I guess the easy answer is when you have enough to never worry about making any more money again and are set at the lifestyle you are comfortable living?
I guess it’s relative. I grew up dirt poor. Now own a business and don’t worry about much. I’m comfortable with that. Like Nook said, don’t have the drive to do more. That might be because rich when I was a kid is a lot different than what rich is compared to my current status. If we’re being literal, I’d say generational wealth that your family is set and really don’t have to work to earn more. Your money makes money on it’s own.
That's about where I'm at. I save about $600 a month, and have all my needs met. Not necessarily living comfortable, but I do OK.
Rich: A desirable (to me) tract of land that puts at least 10 miles between my home and my nearest neighbor. Point and click (or touch) concubines. Financial institutions who pander to me. Local, regional and national politicians in my pocket. Legal impunity. A larger penis.
You have to be financially independent before you can shoot for rich. And always remember... 'Shaq is rich - the guy who signs his checks is wealthy'.
For me, all bills are paid, don’t worry about spending on anything, able to purchase assets that build portfolio, wife and kid don’t want for anything, nice neighborhood, nice schools, my business employs and takes care of multiple families, can vacation when we want.
Friendswood/Pearland suburbs. My wife buys what’s she wants (probably too much lol) we eat out when we want. Son is in Goddard school. Basically comfortable to me is firmly middle class to upper middle class.
I make more money than most but I still have to show up for work even if it's less than 40 hours a week. So I don't consider myself rich. I've very comfortable. My rich friends spend most of their time figuring what to do with the money they can't spend.
Right lol, sometimes I think it would be fun to get to that point. But I enjoy my business, I have flexibility and am comfortable. I have recently gotten into a few investment options just to see.
Exactly. When most people hear the word millionaire, they think of the guy from the Monopoly game with the top hat driving the Rolls Royce. But in a lot of cases, all it takes is a paid-for home and a fat 401K. There are plenty of millionaires out there who have never earned more than 200K in any year of their working lives. It's a marathon not a sprint.
Rich is when your wife or partner is satisfied materially? Some people fine living off scrounging pro fast food reviews for suggestions.
To add to this, the wife and I can usually afford one solid vacation per year. That to me is living pretty decently. I don't have a whole hell of a lot of extra money after bills + savings per month, but I did recently get a small raise ... so I'll take that. Just got our first home after living in apartments for 5 years and we're really proud of that. It's not a mansion, but a nice little home . Guess chronic depression sometimes tells me I don't have much, but I actually do.
