What’s your definition of being rich?

[Alex_angel]

I see the word Rich being thrown around and wonder what do you consider being rich. Does driving a BMW and carrying a $2500 LV purse make you rich? Does living in a $1.3 million dollar Derby hill home make you rich?

Neither are true. A receptionist at my work makes about $14 an hour and is stretched thin and barely makes the payment on her new BMW and real LV purse.

I have a firend who’s family income is about $100k per year and they live in Derby Hill.

Somehow we associate living in certain areas and being rich as the same.

Sure living in RSF or even Fairbanks would give you the rich status but again I know someone who’s not rich, is making about $120k per year and lives in RSF.

Even most football players aren’t rich. Maybe the top 10 guys on the team get millions but the bench warmers get the min $250k salary. Where I work we have the most useless execs that make more.

My old manager bought his CV home about 8 years ago for a few hundred thousand and now the house is worth over a million. I wouldn’t consider him rich since he makes about $80k a year and his wife stays at home.

What is being rich these days. A million dollars net worth? A million dollars in cash? Owning a Range Rover? Shopping at Whole Foods? Eating at Georges?

[New_Renter]

According to the SEC, your rich if you have a $5M Net Worth (not including personal residence). At that level you are considered a “Qualified Purchaser” and can legally invest in Venture Capital funds.

[New_Renter]

According to the SEC, your rich if you have a $5M Net Worth (not including personal residence). At that level you are considered a “Qualified Purchaser” and can legally invest in Venture Capital funds.

[New_Renter]

According to the SEC, your rich if you have a $5M Net Worth (not including personal residence). At that level you are considered a “Qualified Purchaser” and can legally invest in Venture Capital funds.

[New_Renter]

According to the SEC, your rich if you have a $5M Net Worth (not including personal residence). At that level you are considered a “Qualified Purchaser” and can legally invest in Venture Capital funds.

[New_Renter]

According to the SEC, your rich if you have a $5M Net Worth (not including personal residence). At that level you are considered a “Qualified Purchaser” and can legally invest in Venture Capital funds.

[Anonymous]

Alex,I’ve heard “rich” defined as not having to work for your money but being in the position of your money working for you.

Sounds good to me.

[Anonymous]

Alex,I’ve heard “rich” defined as not having to work for your money but being in the position of your money working for you.

Sounds good to me.

[Anonymous]

Alex,I’ve heard “rich” defined as not having to work for your money but being in the position of your money working for you.

Sounds good to me.

[Anonymous]

Alex,I’ve heard “rich” defined as not having to work for your money but being in the position of your money working for you.

Sounds good to me.

[Anonymous]

Alex,I’ve heard “rich” defined as not having to work for your money but being in the position of your money working for you.

Sounds good to me.

[an]

Personally, rich = financially independent = retirement. That doesn’t mean that they don’t work, it just mean they can quit anytime and still be able to live their current life style. It also means when your $ is working for you and not you’re working for your $. I think someone who have a monthly expensive of $2k, a modest job and $1M in the bank, which is more than enough for them to just live off the interest, is richer than someone who have $10k/month expense making $200k/year but not much in saving.

[an]

Personally, rich = financially independent = retirement. That doesn’t mean that they don’t work, it just mean they can quit anytime and still be able to live their current life style. It also means when your $ is working for you and not you’re working for your $. I think someone who have a monthly expensive of $2k, a modest job and $1M in the bank, which is more than enough for them to just live off the interest, is richer than someone who have $10k/month expense making $200k/year but not much in saving.

[an]

Personally, rich = financially independent = retirement. That doesn’t mean that they don’t work, it just mean they can quit anytime and still be able to live their current life style. It also means when your $ is working for you and not you’re working for your $. I think someone who have a monthly expensive of $2k, a modest job and $1M in the bank, which is more than enough for them to just live off the interest, is richer than someone who have $10k/month expense making $200k/year but not much in saving.

[an]

Personally, rich = financially independent = retirement. That doesn’t mean that they don’t work, it just mean they can quit anytime and still be able to live their current life style. It also means when your $ is working for you and not you’re working for your $. I think someone who have a monthly expensive of $2k, a modest job and $1M in the bank, which is more than enough for them to just live off the interest, is richer than someone who have $10k/month expense making $200k/year but not much in saving.

[Author]

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