https://www.usatoday.com/story/mone...it-take-to-be-wealthy-in-america/71237797007/ https://dqydj.com/net-worth-percentile-calculator/ https://www.prnewswire.com/news-rel...re-living-paycheck-to-paycheck-301558733.html What does everyone think is wealthy or well off? in the US, Average household networth is $1,060,000 and median house hold networth is $192,000, which means the people at the top are doing very well. Survey shows people think $2.2 million in networth is considered wealthy and income of $483,000 (average is 75K, which seems high for me) per year is also considered wealthy. However, 50% of the people with average networth of $560,000 feels they are wealthy. For myself, when I was in high school I thought a million dollars of networh and 100k income would make me wealthy. But today I don't think $2.2 million is wealth, and $1,000,000 definitely does not make you wealthy. What can you do with $2,000,000 in networth? Can you go out and eat in restaurants every day? Take nice vacation once or twice a year? Buy good cars every few year? My guess is if you are $5,000,000 ( or should that be $10,000,000?) networth house hold you could do these things. If you are an average family, you can get to the "wealthy" networthy by not over spend and invest over time, but you cannot live the life style of the "wealthy", so are these people considered wealthy? What about the 1/4 of people making over $200,000 per year living paycheck to paycheck?
Surprised you didn't include a lower range. Wealth is definitely relative and with anyone that lives in the poverty line, even 100k net worth might seem wealthy. Owning your home (no mortgage is probably wealth to 30% of Americans).
But do you have a well manicured lawn that house maids have to piss on cause they cant use the guest bathroom?
2M at 5% interest is 100k a year. Not bad for passive income, and if your job pulls in 100-200k, it allows your wife to stay at home and raise a couple of kids affluently in Texas or Florida. If you live in the Bay Area under the same params, you might need food stamps while your wife job hunts and dabbles in the gig economy...
I guess it all comes down to what defines wealthy, to many people in the world, having a home to go to and not starving is wealthy. This is just my view of wealthy at this point in my life. I am sure if you ask some people with 5mil, they might say they are not wealthy either
I am going to speak for the poors. You can have a lot of money and no one to share it with. You can make millions and have no peace of mind. Being able to live within your means and be healthy emotionally and physically is enough wealth for me.
i was dating a girl recently who got a job with a starting salary of $85k/year and when i told her that was a pretty good she said it wasnt and that it was "basically poverty wages". i was kinda shocked by that comment as she didnt grow up rich or anything and to top it off the job was with a non-profit! "wealthy" is relative. even 20 years ago if someone had a million bucks they were set for life, but thats not a given anymore.
Wealth = power You aren't wealthy unless you own a national or at least a large state level politician. Everyone else is just a sycophant or a pleb.
If you retire with 5 million and have a 4% annual withdrawal rate, that is 200K to live on each year. I don't think that you are living large, especially after taxes. If you wander down to Mexico with that much annual income, you could live like a king.
I've said it before, but it's difficult to define "wealthy", and for many retired people, they don't even care as long as they have more than enough to live off. I've read stories about lots of people with less than $1 million either considering retirement or have retired. I'd be scared to do that, but honestly, I probably could. Others have $5 million+ and decide to keep working "just in case". One of the biggest problems I've seen is that no matter how much more money some people make, the more they want to spend more money sometimes to let people know they make more money. That's a vicious cycle because you're never wealthy enough to keep up your lifestyle so you keep working. Pretty soon you're 60+ years old and decide you have enough money - just in time to die. lol. In a nutshell, I don't think there is a universal definition of "wealthy". Everyone has their own number. Invest in yourself early, know what your finish line is by your 30s and adjust accordingly. Get out of the rat race and don't be a lifelong victim of it.
Yea, I guess that's me right there. I would love to retire by 50 and that is still my goal once my kids are out of the house. All I can say is it's better to be lucky than good...
like having $5,000 is like super rich. i mean my allowance is 20 and i worked summer jobs (chores) around the neighborhood and made a couple hunnids.
In my line of wok, I've come to define wealthy as having the ability to fully recover after a disaster. I've been on fires where trailer parks full of people dependent on Social Security lost everything and I've been on fires where middle class and wealthier neighborhoods were completely wiped out. The initial pain for all of them is the same--they lost a home. Three to five years later, it's not the same. Some are living in a new house or have moved to a better place and others have less than they had before the fire and are stuck in a community that no longer has the ability to support them that it once had. So, if your home gets destroyed and then you get screwed by your insurance companies to the tune of tens of thousands such that it adversely affects the rest of your life (and family), you're not wealthy. If you can happily brush all that off, you're wealthy enough. If you're one of these losers building survival compounds in New Zealand, you need to be taxed a hell of a lot more.
Mark Zuckerberg Spent $187 Million Secretly Buying 1,600 Acres of Hawaii Land, And Now He Is Reportedly Building A Massive Self-Sustaining Apocalypse Bunker
