What does it take in terms of assets, abilities, and/or income for you to consider them wealthy?
You can cure rich with a weekend in Vegas, Wealth is terminal.
Shit, for the obscenely rich, a green plumber can cure that.
Bezos is not wealthy. He just has a lot of money. I can’t imagine he’s found any real happiness with it. Sure a brand new Ferrari every week can buy you some happiness, but that’s short lived.
The man has a serious mental illness that will not be addressed, because he has too much money and power for anyone to be allowed to tell him he’s ill.
Billionaires are a danger to themselves and others. They should be admitted into a mental hospital against their will and they should be treated until they are cured.
This isn’t even a “CEO bad” joke. I honestly believe it’s a mentally disorder. Or maybe a specific mix of different disorders and unfortunate environments, circumstances and enablers.
What’s your take on Elon…I know mental illness, but I saw somewhere that his gaming account that was almost #1 got banned and all I can think is he’s obsessed with being no1
I’m not sure it’s quite the same level of blatant disregard for human life, or life in general, that Bezos has. Elon has different issues than Bezos, but definitely something unhealthy and dangerous about his behaviour as well.
The tiers for me are: Doesn’t worry about money -> Doesn’t work -> Can afford a US senator to protect money. There are not titles for this kind of thing.
If you get a golden parachute after losing your job, you’re overly wealthy.
Lots of other good definitions in here as well
Anyone with a net worth listed on their wikipedia page.
Anyone who can lose several million dollars at work and might still have a job the next day.
Anyone who can damage fancy clothing and think “I’ll just get a new one.”
Anyone who can have a holiday abroad every year. Especially if they have a summer home.
Anyone who gets surprised when they find out someone has never been skiing.
Anyone who gets surprised when they find out someone has never been skiing.
That depends on culture a lot. In Austria it’s actually rare to find someone who has never been skiing (25% of the population go skiing regularly, and that has already been at around 50% not many years ago). Even when not doing it with your family while growing up everyone learns it at school.
I’m not rich at all but I do get surprised when someone who isn’t obviously from another country has never been skiing (typically it means that they grew up somewhere else but you just don’t notice anymore).
There are two thresholds that matter: “rich” is where you no longer have to really think much about money on a day to day basis, and “wealthy” is where you no longer have to work for a living. Both thresholds depend on your expenses and the lifestyle you’re looking for, I guess
I was about to type something very similar, but switching words. “Wealthy” to me implies having enough wealth to not really worry. “Rich” makes me think of Lamborghinis and yachts and mountains of cocaine.
The point at which you no longer know the well being of the people that count on you to survive, albeit employees or percentage of wealth held relative to the region. If someone you interact with is no longer human, like a landlord with a tenant that falls on hard times, anyone that feels they have rights that are more important than the well being of those in their immediate vicinity are worthless subhuman monsters I call rich.
Someone for whom the normal and inevitable experiences of suffering (illness, death in the family, natural disaster, etc) have no real economic consequences.
If you can basically do whatever you want and the cost is of little to no concern, you’re rich.
There are very few people who feel this way. CEOs making millions per year feel like they need to work - their mansions, airplanes and such cost so much money they don’t dare not work. It never occurs to them they could live like the rest of us.
Eh I’ll adjust that a bit to “and you’re not required to work 40 hours a week to do so”. If you are living well and still working, then I’d still say congrats, but that’s not rich, that’s supposed to be the top end of middle class. (If it is anymore, well, who knows).
The big kicker is if tomorrow they lay you off, are you nervous or worried? Not rich then, the rich would shrug it off and take a few months or years off doing whatever they like. If your first thought when you get laid off is “how long will my savings last” or “I need to find another job”, congrats! Not rich.
But if you don’t need to work (or you’re someone like a board member or executive who shows up for 10 hours a week and claim they “work”, then no, your rich, you have enough were you don’t have to work anymore.
What if you don’t have to work and you can fly to Europe for vacation without much worry, but you can’t fly first class without worry?
Cost is a concern then.
If they own a house, make at least 100k a year and can support their family comfortably, I would consider that wealthy. My father is in this bracket and he goes on vacations over seas, owns 3 relatively expensive vehicles, and still saves enough for retirement.
You don’t need a million dollars to live a rich, fulfilling life.
Which kind of rich do you mean? The ‘this person is truly wealthy but it’s not unreasonable’ or ‘this person is unacceptably rich and should have their money taken away if not worse’?
The former can be somewhere around…$10,000,000 or so. Lower the older the person is really (cause I consider rich versus remaining expected lifespan), so maybe even as low as $6,000,000 for someone who’s currently 40.
The latter where it’s simply unacceptable for people to have that much I’d start the cutoff around $400,000,000 or so.
And slight sidenote on the unacceptable levels: Elon Musk and Jeff Bezos both are so unacceptably wealthy that they could make one person a day wealthy by my $10,000,000 standard…every day…for 100 years…before running out (and that’s assuming they stopped accruing money at the beginning of this)…and still be unacceptably wealthy to a crazy degree.
Oh and all my numbers are assuming no additional income and definitely no interest or investment (but also assuming the money remains the same value it has today).
I guess what would it take for you to look at yourself and conclude that you’re rich?
$500,000 combined household gross income
If literally running around in a warehouse full of 20 dollar bills collecting all you can with your hands and unlimited bags makes less money, there’s no fucking way your actual work is producing so much value.
Anyone who has strong opinions about new video games or a favourite Tiktoker is wealthy
What?
Nobody wants to give a hard number?
I’ll say six million dollars earning ~5%/year. That’s $300k/yr before taxes. Assuming long-term investments, that’s 15% gains tax, so take $45k for taxes (fed), no idea what state will be because they’re all different, so just round it down to $250k year income in your pocket.
$250k/yr isn’t a lot of money…(I can hear the wtf’s…just hang on)…out of that has to come all your expenses including medical insurance in the US, your mortgage, car payments, etc.
This is not “fuck you” money. This is living an upper middle class lifestyle. You’ll have nice cars but not crazy nice. A decent house but not a mansion. You can tweak it a little this way or that depending on the CoL of where you live, but not a lot. Yeah, you can earn more in interest, but I was being conservative.
You’re rich because you don’t have to lift a finger to enjoy it, and you have the time to enjoy it.
Want closer to fuck you money with the above conditions? Try $20 million in the investments at 5%. That’ll get you a million a year before tax.
I agree my threshold is a bit lower and roughly comes out as getting 100k a year before tax so $2m.
Everyone is going to have different lifestyle wants. My low number might be too low for many, they might think living more lavishly would be more “rich”. I figured my numbers are adequate to live a moderate lifestyle and have no serious money worries. No Ferraris, of course, but a top trim level Honda no problem or a good BMW with some budgeting.
The real luxury is not having to work.
