How much money is rich?

freedom96

I was just reading a posting blasting President Bush for being rich, and therefore not looking out for the average American. That is another issue, not for this thread.

My question is this: What do you consider rich? How much money? $50,000 a year? $100,000 a year? Maybe $500,000 or more? What actually consitutes a rich person in your mind?

I found as I rose in income levels, that what I once considered rich, is really not a whole lot once you get there. Personally, I have friends that make $20,000 a year, and others who make multiple millions a year, and I judge them the same. My point is that I am not judging a person if they are good or bad depending on how much money they make. I look at their charactor. I personally think those with a net worth of several million I could count as rich. Wealthy, even more net worth.

But those in the $80,000 to $150,000 I just don't really consider rich. That is just me. What do you think?

Crazy151drinker

150,000 a year??? Upper Middle Class.

500,000+ a year Lower upper Class

Swan

Rich is a state of mind and has nothing to do with money. Some of the richest people I know have very little money.

Tammy

truthseekers2

$100,000 a year is far from rich today. You get by mediocrely with a family of 6 on that. Sick, isn't it? I think I agree with crazy on his figures. Anyone know where the stats for middle class, etc. are?

Now, if you are asking me what *I* consider rich... I am sure there are people that lead some of the most richest lives on $20,000/year and some that lead the most empty lives on a million a year! Riches aren't about money in my opinion. (But I'd take $500,000/year in a heartbeat! )

hannibal

freedom,

I think wealth is very subjective. Its not how much you make, it how much you keep.Making $50,000 or $150,000 or $1.5 mill. means nothing if you spend $60,000 on a $50,000 income, etc...,which seems to be the american way today.My view of being rich is not worry about it, no matter what income level you my be at.

happyout

Hi, Freedom96,

I think you raised two issues here. "What actually consitutes a rich person in your mind?"and then "My point is that I am not judging a person if they are good or bad depending on how much money they make. "

To be rich in monetary value in America, IMHO, takes at least $1,000,000 in cold cash. I think of rich as not having to worry about making more income. That is entirely personal, however, as I have spoken to lots of people that said if they had a million in the bank they would still have to work. I don't even want to know what kind of debt those people are in! I am also in the position where I used to think if I could just make the amount of money that I now make, I would be doing great. Well, since my husband has been laid off work twice, and now is in a commission only job that sometimes pays NOTHING, I no longer think that. I am striving to stay in the lower middle class region.

As for judging people by how much money they make, hopefully few people do that anymore. I guess if you watch Joe Millionaire you'll see how at least one person reacts when finding out someone they thought was rich is actually poor (roflmao). I have friends who make more and who make less than I do, they are my friends based on their personality, not their bank accounts. That doesn't mean I don't accept handouts, though!!

sunshineToo

It depends on how much expenses you have. If you earn $10,000 year and have expenses $1,000, then you are rich because you got $9,000 extra. But unfortunately $1,000 hardly pays a monthly rent of one bed room apartment.

RandomTask

When it does come into play is when your government says, "you are rich, because we have arbitrarily chosen x amount as being rich and therefore we are going to take more money from you then we are your neighbor ho makes under x amount."

What fives my government or any other human being for that matter the right to decide how much money it is OK for me to make?

sleepy

Depends where you live too.

In Britian there is a large difference in house prices according to the area.Where I live in Newport wales a 3 bedroom terrace houses costs around 70,000 about twenty miles away in Bristol England you would pay 170,000 , on the outskirts of London this would be around 250,000 Central London and you,re talking 500,000+ .

So to have a good quality of life were I live costs far less than in london, of cource there are less things to see and do here, so you have to choose ease of life over a more exciting but probably stressful life.

Were did all my pound signs go?Edited by - sleepy on 23 January 2003 14:10:40

Edited by - sleepy on 23 January 2003 14:11:31

Ed

I heard somewhere that in some countries a person who owns a bicycle or a radio is considered extremely wealthy. I've lost count of the number of bicycles & radios I've owned - I always remember that whenever I'm feeling hard done by.

How much money is rich?

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