Define "Rich"
 

what is being "rich" in your opinion ?

having $xxx in assets ? ( what amount ? )

making $xxx per month? ( how much?)

or a combination of both ?

when would / did you call yourself rich ?

Being rich is having enough money to fund your lifestyle. Whatever that may be.

well actual "upper class" makes over 250k per year

To me, being rich is being happy with life. Not money, not sex, but simply getting up every day and enjoying your life.

I'll let you know when I'm rich.
WG

just what i was thinking

Earning 100% and only spending 99%.

And knowing that by the end of the day you will be richer in money and experiences than when you woke up.

"Rich" is a contraction of Richard.

;)

... being rich hasn´t got anything to do with money. it´s about personality, health, friends, etc ...all the things money can´t buy, have a lot of those and you can consider yourself rich ...

actually, i've been thinking about this quite a bit lately - in the practical monetary sense, not the philosophical sense.

it's hard to say. certainly, for me (again assuming we are talking about monetary wealth only) the most important factor is net assets.

building net retained has been my number one priority for the past few years, in terms of running the business.

If you could quit working today, and live very comfortably for the rest of your life on your earnings, then I would consider you "rich"

define comfortable ? 1 house 1 car, what kind of car ?
having 1k spending money per week or $5k ..?

I'm rich.
Rich is when you are satisfied what you have done, and where you are going.

Who really NEEDS US$5,000 a week?

Fuck, all I need is an Indian takeaway and a sixpack every night. Plus a quarter of an ounce of weed a week of course.

Being "Rich" is having peace of mind. That is the bottom line. Money is just for keeping score and everyone has different views on what amount of chips will make them feel successful and happy.

I remember when I was 20 thinking as soon as I make $50K a year I'm set. That quickly faded. Then it went to as soon as I make $100K a year, then as soon as I make $250K. When I made over a $1 Mil a year I didn't feel any happier or richer, just had lots of extra cash. Its pretty hard to spend more than $30K a month when you are getting rich, because you don't have much time to spend it on things. So anything beyond that and you'll start banking away the bucks.

The only downside to getting rich is most of your friends you had when you weren't rich won't be able to keep up with your lifestyle, so it can get a bit lonely at the top as they say, til you make new friends that are also rich. Its also next to impossible to trust anyone when you have money. Money can make you very cocky and overly confident that everything you touch will always turn to gold, which is the furthest thing from the truth.

Many rich people are fucked up in one way or another. Great wealth tends to mess with your head and its very easy to get totally bored because the thrill is really in the climb to the top not being there.

Its harder to stay rich than to get rich. But you don't find that out till you make your first mil. Its ironically fun to lose your load and have to start over again. Most everyone I know who had that happen got rejunvenated about life again.

But again its all about having peace of mind, someone to love and be loved by, and good health. Had so many friends that made lots of money in the 80's get totally fucked up on coke and went into the gutter with their lives. Stay away from that shit, or at least if you want to do it, do it in a controlled manner. Take care of your body and keep it healthy always!

In terms of actual money, you're not rich in today's economy until you pass the $10Mil mark. You're not a player until you hit $50Mil. And you're not a whale til you hit $100Mil and you're own jet, mega yacht, estates all over, etc.

Agreed. Having 8 figures tends to make you paranoid about trusting people.

One I guy know is a tad rich he collects old F1 cars and there are a few stories about his wealth and spending One story is about a time he is running a bit late for a drinking weekend when some women t-bones him going throu a small town intersection about a hour before closeing on a friday , so unfazed he walk across the road to the car dealer who is about to close pulls out the gold CC and tells the guy to have this 70K car ready in a hour he will be in the Pub over the road.
I think thats rich enought.

I somehow agree.. but.. that would make the bum around the corner rich.. he has a certain lifestyle and is able to fund it..

And second: you adapt your lifestyle to the amount
of money you have. That's an automatic process.
When your doing $5k a month you do different things and
have different needs compared to making $50k a month.

Rich for me is having enough money in the bank to maintain
my current lifestyle for at least 50 years without working.

and since posting on GFY is *free* i'm getting pretty close.. :Graucho

right now i make $0 a year does that make me rich :D?

This is along the lines of my thinking - I used to make a decent amount of money, but it wasn't close to retirement money. I won't consider myself rich until I have enough banked for a modest lifestyle for the rest of my life without working again.

After that point, the amount I work relates directly to improvement of lifestyle, not mere survival, which seems like a much more manageable scale.

Blah - this is what poor people tell themselves so they feel better about themselves

Im not rich - i make a living, but i'm far from rich

I think this is almost correct.

I would say being rich is having enough money to fund your lifesytly, whatever that may be, and to still have money left over.

In other words, spend all you want, and your bank account is still growing :thumbsup

Wealth is family and friends!!!

Rich: money is a tool to me. So having enough monet/tools to do every task for the rest of my life. That would be enough money to go anywhere or do anything I wanted to without having to tally up the cost!:thumbsup

If I had to choose 1 orr the other I would choose wealth.

I choose to be wealthy and rich.

Two kids, a dog, and a cigarette. Non-menthol.

Oh, and a big stiff one every night. (No, I don't mean a drink).

so how much money is that?

Financial wealth is when you have enough assets to live off the interest and not worry about money. If you're putting in time to pay bills--you ain't rich. If you get up in the morning and say "I actually don't NEED to do another fucking thing ever to make money"--you are rich. Now you have to work on "Happy" which is a whole 'nother ball-o-wax.

Rich = When you stop working, your wealth continues to increase.

good defination in today's standards of material wealth.

Being able to fund my smack/coke habit every day, and STILL have enough for hookers.

according to every democrat i've seen babbling their line of bullshit on tv the past month...

anyone that makes minimum wage or above must be 'rich'.

because they've been hammering home the 'fact' that bush's tax rebate thing went only to the rich... well.. my minimum wage making younger brother got his $300... and me.. making roughly 20 times what he does... got the same $300 refund..

rich is when u have too much money

I would think that any of the following would make somebody "rich"..

1) every time you walk into the bank the manager says.. "hello mr. abc.. please dont wait in line, what can i do for you today?"

2) not having to lease or get on payment plans for cars and houses.. i see more people posting photos of the cars that they are leasing for 1000 bucks a month as though that labels them as wealthy.. to me that just indicates poor money management cause you acquire no capital and pay other people interest.... i drive a chevy tahoe. love it.. own it outright.. paid cash for it.. and nobody can take it away from me.


3) being satisifed would label you as rich in spirit.. but in all likelihood means that you're poor in the pocketbook.. succesful and wealthy (moneywise) people almost never feel satisfied. hunger keeps then working harder.

4) i imagine that being able to blow yourself would be nice too.. of course then i might just stop working. :Buck:

couldnt agree more

I remember the codby show answered this question as "rich is when your money works for you - as long as you're working for your money you're not rich."

Me too.

wanna fuck?

Define "very comfortably"?

Actually thats not always the case. I know very very wealthy people who hire their Ferrari's and Beamers purely because in two years time they will want the new model, and don't have to worry about buying and selling.

Didn't you win an EraserCash car?