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grudk grudk is offline
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Join Date: Dec 2004
Location: Manhattan Beach
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Interesting quote from Wiki:

“ "When F. Scott Fitzgerald pronounced that the very rich "are different from you and me", Ernest Hemingway's famously dismissive response was: "Yes, they have more money." Today he might well add: much, much, much more money. The people at the top of America's money pyramid have so prospered in recent years that they have pulled far ahead of the rest of the population, an analysis of tax records and other government data by The New York Times shows. They have even left behind people making hundreds of thousands of dollars a year. Call them the hyper-rich."- David Cay Johnston, The New York Times.[37]


It's all relative. If you are an 'untouchable' in India, a lower middle class person in the US is 'rich.' If you hang out with billionaires and make 500K a year, you may feel 'poor.' I know a bloke who is probably worth a couple hundred million, who was whining about how his jet wasn't up to snuff with his peers. And another worth almost as much who lives in a modest two bedroom apt, lives like a middle class guy, and donates huge sums. Who is more 'rich?'

But if pressed for a number today, I would say someone in the US is 'rich' today if assets exceed 10 million. 1-10 million is 'mass affluent,' and less than that is 'middle class' (though clearly 'upper middle' if anywhere near one million in assets).
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Old 05-02-2008, 02:36 PM
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