How much is "rich"?

[specklebang]

Yesterday, in another forum about the divide between rich and poor, I posted this statement:\

It's a serious problem for the rich.

They have to worry if their money is earning enough return. The have to keep up appearances. They have to make sure the Maybach and the Lear jet have leather that matches and isn't a different dye lot. They have to hire people to hire people to hire people to maintain multiple homes. They can't have real friends or trust anyone. No matter how many people the screw over they still can't be as rich as Carlos Slim, a Mexican.

I feel sorry for them. Their only real use is to keep all this excess money from causing inflation.

Most people took it for the light-hearted humor that it was intended to be but one poster went off on me, accusing me of being a LW radical who must have gotten this from "The Daily KOS" whatever that is.

So, first, I don't post other peoples thoughts here. If I write something it is original from the brain of Specklebang or I will put quotes around it or acknowledge the source.

Now the angry poster is a guy that has (pure guessing) 5 million dollars. He whines constantly about taxes (as if I gave a rat's ass about his taxes) and apparently he thinks he is rich. Yet he argued he didn't have a Lear Jet etc. so as far as I can tell, he's "well off" (and so am I) but hardly "RICH". So, my question is...how much money do you have to have to be viewed as RICH?

This is worth figuring out because there are soi many discussions about the "RICH" that we should establish a floor value.

Thoughts? Skip the politics please.

 

[The Man]

According to 274ina, $70,000 per year is Mega Rich, so I'm not really sure how much just plain old rich is?

 

[shlunka]

When you can buy a Ferrari, and paint it the ugliest color imaginable, just to show that you're so rich you don't care about your Ferrari.

 

[AlabamaPaul]

Yesterday, in another forum about the divide between rich and poor, I posted this statement:\

It's a serious problem for the rich.

They have to worry if their money is earning enough return. The have to keep up appearances. They have to make sure the Maybach and the Lear jet have leather that matches and isn't a different dye lot. They have to hire people to hire people to hire people to maintain multiple homes. They can't have real friends or trust anyone. No matter how many people the screw over they still can't be as rich as Carlos Slim, a Mexican.

I feel sorry for them. Their only real use is to keep all this excess money from causing inflation.

Most people took it for the light-hearted humor that it was intended to be but one poster went off on me, accusing me of being a LW radical who must have gotten this from "The Daily KOS" whatever that is.

So, first, I don't post other peoples thoughts here. If I write something it is original from the brain of Specklebang or I will put quotes around it or acknowledge the source.

Now the angry poster is a guy that has (pure guessing) 5 million dollars. He whines constantly about taxes (as if I gave a rat's ass about his taxes) and apparently he thinks he is rich. Yet he argued he didn't have a Lear Jet etc. so as far as I can tell, he's "well off" (and so am I) but hardly "RICH". So, my question is...how much money do you have to have to be viewed as RICH?

This is worth figuring out because there are soi many discussions about the "RICH" that we should establish a floor value.

Thoughts? Skip the politics please.

You're considered rich when someone else becomes jealous/envious of what you've accumulated...

 

[specklebang]

With all due respect AP, that is far too over simplified. There are plenty of people who think I am "rich" just because I own a bunch of rental properties. They actually say that to me (not unkindly) because they have nada and I have some money. But I'm looking for a real world number here and it sure;ly is not one or two or even five million dollars.

You're considered rich when someone else becomes jealous/envious of what you've accumulated...

 

[AlabamaPaul]

With all due respect AP, that is far too over simplified. There are plenty of people who think I am "rich" just because I own a bunch of rental properties. They actually say that to me (not unkindly) because they have nada and I have some money. But I'm looking for a real world number here and it sure;ly is not one or two or even five million dollars.

That was the point of my response. There is no single amount that can be assigned to the term "rich". It's all a matter of perspective...

 

[specklebang]

Why is nobody answering the question? I don';t care what 247Ina thinks unless they post here. As for damaging a Ferrari, that's stupidity, not wealth.

C'mon people. How about an amount. Thank you.

According to 274ina, $70,000 per year is Mega Rich, so I'm not really sure how much just plain old rich is?

When you can buy a Ferrari, and paint it the ugliest color imaginable, just to show that you're so rich you don't care about your Ferrari.

 

[specklebang]

Of course there is an amount. Otherwise, 98% of the conversations here will make no sense. When people complain about taxes on "the RICH", do they think that having $7,000 ijn the bank is rich? Getting $18 an hour? Obviously not.

That was the point of my response. There is no single amount that can be assigned to the term "rich". It's all a matter of perspective...

 

[AlabamaPaul]

Of course there is an amount. Otherwise, 98% of the conversations here will make no sense. When people complain about taxes on "the RICH", do they think that having $7,000 ijn the bank is rich? Getting $18 an hour? Obviously not.

To someone who is making $10/hour, the person earning $18/hour may be considered rich... :shock:

 

[The Man]

Why is nobody answering the question? I don';t care what 247Ina thinks unless they post here. As for damaging a Ferrari, that's stupidity, not wealth.

C'mon people. How about an amount. Thank you.

Well, $70,000/year is Mega Rich, so $30,000/year is rich, that's my guess.

 

[MaggieD]

Yesterday, in another forum about the divide between rich and poor, I posted this statement:\

It's a serious problem for the rich.

They have to worry if their money is earning enough return. The have to keep up appearances. They have to make sure the Maybach and the Lear jet have leather that matches and isn't a different dye lot. They have to hire people to hire people to hire people to maintain multiple homes. They can't have real friends or trust anyone. No matter how many people the screw over they still can't be as rich as Carlos Slim, a Mexican.

I feel sorry for them. Their only real use is to keep all this excess money from causing inflation.

Most people took it for the light-hearted humor that it was intended to be but one poster went off on me, accusing me of being a LW radical who must have gotten this from "The Daily KOS" whatever that is.

So, first, I don't post other peoples thoughts here. If I write something it is original from the brain of Specklebang or I will put quotes around it or acknowledge the source.

Now the angry poster is a guy that has (pure guessing) 5 million dollars. He whines constantly about taxes (as if I gave a rat's ass about his taxes) and apparently he thinks he is rich. Yet he argued he didn't have a Lear Jet etc. so as far as I can tell, he's "well off" (and so am I) but hardly "RICH". So, my question is...how much money do you have to have to be viewed as RICH?

This is worth figuring out because there are soi many discussions about the "RICH" that we should establish a floor value.

Thoughts? Skip the politics please.

"Rich" is a relative term. And "rich" is often just a lifestyle - not reality. One of the most affluent-looking people I know doesn't have a pot to piss in or a window to throw it out of. Right cars.... beautiful McMansion... name-brand handbags and clothing... wonderful vacations abroad... you get the picture. And they're one paycheck from broke. *shrug*

I think of "rich" in Bob Brinker's terms: what he calls "critical mass." Having enough money or assets in investments to live comfortably and take money out of the equation on one's list of worries. Regardless of whether or not one has a job. It's a wonderful feeling.

That "critical mass" is going to be different amounts for different people.

 

[penn1954]

Yesterday, in another forum about the divide between rich and poor, I posted this statement:\

It's a serious problem for the rich.

They have to worry if their money is earning enough return. The have to keep up appearances. They have to make sure the Maybach and the Lear jet have leather that matches and isn't a different dye lot. They have to hire people to hire people to hire people to maintain multiple homes. They can't have real friends or trust anyone. No matter how many people the screw over they still can't be as rich as Carlos Slim, a Mexican.

I feel sorry for them. Their only real use is to keep all this excess money from causing inflation.

Most people took it for the light-hearted humor that it was intended to be but one poster went off on me, accusing me of being a LW radical who must have gotten this from "The Daily KOS" whatever that is.

So, first, I don't post other peoples thoughts here. If I write something it is original from the brain of Specklebang or I will put quotes around it or acknowledge the source.

Now the angry poster is a guy that has (pure guessing) 5 million dollars. He whines constantly about taxes (as if I gave a rat's ass about his taxes) and apparently he thinks he is rich. Yet he argued he didn't have a Lear Jet etc. so as far as I can tell, he's "well off" (and so am I) but hardly "RICH". So, my question is...how much money do you have to have to be viewed as RICH?

This is worth figuring out because there are soi many discussions about the "RICH" that we should establish a floor value.

Thoughts? Skip the politics please.

I'd vote for $1 million since I make $12 per hour,

however I don't worry about such things.

Keeping up with the Jones is kinda stupid.

As long as we can have a roof overhead,

groceries in the cupboard & gas in the car.

then it's all good!

 

[specklebang]

How about if you use my OP as the target for defining rich and then translating that to an amount. Otherwise, my valid, thoughtful, useful, respectful question will just accomplish a bunch of snarkiness instead of a frame of reference for the endless discussions of "poor" and "rich"' on this board.

Well, $70,000/year is Mega Rich, so $30,000/year is rich, that's my guess.

To someone who is making $10/hour, the person earning $18/hour may be considered rich... :shock:

 

[AlabamaPaul]

"Rich" is a relative term. And "rich" is often just a lifestyle - not reality. One of the most affluent-looking people I know doesn't have a pot to piss in or a window to throw it out of. Right cars.... beautiful McMansion... name-brand handbags and clothing... wonderful vacations abroad... you get the picture. And they're one paycheck from broke. *shrug*

I think of "rich" in Bob Brinker's terms: what he calls "critical mass." Having enough money or assets in investments to live comfortably and take money out of the equation on one's list of worries. Regardless of whether or not one has a job. It's a wonderful feeling.

That "critical mass" is going to be different amounts for different people.

I would agree, and add, that time to enjoy and do what you like is the ultimate form of being "rich"...

 

[polgara]

You're considered rich when someone else becomes jealous/envious of what you've accumulated...

Good afternoon, AP. :2wave:

Yep! We seem to be living in an age of envy, all right. What does it accomplish besides giving the envious heartburn or worse? Nothing! The "rich" are still going to be rich, whether they earned it or inherited it, and I'm fairly certain that they don't waste much time thinking about whether or not it bothers some people! What a waste of time that would be better spent getting rich themselves! Look at the avid interest in people like the Kardashians, Paris Hilton, and others. They're very rich, but the public eats their exploits up! I guess the envy is only directed at people who acquire wealth by working for it! :screwy:

 

[AlabamaPaul]

How about if you use my OP as the target for defining rich and then translating that to an amount. Otherwise, my valid, thoughtful, useful, respectful question will just accomplish a bunch of snarkiness instead of a frame of reference for the endless discussions of "poor" and "rich"' on this board.

Again, it's a matter of perspective. If a person is constantly worried about their finances, they're not wealthy, just worried...

 

[AlabamaPaul]

Good afternoon, AP. :2wave:

Yep! We seem to be living in an age of envy, all right. What does it accomplish besides giving the envious heartburn or worse? Nothing! The "rich" are still going to be rich, whether they earned it or inherited it, and I'm fairly certain that they don't waste much time thinking about whether or not it bothers some people! What a waste of time that would be better spent getting rich themselves! Look at the avid interest in people like the Kardashians, Paris Hilton, and others. They're very rich, but the public eats their exploits up! I guess the envy is only directed at people who acquire wealth by working for it! :screwy:

Good afternoon pg. To me, true wealth is the state of being able to what one enjoys and having as much time and resources as possible to do so...

 

[The Man]

How about if you use my OP as the target for defining rich and then translating that to an amount. Otherwise, my valid, thoughtful, useful, respectful question will just accomplish a bunch of snarkiness instead of a frame of reference for the endless discussions of "poor" and "rich"' on this board.

Aww take it easy speckle, I'm just having fun with ya.

Rich is relative. Where I live, $200k per year would be rich. In New York City, or California, not so much, you'd be middle class.

What I consider rich is having enough money in the bank to be able to tell your boss to go **** themself if you have a bad week at work, and not have to worry about the consequences.

 

[polgara]

Again, it's a matter of perspective. If a person is constantly worried about their finances, they're not wealthy, just worried...

This came to mind, AP. "If you can actually count your money, then you are not a rich man." J Paul Getty

 

[specklebang]

Thank you for being the only person who answered my question without using existentialism as the basis.

Well, no wonder poster XX was incensed by my post. He has more than a million. So do I. I can't even imagine myself as RICH. I do consider myself any of the terms "well off", "financially secure" or financially independent. I consider rich to be assets of $100M or an income of over $1M. That's why I don't fel sorry for those overburdened "RICH" people who have all their peasants here crying for their tax cuts.

I don't have to or want to be rich (my definition, not the discount definitions of DP). I am perfectly happy and I own everything I want to own. I AM the ****ing Joneses. But rich? Rich is car elevators, multiple dwellings, servants, yachts, $1M cars etc. - and being easily able to pay for them, not using loans.

Having groceries and gas will not put you in the 1%.

One of my weirder personal experiences was in a watch store in the Forum Mall. I was buying a $300 watch. They were waiting on a customer buying a $23K Rolex - on a payment plan. Not rich, just pretentious and stupid.

I'd vote for $1 million since I make $12 per hour,

however I don't worry about such things.

Keeping up with the Jones is kinda stupid.

As long as we can have a roof overhead,

groceries in the cupboard & gas in the car.

then it's all good!

 

[specklebang]

Jeez. I feel like a grumpy old man.

My OP may have been humorous but it wasn't inaccurate. People I call rich actually do match the leather in the Maybach with the leather in the Lear. Yes, really.

I suppose as a Discount Philosopher I should be pleased with the responses. But I'm not. I wanted an amount and the only I got was $1M (thank you) which I don't at all agree with (but appreciate).

 

[MaggieD]

Jeez. I feel like a grumpy old man.

My OP may have been humorous but it wasn't inaccurate. People I call rich actually do match the leather in the Maybach with the leather in the Lear. Yes, really.

I suppose as a Discount Philosopher I should be pleased with the responses. But I'm not. I wanted an amount and the only I got was $1M (thank you) which I don't at all agree with (but appreciate).

Those people aren't rich. They're filthy rich.

 

[specklebang]

So, are you saying that if I have $300M but I fret about my money and my taxes I'm not rich?

Again, it's a matter of perspective. If a person is constantly worried about their finances, they're not wealthy, just worried...

 

[specklebang]

My Father adored Bob Brinker.

But I still think you're copping out on this topic.

"Rich" is a relative term. And "rich" is often just a lifestyle - not reality. One of the most affluent-looking people I know doesn't have a pot to piss in or a window to throw it out of. Right cars.... beautiful McMansion... name-brand handbags and clothing... wonderful vacations abroad... you get the picture. And they're one paycheck from broke. *shrug*

I think of "rich" in Bob Brinker's terms: what he calls "critical mass." Having enough money or assets in investments to live comfortably and take money out of the equation on one's list of worries. Regardless of whether or not one has a job. It's a wonderful feeling.

That "critical mass" is going to be different amounts for different people.

 

[AlabamaPaul]

Jeez. I feel like a grumpy old man.

My OP may have been humorous but it wasn't inaccurate. People I call rich actually do match the leather in the Maybach with the leather in the Lear. Yes, really.

I suppose as a Discount Philosopher I should be pleased with the responses. But I'm not. I wanted an amount and the only I got was $1M (thank you) which I don't at all agree with (but appreciate).

When asking subjective questions, you get subjective answers. In my case, I might be considered rich by many, but I have worked and saved to the point that I really don't care what anyone thinks. Now, I'm just enjoying myself and family...