2007-01-08 08:54:17 · 11 answers · asked by Smart_Guy 1 in Business & Finance ➔ Personal Finance
Enough so that you can live comfortably on the interest.
2007-01-08 10:04:54 · answer #1 · answered by Darth Vader 6 · 0⤊ 0⤋
Well, that depends. To some people I'd be considered rich, even though I'm pretty solidly in the middle class. To Bill Gates it would take a lot to be considered rich - probably tens or hundreds of millions.
I guess maybe to most people "rich" is somebody who has a lot more money than you do, no matter where you are. Except to Gates of course, since there's nobody with a lot more than he has - and I'd suppose he'd consider himself rich, as does everyone else, although very few people would consider themselves rich.
2007-01-08 17:00:01 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
They mention this in the book "The Millionaire Next Door". Rich has nothing to do with how much money you make. Rather, the book says something like if you stopped all income flow into your house and you were able to still live like you do for a year with what you have in the bank, no credit card debt. Or maybe it's more then a year. I can't recall for sure. There are stipulations, like, a 17 year old that lives with his 'rents. Another factor is your "net worth"- what you bring in vs. what you owe. Someone with better knowledge of all that can better answer.
2007-01-08 17:05:57 · answer #3 · answered by aperture440 2 · 0⤊ 0⤋
I think it depends on who you ask. A homeless person might think someone that has a job that pays the rent and food is rich. A middle income person, living paycheck to paycheck might think having enough money to go on a vacation twice a year is rich. A millionaire that has greedy friends and family might think the middle income one living paycheck to paycheck but is truly loved by friends and family is the rich one. Who knows? What do you think?
2007-01-08 17:02:52 · answer #4 · answered by ? 2 · 0⤊ 0⤋
my definition of rich is not by how much money u have. My definition of rich is that u are debt free or u can pay off your debt anytime u want and still able to afford luxury items such as expensive sport car or buy gadgets u dont need. You have basic things in life such as a house, a car, etc...
2007-01-08 17:59:05 · answer #5 · answered by Doug C 2 · 0⤊ 1⤋
Depends on your lifestyle & where you live...
In Beverly Hills / Manhatten or any other exclusive neighborhood
you will probably need at least 50 million to be considered rich.
In many average US & European cities, 10 million would be wealthy.
In lots of places, a million dollars is still rich...
2007-01-08 16:59:14 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Long as you have enough money to survive live with food, shelter and able to pay your rent and utilities. After all, we don't get to take the million dollars with us when we die. Just be happy with the money you have and thank god in your prayers for everything. Being a millionaire does not buy love nor happiness.
2007-01-08 17:00:02 · answer #7 · answered by shashi c 2 · 0⤊ 1⤋
1 billion
2007-01-10 18:39:27 · answer #8 · answered by Anonymous · 0⤊ 0⤋
NONE. Rich is a mindset not a dollar amount.
2007-01-08 18:14:35 · answer #9 · answered by Ginger P 2 · 1⤊ 0⤋
Easy, when money is no longer a factor in your life!
2007-01-08 16:59:32 · answer #10 · answered by citronge69 4 · 1⤊ 0⤋