Chevstriss
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How do you define RICH?Rich means different things to different people - usually it means "has more money than me. A LOT more".
so how do you define it? fancy car? MacMansion?
when I look at showy cars I always wonder if they are paid for, and if the big house is ready for foreclosure.
sometimes I think I am rich, but then I'll watch some stupid show about a $4 million dollar birthday party and think I really should be out there hustling up more scratch to keep up.
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Felix Felicis
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I think, for me, someone is rich when they can buy what they want, when they want it, without the tiniest hint of worry.
Basically, I think you're rich when money stops being an issue completely.
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Chevstriss
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| Felix Felicis wrote: | I think, for me, someone is rich when they can buy what they want, when they want it, without the tiniest hint of worry.
Basically, I think you're rich when money stops being an issue completely. |
but does it EVER stop being an issue? If you have household staff on your payroll, can you really blow cash on a new vacation home without worrying about it? Certainly some people live that way, but usually they go thru their fortunes quickly and wind up back where they started.
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Patch
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I think the term "rich" really is subjective.
It's all a matter of how you manage your finances. You can have all the money on the world flowing into your accounts, but if you have no real handle on where it's going then you really aren't all that wealthy.
Look at professional athletes that receive these multi-million dollar contracts...they may be set to earn four...six million dollars a year for over a six to eight period...and yet at the end of their careers...they're broke! How does that happen?
It's money management. I'm the last person to be preaching this topic as I'm a financial disaster, but seriously if someone is making it hand over fist but spend it like it's water without thinking of things like...taxes...retirement...people who you think are close to you screwing you out of money...it's all going to end poorly.
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Chevstriss
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| Patch wrote: | I think the term "rich" really is subjective.
It's all a matter of how you manage your finances. You can have all the money on the world flowing into your accounts, but if you have no real handle on where it's going then you really aren't all that wealthy.
Look at professional athletes that receive these multi-million dollar contracts...they may be set to earn four...six million dollars a year for over a six to eight period...and yet at the end of their careers...they're broke! How does that happen?
It's money management. I'm the last person to be preaching this topic as I'm a financial disaster, but seriously if someone is making it hand over fist but spend it like it's water without thinking of things like...taxes...retirement...people who you think are close to you screwing you out of money...it's all going to end poorly. |
that's what I mean by "not worrying about it". the more you have, the more people are going to try to take it from you - suddenly you have an entourage, relatives come out of the woodwork, legal scammers and various other succubus that come to life when cash is flowing. Realistically, someone with $1 million in the bank should be able to invest wisely, live frugally, and not have to work minumun wage ever again. Alas that is not the case for most.
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Beagle On Stage
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You are rich when you have family and friends to love, and who love you in return.
PSYCH!
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Far Off Broadway
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I agree with the "when money stops being an issue" quote. I've been known to be rather "footloose and fancy free" with my money, particularly when on vacation, but I try to keep it within reason. However, to be able to do that and not have to "worry" about any financial ramifications from such spending, THAT is the definition of rich to me. (Where your amount of money/income affects your attitudes/emotions for the better because you have no concerns/worries.)
With my degree/line of work, I know I'll never be "rich" or have money NOT be an issue. I know I could do better with what I have (money management issues), but I also know that I'm only going on this ride once and I don't want to strike a nice balance between safety/luxury that doesn't make things too difficult for me/others.
I consider others who "work" for their money rich, but I only see a small percentage of jobs leading to that. To me, the only way to achieve MY definition of rich (for me anyway) is to hit the lottery, win PCS, or the like.
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Salome
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i also agree with.. "when mmoney stops being an issue". however some people dont; live within their means.
as far as the united states goes anyone making over 200,000 a year is rich.
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Patch
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| Quote: | | as far as the united states goes anyone making over 200,000 a year is rich. |
While techincally the IRS considers anyone making over $250,000.00 anually to be in the upper tier of the tax brackets...I feel the above is far too broad brushed of a statement.
Again, it's all a matter of how you manage your income/outgo that will truly define how well off you are.
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LaurelDP
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Lots of butter.
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Felix Felicis
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| LaurelDP wrote: | | Lots of butter. |
[/thread]
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dolbinau
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When I hear of 'rich people' I tend to think of families with combined incomes over a million per year..
And 'high rollers'.
I also make a distinction between being wealthy and being 'rich'.
Though maybe I'm rather seeing rich people are 'wealthy' and filthy rich people as 'rich'.
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Jman383
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Personally, I consider anyone rich if they and/or their family (depending on the person in question's age etc) makes more than $300,000 a year, and makes that consistently.
But that's just me...
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Disney-Bway27
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| Felix Felicis wrote: | | LaurelDP wrote: | | Lots of butter. |
[/thread] |
I agree. THAT is the definition to end all definitions.
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bittenbythetheatrebug
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The definition of rich (monetary): When you can purchase something exorbitant without worry or a loan. What Lauren and her family is not. 
Seriously, I'd rather have good friends than a car, though. 
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Dax
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There is wealth and then there's net worth.
And then there's the relationship between wealth and power, but that's getting off-topic.
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Mumsytype
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For me, 'rich' is when you can sit at the end of the day, look back at time well spent, and plan happy projects/trips with beloved people in the assurance that it'll happen. It's a lot more than just having pots of money, it's the way that money is viewed and used.
'Wealthy' is simply having a lot of money - enough not to worry about buying anything you might want. Providing, of course, it can be bought.
A rich man is one who wants for nothing - because his wants are moderate and met.
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Beagle On Stage
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| Mumsytype wrote: | | Providing, of course, it can be bought. |
With the exception of final salvation, anything can be bought.
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Jman383
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| Beagle On Stage wrote: | | Mumsytype wrote: | | Providing, of course, it can be bought. |
With the exception of final salvation, anything can be bought. |
Eh, judging by some of those bible stories, salvation seems pretty marketable.
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