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Are you wealthy?
Old 04-03-2013, 05:39 PM   #1
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Are you wealthy?

We are! and now we have an answer to 'what do you do'?

AssetBuilder - The Four Question Wealth Test - AssetBuilder Inc., Registered Investment Advisor
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Old 04-03-2013, 05:43 PM   #2
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I'm good with #'s 3 and 4; can 1 be half wealthy? Seriously, no I don't consider myself wealthy...maybe "comfortable."
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Old 04-03-2013, 05:44 PM   #3
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Am I wealthy? Depends with whom I am compared.
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Old 04-03-2013, 06:05 PM   #4
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The interesting thing is that many LBYM's at many NW levels can answer all of the questions in the positive.
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Old 04-03-2013, 06:05 PM   #5
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For me, 4 out of 4 answers say I am wealthy, and I would agree. However, they forgot to ask the only question that I think would accurately detect true wealth:

"Are you completely satisfied and happy with what you have?" And yes, I am. My lifestyle is relatively modest, but I do not long for McMansions, boats, antique cars, private jets, extravagant trips, the Hope Diamond, or whatever. So that is why I consider myself to be wealthy.
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Old 04-03-2013, 06:10 PM   #6
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Well, according to this survey, I am wealthy.
The scoreboard puts me in the top 5%.
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Old 04-03-2013, 06:14 PM   #7
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IMHO - if you are FI then you are wealthy. If you are FI and still working like me, then its a Yes to the first 3 questions and a No to the last. Many "wealthy" people work past FI because either they enjoy it or like me have a target figure in mind before pulling the plug
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Old 04-03-2013, 06:28 PM   #8
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Quote:
Originally Posted by Meadbh View Post
Well, according to this survey, I am wealthy.
The scoreboard puts me in the top 5%.
+1 but top 10% rather than 5%. (Congratulations BTW!) To me wealth is all relative, while I concede that I am wealthier than many, there are plenty of people out there who are much wealthier than I.
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Old 04-03-2013, 06:39 PM   #9
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I am striving to be successful rather than wealthy, although at some point those two things may intersect.
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Old 04-03-2013, 06:55 PM   #10
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I sure don't FEEL wealthy.
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Old 04-03-2013, 07:07 PM   #11
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I would be considered wealthy...but, frugal. As Mom always said, "Watch your pennies, and the dollars will take care of themselves."

In reality, I feel wealthy when my loved ones (including myself) are doing well, when I am surrounded with people who love and support me, and, by the way, don't have to worry about paying bills. I feel incredibly wealthy in ways that count for me.
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Old 04-03-2013, 07:14 PM   #12
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Well, we are wealthy also, according to the questions. We are in the 25% range.

However, my first thought was that I am wealthy, because I have my health. My DH has medical problems, but they are not the type to make him die from them. We are also very wealthy because of our family and especially my granddaughter, who is such a joy. I do consider ourselves blessed that we have the income and assets that we have, without working.
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Old 04-03-2013, 07:19 PM   #13
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I love question number 4!:

You are at a cocktail party and a stranger asks: “What do you do?” If you answer this with any known occupation, you are not wealthy and you’re probably a workaholic.
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Old 04-03-2013, 07:29 PM   #14
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Old 04-03-2013, 07:30 PM   #15
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Ignoring the different between 'Rich' and 'Wealthy'; IMHO, if you were to ask most people what the generally accepted definition of a wealthy person is, it would be 'anyone with more money than an I have'
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Old 04-03-2013, 08:18 PM   #16
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However, they forgot to ask the only question that I think would accurately detect true wealth:

"Are you completely satisfied and happy with what you have?"
+1
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Old 04-03-2013, 08:21 PM   #17
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Well, according to this survey, I am wealthy. The scoreboard puts me in the top 5%.
+1 However, I still don't consider myself wealthy, comfortable yes. Also I don't agree with question #4.
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Old 04-03-2013, 08:29 PM   #18
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Originally Posted by frank2009
I'm good with #'s 3 and 4; can 1 be half wealthy? Seriously, no I don't consider myself wealthy...maybe "comfortable."
That is where I am at Frank. If I can only answer 2 of them in the affirmative, at least it is those 2.
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Old 04-03-2013, 08:50 PM   #19
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I can't buy into this four question on wealth. I can answer yes to all four questions but would not consider ourselves to be "wealthy". Too many variables. If one was wealthy they wouldn't be worrying about where interest rates were going (hopefully up). Too old to be in the market. Just my take.
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Old 04-03-2013, 09:09 PM   #20
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I have come to conclude the distinction between rich & wealthy as:
Rich is when you do not need to work for money. You have enough money so your money does your work for you ie. FI.
Wealthy is when you are worth your weight in gold.
To be wealthy in ER, Mr. Sprat's needs to support Ms. Sprat with the diet ;-)
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