How wealthy are you.....really?

my wealth is endless.....have five wonderful children all happy and working and married and have twelve grandchildren who like to visit and spend time with us and play games and do puzzles and all live with in an hour ......all in different direction but less than an hour from us.....as well we see or talk to them each week and one child/four grandchildren live next door so we see/talk to them most every day...........oh you were talking about money, we are not starving and owe no man anything...well don't count taxes and electrify and gas and phone and insurance and and and and and
 
ronaldj said:
my wealth is endless.....have five wonderful children all happy and working and married and have twelve grandchildren who like to visit and spend time with us and play games and do puzzles and all live with in an hour ......all in different direction but less than an hour from us.....as well we see or talk to them each week and one child/four grandchildren live next door so we see/talk to them most every day...........oh you were talking about money, we are not starving and owe no man anything...well don't count taxes and electrify and gas and phone and insurance and and and and and
Click to expand...

ditto.giff.gif
 
If you really think about it... One Million dollars of net worth is not all that unusual.. Professionals like doctors and lawyers are certainly in that catagory. You have to consider that includes the house and personal property as well as savings and investments.
 
Quite so, QS, what concerns me is how little you need.
i knew there was a growing gap between the haves, and have-nots; I have noticed it in UK; but that gap is obviously increasing everywhere.
 
In 2004, co-workers at my last job, thought wife and I were wealthy bc we had a power boat and lived in a nice area south of Denver, CO. Only thing was, our boat was a 1992.......definitely not a new one! The area where our house was definitely wasn't the "wealthiest", that was north of us in an area called Highlands Ranch. Doctors, lawyers and the such lived there.

Today, still not "wealthy", even though we still own a power boat and live in a nice area.

But, for awhile, would LOVE to know what being wealthy would be like!
 
ClassicRockr said:
In 2004, co-workers at my last job, thought wife and I were wealthy bc we had a power boat and lived in a nice area south of Denver, CO. Only thing was, our boat was a 1992.......definitely not a new one! The area where our house was definitely wasn't the "wealthiest", that was north of us in an area called Highlands Ranch. Doctors, lawyers and the such lived there.

Today, still not "wealthy", even though we still own a power boat and live in a nice area.

But, for awhile, would LOVE to know what being wealthy would be like!
Click to expand...

lt_mag_26135.jpg
 
There is wealthy..... and there is WEALTHY. If you have a net worth around that amount, but you are going to use it to live in retirement and not support an exorbitant lifestyle.,,then I would think you are comfortable. BUT if you have enough money that you can blow on whatever catches your fancy, like yachts and car elevators, then I think that qualifies as being rich.
 
Wealth is relevant. Possessing "wealth" is not a bad or good thing. There are responsibilities that come with "wealth" including just managing your money and paying taxes. The people that could successfully manage money is surprising low. Look at all the lottery winners that wind up broke. It takes effort not to go broke.

There is too much "wealth" envy simply because someone has more,not even a lot but more. What's mine is not yours.

Some might have a wealth of health, knowledge, experience etc, it's not just money. Wealth is an accumulation. Keeping that pile is the trick.
 
It's all very well having assets, but that doesn't equate to having money in your pocket. Many of us here in the UK have pension funds worth a substantial amount. Then there's personal possessions and savings, equity on house etc.. All that can add up to enough to put you in that 1%, but you still can't afford a life of luxury.
 
What it takes to be in the top 1% state by state.http://www.huffingtonpost.com/2015/01/26/1-percent-in-each-state-map_n_6548222.html


What does it take to make it into the 1 percent of earners? In Arkansas, you'd need to pull in $228,298 a year. In Connecticut, the threshold is $677,608.That's according to a report released Monday by the Economic Policy Institute, examining income inequality by state.
Connecticut -- the state with the highest 1 percent threshold -- happens to also be the state with the worst inequality. There, the top 1 percent of earners make on average about 51 times as much as the bottom 99 percent of earners. At the other end of the spectrum, EPI found that Hawaii has the smallest gap between the 1 percent and the 99 percent, and that the state's richest make only 14.6 times as much as everybody else. In Hawaii, you have to earn $278,718 to be in the top 1 percent.
Click to expand...

original.jpg
 

Back
Top