What is considered wealthy?

StarSong said:
Just as clarification, this is per family household, not necessarily per person. A slightly fuller explanation of the report is here:
https://www.cnbc.com/2019/05/14/the-net-worth-of-the-average-american-family.html
The Federal Reserve report used for these stats is here: https://www.federalreserve.gov/publications/files/scf17.pdf
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The average net worth of all U.S. families is $692,100, according to The Federal Reserve’s Survey of Consumer Finances. If you look at the median, or those at the 50th percentile, the amount is significantly lower: $97,300 — and that may be a better gauge, since the super rich can pull up the average.
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This 7-1 ratio between the average and the median is evidence of the obscene inequality of wealth that now exists in this country.
 

Wealthy for me:
The ability to get on a plane and go where ever I want, for as long as I like. Then come home or go someplace else. I also want first class seats on those planes. :)

I never have been or will be that wealthy.
 
Personally I don’t care what others have ...no one really knows what anyone has ....with an under ground economy in the trillions a lot of those low wage earners who pull the numbers down are not really low wage earners or poor .....
 
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We all start in different places and we all end in different places.

I'm not concerned with what others have I'm only concerned about having enough to make it to the cemetery without becoming a burden to others.

“There is nothing noble in being superior to your fellow man; true nobility is being superior to your former self.”― Ernest Hemingway
 
StarSong said:
Wealth is a state of mind not a dollar amount. Adequate money to fund overhead and needs plus most wants. How much that requires depends on where you live, how important your wants are to you, and how expensive it is to fulfill them.

There are some for whom no bank account could be large enough to make them feel secure, never mind wealthy. Others live happily on barely more than the amount it takes to cover humble overheads. To me, the latter group are the wealthier because they don't let money run them.
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So well stated. Wealth is a state of mind more than a ‘said’ amount of money. Some people are obsessed with money. Their entire lives are about saving money and getting the best deal. They are no fun to be around because they’re so stingy.

Some people live carefree on what they need and trust that the universe will support them on their journey. These people are fun and exciting to be around. They live in the moment.
 
Keesha said:
So well stated. Wealth is a state of mind more than a ‘said’ amount of money. Some people are obsessed with money. Their entire lives are about saving money and getting the best deal. They are no fun to be around because they’re so stingy.

Some people live carefree on what they need and trust that the universe will support them on their journey. These people are fun and exciting to be around. They live in the moment.
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When wealth is discussed in a financial forum it is not going to be about spiritual wealth or health wealth
 
I grew up with an idealistic mindset that money was not important. And yes I can sympathise with the view that the rich stay rich by being stingy and obess about money too much.
From my sad experience, a fool and his money are soon parted. You still needcto set aside money for emergencies.
Some people get the balance right. Careful with money but not stingy.
You gotta respect money. Otherwise you become dependant on taxpayers money and thats not good for your self esteem.
 
Hubby and I own our own home that we have lived in for 53 years together. We also own one car and have some cash on hand in the bank. We have two income streams - a part aged pension from the government and another allocated pension derived from our superannuation and other savings.

We can afford to live comfortably, pay our utility bills and for some help around the house. When we need new clothes or shoes we buy them without hesitation.

It is within our means to contribute to the church, donate to selected charities and help out our children and grandchildren when they need it.

Should we choose to, we can afford to go on a cruise.

If that isn't wealthy, I don't know what is.
 
Warrigal said:
Hubby and I own our own home that we have lived in for 53 years together. We also own one car and have some cash on hand in the bank. We have two income streams - a part aged pension from the government and another allocated pension derived from our superannuation and other savings.

We can afford to live comfortably, pay our utility bills and for some help around the house. When we need new clothes or shoes we buy them without hesitation.

It is within our means to contribute to the church, donate to selected charities and help out our children and grandchildren when they need it.

Should we choose to, we can afford to go on a cruise.

If that isn't wealthy, I don't know what is.
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im envious. But you deserve to be where you are. You earned it and you didn't fritter it away.
 
I consider true wealth to be what you carry inside yourself - your education, nor necessarily formal or academic, but what you have learned from life - strength of character, resilience and compassion.

I was much influenced when quite young by the Ukrainian family that came to live in our street. They endured the German occupation of Ukraine but when the Russians were advancing they fled and became refugees. Eventually they arrived in Australia carrying just one suitcase and their infant daughter who became my best friend.

They began to build a new life which was not easy but they never complained. They had been well off in Ukraine, able to afford a servant. In Australia the father washed railway carriages and his wife worked at home hand mending flaws in rolls of cloth. True resilience and inner strength was what they brought with them.

Later I identified with British and Australians taken prisoner when the Japanese invaded Singapore in 1942. Civilians who had been accustomed to the easy life were suddenly deprived of all wealth and had to survive by helping each other in conditions of great deprivation. The same was true for the stranded soldiers and army nurses who became POWs. All power was taken from them and nothing was left but their inner strength.

I realise that our comfortable life is not guaranteed. The future may test our inner strength in many ways. I hope our inner wealth will be enough to see us through testing times.
 
Most admire those who are extremely wealthy and not "governed" or ruled by their wealth. They possess the money, the money doesn't possess them. Wealth to me is simply freedom. The freedom to go into a grocery store and buy whatever you want, the freedom to enjoy your life and have the time to pursue those pastimes that most interest you. Lets face it, being poor is profoundly inconvenient.
 
I have a fair amount of money saved, but it doesn't mean I want to spend more than I have to. For instance, low-dose aspirin in the supermarket is $3.99 for 100 tabs. Next door in the discount store, it's $1.99. From whom ya think I'm buying it?
 
You didn’t say which incomes are rich; the income you entered is higher than about 90 percent of earners in your area and in your age group.
You’ll have to decide
for yourself if
you’re rich or not.


I've decided were not rich just live well & enjoy life.
 
I just checked and it is confirmed and verified.......I am the most wealthy person on the planet.

I have my health, wife, 2 adult kids, and most of all.......... our 2 grandkids live behind us! I see them every day, multiple times a day.

As a young man out of college I learned to set goals and a plan to achieve them. I honestly think the Lord looked down over the bannister from heaven......shook his head laughing and said...”we better go ahead and bless this poor goofball because he won’t make it on his own”.

I never thought I would be blessed the way I have. Proves there is a higher power than me as I am undeserving. I would never gloat, be prideful like it was my own doing.

Lots of miserable rich people and joyful poor.
 
debodun said:
I heard recently on TV that in America you have to have a net value of between 2 and 3 million dollars to be considered wealthy. I guess I still have some work to do on my finances! LOL

BTW - What dollar value would you consider wealthy?
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this thread was put in the financial section for a reason ...the op was talking about MONEY .. i think this discussion should be moved to the doctor phil forum at this point as it is no longer has anything in common with the op's question pertaining to money ...

he did not ask about anyone's health , their family , their religion , spiritual beliefs or anything else other than M-O-N-E-Y
 
The financial ability to sustain a lifestyle of contentment through the end of one's days without having to work another day for it. Contentment means different things to different people depending on their level of materialism.
 
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