Are YOU rich>? What IS rich?
 
 

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Are YOU rich>? What IS rich?

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    08-12-2012, 11:00 PM
  #1
Super Moderator
Are YOU rich>? What IS rich?

People talk about wealth and say someone is "rich", but it's a very relative term. My mom , to me , is rich, but she would never call herself rich.
I sometimes call myself rich, because I can spend 20 on lunch for myslf and a friend and it's no big deal at all.

What is rich to you? For example's sake, What annual income for a family of four would be enough for you to call them "rich"?

70,000K$ 120K? 200K? ?
     
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    08-12-2012, 11:33 PM
  #2
Weanling
Oh gosh, that's hard to say really. There are three people in my household...myself, hubby, and our 4 year old daugther. Our annual income is around $150,000. I definitely don't see ourselves as rich. Although, where I live, that is certainly a lot of money. I live in Mississippi, so the cost of living is very low. If you were to see us out and about or visit my home you wouldn't think "wow, they have money". The median income for my area is $26,000 so compared to that then I'm sure most people would consider us rich. I certainly don't.
     
    08-12-2012, 11:34 PM
  #3
Green Broke
To me, all those incomes would classify as "rich". It translates that they can pay their utilities, have vehicles, keep a roof over their head, eat a chosen diet, & have some disposable income while also contributing to some savings.
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    08-12-2012, 11:46 PM
  #4
Foal
I agree with Cacow girl. To be able to pay your bills, and have some left over for investing and/or saving. This requires living below your means, when possible.

Look at some of those celebrities making millions of dollars but mismanage their money and end up being sooo much in debt. They make more money then I probably will ever see , but I don't consider them rich if they still can't keep their head above water. IMHO
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    08-13-2012, 12:09 AM
  #5
Super Moderator
.

Depends on the area of the country, taxes and utilities can be 2,3,4 times as high in some States.

70k per year for a family of 4 can pay for a decent house (in some areas of the country), cars, utilities and have money to save.
But in the same respect if that family wanted a 600k house, 2 brand new expensive cars, a boat and to eat out 5 night a week, 200k per year might leave them less money to save than the 70k per year family that was frugal with their money.

Because it has become a society of lets keep up with the "jones's" no one is ever "rich enough"

Somewhere I read in a study that the poorest in this Country are Richer than 90% of the worlds population.

I agree Rich is a very relative term.

.
     
    08-13-2012, 12:14 AM
  #6
Weanling
To me it depends on perspective....as I look around & see heart ache in the world, people choosing to feed their family instead of buy their medication, dieing in sweltering houses because they can't afford to turn on the AC, sending their children to school in clothes 3 sizes too small ..I feel lucky & blessed by the good Lord above for children, health, a home, a job, food, clothes, friends, a loving family, pets both large & small...then I would say yes, I am rich..philosophical...maybe but I am not in to chasing the almighty dollar
     
    08-13-2012, 12:19 AM
  #7
Trained
If you add up what we own in the way of land, machinery, and especially the crop in the ground, then we could be classed as rich, but BUT BUT, we have to get that crop to ripeness and safely in the bin before I can count that.

So at the moment we are poor, as in we have no cash, I broke a tooth of at gum level last night, right in the front, and apart from my dental phobia, I don't know if I can afford to have anything done with it.

I need to raise enough cash to get diesel in the tanks so we can harvest, but then for the first time ever there are no advances to be paid off from the harvest, just the normal bills, so I'm crossing everything that we at last break through the barrier this year, and we will actually feel well off.

On the other hand, the fact that I have all teh hay I need baled and in the yard makes me feel rich.
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    08-13-2012, 12:25 AM
  #8
Green Broke
Rich can be so many different things.. Rich to me isn't just about money.. Rich to me is being able to afford your animals, any kind of entry fees, take care of your wants, your family, fun stuff.. but always being humble enough to share if needed. I could have all of the money in the world and be unhappy. Money can't buy happiness (Yes it buys horses and such) but without people in your life and happiness from being successful in the things you want to do and be able to live comfortably.. That is rich to me. There are different things you can be rich in and I'd rather be "rich" in a good life with my animals, people I love, things I own and can appreciate more so than just having so much money that it's "just another thing".. I'd rather work hard and have to save for things than to just live life easily..Even though it'd be great! I'm not denying that... I'd just chose being rich in other ways than being financially rich, but that's just me.
     
    08-13-2012, 12:56 AM
  #9
Trained
Justin Wilson, a famous Cajun comedian said, "A rich Cajun is one who makes more than he can spend in one day.". Guess I'm not rich.....probably never will be by that definition, cos I can SURE spend it!
     
    08-13-2012, 07:22 AM
  #10
Showing
"Rich" is a very relative term.

We own a house, several cars (everyone commutes to work so one car for all would not work, and unfortunately it's extremely expensive to buy anything decent close to DC), and I have cats, dogs, and 2 horses (I keep in my own place). It took years of hard work and savings to get where we are, and in no way I'd consider us "rich" (we always try to live by what we can afford). However for those who can only afford to pay for rent, utilities, and food, we probably are "rich".
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