What do you consider as 'Rich'?

[12vMan]

Re: What do you consider as 'Rich'?

I consider someone to be rich if they own a boat powered by multiple supercharged motors of over 500 cubic inches each (see the OSO - OffShore Only - forums).

If you're posting on this board, you aren't rich ......

lol, true! and thou must never judge a person by how many pistons they have

 

[bruceb58]

Re: What do you consider as 'Rich'?

I do know people that are rich at least by what I think are rich. They also seem to be the people that also never brag about how much they make, they don't brag about how many rental properties they are buying or how they make or spend their money.

The ones that make you want to know they are rich are the ones that you see getting their houses foreclosed(not counting those that lose their jobs) on because they overspend and don't know how to manage living a reasonable lifestyle.

This recession has taught people a lot. Live within their means and realize that money isn't everything in life and don't try to keep up with the Joneses.

 

[45Auto]

Re: What do you consider as 'Rich'?

Another quick way to determine if you're rich or not is to compare your boat to the others in the marina. If your boat is the biggest one there, you're rich. If your boat isn't big enough to carry a smaller boat inside as a tender, you ain't even close (tender for the Octopus is 63')! See example below:

More pics of Octopus here (it isn't the biggest now though):

http://seafever.files.wordpress.com/2007/10/megayacht-octopus.pdf

 

[642mx]

Re: What do you consider as 'Rich'?

The ones that make you want to know they are rich are the ones that you see getting their houses foreclosed(not counting those that lose their jobs) on because they overspend and don't know how to manage living a reasonable lifestyle.

Yep... I seen this with a good friend of mine. He bought (financed) a brand new Chevy truck. He told me how he put X number of dollars down and how his payment was X a month and how he was going to pay it off in X number of years......... 28 days later, he asked to borrow $500 so he could get license plates for it.

He had his whole monthly budget figured out to the closest dollar.... but wasn't smart enough to figure out that we constantly get bills for plates, insurance, etc... If my friend lost his job, he would be living in his truck until it got repossessed.

 

[Robbabob]

Re: What do you consider as 'Rich'?

Thinking from the $$$ perspective:

People that make $20K think the $50K peeps are rich, those making $200K think the $500K are rich, and so on.

Rich is having everything paid off, money in the bank and retirement set up.... might be the $20K family more than the $500K!

singing, "If I had a million dollars...."

Woman that loves me and healthy children.

 

[korygrandy]

Re: What do you consider as 'Rich'?

Rich is the name of my uncle.

 

[dingbat]

Re: What do you consider as 'Rich'?

I consider someone to be rich if they own a boat powered by multiple supercharged motors of over 500 cubic inches each (see the OSO - OffShore Only - forums).

So....you have to be a redneck to be rich?

 

[skargo]

Re: What do you consider as 'Rich'?

So....you have to be a redneck to be rich?

LOL, that cracked me up!

This is a great thread, with many great, and some not so great opinions

I also agree people that brag about having a lot of rentals, or vacation homes, or new cars paid for with cash typically aren't rich.

 

[jonesg]

Re: What do you consider as 'Rich'?

Money does make me happy. For others it may be donuts, a comfortable chair, or a nice lawn. Having money in the bank puts a smile on my face...

Sure me too but I'm already happy, so not having money wouldn't affect my happiness. Its just part of the bigger picture.

 

[jonesg]

Re: What do you consider as 'Rich'?

Rich is having the means to buy anything you want, I think very few people can do that...

It depends on where the emphasis is placed between wants and needs.

Its not how much money we have, its how much value we place on it.

 

[642mx]

Re: What do you consider as 'Rich'?

I also agree people that brag about having a lot of rentals, or vacation homes, or new cars paid for with cash typically aren't rich.

I think we can all agree, that each and everyone of us could be considered rich by some, and poor by others...

Now.... which one of you rich people have a time share or a condo I can rent at LOTO next summer?

 

[FBPirate95]

Re: What do you consider as 'Rich'?

Rich is when you don't have to talk or think about money. Depending on the person, that could be $50K a year or $10 million a year.

 

[45Auto]

Re: What do you consider as 'Rich'?

Lots of people seem confused in this thread between "happiness", "security", "rich", etc.

Luckily the SEC (Securities and Exchange Commision) has defined "rich" for you guys, at least here in the US.

Do you want to own a hedge fund? If so, you have to be a "HNWI" - High Net Worth Individual - in other words, RICH!

A HNWI (otherwise known as "rich") according to the SEC is someone who has 2.5 million in liquid assets.

Are you rich? The definition of rich in the Oxford American Dictionary is ?having a great deal of money or wealth.? But then, how much is a great deal?

Unfortunately, the new definition of rich ? a net worth of $2.5 million (excluding home and business equity) ? applies to just 1% of the American population.

http://www.investmentu.com/2007/June/20070607.html

So another easy way to determine if you're rich or not is to go try to start your own hedge fund.