5 million dollars net worth
1.5 million dollars in stocks
50K in the bank and $300 thousand in retirement?
house bought for 150 thousand now worth about a million or near to
JUST WONDERING
wealthy or well to do?
upper middle?
2007-06-07 12:08:32 · 8 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
I don't consider myself wealthy necessarily.
2007-06-07 12:15:38 · update #1
live outside washington dc... have part time job not to eat into capital but live off interest.. try and to be frugal
2007-06-07 12:35:15 · update #2
other investments not mentioned in realestate and other stock accounts
2007-06-07 13:17:45 · update #3
Upper middle class
I can't believe someone said "lucky"! This person worked hard and made good choices. That is not luck, just wisdom.
2007-06-07 12:48:47 · answer #1 · answered by Anonymous · 0⤊ 1⤋
To the extent any of the numbers mean anything, the net worth is the only number that does. I could own everything else mentioned and owe $2 million and still be broke. That said, If I had a $5 million net worth, I could work HOW I wanted, WHEN I wanted, and IF I wanted. That is MY definition of wealthy. Others define wealth differently.
2007-06-07 12:33:04 · answer #2 · answered by STEVEN F 7 · 1⤊ 0⤋
This is a person who does not truly fathom money at all...you have stated several numbers that INCLUDE each other! If this person's "net worth" is $5M, that INCLUDES the stocks, the house, etc., so in reality they have planned very poorly to be in a situation where so much of the $5M is basically "home equity". And anyone with $50,000 just sitting in a bank might be comfortable, but they're a fool!
You need some financial counselling!
2007-06-07 12:54:42 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Wealthy as Robert Kiosaki puts it: is to have enough money in investments, that allows you to live off the income from those investments, with out having to work.
2007-06-07 12:39:56 · answer #4 · answered by tastoller 2 · 0⤊ 0⤋
Wealthy because he or she is rich in mind, able to continue expanding his her/potential and has the gift of planning for emergencies as well as retirement. Whether you reveal your profile is of an 18 or 80 year old, the results are not current monetary value, but his or her personal values as he/she has obvious business acumen, has not been arrested and not wasting time by complaining of his/her lot in life.
2007-06-07 12:24:09 · answer #5 · answered by Anonymous · 0⤊ 0⤋
It's all a mater of perspective. To a McDonald's worker it looks like a lot. To Bill Gates, you're a pauper.
2007-06-07 12:16:55 · answer #6 · answered by Angie 6 · 0⤊ 0⤋
id say hes not REALLY wealthy but, he is kinda in middle.
2007-06-07 12:17:07 · answer #7 · answered by Kade 1 · 0⤊ 0⤋
Lucky, thats all.
2007-06-07 12:13:29 · answer #8 · answered by Patrick G 4 · 0⤊ 0⤋