[zx10guy]

On the topic of what one drives being indicative of one's wealth. Taking a drive on Rt 193 Georgetown Pike in McLean/Great Falls VA is definitely an eye opener. Among huge multi million dollar mansions, many times you'll see Ferrari's and the like parked right along side Toyota Camrys, Honda Accords, etc.

[flybigjet]

I'm curious- what annual salary (gross) is considered "rich" nowadays?

I think there's a LOT of perceptive differences there.

R.

[dinonz]

Originally Posted by flybigjet

I'm curious- what annual salary (gross) is considered "rich" nowadays?

I think there's a LOT of perceptive differences there.

R.

Why not start by telling us what you think?

[gatorfast]

Originally Posted by dinonz

Yeah - and then there's the people on BMW forums advertising that they drive a Porsche. Who would do that?

lol what? I have a pic of a car in my avatar and that's "advertising"?

Guess I should have stated that I could afford to buy my car in cash (as well as my 8 figure home, yacht, and jet) but I would rather use leverage so I could invest my cash in Bitcoin and GameStop. Just want to be clear on that - I have a ton of cash and I make a lot from my lucrative investments. I'm very wealthy and humble. Oh, also I'm extremely handsome with a huge peen too. Didn't want to forget that part.

[dinonz]

Originally Posted by gatorfast

lol what? I have a pic of a car in my avatar and that's "advertising"?

Guess I should have stated that I could afford to buy my car in cash (as well as my 8 figure home, yacht, and jet) but I would rather use leverage so I could invest my cash in Bitcoin and GameStop. Just want to be clear on that - I have a ton of cash and I make a lot from my lucrative investments. I'm very wealthy and humble. Oh, also I'm extremely handsome with a huge peen too. Didn't want to forget that part.

It's hardly keeping it hidden is it?

I just enjoyed the irony of someone laughing at people bragging while subtly bragging themselves. But as for the rest - don't try get a job writing comedy. Stick to flipping burgers

[gatorfast]

Originally Posted by dinonz

It's hardly keeping it hidden is it?

I just enjoyed the irony of someone laughing at people bragging while subtly bragging themselves. But as for the rest - don't try get a job writing comedy. Stick to flipping burgers

It's a picture of a car on a car forum....

But anyway, please get back to enjoying your spoils! I will do the same.

[dinonz]

Originally Posted by gatorfast

It's a picture of a car on a car forum....

But anyway, please get back to enjoying your spoils! I will do the same.

And a picture is worth 1000 words...

[flybigjet]

Originally Posted by dinonz

Why not start by telling us what you think?

I think that as I get older, my perception has changed.

Which is why I asked the question.

When I was a kid, I thought a million dollars was an almost unimaginable amount.

Now? Maybe not so much.

R.

[dinonz]

Originally Posted by flybigjet

I think that as I get older, my perception has changed.

Which is why I asked the question.

When I was a kid, I thought a million dollars was an almost unimaginable amount.

Now? Maybe not so much.

R.

Same - but when I was a kid, a million dollars *was* a big thing. Today, with inflation etc. it's not quite so special.

[M_Six]

Originally Posted by flybigjet

I think that as I get older, my perception has changed.

Which is why I asked the question.

When I was a kid, I thought a million dollars was an almost unimaginable amount.

Now? Maybe not so much.

R.

When I was a kid (late-60's/early 70's), my Dad took us to see a house that was selling for $100k. He wanted to see what size house went for $100k. It was a nice brick colonial that was on oceanfront property in an exclusive area in Hingham, MA called World's End. The house would sell for at least $2mil nowadays. Dad bought the house we grew up in for $12k in 1958 and sold it for $240k in 1994. Those houses go for $400k these days.

The point being, $1mil isn't chump change, but it isn't what it used to be.

[911r]

Originally Posted by flybigjet

I'm curious- what annual salary (gross) is considered "rich" nowadays?

I think there's a LOT of perceptive differences there.

R.

Depends on where you live...a sustainable salary in the Bay Area could quantify as 'fuck you money' in middle of nowhere Iowa.

[qba335i]

Originally Posted by flybigjet

I'm curious- what annual salary (gross) is considered "rich" nowadays?

I think there's a LOT of perceptive differences there.

R.

I would say $150k a year per person with no debt gives you a very comfortable lifestyle. For every kid add 50k.

Single => 150k
Family of 4 => 300k (parents) + 100k ( 2 kids) = 400k.


To be considered rich you need go get to 10M+ net worth.

[Mosaud1998]

Originally Posted by qba335i

I would say $150k a year per person with no debt gives you a very comfortable lifestyle. For every kid add 50k.

Single => 150k
Family of 4 => 300k (parents) + 100k ( 2 kids) = 400k.


To be considered rich you need go get to 10M+ net worth.

Looks like I'll pass on having kids

[NorCalAthlete]

I'm a Senior Director of Strategy & Planning for Netscape.

[evil-G-nius]

Originally Posted by zx10guy

On the topic of what one drives being indicative of one's wealth. Taking a drive on Rt 193 Georgetown Pike in McLean/Great Falls VA is definitely an eye opener. Among huge multi million dollar mansions, many times you'll see Ferrari's and the like parked right along side Toyota Camrys, Honda Accords, etc.

I lived in one of the richest counties in NJ for a while and its funny, the amount of money that is there you mostly saw SUV's. Many people had other cars that they didn't drive much...exotics and rare classics. When I lived in LA, Bentley GT's were like Civics...they were everywhere and common AF. I live in the North Bay now and up here pretty much the same can be said for the Tesla Model S. We have a population of older people up here that have a lot of restored classics & some exotics here and there. My point is everywhere has a "money bags" population but that is no real indicator of wealth as many people here said. I mean in LA I can almost bet that a good percentage of the exotics you see are actually being rented

[sygazelle]

Originally Posted by hubbahubba

Fungible, as in this for that. Interchangeable. Can be liquid or hard. Real Estate, cash, stocks, gold, bitcoin, an ongoing business, etc... You pick what kind of asset you wish to have. As for how it's related, he asked how rich people on this forum are. Rich is net worth to me, at least in a monetary way, which is how I believe the question was intended. Did you read it another way? I am rich with love, too, but that's not a question in this thread.

And thanks for the econ lesson... Glad you are here to fix what ails me.

There are assets which are fungible, but that has nothing to do with the OP's question. And, btw, real estate and businesses are certainly not fungible.

Secondly, I have no interest in teaching you anything. I was simply responding to your comment. That is what we tend to do here. Peace out and good night.

[JReis]

I would say I’m very rich. I have a beautiful and smart wife, three lovely children, a sweet mother who lives with us, and a cat who won’t leave me alone. We have jobs we love. We have a warm, loving home. And for my 50th birthday I got the nicest car I’ve ever owned after driving practical cars for my whole life. We can afford the things we need and most of the things we want. We’ve stayed employed during one of the roughest years in the last several decades.

I’d say I’m pretty damn “rich”, but I’m not wealthy.Or, maybe it’s the other way around. ��

[jsf721]

You are rich if you have enough $ for what you need and a little exta for the wants. You need enough to give you peace of mind and enough close relationships to give your soul peace in this crazy world.

[Sara]

Originally Posted by zx10guy

On the topic of what one drives being indicative of one's wealth. Taking a drive on Rt 193 Georgetown Pike in McLean/Great Falls VA is definitely an eye opener. Among huge multi million dollar mansions, many times you'll see Ferrari's and the like parked right along side Toyota Camrys, Honda Accords, etc.

Ha! I took that route every week to my girlfriends house in Herndon. I lived in Bethesda for 3 years. I recently drove through it 01/31/21, so beautiful covered in snow.

[Sara]

Originally Posted by Mosaud1998

Looks like I'll pass on having kids

They think you're an endless piggy bank but the kisses and hugs at the end of the day make it worth it

[MKSixer]

Originally Posted by qba335i

I would say $150k a year per person with no debt gives you a very comfortable lifestyle. For every kid add 50k.

Single => 150k
Family of 4 => 300k (parents) + 100k ( 2 kids) = 400k.


To be considered rich you need go get to 10M+ net worth.

I agree with the the basic concept but I'd adjust the numbers, somewhat. And there would definitely be geographical adjustments necessary based on cost of living in that area.

I'd say single, 200k because of onerous tax obligations and 375k for a couple with 1 kid. Depending on their hobbies, I'd add 50-75k per kid. Mine did ballet and piano which was expensive and migrated to martial arts which isn't.

And now private school. I did 14 years including pre-k and k for our 1 daughter which cost a small fortune. Now add travel, events, etc.

And to be rich I'd say 10M+ of net worth doesn't tell the story. 5M+ net worth + a consistent cash flow of 500k per year get's you to the bottom rung.

[Our03z4]

Originally Posted by Sara504

I have a daughter and three horses. I’m broke forever

You sound like my wife. She has 3 horses and all of which are boarded, I feel your pain. Add in all the horse shows and new trailer, the truck to pull it plus the endless little this and that's and it would be cheaper to own a plane. Oh well, keeps her happy and she never complains about what I spend.

We make about 170k but our house (previous foreclosed house we gutted) is only $575 a month and we have no kids. I have 7 cars and all but one is paid off and the newest is an 2011 with low miles. Could I afford something nicer, sure, but I like older cars and enjoy working on them. I've always thought about selling them all and buying something newer and nicer, would love a Evora, but I never actually pull the trigger. Plus I like the fact that if something ever happened I know we can just off load them.