What do you consider to be rich?

[Brenjen]

The other long drawn out thread got me wondering, what amount of money would you have to accumulate to consider yourself RICH?

 My father & I have had this discussion several times. When we moved to Arkansas from California back in 1972 my dad was making $130 a week, he took a job in Arkansas for $75 a week. He reasoned that the difference in the local economy would make it possible.

 Back then you could live fairly well on $75 a week, not good mind you, but you could pay rent, household bills & a car payment & feed a family of four. Back then a million dollars seemed like what a billion dollars seems like today. I remember thinking to myself, "boy I wish I had a million dollars!"

 Today a million dollars, though still a lot of money, doesn't mean you're set for life. After a home & a couple cars & a few things to go said home & education expenses etc. you would still have to work if you were young.

 I have an uncle who is worth roughly $10 million, he doesn't consider himself "rich" he agrees he is comfortable, but in his mind he isn't rich because; he's getting old & his expenses will begin to mount if he is hospitalized & has to pay people to take care of maintenance on his rental properties etc. & then if he dies after a long illness he wonders how much after taxes & fees will be left for his children & grandchildren. He sees rich as having so much money that no matter what happens to you, the wealth you pass on will ensure your children will never have to work.



What do you consider to be "rich"?

[Sandman]

I'm not working so my children can have a free pass.

Work builds character.

[storch]

my grandfather passed away a year ago or so and his estate is worth roughly $5,000,000.00.  he was the most misearble man I've ever known.  my other grandfather passed away in 1977.  he didn't have two nickles to rub together yet he was the warmest and most giving person I've ever known.  

my broke grandfather was the richer of the two men by far.  

one time many years ago there was an impromptu family gathering at a restaurant, when it came time to pay for the meal there was a long silence as no one picked up the check, after a brief pause my broke grandfather picked it up and paid for the meal, around fifteen or so people.  my rich grandfather asked how much it was so he could contribute for half, to which my other grandfather told him it was ok to get it next time.  

they probably went without for the following week as I'm sure that must have been most of his paycheck but it was a great lesson for this then 12 year old boy.  being rich goes far beyond material wealth and I'm someone some might consider rich.

[Brenjen]

Yes, rich is a subjective term, but I am referring specifically to monetary wealth. I thought that went without saying, that's why I didn't specifically say that in the OP.

 Sandman, I take your answer as "no comment" since you really didn't answer the question.

 I had the same situation with my Grandfather in a way, my blood grandfather skipped out on my grandmother & married a woman half her age & disowned the entire family years before I was ever born. My step-grandfather was the best guy a person could ever want to meet & always treated me like his blood. When my step-grandfather passed away I felt as close to crying as I've ever been over someone dying. When my real grandfather passed away, he died alone, blind & in filth. He left $750,000 in cash when he died that his step-son spent in a hurry. Funny how my grandad would leave all that money to someone who wouldn't even come to check on his condition; such is life & the confusing nature of the human animal.

[Sandman]

Hehe... I didn't like the question.

The acquisition of wealth won't make you rich. Something that I can agree wholeheartedly with Storch.

[Brenjen]

If you don't like the question, just don't answer. Simple enough.

[KONG1]

You need to have one thing to be rich - enough.

[lasersailor184]

I value being rich as having the money to do your most favorite activity.  When I have enough money to buy small sailboats and support them, I'll be rich.

[namvet]

>$100k/year

[nirvana]

I'd agree with namvet or about $5 million lump sum after taxes.  I don't think my family has $5 million accumulated debt and I don't think I could spend 5 million fast enough to go broke.  In short, after I paid off family debts, I'd invest it and still work for a living.

[cpxxx]

It is a pretty subjective term. I think you are rich if you have enough money not to have to work again. In other words live off the money you have or the interest it generates.

I seem to remember the a figure of �3 million stg/ $5.7 million/ 4.5 Euro mentioned once as being the minimum sum required.

On the other hand it could be your capacity to earn a couple of million a year. My sister and her husband's architect's practice generates a turnover over of 2 million Euro PA. I guess that makes them rich or soon to be at least. A friend earns over �3m Stg PA in London. So I stay really friendly with them. Somewhere down the road they will have enough in the bank to live off it without working. I just aspire to have enough in the bank to pay my half of the mortgage. One day I will too!!!!

On a TV program the other night on the BBC. A Brit millionaire said that you could have the flash car/private jet/yacht in the Med lifestyle on �10 mil. If you bother to earn more than that it was all ego in his opinion.

I suppose if you know you are really rich when you can buy anything but don't need to ask the price.

[Mustaine]

monetarily rich I think is not ever wondering how much something costs.

the old attage "if you have to ask, you can't afford it"

for me, and what I'd like to do and who i would like to give money too it means $25 million minimum after[/I] taxes.

[Holden McGroin]

Anybody who makes more money than I do is a rich greedy bastard, anybody who makes less is a lazy good for nothing leech.

[vorticon]

no monetary value. basicly if you do what you want, and have money left over.

[takeda]

Originally posted by vorticon
no monetary value. basicly if you do what you want, and have money left over.

I'm the poorest rich man in the world then