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Quick Navigation Bottom Misc
Forum ยป What net worth do you classify as "rich"?

View Poll Results: Net worth

Voters: 47.
$100k+
2 4%
$2.5M+
14 29%
$100M+
7 14%
$10M+
10 21%
$1M+
2 4%
$500k+
2 4%
$5M+
10 21%
  1. Results 1 to 24 of 24
  2. Page 1 of 1

Thread: What net worth do you classify as "rich"?

post 1694885903 12-14-2023, 11:47 PM
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#1
  1. Luc1fer
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What net worth do you classify as "rich"?

poll
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post 1694885963 12-14-2023, 11:50 PM
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That's entirely dependent on location. Rich in NYC and rich in some rural middle of nowhere town in Idaho are two very different things. But probably something like $2.5 mil overall.
post 1694885983 12-14-2023, 11:51 PM
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Originally Posted By Luc1fer⏩
poll
According to the French economist Thomas Picketty, in the US to qualify as top 1% we're talking 6 mil net worth excluding primary residence. Reason you would exclude that is because we want to focus on people who can throw their wealth around to influence policy without going into debt.
post 1694886043 12-14-2023, 11:56 PM
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Enough to retire on and speak out without any care. In today's economy, closest thing on that poll is $2.5m. Produces an above average income if invested - $150k/yr assuming 6% return. More than enough to retire off of.

$5m might be more accurate by 2050 and beyond though, due to inflation and such.
post 1694886093 12-14-2023, 11:59 PM
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Originally Posted By GarfieldTheCat⏩
That's entirely dependent on location. Rich in NYC and rich in some rural middle of nowhere town in Idaho are two very different things. But probably something like $2.5 mil overall.
age too...not really fair to compare someone age 32 to someone age 68.
post 1694886653 12-15-2023, 12:44 AM
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post 1694886663 12-15-2023, 12:44 AM
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Location is significant.

In my area? I consider 2.5m net worth to be wealthy.

In certain areas of CA, people can have a 2.5m house they paid 200k for years ago.
post 1694886793 12-15-2023, 12:57 AM
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Originally Posted By ooph⏩
Location is significant.

In my area? I consider 2.5m net worth to be wealthy.

In certain areas of CA, people can have a 2.5m house they paid 200k for years ago.
Sure, maybe 30 years ago.
post 1694886803 12-15-2023, 12:58 AM
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100 million+
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post 1694886823 12-15-2023, 01:02 AM
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It's not a specific dollar amount.

Rich is being able to live where you want and do the things you want without ever worrying about your money running out nor having to work another day in your life if you don't want to.

Wealthy is the above but for your entire lineage for the rest of eternity.
post 1694887933 12-15-2023, 02:16 AM
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Depends on your age too I think, not just location.

$5M if you're 60-70 and you're probably set for life.

If you have $5M and you're 30, you'd still have to work unless you wanted a minimalist life and not going crazy on holidays and experiences. You'd still have to somewhat budget if you never wanted to work again.


I voted $5M though. Enough for a nice size house, no mortgage, some reliable cars and enough for investments to be paying a nice dividend.
post 1694888023 12-15-2023, 02:20 AM
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Originally Posted By 6gorillion⏩
Sure, maybe 30 years ago.
Good guess. 25 years ago we paid $400K and now it's worth $2 million.
post 1694888123 12-15-2023, 02:29 AM
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Originally Posted By DustinTheHuss⏩
Good guess. 25 years ago we paid $400K and now it's worth $2 million.
Didn't you say you were divorced and dealing with an ex-husband who intentionally tries to poison your kid's mind against you? Now you're saying you bought a house with a man and have lived there with him for 25 years? Your stories are all over the place.
post 1694888233 12-15-2023, 02:34 AM
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Originally Posted By eddiehaskell⏩
age too...not really fair to compare someone age 32 to someone age 68.
Originally Posted By LexBrah⏩
Depends on your age too I think, not just location.

$5M if you're 60-70 and you're probably set for life.

If you have $5M and you're 30, you'd still have to work unless you wanted a minimalist life and not going crazy on holidays and experiences. You'd still have to somewhat budget if you never wanted to work again.


I voted $5M though. Enough for a nice size house, no mortgage, some reliable cars and enough for investments to be paying a nice dividend.
OP didn't say anything about immediately heading into retirement with the money that makes them "rich", boyos.
post 1694888253 12-15-2023, 02:35 AM
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For myself personally, true wealth includes:

Healthy family
Ability to pursue activities that provide you with a sense of fulfillment and meaning in life, allowing you to inch ever closer to self-actualization
Tongue punching female fart box on the reg

Money is just a vehicle to pursue the above. Without the above, money is empty and meaningless.
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post 1694889083 12-15-2023, 03:36 AM
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Originally Posted By LexBrah⏩
Depends on your age too I think, not just location.

$5M if you're 60-70 and you're probably set for life.

If you have $5M and you're 30, you'd still have to work unless you wanted a minimalist life and not going crazy on holidays and experiences. You'd still have to somewhat budget if you never wanted to work again.


I voted $5M though. Enough for a nice size house, no mortgage, some reliable cars and enough for investments to be paying a nice dividend.
What if you're 90+ like George Soros...you have all those billions, but death is still coming to get you. What do you do knowing billions won't save you?
RIP Pedro Suarez Vertiz. Te queremos Hermano

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post 1694889523 12-15-2023, 03:58 AM
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Originally Posted By Fang2⏩
What if you're 90+ like George Soros...you have all those billions, but death is still coming to get you. What do you do knowing billions won't save you?
Donate every penny you own to folks who truly need it knowing you were able to reduce marked human suffering before buying the proverbial farm.

Either that or copious whores.
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post 1694890253 12-15-2023, 04:29 AM
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Iโ€™d say in NY ~5 mil+

but in some normal place 2 mil is enough to be super comfortable.


I did this math a lot and worked and lived abroad. My plan is to sell or rent out real estate I got in ny and go to some nice place preferably as far away from too many people as possible. I donโ€™t feel rich at all here in NY paying insane property taxes etc. but in normal places around the world Iโ€™d be baller as fuak.

Example:
A client of mine did this many years ago: Sell 300k house in NY, nothing special. With 10k property tax etc., and moved to Atlanta where the same money gets you a freakin palace with like 2 k property tax, lake view, brand new house, radiant heat, skylights, tall ceilings, gorgeous everything, place looks like mtv cribs episode. He is basiclaly rich there, but low middle class in NY.
post 1694891393 12-15-2023, 05:22 AM
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Originally Posted By QuickShotSteve⏩
I see starter homes in the $700k - $1M range. Nice homes are $2+M, and i'm not talking mansions/estates. The Tampa (hillsborough country) sheriffs house just sold for $15M, thats rich.

I think$10M is the upper level of middle class.But I think to comfortable say RICH, is $25M+. I voted $100M, just because I dont think $10 is the threshold anymore unfortunately.
I guess even the poor are millionaires nowadays then.
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post 1694891553 12-15-2023, 05:27 AM
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post 1694892323 12-15-2023, 05:49 AM
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People earning ยฃ100,000 per annum.
post 1694892443 12-15-2023, 05:54 AM
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I'd say 10 million. Its very easy to be a boomer and have 2-3 million if you did things correctly and worked an upper middle class job. 10 million is really where you have "Wealth" though. 5 million is pretty unachievable for the average minion, but 10 million is dang near impossible unless you have sold a company, or have some sort of celeb status.
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post 1694893213 12-15-2023, 06:17 AM
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Networth doesn't make you rich unless that networth is bringing you money. How much you bring in a year is a better way to gauge if someone is rich or not. I would say a $1m/y net income would make you rich.
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post 1694893263 12-15-2023, 06:18 AM
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ceo 10k a month
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