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What amount of income reaches the rich status for you?


dem00n

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IMO, to live comfortably and debt free (except for a mortgage and a car payment), I think a family of four would need an annual take home income of around $50,000 to $100,000 depending on where you live. To me, rich is an income of $200,000/yr regardless of where you live. I think that puts you in the upper class.

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There are two rich statuses in my opinion.

 

Truly rich is everyone who is appeased with what one's got and what one earns.

 

Relatively rich, since it much depends on surroundings, is a person who earns all one needs for the rest of one's life within a fairly overviewable period of time, may it be a few months or a few years.

 

However, for the latter there are certain factors one can't control, in nature, politics and economics. This fact is IMHO the reason for the greed of unscrupulous so-called top managers. I don't think that most of these have done anything useful for mankind that would justify any income.

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Income comes and goes.

 

I was looking for "Happy".

 

Guess we think differently.

 

Rich for me = $750k/yr and that is just cutting it living in NJ. I am not sure how anyone can survive in this state at <$150k/yr for a family of 4

The voice of Monty Burns from The Simpsons singing 'Buddy, Can You Spare a Dime' flits through my head........lol!

 

P.

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Everyone (here) is "richer" than me! [flapper][biggrin]

 

But then "Rich," like so many things, is in the eye of the beholder,

and a matter of perspective, too. I know a lot of "Rich" folks, in

terms of money and possessions, that are totally bankrupt, morally and

spiritually. So, monetary levels, don't always indicate "rich," to me.

 

CB

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To me, rich means never having to check your bank balance.

 

I like this idea. [thumbup]

 

That said, I bet the wealthy check their bank balance(s) quite often. I guess I'm saying I'd love to have enough money to not worry about money, but not so much that I have to worry about money! [biggrin]

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I think the point about location is pretty much on target. I know that I'd have to roughly double my income to live as I do now in the "city" an hour away and perhaps 10 times that for a similar degree of comfort in Manhattan. Yet if you saw my income tax forms some might question how I'm doing more than a bare survival.

 

There are a couple of steps I think one must consider.

 

When you don't know what you can get to eat, and where you're gonna sleep where it's warm in winter and decently cool in summer because of what you would need to pay for it, you ain't rich.

 

When the bills are more than what you have, and are likely to have, and the vultures are circling, regardless your theoretical income, you ain't rich.

 

Check Maslow's pyramid, and this Wikipedia entry pretty well covers it: http://en.wikipedia.org/wiki/Maslow's_hierarchy_of_needs

 

Yeah, some folks figure stuff like attachment theories have supplanted it, but I think at base Maslow pretty well explains where "we" are as human beings. It also is time, place and culturally transferable to cover the spirit of that perspective. E.g., a Lakota warrior in 1825 would have a far different set of achievements to meet Maslow's pyramid, but within his context, one could reach the top of the pyramid and be "rich" without worries.

 

Having our basic survival needs met is the basis, but it's not enough to bring us comfort.

 

Safety is the next step and that ain't enough to let us feel "whole" within oneself.

 

Etc. up the pyramid.

 

I'd say that one is "rich" if in his or her time or place there's no internal or external "need" for that which is more than that to which one has access.

 

As an example, give me a $1 million a year and put me in a Manhattan apartment appropriate at that paycheck, I'd still likely not be all that comfortable because I "need" to see the sea of grass or snow with the big hills in the background and not another human in sight. I've already guitars that play well; I wish I had a bit more time to get back to my favorite PT and pickin', but they're still there. I don't care much for where I see society heading, but I don't worry much about it because of the sad karma they're bringing onto that direction of "progress."

 

So... I'd say that for one's time and place if one isn't hung up about too much beyond the ridiculousness of some of those around them in society, is comfortable physically and mentally, and could croak without baggage bringing one's own belief in variations of "bad karma," I'd say you're likely truly rich.

 

If you're so insecure you constantly "need" more of this or that, you ain't rich. If you continue to have "need" and yet have lots of money, you may be gaining more bad than good karma. But it's not the money that brings good or bad karma, one way or another, after achieving that comfort for one's time, place and internal feelings of a degree of personal peace.

 

I'd love to have a large amount of money to set up a couple of foundations. Ain't likely. But if somehow I convinced others to read the classics (Aristotle, Plato, Xenophon, Plutarch, Livy, etc.) and seek to understand them, to learn to cook, sew, to handle firearms, to learn martial arts... I'd feel I've achieved enough good karma for one life, and with the material things I have now, I'd be rich beyond wealth.

 

m

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Guest Farnsbarns

If you plot a graph showing the life style.of everyone on the planet, then draw a line across it at the point where every person on the planet can be sustained indefinateltly by the earths resourses, you're rich if you're above it and poor if you're below it. I have met just a handful of people who are living below it and none of them in my own country. If you're on this forum, you're rich, by definition, you have an internet connection and a device to use it.

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I guess I'm saying I'd love to have enough money to not worry about money, but not so much that I have to worry about money! [biggrin]

 

That's quite brilliant. [thumbup]

 

If I was one of those people who put quotes in their Signature, that would certainly make it into mine. :rolleyes:

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Guest Farnsbarns

Rich: having abundant possessions and especially material wealth

 

The definition of "rich" implies excess. Being rich goes well beyond being "comfortable."

 

Excess is relative. We all (on here) have excess in that we have more than 1/7000000000th of the the resources the earth can produce in our lifetimes (our fair share with current population). It would never be possible to share out wealth equally across the entire population of the planet without people like you and me taking a hit on the comfort stakes. That makes us rich.

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