How much money would you need to feel rich?

[Bob Of Burleson]

Here's How Much Money
Americans Would Need
To Feel 'Rich'

Katie Simon
BusinessInsider.com

About a quarter of Americans believe they could be wealthy one day. Are their dreams realistic?

It comes down to a matter of perception: the definition of rich depends on many factors, including your current income. The more money you earn, the more money you believe it takes to be “rich.”

According to a recent survey, people think it would take anywhere from $10,000 to $4 million a year to feel rich. Nearly 75% of the 1,000 survey participants responded that it was unlikely they would ever be rich, while 20% believed it was at least somewhat likely.

Researchers also looked at how demographic factors affected people’s willingness to believe they could be wealthy. Political independents, women and those without college degrees were less optimistic than partisans, men and college-educated respondents. 28% of those who lived in urban areas believed there was some possibility of becoming rich, compared to 18% of suburbanites and just 5% of people in rural places.

Relationship status also came into play: Single individuals were more hopeful than people in relationships (though that difference depended more on participants’ age) and divorced respondents were consistently less confident, regardless of age, gender, or current income.

Among households in the lowest income quartile (making under $25,000 annually), people believed $293,000 per year would make them rich. Households earning between $30,000 and $60,000 a year set the bar at $394,000, and those making between $60,001 and $120,000 put the number at $426,000. For the top 15%, or those earning over $120,000 annually, the number was $501,000.

Read more: http://www.learnvest.com/2014/06/how-mu ... z35Ti75XVx

[GFB]

It sounds like the questioner and people being questioned are all quite confused.

"Being rich"..whatever you think that number is..is not and never will be about how much you earn as income.

It's about what assets you have accumulated.

[kent]

Did they ask Hillary?

[John in Plano]

It sounds like the questioner and people being questioned are all quite confused.

"Being rich"..whatever you think that number is..is not and never will be about how much you earn as income.

It's about what assets you have accumulated.

Its a combination of assets and income.

A million dollar ( or multi) asset that doesn't product income and consumes income, house being one example, would give the illusion of being rich and forces one to continue to work.

A million dollar ( or multi) portfolio that produces income exceeding outflow is my definition of rich. No need to work.

I know people in example 1 and 2.

[GFB]

It sounds like the questioner and people being questioned are all quite confused.

"Being rich"..whatever you think that number is..is not and never will be about how much you earn as income.

It's about what assets you have accumulated.

Its a combination of assets and income.

A million dollar ( or multi) asset that doesn't product income and consumes income, house being one example, would give the illusion of being rich and forces one to continue to work.

A million dollar ( or multi) portfolio that produces income exceeding outflow is my definition of rich. No need to work.

I know people in example 1 and 2.

You like to quibble about details..so I'll do some quibbling of my own.

I think you are wrong.

The people spoke of how much they would have to EARN.

Income from investments are known as..UNEARNED income.

Quibble over.

[GFB]

..and obviously I meant "Financial assets."

..your Quibbleness.

[Red Oak]

A net worth of 4-5 million would make me feel "wealthy".

A net worth of 1-2 million would make me feel "comfortable"

A net worth of less than half a million would make me feel "worried"

[GFB]

A net worth of 4-5 million would make me feel "wealthy".

A net worth of 1-2 million would make me feel "comfortable"

A net worth of less than half a million would make me feel "worried"

So..how ya feelin'?

[Red Oak]

Like I ain't never gonna be wealthy !

[dublusk]

When I can fly First Class overseas!!

[John in Plano]

It sounds like the questioner and people being questioned are all quite confused.

"Being rich"..whatever you think that number is..is not and never will be about how much you earn as income.

It's about what assets you have accumulated.

Its a combination of assets and income.

A million dollar ( or multi) asset that doesn't product income and consumes income, house being one example, would give the illusion of being rich and forces one to continue to work.

A million dollar ( or multi) portfolio that produces income exceeding outflow is my definition of rich. No need to work.

I know people in example 1 and 2.

You like to quibble about details..so I'll do some quibbling of my own.

I think you are wrong.

The people spoke of how much they would have to EARN.

Income from investments are known as..UNEARNED income.

Quibble over.

the tax code can quibble over earned and passive income..its still income and income alone ( or assets alone) isn't the measure of wealth

go catch a plane

[Bob Of Burleson]

If Mr. Santa Claus came up to you on the street and asked: "How much cash money would you need to feel rich, how much would you ask for him to dig out of his bag of toys?

[knotlazy]

I always thought feeling "rich" meant feeling contented and happy with your life situation.

I feel very "rich".

[LibraryLady]

I always thought feeling "rich" meant feeling contented and happy with your life situation.

I feel very "rich".

+1

We are rich.

[FlashM]

A good definition is "rich" is having your money work for you, as opposed to you having to work for your money.