2007-02-28 02:10:19 · 14 answers · asked by Barbara Doll to you 7 in Business & Finance ➔ Personal Finance
Annual salary alone doesn't determine whether you're rich or not. I'm a financial planner, and I've seen families who make well over 100k a year and have nothing to show for it but a house and cars they can't afford. If you have nothing saved or invested, you can make a million dollars a year and still not be rich. Robert Kiyosaki says that your wealth depends on how long you can live without working and still pay your expenses. You should focus on net worth and not on salary. If you make 30k a year, but you have a million dollars in your 401k, then you're a millionairre. If you make a million a year, but you have nothing saved, then you're just someone who makes a million dollars. You're rich when you're financially free and independent.
2007-02-28 03:17:43 · answer #1 · answered by bernard 2 · 3⤊ 0⤋
Being Rich like a lot of things is a state of mind. To some Earning a Million dollars a year is rich while another earning $ 10,000 a year but happy with having a roof over there head and good health and being happy feel as much or more successful than the other.
2007-02-28 02:23:02 · answer #2 · answered by Scott 6 · 1⤊ 0⤋
Practically nothing. I am a extremely rich man and I am disabled. I cant earn a vast amount. I have a family though, a wife that loves me, an amazing kid and hopefully an other on the way. I am extraordinary rich, I bet with out all of your money. I am also happier.
2007-02-28 02:18:15 · answer #3 · answered by doctordog1uk 3 · 1⤊ 0⤋
You should only consider yourself rich when your net worth is greater than 1 million. I believe this is what the gov't defines the 1% of U.S. population as rich.
In contrast "rich" is define by the individual. Someone making 100000 year make think they are rich, while other net worth 1, 10, 100 million may be their minimum amount for richness.
2007-02-28 03:04:10 · answer #4 · answered by ballin2crazy2003 2 · 0⤊ 0⤋
Being Rich is a State of Mind & In Balance of Comfort.
Any taste of life can make you feel very rich or very poor.
You are the PRODUCT of your environment. The Key: To learn how to manage the State of mind - You become Rich & Successful
2007-02-28 02:24:43 · answer #5 · answered by honker 4 · 0⤊ 0⤋
It depends on where you live. Someone making $55K in Kentucky would be better off than someone who makes $55K in New York. It all depends on the cost of living. It's expensive to live in big cities like NY, LA, DC because everyone wants to live there they jack up the prices of apartments, cars, etc.
Another thing is you have to think of your personal expenses. After all your bills are paid, what do you have left to bank.
2007-02-28 02:21:56 · answer #6 · answered by Kellie S 1 · 0⤊ 0⤋
I dont want to be rich- I want to be wealthy. So it is not so much about how much I earn but what I do with it to get it to generate more by itself.
2007-02-28 02:21:37 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Do you want to understand one of the reasons typical Law of attractionproduct does not work for so many people?Think about it like a diet plan. If you want reduce weight and you strive to lose it
2016-05-17 15:15:15 · answer #8 · answered by Sally 2 · 0⤊ 0⤋
2 million
2007-02-28 02:29:41 · answer #9 · answered by Anonymous · 1⤊ 0⤋
i wouldnt consider myself rich til the day the total income (me + husband) will be 100K + a year
2007-02-28 02:20:55 · answer #10 · answered by GorGeous_Girl 5 · 0⤊ 0⤋