample money left over to eat out when we wanted, or to get new clothes whenever we felt like it. not having to think, 'can we afford this?' that is what it means to be rich, money rich anyways.
    iamcafemom83

    Answer by iamcafemom83 at 4:13 PM on Jun. 9, 2010

  • It is all relative. DH and I make over $100k with 1 kid and a cheap mortgage and we still don't feel rich! I think it's b/c we know people who make in the hundreds of thousands each year, like my BIL and some of our friends. My in-laws probably rake in about half a million every year! But then I always think that there are people out there who make so much less. You can get carried away thinking about all the money you don't have, even when you have what seems like a lot to other people...
    Anonymous

    Answer by Anonymous at 4:21 PM on Jun. 9, 2010

  • 100K income per year or more. Since DH lost his job18m ago, we've been raising 4 kids on roughy 15K per year. 100K seems like an insane amount of money.

    That depends on where you live and how high your expenses are. My husband makes around $200,000 a year before expenses. I don't consider it rich. We live comfortably and have enough to save and get ahead to hopefully become rich some day. I think rich would be having more than half of your income not spoken for, with a decent savings and more than a few properties that are owned by you. Anything less than that is getting ahead, not being ahead.
    Anonymous

    Answer by Anonymous at 4:21 PM on Jun. 9, 2010

  • : butterflyblue19
    Being able to get anything you want,go anywhere you want,and have plenty of money to spare with no debt.

    This exactly.

    We make a pretty good amount of money but are no where near RICH
    mamakirs

    Answer by mamakirs at 4:21 PM on Jun. 9, 2010

  • It depends on your area of the country. If you're living in the rural south or Appalachia then $100K a year is going to make you one of the wealthiest people in the county. In my area $100K a year is enough to live on but the majority of people make more. A single family home is at least $300K, something with 4 bedrooms and a decent sized yard in reasonable condition can easily sell for twice that.

    I know a couple of people who are very well off but I wouldn't call them rich. They have nice houses, nice cars, and a generous household budget, but they can't just jet off at a moments notice or randomly buy another car for their fleet. Rich is well beyond $1M IMO.
    RhondaVeggie

    Answer by RhondaVeggie at 4:23 PM on Jun. 9, 2010

  • I agree with butterflyblue19! That is "Rich".
    ILovemyPaulie

    Answer by ILovemyPaulie at 4:24 PM on Jun. 9, 2010

  •  The millionaire question is interesting to me.A million in the bank or invested with dividends  brings in about 50,000.00 a year give or take.Not rich , a decent life with needs met and a few extras yes and that is a type of rich.In the way you mean it though no.We aren't rich but are comfortable ,no complaints here.We are 50 and my husband makes 250 thousand a year.In 89 after grad school he started at 37,500 an I made 29,000 so we were never poor .Rich hmm one of my best friends,roommates in college, is a partner in a national lawfirm 675,000.00 last year and anesthesiologist hubby made about 500,000.00 and they don't think of themselves as rich.We know exactly because she is running for a statewide political office.We normally don't know exact figures.Any way someone with a good stable job,house AND  cash or stock or xtra real estate = to a million = rich.We are worth a million+ but part is our paid off house .

    Anonymous

    Answer by Anonymous at 4:38 PM on Jun. 9, 2010

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