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What do you consider 'rich'?

Discussion in 'BBS Hangout' started by Xerobull, Apr 20, 2021.

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What do you consider 'rich'?

  1. Roof over you head, air conditioning, working car, three meals a day

    0 vote(s)
    0.0%
  2. Luxury car, latest iPhone, massive top-brand TV

    2 vote(s)
    3.3%
  3. Own a house

    1 vote(s)
    1.7%
  4. Own a McMansion and a vacation house

    9 vote(s)
    15.0%
  5. New socks every day and a Lambo in the gatehouse

    0 vote(s)
    0.0%
  6. Financially independent, never have to work again

    34 vote(s)
    56.7%
  7. Private Jet, houses in different countries

    9 vote(s)
    15.0%
  8. Drugs, rock 'n' roll, bad ass Vegas hoes, Late-night booty calls, shiny disco balls..

    0 vote(s)
    0.0%
  9. Buy politicians to further your agenda

    3 vote(s)
    5.0%
  10. Private island, dress like Dr. Evil, hunt the most dangerous game...

    2 vote(s)
    3.3%
  1. Xerobull

    Xerobull Salve Dicit Mater Tua
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    What do you consider 'rich'?
     
  2. Space Ghost

    Space Ghost Contributing Member

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    Having everything paid for that meets your standard of living (house, vehicle, ect ...), no debt that isn't giving you direct returns, several years of reserves in liquid assets and investments that are returning passive income that meets your year to year standard of living.

    There are lots of people who have big houses and luxurious toys who are living month to month. Look no further than TF. He can barely pay his employees salaries and releases his best assets from their contracts to save a few million.
     
  3. CCity Zero

    CCity Zero Member

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    I really just think "Financially independent, never have to work again" is enough and then from there - with enough money you can aspire to reach further up the chart if you want. But when I mean financially independent - it means you have enough FU money that you have income coming in from various sources and are financially set with owning properties etc.

    I don't mean financially independent and living in a tent - unless you really like camping, haha
     
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  4. droxford

    droxford Member

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    Roof over you head, air conditioning, working car, three meals a day
    There are plenty of people who have this, yet aren't wealthy

    Luxury car, latest iPhone, massive top-brand TV
    All can be purchased by going into debt. And, sadly, there are a LOT of Americans who will go into debt for this crap just to present the image of being rich, when they're really in financial trouble

    Own a house
    See #1 above

    Own a McMansion and a vacation house
    New socks every day and a Lambo in the gatehouse

    see #2 above

    Financially independent, never have to work again
    Financially, I don't HAVE to work but it's a better financial decision for me to work than it is for me to stay at home and pay for my kid's schooling/college. There are many others who are also like this.

    Private Jet, houses in different countries
    Yup - only very rich people can do this

    Drugs, rock 'n' roll, bad ass Vegas hoes, Late-night booty calls, shiny disco balls..
    See #2 above

    Buy politicians to further your agenda
    Private island, dress like Dr. Evil, hunt the most dangerous game...

    Yup - only very rich people can do this

    There are quite a lot of people who are financially rich (millions) but drive a humble car (cars are a terrible investment, unless they're a collector car), live in a medium-size house (reducing property tax), continue to work (increasing revenue while investing), and live normal lives. The "millionaire next door" crowd.
     
  5. Nook

    Nook Member

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    Doing okay is having a car, and a home with AC.

    Doing better than most is owning a house, having long term job security, having multiple cars and the ability to vacation sometimes.

    Being comfortable is the ability to never have to work again, even if there are some reasonable sacrifices.

    The rich can stop working and it will not severely impact their lifestyle.

    The uber rich are buying large amounts of real estate, assets and also can impact public policy.

    You can yo yo up and down on this list somewhat.

    I have been at the "comfortable" stage before deciding to sacrifice to keep all my employees paid for all of COVID. Now I am at the "doing better than most" point and honestly no longer have the fire in my belly to get to the higher rungs.
     
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  6. ima_drummer2k

    ima_drummer2k Contributing Member

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    Assets - liabilities = 1 million.

    Easier than most people think if you don't have any liabilities (debt).
     
  7. AWIN

    AWIN Member

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    You can only work so much to move up in the first few stages Nook mentioned. To go from rich to uber takes generational wealth or a combination of hard work and extreme luck to maybe provide your great great great grandkids the chance at moving into the highest stage.

    I'll take feeling rich for 48 hours and go with hookers and coke please.
     
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  8. donkeypunch

    donkeypunch Contributing Member

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    German chocolate cake with chocolate frosting.
     
  9. Buck Turgidson

    Buck Turgidson Mineshaft Enthusiast

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    Helicopter ownership
     
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  10. Xerobull

    Xerobull Salve Dicit Mater Tua
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    It's all
    [​IMG]

    [​IMG]
     
    #10 Xerobull, Apr 20, 2021
    Last edited: Apr 20, 2021
  11. AWIN

    AWIN Member

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    To buy a lot, tear down the trap house on it and then spend another million to build a normal house until you can save for your "dream" house!
     
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  12. RedRedemption

    RedRedemption Contributing Member

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    If day to day expenses and sudden emergency expenses don't cause you anxiety.
     
  13. ThatBoyNick

    ThatBoyNick Member

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    A sustainable net worth over 10 million I’d consider on the border of being “baby rich”, in the Houston area. Depends on the household size / dependents.

    There’s tons of factors. Top 1% household net worth is about 11-12 million I think.



    Now guys like John Wall and Ryan Anderson, those guys are loaded!
     
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  14. ThatBoyNick

    ThatBoyNick Member

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    Now for my corny but true answer

    A healthy person who’s content with their life, and has good relationships with loved ones.
     
  15. boomboom

    boomboom Contributing Member

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    Scrooge McDuck
     
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  16. MadMax

    MadMax Contributing Member

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    if you have basics knocked out and can save anything at all at the end of the month, you're historically knocking it out of the park.
     
  17. cmoak1982

    cmoak1982 Member
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    I’m about the same. I’m comfortable.
     
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  18. IBTL

    IBTL Member

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    Strangely there are levels all the way from bezos and carlos slim down to the people living in mud huts in india and africa.
    I do recommend folks see how some in india got it and know they are VERY lucky.

    Having crappy parents and them being terrible with decisions is lame and requires some boot strappy.. even in usa but go live in a hut in india for one night and call me back.

    There is millions like harden then he looks poor next to fern tits.

    I heard somewhere if you are a billionaire you didnt earn it , you "took" it...
    To that extent harden "earned" it?
    I was in monaco feeling generally bad ass when a mega yacht with belly dancers rolled in.sheikhs of some kind...umm ok yeah I accept it...im not "rich"

    Enjoy it while you got it
    Smoke em if you got em
     
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  19. cheke64

    cheke64 Member

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    rich is $12 an hour with 10-20 hours of overtime a paycheck.
    Poor is a mcdonalds employee.
     
  20. cmoak1982

    cmoak1982 Member
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    Not sure about net worth. But annual income to be considered 1% in Houston is 450k.
    To be considered “rich” I believe is top 10% is annual income of 118k
     

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