Rich vs. Middle Class?
 

So what is rich? 1M, 2M, 3M of assets over and above home equity?
Middle Class? 100K, 200K, 300K of home equity and/or assets?

Rich is when you don't have to work any more, i.e., your conservative investments spin off enough income to easily pay all your bills and live off, and you don't have to touch the principal anymore.

Everyone else is working class.

+1

The wife and I label ourselves as 'mildly affluent'.

Well said...anybody who has "screw you" money is rich. That is to be able to say "screw you" to anyone. :D

A rich person is not one who has the most, but needs the least..

I opened this looking for a little class warfare. I am dissapointed.

Day ain't over yet.

Rich is not having to ask how much whether you buy it or not.

Simple as that!

Johhny Carson once said on the Tonight Show when asked about money, "gee, I never had to worry about money". I could'nt imagine that in a million years!!!!!!!!!!!
Thats rich.....................


Bob

I would consider this financialy secure, not rich. I have a family friend who lives on $1,200 in interest and about $800 in social security. Lives on property that's been in his family for generations in a manufactured home.

Retired, has a great life, (fishing and hunting) but not rich.

Sorry, but anyone who even thinks about this is not rich. Might have a bit of money.....

How do I say poor with wealth?

Peyton Manning is rich. The guy who signs his paycheck is wealthy.

On a global scale, anybody with a Porsche is extremely rich.

Plagiarist..that's a Chris Rock line

If ya ain't got 5 to 10 you ain't got *****...

I don't care how much money you have it ain't enough...."if I only had another 100M....everything would be OK." That's a quote from the elady who owned the Indianapolis Pacers.

You are correct, sir. And I have credited him in prior posts. Except I believe he said Michael Jordan (or was it Magic Johnson?)

Rich is of course, a relative term. My 11 year old daughter recently asked," Daddy, are we rich?" To which I answered, "well, compared to Bill Gates or Michae Dell, no, we're poor. Compared to people in third world countries, yes, we are fabulously wealthy."

Maybe it is about wanting what you have, not what you want. (acknowledgment to Sheryl Crow):p

In my book, you're rich if you don't know the colors of coin wrappers!!

Measure your wealth not by what you can buy, but rather by what you have that you would not sell at any price.


(Unknow origin, Tabs;))

What's a coin wrapper?

Not bad, not bad at all. Still, we are confusing rich with wealthy. AFAIK, wealthy is specific to money or abundance. I assume that is for tangibles.

What's a coin?

"In my mind, there is a difference between being rich and being wealthy. One is rich when one has enough capital to possess most everything one wants today and will need in the future. One is wealthy when one possesses enough capital to posses everything one would want today, and everything one will need in the future, and still have a great deal left over." ---John Succo

I'm wealthy because I dont NEED anything. I want a few things, but who doesn't. I see the rest of the world and wonder. Everyone on this board is wealthy beyond their hopes and wishes, and if not, sorry for them. You cant take it with you.

OOOPs...still wrong, Tabby. It was Shaq...here's the clip.

WARNING: Strong Language

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Opp's, sorry I'm not wealthy. Larry Bird is rich, but Herb Simon is wealthy. Jim Irsay, (owner of the Colts) is VERY F**KING wealthy, but the people of Indiana are a bit less.

Thanks for the promotion - I never considered myself as rich, but retired at 52 and between my investments and retirement check, my principal goes up, not down. Trouble is, I can't break those lifetime habits of pinching pennies - I guess Sam Walton was like that?

AND - I don't agree with excluding home equity in establishing net worth - Many of us have more than one home. Many of us have them paid for. In these "troubled times" I'd rather have that money in real estate than in the stock market right now!

Reminds me of a quote:
"I make myself rich, by making my wants few."

Rich is when you just do not have to work ever again, and still do everything you can dream of.
For me Rich is + $10M net worth with at least 1.5-2M liquid spendable accounts.:D

But I think most of us are pretty confortable since we have have a Pcar as a toy!SmileWavy

By these standards of owning a Pcar ... I'm rich ??? lollololololololo

lolo, a P car shouldn't be countable ;)

I'm sure there are many of you who make in 1 month that I make in 1 year :D
Do I care ??? not really :D
cause you could! and I couldn't !
I will just have to work harder to work less :)


I am rich in many ways ... just not in monetary terms ;)



+1 for the's definition

List all the things in your life for which no amount of money could buy, and you will reveal your true wealth.

You put two of them in a tavern pool table in these parts...

I guess I am rich by definition 6B and 6D (from Websters dictionary):


Main Entry:
rich Listen to the pronunciation of rich
Pronunciation:
\ˈrich\
Function:
adjective
Etymology:
Middle English riche, from Old English rīce; akin to Old High German rīhhi rich, Old English rīce kingdom, Old High German rīhhi, noun; all from prehistoric Germanic words borrowed from Celtic words akin to Old Irish rí (genitive ríg) king — more at royal
Date:
before 12th century

1: having abundant possessions and especially material wealth

2 a: having high value or quality b: well supplied or endowed <a city rich in traditions>

3: magnificently impressive : sumptuous

4 a: vivid and deep in color <a rich red> b: full and mellow in tone and quality <a rich voice> c: having a strong fragrance <rich perfumes>

5: highly productive or remunerative <a rich mine>

6 a: having abundant plant nutrients <rich soil> b: highly seasoned, fatty, oily, or sweet <rich foods> c: high in the combustible component <a rich fuel mixture> d: high in some component <cholesterol-rich foods>

7 a: entertaining; also : laughable b: meaningful, significant <rich allusions> c: lush <rich meadows>

8: pure or nearly pure <rich lime>
— rich·ness noun

You're rich!
 

Dude, you're rich!!

Me too! Definition 2b

I am poor.

We know the Chevette gives it away...:D:D

Unless it is a fully restored car with only 500 miles. Something you kept from new because you were the original designer for the car. Is that the case? SmileWavy

Rich people do not have fat wallets. They have assistents and accounts who pay for everything.

That hurt Wickd89. No nothing special about the car, I just like it.

Sorry. :(
Just kidding.. ;)
My family seem to own stock in Toyota Corollas so you see the humor.
5 years ago before I bought my current 3 cars, I was a consultant and was proud to drive an integra with 240K miles and no AC. Loved it..

A friend of mine got tired of the mileage of his Suburban, so now he comutes in a tercel (one mirror and rubber floor mats). He is over the moon at his new found economy..

Take care....SmileWavy