What exactly is considered rich,....
I think its like when you can go out and buy anything and dont even have to ask how much....
Is this rich:
When i went to NY we got a basic room at the Ritz-Carlton and this guy infront of us got the top one and pulled out money in cash (it was per person to)
2007-06-25 01:39:51 · 3 answers · asked by liveyourlife♥ 3 in Business & Finance ➔ Personal Finance
13 definitly not a drug dealer lol
2007-06-25 03:00:08 · update #1
That's not necessarily rich. Just because the guy pulled out a wad of cash doesn't mean anything. He could have tapped his entire bank account to pay for that. And the fact that he pulled out cash is sending up red flags. Do you really think that someone that is wealthy would carry around that much cash? Sounds like he was trying to show off and impress people (unless your a drug dealer or something). Wealthy people are going to pay via credit card because if they ever got robbed, they can always cancel their card and if there's ever an issue, they have records to dispute anything that looks suspicious.
To be rich (my definition) is to have enough money so that you never have to work to survive. Just being able to buy anything you want without asking the price still isn't necessarily rich as any moron nowadays can get high limit credit cards and charge up enormous debts.
I know 1 family that is VERY wealthy and yes, they can buy anything they want and never ask the price. One member of the family purchased a $1.9 million home, didn't care about the price and wrote a check for the entire amount and never even blinked. But, notice that they paid it out of funds they already had and not on credit. Everyone in the family works, but they work because they want to, not because they have to. Their belief structure is to be productive in life and do something with it, not just sit on their behinds all day long and become a part of the "idle wealthy".
2007-06-25 02:37:27 · answer #1 · answered by 4XTrader 5 · 0⤊ 0⤋
Rich is high income, top few percentage earners. Rich people can accumulate wealth or be in debt up to their eyeballs. New money often buy things to impress others.
Wealthy is accumulated money enough to pass down to future generations. Old money, trust fund babies, they live the way they want not for show.
2007-06-25 02:57:48 · answer #2 · answered by shipwreck 7 · 0⤊ 0⤋
That guy was not necessarily rich. The other poster was right.
Rich is being able to live well forever on your current assets.
Without needing to work. You'd need at least half a mil and low expenses to do that.
2007-06-25 04:22:02 · answer #3 · answered by Big R 6 · 1⤊ 0⤋