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Define the tastiest people in the world - what is "rich"?
The Green Eyed Monster
i blame hip hopRegistered User regular
i blame hip hopRegistered User regular
Originally I was going to make this about what is "wealthy," because I heard a news item that apparently Barak Obama said something about setting the line for wealth in America at a yearly income of $97k. The commentators I heard apparently thought that was way too low, although too tell you the truth if I was making that much I would feel like I was swimming in money.
Which made me want to discuss the line at which we consider someone wealthy, but I figured that might just be a bunch of economics, so why not talk about when we consider someone "rich"? I didn't just want to discuss numbers, but also the notion of when we consider someone rich -- a lifestyle aspect or a monetary goal or whatever it is that makes you draw the line between "well-off" and "rich". Does three cars make someone rich? Is it in property value? Estate? Stock? Having a large, loving family? Strong spiritual health? It could be anything.
So what is your personal definition of "rich"? Where would you draw the line?
I'll type a definition up in a moment but I really want to take a shower.
Which made me want to discuss the line at which we consider someone wealthy, but I figured that might just be a bunch of economics, so why not talk about when we consider someone "rich"? I didn't just want to discuss numbers, but also the notion of when we consider someone rich -- a lifestyle aspect or a monetary goal or whatever it is that makes you draw the line between "well-off" and "rich". Does three cars make someone rich? Is it in property value? Estate? Stock? Having a large, loving family? Strong spiritual health? It could be anything.
So what is your personal definition of "rich"? Where would you draw the line?
I'll type a definition up in a moment but I really want to take a shower.
The Green Eyed Monster on
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Someone could be considered rich when they no longer even think in terms of financial necessity. When "Do I have enough money for that?" doesn't even cross their mind when they decide to do personal actions. I stress personal actions. Because, Bill Gates doesn't have enough money to buy cars for everyone, but he's certainly rich. I think once almost any object or action you desire to obtain or do is open to you, unbound by cash... then you're rich.
*How many grains of sand are needed before you can call it a heap? Take one grain away. It's still a heap, right? Take another, and another until it definitely isn't a heap anymore. Where was the line? Which one grain made the difference? I happen to think it's ridiculous to even debate it. But it's a useful perspective to have.
once you decide, i simply wont tolerate anything worse than [x] no matter the price, then youre probably rich or close to it.
Let 'em eat fucking pineapples!
But this is America - even the proles are rich. Our sweatshop slaves are happier than any other slaves in the world; their paychecks are a tad larger and the food here is both edible and cheap.
EDIT: Oops, wrong clip.
I think every person should be able to afford modest living accommodations (no more than 3BR on an individual salary), one car, enough cash to maintain a healthy leisure lifestyle in their free time, food, clothing, bills, and a little bit to put away at the end of the month. That would be middle to upper-middle class to me. Everything above and beyond that (a second car, a larger home, an extravagant leisure lifestyle) becomes small signs of wealth, and once you have enough of those, you are wealthy (or rich).
I think $97k is a pretty fair number then, considering that lifestyle (although it obviously does depend on where you live).
Many Americans, even if they do occasionally have to fret over their babysitting / child-rearing / college savings / second car loan / christmas credit shopping expenses can still be wealthy in my eyes.
Parents able to send me to a 4-year 50,000 dollar a year private college without any financial aid/scholarships=wealthy.
But if they then had amenities above and beyond that? Yes, those would be signs of wealth. If they had a lot of those amenities, then they would be wealthy.
Note, I am also comparing America's wealth against the rest of the world's. Middle class people in America are actually rich by the world's standards, but then that wouldn't be fair to them to place that kind of relativite scale on their wealth. I will still call them middle class. Those people who climb above that relative middle ground here, though, I would consider them upper-middle, approaching wealthy or rich.
In the case of the elderly there is still dependency, like how you mentioned how they need their children's help. The same goes with people on welfare: I've known a few people on welfare with more videogames than me, and a nicer computer and t.v. You could claim they're wealthier than I am, but they are dependent on the government. A wealthy person does not depend on someone, or else there wealth is at the whim of another.
And hell, my family aren't spendthrifts, college loans + housing + sending 2 kids to college takes a huge bite out of you.
What's worse is that, really, combined with sleep, he works more than he actually lives. And he's a step-dad, too. He willingly signed up for this. I just don't know why.
"Want four kids and a wife ten years your senior? Oh, you also get to spend some 80% of your waking life mixing cement."
"Where do I sign up?!"
Some people horrify me.
Like it, but I think that's already the definition of 'wang'.
Ho ho ho.
https://medium.com/@alascii
I liked the response in post 2, and if I had to put a dollar amount on that, for me, I'd say $100 Million +. If you invested $75 million of that in State Municipal Bonds that would pay you 4%, you'd make 3,000,000 a years TAX FREE. And you'd have $25 million to play with to start business's, invest in start ups, buy property, etc.
If 100k a year is rich then someone with 2.5 million is rich. You invest all 2.5 million in state municipal bonds and it will pay you 100k TAX FREE per year. But we all know that amount of money won't last forever and inflation is going to eat away at you each year. So maybe 3.5 million is a better number.
I believe what Barrack is saying is that people with 3.5 million and above are rich. I say those people are upper middle class. The upper class starts a lot higher in my opinion. Once it becomes irrelevant how much money you make per year, then you are rich.
This is a good starting point, but there are different grades of rich. I generally don't worry about whether or not I have enough money to buy coffee in the morning, but I might worry about whether I have enough money to buy a new video game. I have a friend who doesn't really worry about whether he has enough money to buy games, but he probably checks his account balance before he buys a new game console. People who drop hundreds of dollars on electronics with no thought may still need to think hard before buying a new car. And so on.
Rich is relative. I suppose the question could be viewed as, "At what level can one be argued to be 'rich' by pretty much any measure? At what point will one consider himself to be rich?" And this is subjective.
It also varies based on lifestyle. If someone chooses to live in a crackerbox, drive a 30 year old car, have no kids, and eat frugally, he may have more money than he could ever use. Someone else with the same income could easily be living paycheck to paycheck, or slipping into debt.
Personally, I'd say "rich" is having a household income of $300k annually or greater in the city of Sacramento. The number will vary based on geography. Why $300k? I dunno, it's subjective. It has something to do with it being the upper limit of what I reasonably expect to ever make in 2007 dollars. I imagine "rich" as something above what I'll ever be. I would wager many people think similarly. If they make that much money, then clearly that much money doesn't constitute "rich".
But doesn't being rich mean you have to flaunt it around, too? Investing every cent won't buy you any friends in high society. Even if you live off bonds and bank interest, the rich are still going to consider you poor, right? I'm sure the humor's not lost on anyone that Scrooge McDuck's money vault was ten times bigger than his mansion.
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