How much do you need to earn a year to be rich in America?

[Anonymous]

Why do people give figures so much higher than for people that live in Europe? How is US living so expensive?

100k or less

150k

200k

250k

350k

500k

more

[NaultD]

It's not amount per year because people have so much in dedt getting that income. It's about liquid cash burning holes in your bank account just doing nothing.

Go to any local wealth management and the minimum liquid cash is $500,000. From there that money makes its own money. Lazy people could get $600 a month doing nothing zero risk putting money into a high intrest bank account.

Now if you put money into the s&p 500 and you get into the exponential money. Thats the whole point of 401k getting an end payment of over a million dollars when you only invested $20 a paycheck. Now take that $20 a paycheck and turn it into $500,000 and getting similar exponential growth.

[Telekinetic-Potato]

Rich in America? Lol you need probably about 950k/yr for money to be something you don't need to worry about with a family of 5 and still vacation, and invest in everyone's hobbies and have money for "rainy days" and that would be the very bottom of rich here. Even though anyone making that kind of salary is likely in this category anyway, you're not really rich here until your wealth is measured by net worth.

[Anonymous]

That depends on many circumstances. There is no exact answer.

[docster]

It depends on marital status and number of kids. A single person could be very comfortable on 150k. At 350k and several years to build a nest egg, they might be considered rich. A married couple with 4 kids, plus saving for education, might need 250k to be very comfortable and quite a bit more to be considered rich.

[Avicenna]

First of all, being rich is tied to your net worth, not necessarily to your income.
Things are more expensive in the US than most places in Europe, that's why, especially living in a good neighborhood.

[molonski2]

For " rich " certainly at least 500k , lets say 500k + incentives..

[Anonymous]

"Rich" is less about income and more about net worth.

I say "rich" starts at about 1.2 million.

[systemsareyo]

Lol I like how more is winning. I voted More 😄

[systemsareyo]

I would say at least a salary/wage of $1 million a year after taxes

[Asker]

Holy shit. How?

[Asker]

I hay about in places like Europe like the UK

[systemsareyo]

Lol what would I know. Just a guess man, just a guess.

[systemsareyo]

Have a nice weekend 😁