How Much Money Makes You Rich?

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Having known people all across the income spectrum, this question always fascinated me. Never has it fascinated me more than a few weeks ago, when I was browsing the Forbes Rich List with a friend. As every single person on that list is a billionaire, I can assume they consider themselves super rich. I got into a discussion with a friend how rich is super rich. I have heard one can live as if he is super rich with $750 million in net worth, but I am not sure. $750 million can buy you all the luxury you ever want, but can it buy you luxury for friends or extended family? Can it protect you from a damaging lawsuit or a government seizure of your assets? Can it buy you political connections at a national or international level?

This made me think of the more mundane issue of being "rich." Being a "millionaire" is often short hand for being rich, but those I know who have a million USD, or who I think do, say it does not go far. They tend to live in higher priced metros like New York, though.

I also know those who live on $10,000 a year or less may be considered rich elsewhere. My Laotian friend tells me white people are singled out for kidnapping, as most whites are far wealthier than most Laotians. I am sure someone from Laos might be considered rich if he traveled to a poorer society in sub Sahara Africa.

Where would you draw the line between rich and not rich? As you may be able to tell from my dialogue, I am not sure. All I know is that net worth matters more than income. I have heard horror stories of those with six figure salaries living paycheck to paycheck. If they live in New York, California or Western Europe, I believe it.

Community standards.

If you're the only person in town that pays his bills on time, feeds and clothes his family, and keeps a roof over their heads, then you are rich.

I never bought that definition of rich. Being the richest man in McAllen TX probably means nothing in objective terms.

How about this..
Money doesn't make you rich.

most people would define rich as:

never having to work for a living, while enjoying practically unlimited spending power, without any earthly worries which aren't simply amenable to general amounts of money- a life of constant and uninterrupted leisure of the fanciest kind.

Rich is a very subjective thing I live on 800 a month and barter 80 a week from earnings the rest go to my family, the other from miscellaneous work. However I consider my self far richer than when I used to work on the road with a 500 a week take home pay.

if i were a hollywood type or a new york intelligentsia type, i'd consider myself rich.

When you have more than the other person, you're rich to them. It's all relative, you see.

if i have two pisspots and my neighbor in the next cave has only one, then i guess i'm rich.

More than I've got now.

THAT says it all!

"More than I have" is likely the most-used definition of "wealthy" that I have ever heard people use.

^^This


If you earn more than you spend, you're rich. You can become rich by adjusting either income or expenditure. OK, make that if you earn, doing a job you like, more than you spend.

People who are poor by that definition despite an income in the global top insert_number_here% are known as having more money than sense. Adjust threshold to your taste. That usually means someone with an income greater than yours

Last edited by Gromit on 19 Mar 2013, 4:30 pm, edited 1 time in total.

In the Country of the Blind, the One-Eyed Man is King.

In the Land of the Penniless, the man with one penny has wealth.

One pretty good definition I read somewhere:

If you could get severely ill, or divorced, or lose your job, and still be sure you'll never have to worry about money, you're rich.

There is no amount of money which qualifies anyone as "rich". People who have no money, are homeless, and have nothing but a blanket, can feel rich, if it's what they want. On the other hand, people with mansions in several countries, yachts, private jets, and too much money in the bank to comprehend, can feel poor.

The reason I know this, is that I've been near both ends of that spectrum. Never homeless (for more than a couple days), and never any mansions or yachts. But I have always felt rich, as I never had to go without something I needed or REALLY wanted. I am happy with, and grateful for what I have, and that will be my attitude in any circumstances. At this point I have enough that I could quit today, buy a yacht, and just do whatever I want for the rest of my life, and have plenty of money for living a nice lifestyle. But I would never dream of doing that, because I'd FEEL poor, as I would not feel like I deserved any of it if I didn't contribute to society by doing some kind of gainful work. People say I only work because I want to, but that's not exactly true. I work because when I don't, I feel like a failure. And I like feeling like a success, which means I must CREATE my success by running a good, gainful business and paying hefty taxes.

Charles

I wish it was true