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Old 12-17-2007, 01:32 AM   #41
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on a personal / daily basis:

when you go to buy something and you have enough $ and some left over= RICH

when you go to buy something and you have just enough $ with nothing left over= Middle Class

when you go to buy something and you don't have enough $ and must do without= Poor

For TAX Purposes...see the afore mentioned table with its averages, means and medians
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Old 12-17-2007, 02:48 AM   #42
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Maybe I watched too much Little House on the Prairie growing up, but I don't think of money when I think of the word rich.

An episode of that show always stuck in my head...

Nels: That's quite a family you've got there. I'd like to think my young'uns would pull together like that if things got bad, but like I said, we've always been very lucky when it came to money. Believe it or not, Charles, I think you're the richest man in Walnut Grove.

Charles: Nels, I know I am.
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Old 12-17-2007, 05:33 AM   #43
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As long as i'm happy financial wealth is irrelevant.
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Old 12-17-2007, 06:46 AM   #44
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Rich is one of those words that are always impacted by "er" (not Early Retirement, although it is too). If you actually have $5MM I suspect you would want more therefore the "er" factor - $5MM is rich until you get there then you see more as better therefore the "er" - you want to be richer. Like education some think HS graduation is smart but College graduation would make you smart(er). You can build something once and think you did your best and then you do the same thing again to make one bett(er).

"Rich" is one of those things that change with age. Rich at 70 is not the same as rich at 20. There are exceptions of course but they are not the norm.

I think "rich" at any stage of life is where you have enough money (since OP wanted to limit this to the $$ factor) to live a life you are content with. Where money is not the dominant factor on your mind to a major extent, sure you think about it and do not do any stupid things (hopefully) that would "waste" it, but, since you are content, it is a minor element in your everyday life. Hopefully, the older one gets the $$ become irrelevant (thanks Jambo101).
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Old 12-17-2007, 11:59 AM   #45
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Hopefully, the older one gets the $$ become irrelevant (thanks Jambo101).
I've been reading this forum for a while, and I haven't seen many if any posts that indicate that $$ became irrelevant, or even less than vitally important to anyone.

Ha
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Old 12-17-2007, 12:10 PM   #46
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I have all the money I need, but I wouldn't turn down any extra (inheritance, etc.).
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Old 12-17-2007, 12:41 PM   #47
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on a personal / daily basis:

when you go to buy something and you have enough $ and some left over= RICH

when you go to buy something and you have just enough $ with nothing left over= Middle Class

when you go to buy something and you don't have enough $ and must do without= Poor

For TAX Purposes...see the afore mentioned table with its averages, means and medians
I have to agree with this post. My coworkers think I am "rich" and I am in my 20's (younger than all of them and make less than all of them) but I have disposable income and they are living paycheck to paycheck.
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Old 12-17-2007, 01:01 PM   #48
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Dh and I watched 60 Minutes last night and Andy Rooney did a bit about if he was rich. Compared to dh and I Andy is rich, I guess he doesn't think so.

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Old 12-17-2007, 01:34 PM   #49
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Seems like rich is what the other guy is. I wonder if Bill Gates thinks himself Rich, or does he think, 'Well I have a lot of money.... but boy, somebody like the Sultan of Brunei, now that guy is RICH'

According to US Statistics, we have more assets than about 60 or 70% of the population, but we don't think we are RICH. Well off, most likely, but not Rich. That other guy down the block, now he is rich!
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Old 12-17-2007, 04:51 PM   #50
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When you lose sleep over the inheritance tax.
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Old 12-17-2007, 05:52 PM   #51
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I think "rich" at any stage of life is where you have enough money (since OP wanted to limit this to the $$ factor) to live a life you are content with.
I think you nailed it. Being rich is related more to contentment than to the number of dollars possessed.

"My greatest skill is to want but little." - - H. Thoreau, in Walden

There you go. IMO, Thoreau was really rich! I haven't attained sufficient detachment from material things to be as rich as Thoreau, but at least I am basically content and not at all consumed with longing for things that I cannot afford.
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Old 12-17-2007, 08:28 PM   #52
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Somebody who is rich doesn't need to worry about what his wife or girlfriend might want for Christmas.
[Wesley]

I don't think they exist.

[/Wesley]
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Old 12-17-2007, 08:33 PM   #53
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I've been reading this forum for a while, and I haven't seen many if any posts that indicate that $$ became irrelevant, or even less than vitally important to anyone.
On a more serious note, that money doesn't become irrelevant, I agree with. That the things one wants to buy, and the value of those things change, I wholeheartedly endorse!

For example, in college one main goal I had was to buy a Ferrari Testarosa. Mmmmmm, hawt sportz car!!!! Now, I could actually afford one (a used one, anyway...) - but I'm not willing to devote the $ from ER savings to do so. Values change.
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Old 12-17-2007, 09:20 PM   #54
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Rich is a doctor from Tampa who is witty and a great moderator...
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Old 12-17-2007, 11:24 PM   #55
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Rich is a doctor from Tampa who is witty and a great moderator...
LOL
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Old 12-18-2007, 12:54 AM   #56
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Dh and I watched 60 Minutes last night and Andy Rooney did a bit about if he was rich. Compared to dh and I Andy is rich, I guess he doesn't think so. CBS News Video - Top Stories and Video News Clips at CBSNews.com
Thanks for sharing. It's sort of nice to know that people with money also "cut corners" to save more money. I heard Oprah say on her show that she doesn't like to pay for the phone calls at the hotel. She'd call her friend Gayle and ask her to call her back at the hotel! I'm digressing, but ... when I was a teenager, I used to work in Chinatown (San Francisco). You could get your hair washed and styled for about $5. I used to tell me mom that when I got a real job, I would pay someone once a week to wash my hair. I only started doing this about a year ago, over 25 years after those Chinatown days (it's now $9 but in a residential area in SF), but I only do it about once every two months. Now... if I were "rich," I would order room service at the hotel and not freak out over pay $15 for two eggs, 2 sausages, and toast. I've never done that yet.

I think "rich" is the person who has more than me... always.
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Old 12-18-2007, 04:51 AM   #57
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I guess it should have said "less relevant" rather than "irrelevant". Must be that less than high school early education coming back to haunt me. Need a longer edit period.
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rich is....
Old 12-18-2007, 09:28 AM   #58
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rich is....

Set your STANDARD as LOW as possible then you are Rich.


enuff
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Old 01-02-2008, 08:40 PM   #59
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There are some good thoughts here, but Ken Galbraith nailed this one:

"A wealthy man is one who earns more than his wife's sister's husband."
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Old 01-02-2008, 08:57 PM   #60
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When I have "enough" and know that I do.

Say, I also saw some studies of state tax rates which were trying to determine which states have lower tax burden, including income tax, property tax, sales tax, etc. For the example families they calculated based on 500K annual income. Yikes, that's rich!
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