What is Rich to you?

iVillage Member
Registered: 07-17-2007
What is Rich to you?
254
Wed, 09-16-2009 - 7:33am

Do you use a US scale? A World scale? A European Scale?

IME, on this type of board, people tend to define rich as about 2-4 times whatever they are making. It seems to be a very relative term for most people.

Pages

iVillage Member
Registered: 08-22-2009
Wed, 09-16-2009 - 7:51am

I think it is a relative term because there are so many variables (COL, expenses).

11 years ago when DH retired from the Air Force I would have considered what our household income is now to be rich. I no longer think so.

Avatar for rollmops2009
iVillage Member
Registered: 02-24-2009
Wed, 09-16-2009 - 8:00am
Rich is when you have inherited money or made so much money on Wall Street that you could retire anytime.
iVillage Member
Registered: 04-22-2005
Wed, 09-16-2009 - 10:06am
I generally think of "rich" as being in the top 25% income bracket.









Photobucket




iVillage Member
Registered: 01-09-2009
Wed, 09-16-2009 - 10:08am

I agree sild...


and from dictionary.com:


having wealth or great possessions; abundantly supplied with resources, means, or funds


I think of a person being rich who has the funds to live extravagantly (after taking care of basics such as healthcare, education and retirement, etc), w/out (too much) worry about funds running out.

********
Ducky

Community Leader
Registered: 02-06-2006
Wed, 09-16-2009 - 10:16am

I think rich means you have enough money to retire at any point and have no need to actively bring in any

Photobucket


iVillage Member
Registered: 11-22-2000
Wed, 09-16-2009 - 10:20am

That sounds about right to me.


iVillage Member
Registered: 01-09-2009
Wed, 09-16-2009 - 10:20am

I would agree with this, with one point of clarification.....


I think rich means you have enough money to retire at any point and have no need to actively bring in any

********
Ducky

iVillage Member
Registered: 12-07-2003
Wed, 09-16-2009 - 10:39am
I think along the same lines. I'd go a little higher though-- probably somewhere around the top 10%.
iVillage Member
Registered: 04-22-2005
Wed, 09-16-2009 - 10:48am
I'll agree to that. Top 5% is where my mind goes from "rich" to "filthy rich". And there is the top 1%, known to me as "filthy stinkin' rich" :-)









Photobucket




Avatar for rollmops2009
iVillage Member
Registered: 02-24-2009
Wed, 09-16-2009 - 10:53am

Or higher yet. According to Wiki:

"In 2006, there were approximately 116,011,000 households in the United States. 1.93% of all households had annual incomes exceeding $250,000." http://en.wikipedia.org/wiki/Household_income_in_the_United_States

And there are many places in the US where a household income of 250K would not put you anywhere near "rich," by any definition.

According to the same entry, the top quintile starts at household income of 91k, which actually shocked me slightly.

Pages