Agreed. I now make more money than I ever did, but I also spend almost all of it. My annual spending for computers/electronics is now over $30K per year. Last year I spent about $15K on Lego toys. I'm such a spendthrift.
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How much money does it take to be rich?
- Thread starter Rodimus Prime
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Agreed. I now make more money than I ever did, but I also spend almost all of it. My annual spending for computers/electronics is now over $30K per year. Last year I spent about $15K on Lego toys. I'm such a spendthrift.
I'm quite good at that. I haven't really bought anything for myself in a few months, just an £8 game. Suppose that's another reason to go to uni - learn the value of money! With my student loan, once I was done with (real) necessities I didn't really have much else.
I reckon I could get by on just £10k a year since I'm living with my parents still.
My dad owns a successful tiling company has a nice car and house , he earns £100,000 + are we rich
Obviously it's different due to the cost of living and such but in my young naive mind here's how it breaks down.
85k+ - Doing well.
100k+ - Living comfortably.
150k+ - Close to "Rich"
200k+ - "More than I can dream of"
It would be nice to be able to save half of your income and still live comfortably.
I am only a small-young 10 year old boy though.
85k+ - Doing well.
100k+ - Living comfortably.
150k+ - Close to "Rich"
200k+ - "More than I can dream of"
It would be nice to be able to save half of your income and still live comfortably.
I am only a small-young 10 year old boy though.
In a way I would be rich if I had a job I enjoyed and the spare time and money to enjoy my hobbies.
Don't know what the hell I would spend the rest of the money on. Just expanding on collections, I guess.
EDIT: Also, I come from a family I would classify as "comfortable". No point in giving numbers, really.
Don't know what the hell I would spend the rest of the money on. Just expanding on collections, I guess.
EDIT: Also, I come from a family I would classify as "comfortable". No point in giving numbers, really.
£100,000-£200,000 will certainly give you a comfortable quality of life but you're not rich. As has been mentioned, even £1,000,000 isn't enough to count as rich these days.
I'd say an income of £5,000,000 is the entry level to what can be classified as rich.
I'd say an income of £5,000,000 is the entry level to what can be classified as rich.
My dad owns a successful tiling company has a nice car and house , he earns £100,000 + are we rich
Oh the vanity behind reviving a four year old thread...
Oh the vanity behind reviving a four year old thread...
He/she is new, and has to jump in somewhere.
I would say enough to allow a run for POTUS, as you have no more dragons to vanquish.
Being rich is the sheer satisfaction of paying your bills 10 or more days before they're due and being able to use the rest of your paycheck/funds on whatever you'd like.
Like me.
Like me.
I became rich the moment I realized money can't buy me happiness, satisfaction, nor contentment with life.
This is true but it's something a lot of people have to learn the hard way. The time of my life where I was earning the most money was one of the times when I was the most stressed, fed up, and depressive.
Sure, you can buy more things more easily, but what does that do for you once the novelty wears off? Leaves you with a pile of stuff that will never ever bring you emotional satisfaction.
On the other hand, you know what they say... Money can't buy you happiness, but it can buy you weed, and that's kinda the same thing
It all depends on where you live
At the moment, being in the 99th percentile seems to be the working definition. In the US, that would be a little north of $250K. 99th percentile in, say, Somalia, would be -- what?
At the moment, being in the 99th percentile seems to be the working definition. In the US, that would be a little north of $250K. 99th percentile in, say, Somalia, would be -- what?
That's a terrible measurement. In the UK that's £150,000, which is still not enough to make you "rich". Same for $250,000.
I read something in the FT a long time ago which I thought was interesting. The line went something along the lines of "if you don't need to think about how much money you have, you are rich."
It was a good line I think, it's very true. A preset amount of money might be a fortune to some, but modest to others. It'll depend on spending habits, preferred lifestyle, location, family situation etc.
It was a good line I think, it's very true. A preset amount of money might be a fortune to some, but modest to others. It'll depend on spending habits, preferred lifestyle, location, family situation etc.
I already said a few posts back.
My parents earn enough to be in the top 1% but they're still not "rich." As I was growing up we had no fancy cars or private villas or jets or the like. But certainly a comfortable life. That's what it gives you.
A lot of people in this world can afford a fancy car if they really want. If you define "fancy" as something like a Mercedes or BMW. Villas on the Riviera and private jets, now, are another story. I see your post where you say "£5,000,000". I wouldn't call that "rich". I would call it "super-rich". Or, as one term has it, "top out of sight". I guess "rich" means different things to different people.
A lot of people in this world can afford a fancy car if they really want. If you define "fancy" as something like a Mercedes or BMW. Villas on the Riviera and private jets, now, are another story. I see your post where you say "£5,000,000". I wouldn't call that "rich". I would call it "super-rich". Or, as one term has it, "top out of sight". I guess "rich" means different things to different people.
Well if you define rich as being comfortable that's your view, but IMHO it's more than that. Agree to disagree
I personally think someone making over 500K is rich. Anything between that and the $50,000 average income is just well off.
Rich is not the man who has the most, but the man that need the least.
I mean, if you has 2 things and you are fine with it... you are rich!
I would live not to need anything. I would like to have a 5th of the clothing I have. Have an smaller apartment and more efficient. I would love to have way more friends. It all depends.
I mean, if you has 2 things and you are fine with it... you are rich!
I would live not to need anything. I would like to have a 5th of the clothing I have. Have an smaller apartment and more efficient. I would love to have way more friends. It all depends.
The true answer is "more then they currently earn". It's all relative and nobody really considers themselves rich.