Rich or Poor?

[spectrumc01]

What do you consider Rich and what do you consider Poor?

I consider any household making more than 100K a year to be rich.
I consider any household making less than 25K a year to be poor.
I consider any household making between 50K - 99K a year to be middle class.
I consider any household making between 26K - 49K to be the working poor.
I consider a household to be two parents and two children.


I see alot of references to rich and poor, and these terms seem too vague. I was wondering what everyone considers rich or poor to be.

 

[Ringel05]

You obviously don't live in my neighborhood.

 

[R.D.]

Depends on too many variables in my opinion to make any blanket statements

- how many in household, cost of living in area, education choices , duel income vs single income, additional expenses, modest vs keeping up with the Joneses etc...

 

[spectrumc01]

You obviously don't live in my neighborhood.

Perhaps not, I live in a small rural community, that is mostly a tourist spot for golfers. Where the distinction of those who have and those who have not is blatantly obvious, and far apart.

 

[waynefromaitkin]

a general question: I have to ask, as a democrat, why do you think that Oil subsities, off shore tax havens for corporations, tax cuts to millionairs and billionaire , be the holy grail in have no cuts in the budget talks. Heck, shut her dow, Democrats need some back bone.

 

[Mr. H.]

A decent wife and 4 happy healthy productive kids.
Money is overrated.

 

[tigerbob]

What do you consider Rich and what do you consider Poor?

I consider any household making more than 100K a year to be rich.
I consider any household making less than 25K a year to be poor.
I consider any household making between 50K - 99K a year to be middle class.
I consider any household making between 26K - 49K to be the working poor.
I consider a household to be two parents and two children.


I see alot of references to rich and poor, and these terms seem too vague. I was wondering what everyone considers rich or poor to be.

There are plenty of people who work and bring in less than $25k. And plenty who make over £100k that aren't rich.

If the terms rich and poor are vague, it's because everyone's circumstances are different.

Someone earning $49K a year can have more disposable income than someone earning $100k, but your categorization would have the latter pigeonholed as rich and the former as working poor.

 

[Iridescence]

A decent wife and 4 happy healthy productive kids.
Money is overrated.

This is our life exactly. It is one thing to be financially 'breaking even' and yet have everything that money cannot buy or provide and quite something else to be financially 'set up for life' and yet be empty. Granted, it is one extreme verses the other, however, all too often I have found it to be the case. It seems money can be one of the most effective distractions from relationships. It empowers, for sure, but sometimes that type of individual empowerment is out of balance and not productive for the overall status of the potential commitment of a union such as marriage.

 

[spectrumc01]

The terms rich and poor and the money equivilent has been brought to the surface in my life, as now my family is going through the financial turmoil of sending a child to college. This process is a nightmare. Nothing like having someone tell you, you make too much money or have too many assets to recieve assistance. A shame that a smart child with a bright future is denied a great education because they simply can't afford it.

 

[Si modo]

Rich is relative/subjective. Poor is, too. Those who are below the poverty level here, have a king's fortune in much of the rest of the world. But, the world is catching up to us. It's a Progressive thing, though. Progressives - the great equalizers to mediocrity.

 

[xsited1]

What do you consider Rich and what do you consider Poor?

I consider any household making more than 100K a year to be rich.
I consider any household making less than 25K a year to be poor.
I consider any household making between 50K - 99K a year to be middle class.
I consider any household making between 26K - 49K to be the working poor.
I consider a household to be two parents and two children.


I see alot of references to rich and poor, and these terms seem too vague. I was wondering what everyone considers rich or poor to be.

I consider a household with a net worth of at least $5 million to be rich.

 

[R.D.]

I consider a household with a net worth of at least $5 million to be rich.

I'm poor

 

[Ringel05]

The terms rich and poor and the money equivilent has been brought to the surface in my life, as now my family is going through the financial turmoil of sending a child to college. This process is a nightmare. Nothing like having someone tell you, you make too much money or have too many assets to recieve assistance. A shame that a smart child with a bright future is denied a great education because they simply can't afford it.

Been there for myself, (don't have any kids). I still found a way, the first part being the GI Bill. Hell, if I had taken them up on their offer the military would have put me through med school.

 

[xsited1]

I consider a household with a net worth of at least $5 million to be rich.

I'm poor

Maybe Obama will bail you out. Just contribute to his campaign and you should be set for life.

 

[tigerbob]

I consider a household with a net worth of at least $5 million to be rich.

I'm poor

I'm very poor.

 

[R.D.]

The terms rich and poor and the money equivilent has been brought to the surface in my life, as now my family is going through the financial turmoil of sending a child to college. This process is a nightmare. Nothing like having someone tell you, you make too much money or have too many assets to recieve assistance. A shame that a smart child with a bright future is denied a great education because they simply can't afford it.

Sent three, wasn't easy but planning ahead helped. Loans? They aren't assistance. County college for first two years?

My youngest relieved full paid tuition then all yanked except the earned scholarship for the reasons you listed.

 

[R.D.]

I consider a household with a net worth of at least $5 million to be rich.

I'm poor

Maybe Obama will bail you out. Just contribute to his campaign and you should be set for life.

HEY!

Poor not stupid

 

[editec]

People who do not have to work, or whose so called "work" is investing money they did not personally make? Those are the wealthy.

If you have to work to sustain your lifestyle, you aren't rich.

My point here is that there is no single hard and fast number to describe "the rich".


Poverty is also pretty simple.

If you work and still cannot pay your bills for the basics?

You're poor.

My guess is, using the above definition?

More than half the families in the USA are basically POOR.

 

[tigerbob]

My monthly financial commitments (family of 4)

Health insurance $900
Gas / electric $250
TV / Internet / Phone $350
Insurance (home / business / cars) $350
Gas $300
Food $450

Total $2600

That doesn't include the cost of water / sewage, garbage, or local taxes, which I would average at close to another $500 a month.

So, $3100 a month, or just over $37,000 annually, before I even think about things like saving for retirement, life insurance, college fund, vacations or evenings / days out, clothing or misc expenses (servicing the car, repairing the furnace, whatever). Add $1500 - $2000 a month for those. Let's say $20,000 a year.

I'm fortunate not to have any mortgage or car payments. If I did, those could easily take another $1000 - $1500 a month. Another $15,000 annually.

So, $72,000 is what I'd need (after tax) to allow me to live comfortably, given the circumstances I've mentioned. Pre-tax, that would require a household income of over $100k.

Which would make me "rich".

 

[R.D.]

People who do not have to work, or whose so called "work" is investing money they did not personally make? Those are the wealthy.

If you have to work to sustain your lifestyle, you aren't rich.

You are so wrong