can I consider myself to be wealthy?
2006-12-21 02:06:20 · 22 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
thank you deadman...your answer can only mean one thing...
2006-12-21 23:53:38 · update #1
I guess it depends on your other assets - property, investments etc.
I'm not sure just having £100k in the bank classes you as 'wealthy' but I would say it means you are 'comfortable'.
However, if you own property, have no debt and still have £100k in savings, then maybe.....
2006-12-21 02:19:51 · answer #1 · answered by angelina.rose 4 · 0⤊ 0⤋
Not only does it depend on your other assets and debts, but also:
1) how it's invested... is it earning a decent interest rate, or is the value eroding with inflation?
2) your age.... are you 20 or 60? If you are young, 100K of net worth is a good start on your retirement nest egg. However, if you are 60, that money is not going to go very far when you retire.
2006-12-21 04:11:32 · answer #2 · answered by Allan 6 · 0⤊ 0⤋
This depends on your lifestyle and your plans for the money.
If the 100K is in an account and you are saving it then yes. Seek professional advice on how to invest it wisely.
If the money is to be used to fund a purchase i.e. house, then no.
If you are spending the money to supplement your lifestyle, then no.
Depends on the ratio of your savings to your income. Earn £10K pa then yes you are wealthy, earn £100K pa then no.
The question is, do you feel wealthy. Only you know the answer to that.
2006-12-21 02:13:19 · answer #3 · answered by Valiant 3 · 2⤊ 0⤋
yes but not as wealthy as me. But it's a start so keep up the good work.
2006-12-21 02:16:20 · answer #4 · answered by Anonymous · 1⤊ 0⤋
Not if it is 100k Iraqi dinars.
Has it ever occurred to you that there could be other currencies in the world, besides the one you are holding?
2006-12-21 02:15:41 · answer #5 · answered by Anonymous · 0⤊ 1⤋
why boast my partners dad is a millionaire & misrable no holidays goes out one day a week all he does is look at stocks & shares & smoke ,drink himself to death
if money makes your world you are a sad person.family ,health, love , skint makes mine& I am probably more happy than you
2006-12-21 02:36:37 · answer #6 · answered by miss smidgey 4 · 0⤊ 0⤋
If your total assets less your total liabilties = 100K then yes.
2006-12-21 02:09:56 · answer #7 · answered by Anonymous · 1⤊ 0⤋
Liar
2006-12-21 02:08:06 · answer #8 · answered by Anonymous · 0⤊ 2⤋
Yes! comparing to those who have no house, no cars, no jobs
No comparing to those who has no debts, no mortgage but with big house, with more money than you
2006-12-21 02:15:00 · answer #9 · answered by YourDreamDoc 7 · 1⤊ 0⤋
and? i am £200 overdrawn do i consider myself poor??
2006-12-21 02:17:04 · answer #10 · answered by jizzumonkey 6 · 0⤊ 0⤋