Posted by
Message
Grinder
LSU Fan
Member since Nov 2007
1037 posts

At what amount of savings or net worth do you consider someone to be rich?

Curious of people’s personal opinions.

Either rich or wealthy, since the 2 are probably different.

It could either include the equity in the house (net worth) or just invested assets.

I’m starting to think “rich” starts at more than $5M but probably less than $10M invested assets.


tduecen
TBD Fan
Member since Nov 2006
160115 posts

When they no longer look at the price of an item before buying


I Love Bama
Alabama Fan
Alabama
Member since Nov 2007
36844 posts

It's more about time and burn rate to me.

Can that person stop working for the next 30 years and keep is current lifestyle?

He is much richer than someone making $500,000 per year and spending $500,000 per year.

One is a free man, the other is a high paid slave.


glorymanutdtiger
LSU Fan
Baton Rouge
Member since Jun 2012
2790 posts
 Online 

Currently I'm a high paid slave and feel like that every weekday.

I need to figure out to be the other person.

It is all about pursuit of happiness. So easy to say


Replies (0)
Replies (0)
170
HailToTheChiz
Auburn Fan
Back in Auburn
Member since Aug 2010
43274 posts

This sounds ridiculous but I have taken the mindset that "rich" depends on the person and location.

One can be rich by living each day without care of how much money is spent.

One can be rich by living frugal but knowing that they are about to retire with means to live for 30 years.

It's more about the person and what they want. Someone may want to travel the world. Someone else may be content at the house or playing golf.


tigerbacon
LSU Fan
Arkansas
Member since Aug 2010
3245 posts
 Online 

To me, Rich is net worth over 100 million. To me well off is network 10M-100M.


Billy Blanks
Arkansas Fan
Member since Dec 2021
850 posts

quote:

To me well off is network 10M-100M.




To me, that is very very rich. We all have different economic thermostats though.



Replies (0)
Replies (0)
152
Billy Blanks
Arkansas Fan
Member since Dec 2021
850 posts

Rich to me:

100k liquid. Have some sort of cashing flowing investment (Commercial, residential, own a business etc)

Make north of 400k a year.
This post was edited on 7/3 at 10:37 am


Replies (0)
Replies (0)
94
Turf Taint
LSU Fan
New Orleans
Member since Jun 2021
3674 posts

When I can do what I want, when I want, with whom I want, for as long as I want.

Pretty close to this...

quote:

Can that person stop working for the next 30 years and keep is current lifestyle?


Basically, "enough", although that might really be way more than enough.



Grinder
LSU Fan
Member since Nov 2007
1037 posts

6 downvotes and 1 upvote.

Gotta love MT peeps to not disappoint.


TD SponsorTD Fan
USA
Member since 2001
Thank you for supporting our sponsors
Advertisement
Sput
Auburn Fan
Member since Mar 2020
5181 posts

quote:

When they no longer look at the price of an item before buying


Damn my wife has been rich even since I’ve known her then


ItzMe1972
Member since Dec 2013
7430 posts

Damn my wife has been rich even since I’ve known her then
--

^^^Now thats some funny shite there ^^^


Replies (0)
Replies (0)
140
oneg8rh8r
LSU Fan
Port Ludlow, WA
Member since Dec 2003
2270 posts

I don't know about RICH, but I believe when you don't have to think about what it is your spending money on I think you are well on your way.

I think the number I'd be comfortable with is a combination of:

Over 3M in low risk dividend earning stocks/bonds or a fixed retirement (6k) @ month.

Over 1M in investments with higher risk tolerance.

Over 500k in liquid cash.

Paper millionaire in assets.

I'm thinking over 6M total.


TigerIron
Member since Feb 2021
1515 posts

Roughly 3X of what I have. This ratio doesn't seem to change that much, even as my own value for X goes up. I guess when I was really young and had very little money it would have been more like 10X, but as an adult with a significant income it generally feels like "rich" is relative.


Replies (0)
Replies (0)
10
Shepherd88
Member since Dec 2013
3919 posts

I separate the two.

Rich is defined in $ and it’s different for everyone.

Wealth is defined in freedom of time and is also different for everyone.


makersmark1
Auburn Fan
earth
Member since Oct 2011
12414 posts
 Online 

Enough to generate $100,000 of income per year without withdrawals


Replies (0)
Replies (0)
33
GeauxTigers123
LSU Fan
Member since Feb 2007
384 posts

It’s all so relative


Replies (0)
Replies (0)
10
MrSpock
US Space Force Fan
Member since Sep 2015
3582 posts

quote:

Curious of people’s personal opinions.

Either rich or wealthy, since the 2 are probably different.

It could either include the equity in the house (net worth) or just invested assets.

I’m starting to think “rich” starts at more than $5M but probably less than $10M invested assets.


Rich to me is more related to income. Let's say >500k/year.

Wealth to me is more related to time. Can I do whatever I want whenever I want.

I know a lot of rich people who will never be wealthy.


Grinder
LSU Fan
Member since Nov 2007
1037 posts



FinleyStreet
Georgia Fan
Member since Aug 2011
7293 posts

quote:

I’m starting to think “rich” starts at more than $5M but probably less than $10M invested assets.





So if I have 10M in assets but 25M in liabilities I am rich?



first pageprev pagePage 1 of 4next pagelast page

Back to top

logoFollow TigerDroppings for LSU Football News
Follow us on Twitter, Facebook and Instagram to get the latest updates on LSU Football and Recruiting.

FacebookTwitterInstagram