How much money do you think makes you monetarily wealthy?

[MrShaun]

Monetarily speaking, how much money makes a person rich?

$100'000 makes you rich.

$250,000 makes you rich.

$500,000 makes you rich.

$1,000,000 (a million) makes you rich.

$2,000,000 (multi-million) makes you rich.

1,000,000,000 (a billion) makes you rich.

Updates

+1 y

This is based on total accumulated wealth, not what your income currently is.

[BoopBoopBeep]

Depends on where you live. Belize vs LA is a completely different cost of living. You have half a mil in the Philippines you're pretty set for a ways. you have half a mil on rodeo drive you can go through that in months. I've stayed places where my room and board for the month was under $500 and that came with a cook/housekeeper and armed "guide". I never even really needed to eat out unless I wanted to because so much food came with that $500/month.

If your passive income alone is sufficient to allow you to live the lifestyle that you would like, I would consider that wealthy even if you made a third of what I do.

[MrShaun]

Very good points!

[Honest-Matt]

I'll say $1mil is getting closer to the expected start for upper middle class. A married couple making 6 figures (250k) will live comfortably but no room to just buy whatever, they still have to be mindful. 7 figures gets into the starting territory for frivolous spending.

[StarWarGirl]

If it's regular earning, a million. If it's accumulated wealth a billion. As accumulated wealth can end anytime if there is not earning according to that pace.

[Paris13]

A Million is Rich But Thousand Is Comfy. xxoo

[Paris13]

Thank You, dear. xxoo

[ChiTown33]

There was a study done once to determine once how much $$ someone needed to be happy. And it was determined that happiness peaked at about 70k to 75k a yr. Rich starts at about 1.2 million I'd say. Because a (very reachable) 6% return on 1.2 million is 72k a yr.

On a side note the 1% starts at about 11 million. This kind of shows the width between the 1% and just the "well to do".

You can live a very good life off of 1.2 million properly invested. Just not an extravagant life. But now we're getting to what somebody's definition of rich is.

To me "rich" is just not having money problems, able to pay your bills, and have a meaningful, enjoyable life within reason.

[GuyAnswersGirls123]

I went for 7 figures ($1 mil+). It might be relative to country. In Japan, even the top movie stars usually don't make that much money. So anyone who makes a million dollars USD or more here in Japan is really in the absolute top percentile here.

[GuyAnswersGirls123]

I'm speaking of annual salary, I should say, not accumulated wealth and assets.

[argot]

Fiat currency are just a bunch of IOUs. Nobody has any obligation to give you anything for them. Thus accumulating IOUs doesn't make you wealthy.

[argot]

The system is designed to constantly devalue those IUOs at an ideal rate of 2% a year. Even though 2% is the target, it often paces more at an average rate of 5% a year. In in recent times it has paced much faster due to rapid money printing. Accumulation of money is loss of wealth.

[argot]

*currency

[NaultD]

Liquid cash. $500,000 is the minimum for a lot of fiduciary wealth management groups worth there salt. Money that makes more money.

[strateguy632]

not number, whatever amount to pay off your mortgage early is rich.

[Jersey2]

Being happy in life makes you rich. Today I just read that some technology manager with a $2.1 million dollar house just shot his whole family and himself… he wasn’t rich by my definition.

[exitseven]

A million dollars is not enough anymore. I would say 5 million would give you security and the ability to live in luxury.

[SotiCoto]

They're all rich.
But anyone with over a million has too much and it needs to be redistributed.

[Jersey2]

That’s just stupid and low level thinking or rather regurgitation from some politicians who won’t give you anything anyway while they get much more than $1M… just look at Obama or the BLM founders.

[NathanDavis]

I'm debt free... I'm rich

[strateguy632]

no mortgage? credit card late?

[NathanDavis]

@strateguy632 no mortgage, all paid in full

I don't rely on credit either

[laly520]

any amount above what an average person can make

[TheSpider]

Loving life makes you rich. You greed head.

[laly520]

in century of materialism
it has no value for very vast majority

[TheSpider]

@laly520 Keep telling yourself that. And look at all the happy billionaires like Bill gates and Barack Obama.

[laly520]

I am happy with what I've got
n truly grateful
just wanted to make a side note

[TheSpider]

@laly520 Well that's what really matters.