What's considered rich?

Discussion in 'Et Cetera, Et Cetera' started by DevonTexas, Jan 4, 2012.

  1. DevonTexas

    DevonTexas Well-Known Member

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    So, they took a poll and asked people. Poll says I'm rich. I don't feel rich. :-/
    Any guesses on what level of income or estate size is considered rich?
     
  2. Renroc

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    it all depends on whom you ask. To some people 100k a year would be reach. To a person who makes 100k a year..they would not consider themselves rich
     
  3. DevonTexas

    DevonTexas Well-Known Member

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    Right. Expectations, expenses, lifestyle... Much can go into that perspective
     
  4. vibrationzzz

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    Rich is living your life at the level you choose with no financial restrictions.
     
  5. DevonTexas

    DevonTexas Well-Known Member

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    Ah. Then, I'm poor
     
  6. vibrationzzz

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    Join the club :)
     
  7. pablo229

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    My dad lives in southern Tennessee, where you can buy a 3-bed, 2-bath, 2-car-garage house for $40-80K. A person making $100K/yr living there could feel rich.

    But if you live in San Fran, or NY, you will likely pay $40-80K/yr on rent alone, and perhaps even more if you have a moartgage. And the square footage would be attrotious.

    Rich has to do with accumulated wealth, not necessarily salary. A person making no income could be worth millions. A person making $250K/yr or more could be broke.

    There's a great book on wealth called "The Millionaire Next Door". It's about a ten-year study on wealthy people. Most millionaires are very normal, and you can't tell they're rich when you see them in public. Read this book, and you'll realize that politics and the media have totally twisted what our view of "rich" really is.
     
  8. breeze

    breeze Member

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    There are rich and then they are the super rich like the hedge fund manager who made 1.4 billion dollars one year. The media is focusing on the super rich at times.
    The " millionaire next door " makes the point that the path to wealth in the united states is small business ownership. I believe that 90% or more of the millionaires in this country are small business owners. I guess rich is a net worth of 1 million but a net worth of 250,000 isn't bad. Obama used 93,000 as an income point but 90%+ of salaries are below that. Its been known for a long time that 10-20% of the population ownes most the wealth in this country and it might be getting worse. 1/2 of us are either low income or broke. An occupy wall street movement was probably only a matter of time but how much they can accomplish is questionable.
     
  9. petite

    petite New Member

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    Are you going to give a link to the poll? I'm curious what people consider "rich" today. I read an editorial not too long ago that made a convincing argument that middle class people feel poorer today than they used to because of on TV shows "middle class" families are usually shown living in homes that they could not possibly afford and have lifestyles outside a middle class budget, which subconsciously raises people's expectation level regarding their own lifestyles.
     
    #9 petite, Jan 5, 2012
    Last edited: Jan 5, 2012
  10. B_Hickboy

    B_Hickboy New Member

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    There is no middle class in this country. You're either rich or you're poor. The middle class is a construct invented by the rich to stop the rest of us from wanting to compete and keep their labor pool docile. If you have to work for a living, you are poor.

    Have you heard the saying, "It takes money to make money"? If you have enough money to earn all your income off of it, you're rich. If not, guess what...

    Go to work, where your employer will at maximum pay you a third of what he makes off of you, which is about ten percent less than it would take to replace you.
     
  11. gurnder

    gurnder Member

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    If you're at the point where you don't have to worry about money, you're rich.

    (Within reason obviously, you can't buy a new Ferrari every day :tongue:)
     
  12. helgaleena

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    #12 helgaleena, Jan 5, 2012
    Last edited: Jan 5, 2012
  13. ghb69

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    I always say I am working on my second million, because I gave up on the first one.
     
  14. OhWiseOne

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    Ole human nature kicks in. Think back when you first started working and you thought, dang I'm making good money but I want more. As your income increased your lifestyle changed with it. The goal of being rich kept moving. Maybe the real question is what makes you rich? It isn't money folks.

    This comment does not include the money rich people whatever that amount is.

    (Disclaimer) This is an overview and does not pertain to all who shall read it.
     
  15. dude_007

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    Rich is when you live off the interest of your savings, assets and investments.

    I disagree that there is no middle class in the country, though. There are plenty of people who are neither rich, nor are they poor. They are middle class.
     
  16. B_Hickboy

    B_Hickboy New Member

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    Are you rich?
     
  17. petite

    petite New Member

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    The most common definition by sociologists of people who are middle class are those who have "white collar" jobs, not by how much they earn. Many "blue collar" workers earn a lot more money than "white collar" workers.

    Not that all sociologists agree with each other.
     
    #17 petite, Jan 5, 2012
    Last edited: Jan 5, 2012
  18. AlextheRedhead

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    Here in Los Angeles there is always someone richer than you are
     
  19. DevonTexas

    DevonTexas Well-Known Member

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    yes. sorry, I was on my iPad (which probably makes me rich) when I was reading about this. There are many news links discussing it, but here's one..

    Poll: Americans Feel “Rich” With an Income of $150,000 a Year
     
  20. DevonTexas

    DevonTexas Well-Known Member

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