What Is "rich?" How Much Money Makes One "Rich?"

Discussion in 'Economy' started by MikeK, Aug 8, 2011.

  1. MikeK
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    MikeK Gold Member

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    The word "rich" is used almost as frequently as are conjunctive words in our discussions here but I believe many of us have different ideas of just what the state of being "rich" is.


    How much money would you need to have in order to consider yourself wealthy?


    How much wealth do you feel is excessive?


    If you were wealthy what are some of the things you would do with your money?
     
    Last edited: Aug 8, 2011
  2. MikeK
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    MikeK Gold Member

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    Twenty-six have read this inquiry but not one response.

    Interesting.
     
  3. RetiredGySgt
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    RetiredGySgt Platinum Member

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    According to Obama and the Democrats anyone that makes 250k or more is rich.
     
  4. MikeK
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    MikeK Gold Member

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    I'm a Democrat and I believe a $250k annual income makes one tentatively secure and comfortable but not rich. I added the word tentatively because an annual income is not guaranteed. It can end. And if it does one can quickly become un-comfortable.

    I believe rich is possessing sufficient assets to ensure a secure, comfortable future without having to do or depend on anything. And by comfortable I mean a nice home and all the conveniences, such as a luxury car, etc.

    A $250k income will not provide that unless it is backed up by a substantial assets reserve.
     
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  5. Quantum Windbag
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    Quantum Windbag Gold Member

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    Potentially comfortably well off at some point in the future, if the government does not decide that it needs that money to pay for a billet train that no one will ride.
     
  6. imbalance
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    imbalance Silver Member

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    I consider rich to be synonymous with elite. From that perspective, it becomes more about relativity rather than income tiers. If your net worth is in the top 10% of Americans, you're elite/rich.
     
  7. eagleseven
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    eagleseven Quod Erat Demonstrandum

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    Rich is anyone who makes more than the speaker could make after a promotion or two.

    Ironically, those who most viciously protest the rich do so from jealousy and greed.
     
  8. RetiredGySgt
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    RetiredGySgt Platinum Member

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    Yet the Democratic party, YOUR party, has set the number at 250k. They intend to over tax anyone making more then 250k. THEY have decided, at the bidding of Obama, that 250k is the magic number.
     
  9. expat_panama
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    expat_panama Silver Member

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    There may be other reasons.

    Even while the likes of Obama and Rev. Wright rant about 'fat cats' and 'rich white people' they themselves hold immense material wealth and live in elite neighborhoods of extravagant homes. My guess is that this rich-bashing is a facade that hides a power grab wrought from pompous self aggrandizement.
     
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  10. syrenn
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    syrenn BANNED

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    4 million in the bank... that would be enough to live off of the interest.
     

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