How much $$$ does it take to feel rich

[infamousdiz]

Like the title says what dollar amount would you feel rich?

My answer would be to net a 1 million a year but i feel that my lifestyle would just reflect my income and i would be "poor" in term of disposable because of my large overhead. like the saying goes the more you make the more you spend. reading an article once it said " rich people have to the money problems the poor does but their problems are very expensive. agree or disagree

[jtodd_fl]

Originally Posted by infamousdiz

Like the title says what dollar amount would you feel rich?

My answer would be to net a 1 million a year but i feel that my lifestyle would just reflect my income and i would be "poor" in term of disposable because of my large overhead. like the saying goes the more you make the more you spend. reading an article once it said " rich people have to the money problems the poor does but their problems are very expensive. agree or disagree

Agree, if we are defining "rich" the way I believe you are. The specific answer to your question, "how much money will make you feel rich" is this: more than you have. Alternatively, the answer may be: no amount will.

Exceptions may be for young people who aren't the ones earning it. I suspect many of them feel rich. I cannot speak to this, though.

[McBride]

To me being rich is have enough Income to live a comfortable life without financial worry.

Eg. Being able to go shopping on a weekend or out for a meal without worrying over affordability.

However like you say, many people today are greedy (myself included) and will never be rich. As earning increase so does spending, so instead of worrying if You can afford the payment on a BMW you'll be worrying if you can afford the payment on a Ferrari.

[Axius]

Honestly, I would feel rich with a net worth of $500k. It's not a ridiculous amount of money, but I know I probably wouldn't buy a house much larger than what I have now because it would be pointless. The only thing I could see myself actually spending money on would be a nice weekend car and some guns.


Right now I feel comfortable and content. There's some burdens that could easily be lifted even with just a 50% salary increase from where I'm at now, but it'd be far from "rich". However, like McBride stated, I feel rich in the fact that I have the lifestyle I do at my age and that's a blessing in itself.

[RickFLM4]

A high enough net worth to invest safely and conservatively to know I'd never need to work again (unless by choice), enjoy a very comfortable lifestyle and not worry about what happens in investment markets. That is probably at least $5M and probably closer to $10M in a low interest rate environment.

Unlike Obama who thinks $250K in income = rich, I don't think high income alone makes one feel rich. I think it's more about net worth, financial flexibility and having options in life.

[mojobmw_e90]

Well for someone who makes 50k a year and owns a condo, owns a car, sending his fiance through college, I feel like anything North of 250k a year would be completely fine with us. Like others have said, the more you make the more you want to spend, but I'm just looking to pay off debt, make a wedding, remodel the condo, but non of this is possible with the amount of money I make.

[jtodd_fl]

Originally Posted by RickFLM4

(shortened) I think it's more about net worth, financial flexibility and having options in life.

This. But I think the bar continue to move as you near it - for most people.

[Mondolemite]

Originally Posted by jtodd_fl

This. But I think the bar continue to move as you near it - for most people.

This, for sure.

[fravel]

I'll feel pretty confident in my financial situation once my student debt is gone. As long as that exists I will feel like a bum.

[Needbmwpartzz]

50 billion....I will feel very rich!

[MKSixer]

I'm going from memory here so please bear with me...

Statistically there are 3 crossover points for financial well-being. (Household income.)

The first is $75,000 or so. At this point, for the average American, most things are comfortable and within reach. (This is not for the BMW/Lexus/MBZ crowd. Think middle America.)

The next crossover point is roughly $150K-160K. This is where most of the luxury consumption begins. Nicer cars, McMansions, etc.

The final is the window above $325K to $350K is the point that money is all functionally the same.

Please keep in mind that these figures are for the average American. These figures do not apply to the scion of a wealthy family worth gazillions for whom $75K would be the equivalent of a death sentence.

Cheers-mk

[Wolf 335]

When you can buy things without checking the price, then you are rich.

Simple as that.

[Verbiage]

Originally Posted by Axius

Honestly, I would feel rich with a net worth of $500k. It's not a ridiculous amount of money, but I know I probably wouldn't buy a house much larger than what I have now because it would be pointless. The only thing I could see myself actually spending money on would be a nice weekend car and some guns.


Right now I feel comfortable and content. There's some burdens that could easily be lifted even with just a 50% salary increase from where I'm at now, but it'd be far from "rich". However, like McBride stated, I feel rich in the fact that I have the lifestyle I do at my age and that's a blessing in itself.

Substantive post.

[gtron]

I think when you start hitting billions you don't have to quite think about your current spending anymore. It's more retaining your wealth for future generations of your bloodline.

When I'm planning three or more generations down rather than this lifetime, I believe I would "feel" rich.

[TomD335xicoupe]

Rich is when the government takes none of your income because you make more than everybody else and your special. That being said, You know the feeling when you already bought all the shit for your car and have nothing to search for bargens and deals to buy for the car, I hate that, so I am glad to keep the struggle alive, not that I have ever been even remotely close to "RICH" I don't think I would enjoy having everything I want at my finger tips , just seems like it would be boring. Conversly i do play the lottery but funny thing is i only play the pick three, prizes are about 500/1 never play the mega jackpot games.But to each his own.

[Darkfox2002]

I think in order to feel rich it wouldn't be an exact number amount, I would feel rich if my expenses are less then 25% of my after tax income. The amount of income isn't whats important if I can have a nice house and nice car and all that cost less then 25% of my income then I would feel rich no matter how much i'm making a year.

[Never Convicted]

I don't ever want to "feel" rich. The rich are people who make/have more financially than me. The poor are people who make/have less than me. So I just bang it out. I work, I learn, I compete, I succeed, I fail...and have done that at higher and higher reward levels my whole career. Not to brag or anything, but I drive a BMW!

So if I'm rich, maybe I back off what I've always done. Then who the hell would I be? Wait, I know...Batman. If you can, always be Batman.

[dreamingat30fps]

Originally Posted by Wolf 335

When you can buy things without checking the price, then you are rich.

Simple as that.

If this is true I'm rich at the grocery store and chipotle, but a poor bastard down the street at the car dealer.

[nholmes]

This might help:

[Delta0311]

A shit ton more than I got right now..

[BMW F22]

It's a matter of perspective. It depends on where you live too. a person in third world country can feel rich and happy making $200 a year compared to someone making $200k here and has lots of expenses.

One example I have is that when I quit my job a while back and traveled around, I was a bit worried as I didnt have anything lined up. But as I sat there in the middle of Siena's town square with a glass of red Italian wine, I truly felt like the richest man in the world.

[jgoens]

On a nice day with the car shiny clean, running like a champ, with my son in the back smiling as the wind blows on his face as we cruise along one of the great back roads to drive here in the bay area, then, I feel rich.