Am I rich?

Question

I am 33 yr old male, I currently own 2 service stations and make about 300k a year. Business are worth around a million bucks, own a million dollar home and have 2 rental properties plus about 250k in the stock market. Am I rich or just middle class?

Answer 1

You are only rich if you have satisfaction with how your life turned out and hopefully someone to share it with.

Uh... why do you call yourself Suzy if your a guy? Just wonderin'

Answer 2

Of course you are rich not like (Bill Gate) but your are Rich.
You own 2 service stations.
You make 300K a year. (I make 30k)
Your Business wort a million bucks.
You have 2 rental properties.
You have 250k in the stock market.
Your only 33 year old.
Your are Rich man. Period.

Answer 3

Being rich & being classy are related, but not completely interdependent. The fact that you feel compelled to ask OTHERS whether you are middle class indicated that you likely ARE middle class, regardless of your accumulated assets. The middle class being decidedly less secure in their status than those in higher or lower classes. For a thorough & hilariously honest discussion of this topic, get a copy of Fussell's book below.

Now I have a question for you: Do you OWN all your assets, or do you OWE mortgages on all of those properties? You will never be truly financially independent if you are beholden to banks. If you are serious about being "rich", read the book by Stanley below.

Answer 4

It depends on your liabilities.

If you are making payments on the million dollar home, then you don't really 100% own it.

If you have built up the service stations but had to take out hefty loans to get them, then you aren't as "rich" as some might think.

BUT

By most measures, you would be "rich", yes.

Answer 5

My guess is that you are in the top 5% nationally in wealth, and at 33 that ain't bad! Congratulations. Only question is how much you owe. However whatever you owe to have the assets listed you are doing very, very well. Remember, however, money is not necessarily happiness. Are you happy? If you had to choose would you rather be rich or happy?

Answer 6

Sounds like you're doing pretty well. Your annual income alone would place you in the highest income bracket (and tax bracket!). You've told us about your assets. Next step: add up the total value of your assets and the total value of your liabilities (how much you owe on mortgages, other loans, credit cards, etc.) and subtract liabilities from assets for a realistic picture of your net worth. Your job for the next 20 years or so will be figuring out a way to keep your wealth from dwindling away and planning for the changing needs of the future as you age, raise a family, and educate your children. You'll remain a millionaire longer if you don't live like one.

Answer 7

Your well off, and could be rich easily. whats your debt to income ratio, what is your equity in the business', any business partners? whats there share? Are you happy? Is this a quest for money or happiness? Do you have the time to do what you want 3 days of the week or are you tied down to the burden of business?

Answer 8

Is Suzy a conspirative name?

You're just in the upper part of the middle class.

You start being rich from up to 20 millions$.

Answer 9

No.

If you want to be rich then you need to increase your portfolio to at least $1,000,000.00 GBP and also open more service stations to make at least $1,000,000.00 USD annually and finally you need a business in Europe worth at least $1,000,000.00 EUR.

You are never going to be rich investing only in the United States of America.

2 rental properties are nice. But the real big bucks are when you BUILD 2 HOUSES and sell them.

That economy grows very slowly.

I am a Portfolio Manager and I will help you for FREE to increase your portfolio from $250,000.00 USD to $500,000.00 USD in less than a year.

I have over a decade of experience in the stock market.

Top 4 Answerer.

Answer 10

I'd say you have a rich fantasy life. What's wrong with you? Get some help "Suzy." P.S. If anyone doesn't believe me, look at the other questions this person posted.