What is your definition of being rich?

[MikeTheBartender]

I always hear people say I want to be rich, what does rich mean to you?

Updates

+1 y

I really wanted to hear from the ladies too, where are all the female opinions?

[Bricealan]

@MikeTheBartender Mike, I am definitely rich. My home is paid for, my Model S is paid for, Only one long term debt... my Tesla Storage battery in the garage. I have a good income, live in a nice home with nice people around me here and at work. I have to say I have the best that most people could ask for.

Also learning music... Piano and Violin, hopefully starting SCUBA diving again soon.

... I am definitely rich, by most peoples standards in today's society.

[MikeTheBartender]

Amén, sounds like a good life. Are your investments good enough to stop working as well?

[Bricealan]

I am holding Tesla, Microsoft, and Fidelity Magellan... and over the years investments have paid off well.

[msc545]

5 billion $ will do it.

[Chazmatazz269]

Hahaha! Is that all? Hahahaha!

[msc545]

@Chazmatazz269 I know it's a small amount, but I'm a conservative guy...

[Chazmatazz269]

Hahaha! Yeah.

[msc545]

Thanks for MHO

[Inbox]

@msc545 You’re wrong fool! It’s $5 billion and one dollar that makes you rich!

[msc545]

@Inbox ohhh... well,,, can you loan me a dollar?

[Inbox]

You sure with all the crazy interest rates?

[msc545]

@Inbox Yes.

[Anonymous]

To have enough money to be able to live comfortably for the rest of your life without ever having to work (again). Like still be able to have a house, cars, have a family, travel, eat out, not have to worry about bills or unexpected expenses etc.

[Chazmatazz269]

I’m kinda rich now. Ell oh ell! When i was young, i thought “fuck you” money was “rich”. I have that now. I haven’t lived with job fear in almost twenty five years.
I have the skills and tools to survive if the system breaks down. But if i couldn’t work and the current system didn’t collapse, i’d struggle. So now being rich would mean being independently wealthy. Enough money and/or income that i would never worry about being healthy and safe if i couldn’t work anymore.

[MikeTheBartender]

So you were rich by age 25?

[Chazmatazz269]

I had “fuck you” money by twenty-six. I didn’t suffer job fear because i had savings and i knew my worth. It doesn’t take as much money as some people would think to be comfortable telling their boss to fuck off on a whim. But all i’ve ever really wanted was freedom and a few things to occupy my spare time. People who want more need more. Like that quote from “Fight Club”, “The things you own wind up owning you.”.

[MikeTheBartender]

Amén.. congrats on hitting it early.. took me 20 years or so.

[elaphe]

I would call a millionaire rich. Of course, this is all relative. Billions of people in the world live on less than $1 a day. To them the average middle class American (or most "poor" people, for that matter) would seem wealthy. I'm sure a millionaire seems relatively poor to someone who is a billionaire.

[DrPepper12]

This is EZ!! My definition has NEVER changed. To be rich is to be mortgage free. That's it. So many doors open when not paying for housing

[MikeTheBartender]

Agree. Paid mine off in 2019. Definitely a game changer

[DrPepper12]

2027 here. Hard to believe it's almost over!

[itsclearlynicholas]

Anyone who's clearly got hundreds of thousands of dollars and no mortgage no debt. Or they've got millions of dollars and no debt. Or any of the above and some debt minimally

[Anonymous]

No debt

Enough to buy and maintain a house, possibly a car and afford a comfortable life were if the washing machine breaks buying another isn't a financial hardship

Probably doable on 60k a year so 10 times my income

[jahaims]

You can do what you want when you want without earning an income

[Benitomussoloni]

Wealth does not come from money, it comes from knowing God.

[Anonymous]

these days, a millionaire

[MikeTheBartender]

I used to think the same, when I hit a million I sadly realized a million ain't what it used to be!

[DrPepper12]

Agreed. 1.5 million here in mostly illiquid assets and it's still not easy.

[MikeTheBartender]

@DrPepper12 yeah the 4% rule 1 million leaves you with 40k a year. Not much. Especially these days.

[Astarlessnightsky]

If you have more than enough

[Cheerguy]

Being able to afford anything they want

[Anonymous]

marry a rich woman : )