What do you consider "rich"?

[Brandon13]

Depends on location. $1 million in Hattiesburg, Mississippi, is a lot more relatively speaking than $1 million in New York City.

[countryboy]

I consider myself "rich" because I'm financially secure and can go do what I want, pretty much when I want

Obviously when I say that I'm not talking extreme like I can go buy a brand new car straight cash or anything along those lines, but I have enough disposable income to be extremely flexible.

And monatary value in my opinion, has little to do with whether you're rich or not, because if you're living well beyond your means, it doesn't matter how much money you make, you're still living paycheck to paycheck.

[callmetaternuts]

I'd say either an annual income (one or two incomes) would be over $300k in regular suburbia, or a net worth of over $650k.

[JohnnytheSkin]

While I understand the sentiments of it's more "where you live" being more meaningful than income, indulge me for a second. For those who feel that the benchmark CJ set, of 100k being rich, being too low a number (assuming household)...what are you guys bringing home?

I assume that a lot of the higher values, 300k, 500k, etc. might be because you personally don't want to believe you are rich, despite the fact that you make way more than the large majority of American households.

Some of my wife's friends will go to their graves about how they too are struggling in the suburbs of Denver, are only "upper middle class", despite bringing home near 200k.

For posterity's sake, here's my generic metric for a household of four:

25 - 50k = lower middle class (i.e. above poverty)
50 - 75k = middle class
75 - 125k = upper middle class
125k+ = "rich"

Our gross last year was 151k. I suppose I could rant and throw out other stuff like we have an '06 and a '95 for our cars, live in a fifteen year old house, etc. but really, what's the point.

[Boucher]

I'm very fortunate to have a successful mother, we have been able to travel the world and I realize I probably won't be able to ever go back. I must say Russia is a most go if you get a chance

[boomhauertjs]

If you can do this...

[mjb2124]

Quote: Originally Posted by cjonesfan921

To me, rich means you don't have to worry about paying the bills. Bills as in, the normal bills over everyday life. Car, house, insurance, electricity, grocery, etc. Not the extra, materialistic things. I just think 100K for a household is enough.

Under that standard, my wife and I would be considered rich. I just don't see it that way. Doing well? Sure, but definitely not rich IMO. I think my parent's are rich. Both retired with enough projected money to last until they are 120 years old. They also paid off a 30 year mortgage in 10 years and bought a 40K car with cash this last year.

I suppose this is where the definition of rich changes between person to person. I partially agree with your description above, but I like to take it a step forward. That being that along with the bills, the person can also afford the materialistic things they want without a problem (and I'm not referring to the people I think of as extraordinarily rich - those that can buy Bentley's and million dollar houses etc... Those people are in a completely different category).

[sb24]

I work at a small community bank with only 2 branches. I am amazed at how many large balances there are here. I see the 100k way more than i thought i would. But those are also alot of life savings.

Rich is when your EARNING above the 125-150k range. If thats your balance your not rich but your not worring about bills.

Rich is when your balance(cash not assets) is 500k and your 5 thousand sq foot house, benz, and hummer are already paid for and your just living off a small job and the the intrest you earn

Rich is when your INCOME is the intrest you earn on your account balance. At that point you dont even need to invest you just watch your money earn money instead of you.

EDIT: My thoughts are not really for a family more a single guy or married with no kids thing. Also each time you earn more you spend more. Thinking the expensive is entitled to you. So we tend to waste money then claim we dont make enough. We make enough we just dont use it wisely or we abused credit.