I worked for a man in the early 80’s who was very determined to become wealthy. He talked about money and wealth quite a bit, and after much though he arrived at the figure of $20 million dollars in net worth as “wealthy.” He defined wealth as never having to worry about money again.
This was a very serious thing to him.
Of course, that was twenty plus years ago, so would you have to say $30 or $40 million now?
My former employer, by the way, has outdone himself, and is certainly worth more than $100 million now.
For me personally we have no debt except a year left to pay on our Saturn and a modest 15 year fixed mortgage. That makes me feel wealthy.
