how much do you consider" rich"?

[Alpo]

Mr Reddington says he will make them all rich, and the store clerk immediately says, HOW RICH?

 

But he never says how much money he's going to give them.

 

 

In your mind, how much is rich? 100 grand? Quarter Mill? Million? 5 mill? How much?

[Sgt. C.J. Sabre, SASS #46770]

Enough to pay off everybody I owe money to, not have to worry about unexpected expenses again, and enough so that when I go, my wife doesn't have to worry about it.

[Rye Miles #13621]

In this day and age I’d say 550k and up. Of course it depends on where you live. 500k in NYC or California wouldn’t exactly make you rich but in many other parts of the country it would. 

[Rip Snorter]

The old Eastern European proverb comes to mind "Enough is as good as a feast."

[Cypress Sun]

5 million in liquid assets + 5 million in tangible assets for a total of 10 million net worth.

[Dapper Dave]

5 hours ago, Sgt. C.J. Sabre, SASS #46770 said:

Enough to pay off everybody I owe money to, not have to worry about unexpected expenses again, and enough so that when I go, my wife doesn't have to worry about it.

When I divorced my ex wife, I was deep in debt, credit rating so bad I couldn't qualify for a loan for a bubblegum, and always in the hole with the bank. My new wife helped me get on my feet, and I spent two years doing nothing but paying everyone back...all of them. I got my credit score up MUCH higher than it was, and if I need a loan for $10,000 to improve the back yard, the bank is already agreeable. What's even more amazing is when I started with that bank, right after my divorce, I couldn't get a checking account, only a savings, my rating was so bad. Slow and steady wins the race.

So what is rich to me? Me, right now. I have few bills, (If the Nissan Rogue hadn't died I'd have no car payment), I have play money every week, the house and land are fully paid off, wife drawing one retirement already, and in less than 3 years, I will retire. The nifty thing is, if I take the dirt nap before I actually retire, my wife can apply for and receive 4/5th of what my retirement would be, in addition to her own, not including the life insurance, so I know she is taken care of for the rest of her life.
I have a good woman, the best in the world, guns, ammo, time to shoot, a happy home..."rich" isn't a dollar amount, it's a feeling. And right now I feel richer than Elon.  

Edited July 25 by Dapper Dave

[watab kid]

rich is as much a state of mind as a monetary value , one has to look at quality of life and satisfaction you have on your current condition , if your not happy work harder and ;longer , if your satisfied with where you are you must be rich , few of us get to the levels that we see in the media speaking of the very rich like musk and such , but many of us are happy where we are because we found our way to comfort after working 60+ years of our lives .................speaking to the young , get to work , you can save far more than any of us old farts in your life and be far richer if thats what you want 

[Sgt. C.J. Sabre, SASS #46770]

28 minutes ago, Dapper Dave said:

When I divorced my ex wife, I was deep in debt, credit rating so bad I couldn't qualify for a loan for a bubblegum, and always in the hole with the bank. My new wife helped me get on my feet, and I spent two years doing nothing but paying everyone back...all of them. I got my credit score up MUCH higher than it was, and if I need a loan for $10,000 to improve the back yard, the bank is already agreeable. What's even more amazing is when I started with that bank, right after my divorce, I couldn't get a checking account, only a savings, my rating was so bad. Slow and steady wins the race.

Had similar experience with my wives. Second wife got my credit rating high enough that when we started having a little money to work with, I was able to buy my Jeep. It'd been 25 years since I had one.

When I retired, we had most everything either paid off or under control. The biggest mistake I made then was getting solar panels, but finances were where we didn't think it would be a problem. I had a 401K that was flush enough that I could use a monthly withdraw from that to pay the Mortgage. 

Then the Biden Economy hit. My 401K dropped like a stone. The my wife's car engine needed rebuilding. The house needed repiping, then the A/C went out. The dog needed dental surgery. Etc.

Now, unless Fairy Godmother visits and leaves me a bag of money, I need to reenter the workforce. A part time will do. A thousand a month will take the edge off. But oh well, life happens.

"Welcome to Walmart."

[Creeker, SASS #43022]

Rich is simple to understand.

 

"If" you can acquire an item, travel freely or engage in experiences without having to consider how this financial decision might affect any other component of your life - you are rich.

 

"If" you cannot - you might be poor, middle class or maybe even comfortable - but you are not rich.

 

I think about $10 million in liquidity and $10 million in quality high yield investments would allow me the freedom to feel rich.

 

I ain't there...yet.

 

Edited July 25 by Creeker, SASS #43022

[Brock]

could fly first class without batting an eye but usually dont

 

Have a chaufeur.

Edited July 25 by Brock

[Subdeacon Joe]

Enough to pay off my debts, buy a modest but nice house on about half an acre. Hire a landscaping service and a once a week housecleaning service, and live a slightly affluent lifestyle without touching the principal. That's probably in realm of $6,000,000 to $8,000,000 in investments.

[Gillbilly Greg]

I don't think there's any right answer. I would think it's all in HOW you live your life. Being able to buy anything you want or go anywhere you want, would eventually still leave you with an empty feeling like you're still wanting more and never quite scratching that itch. With limited income I think you would get more joy or satisfaction with any goal you reach. Yeah, everybody would like to be rich and get anything or go anywhere anytime they want but eventually it would leave you empty and never quite satisfied. (it's fun to think about though)

[Chantry]

Rich is subjective.  Without criticism, what is rich in Alabama & some other states, might barely pay the bills in other states.

 

Not rich, but in decent shape financially.  Keep in mind there are no guarantees in life, so try and have some fun along the way.

[Smokin Gator SASS #29736]

Supposedly happiness increases along with your finances increasing up to the point where you don't have to worry about paying your bills. My big advice to my kids is not to set up everything in your life to the point where if everything goes perfectly, you will just make it. Dependent on household income that amount varies greatly.

There are people out there who if one way or another they had 5 million dollars they would still be miserable because other people have 50 million bucks, let alone billions.

[Sgt. C.J. Sabre, SASS #46770]

4 hours ago, Gillbilly Greg said:

Yeah, everybody would like to be rich and get anything or go anywhere anytime they want but eventually it would leave you empty and never quite satisfied. (it's fun to think about though)

I'd be willing to take the chance.

[Smokin Gator SASS #29736]

The comment that include " buy whatever you want" is wide open. Big difference if you're talking about the more normal middle class things. Buying a new appliance without it hurting. New car when needed. Go on a little vacation. If you include buying a 50 million dollar mansion or other things of that nature they're quite different.

[WD Farren]

No cancer.

No heart disease.

No diabetes.

No restricted mobility.

 

And no bills or mortgage.

[Gateway Kid SASS# 70038 Life]

Not anywhere near financially as well off as some feel you need be to qualify as “rich”, but our cars, camper, tractor are paid for, 14 acres and house are paid for, no real credit card or other debt, social security pays routine bills plus some lunch money, and enough investment returns to buy some toys occasionally or go to other countries for photo opportunities a couple times a year. Most importantly still in okay health, my dogs and my wife still love me and I know where my eternity will be spent. Yes I feel rich. 
Regards

    

Gateway Kid

[Cypress Sun]

3 minutes ago, Gateway Kid SASS# 70038 Life said:

Not anywhere near financially as well off as some feel you need be to qualify as “rich”, but our cars, camper, tractor are paid for, 14 acres and house are paid for, no real credit card or other debt, social security pays routine bills plus some lunch money, and enough investment returns to buy some toys occasionally or go to other countries for photo opportunities a couple times a year. Most importantly still in okay health, my dogs and my wife still love me and I know where my eternity will be spent. Yes I feel rich. 
Regards

    

Gateway Kid

 

Can't do it by emoji's so .....  Double Like to this ^^^^

[Eyesa Horg]

I'd be thrilled just to get back to where we were B4 our retirement was lost!! 😉

[Subdeacon Joe]

21 hours ago, Gillbilly Greg said:

With limited income I think you would get more joy or satisfaction with any goal you reach.

 

That makes you rich.

 

 

[Tennessee Stud]

Quote

how much do you consider" rich"?

 

If you have one, good friend in this world... you are rich.