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How much money would you consider rich?

Discussion in 'Off Topic [BG]' started by 48thStreetCustom, Nov 1, 2013.


  1. 48thStreetCustom

    48thStreetCustom

    Nov 30, 2005
    Colorado
    Not income, but if you won the lottery... How much money would you need in the bank to consider yourself rich? $100K? $250K? $500K? $1M? What's your number?
     
  2. Floyd Eye

    Floyd Eye Banned

    Feb 21, 2010
    St. Louis
    These days you would have to be pretty smart or lucky to survive a lifetime on a million bucks.
     
  3. fjadams

    fjadams

    Jun 7, 2011
    Danbury, CT
    I've always wanted to grow up and be a thousandaire, still waiting.
     
  4. Staccato

    Staccato Low End Advocate

    Aug 14, 2009
    Alabama
    No debt, and there's enough personal money on hand to pay monthly bills for years. And, you own a cash business (with no debt) where you work long hours, and constantly turn down business due to being too busy with existing orders.

    ^^^ Forget about a number. That paragraph spell rich!
     
  5. DerHoggz

    DerHoggz I like cats :| Banned

    Feb 13, 2009
    Western Pennsylvania
    If I could get an annuity of $100,000 as a single person I would consider myself well off.
     
  6. DerHoggz

    DerHoggz I like cats :| Banned

    Feb 13, 2009
    Western Pennsylvania
    I am getting to where this will be a constant, I get up there, but then something always comes up. I'm on a college gap year though.
     
  7. Milk

    Milk

    Sep 16, 2013
    Montreal, Canada
    Yeah a 100 000 a year would be rich for me... Actually in my current situation (cheap rent, no cars, no debts, reasonable electricty phone and cable bills) if i made 50 000$ i'd have more money then i'd know what to do with.
     
  8. 48thStreetCustom

    48thStreetCustom

    Nov 30, 2005
    Colorado
    Not income, not annuities. I'm talking about one lump sum.
     
  9. Stumbo

    Stumbo Wherever you go, there you are. Supporting Member Commercial User

    Feb 11, 2008
    the Cali Intergalctic Mind Space
    Song Surgeon slow downer software- full 4 hour demo
    I think winning ($40 million) to invest and live on for 40 years would be good for me and the wife. No work, no worries about retirement, great health care, help kids/grandkids and live by the beach (to relieve my allergies). Ahhhh.....life is good.
     
  10. Milk

    Milk

    Sep 16, 2013
    Montreal, Canada
    Well...I'd go batpoopie if anyone gave me even 20 000$.

    But actually fairly rich and not worried for many years?, maybe 500 000?

    I mean let's say i didn't change my current habits at all, i could live 43 years with 500 000 (i actually counted, that's bills rent and food, no extras). Of course, that'd be stupid. With that kind of money i'd want to move somewhere nicer (well buy a house likely) and get some stuff i always wanted. But i still think i could go 20 years easy on that.
     
  11. Anyone thats has a full time job thats not paying school loans. Lets face it.
     
  12. sotua

    sotua

    Sep 20, 2004
    SF Bay Area
    Enough to not *need* to work ever again while maintaining a comfortable standard of living.

    (Currently I have a comfortable standard of living, but the wife and I bust our collective ass for it)
     
  13. DerHoggz

    DerHoggz I like cats :| Banned

    Feb 13, 2009
    Western Pennsylvania
    Pics or it didn't happen.
     
  14. To me, rich would be the ability to not have to work another day in my life.

    I'm 21, turning 22 in a few months. Lets say I live until 80, that's 58 years. I figure living a nice lifestyle and buying a house will be around $70000 a year. We'll drop it down to $60000 a year considering the house was bought in one lump sum. That's 3.48 million dollars on (lavish) living expenses. I do think it's possible to live a decent lifestyle on 60k a year, especially if your house is already bought. We'll assume inflation doesn't go up.

    $4 million and I'd consider myself rich, being able to support my mother, and put my kids through school. I'd donate if I knew I'd have a good chunk of that left, as well as leave my children a nice amount.
     
  15. Munjibunga

    Munjibunga Total Hyper-Elite Member Gold Supporting Member

    May 6, 2000
    San Diego (when not at Groom Lake)
    Independent Contractor to Bass San Diego
    I wouldn't consider myself rich with less than $10 million, and that still wouldn't be really rich. Around these parts there are a lot of homes that cost over $5 million. If I had a choice, I'd want $100 million minimum. Then again, a cool $billion would be nice.
     
  16. Munjibunga

    Munjibunga Total Hyper-Elite Member Gold Supporting Member

    May 6, 2000
    San Diego (when not at Groom Lake)
    Independent Contractor to Bass San Diego
    That said, I was doing a career day presentation at a middle school in an underserved area, and one of the students asked me, "Are you rich?" I responded, "No, I still have to go to work every day to pay my bills." "Can you eat at Burger King," he asked. "Yes." "You're rich."
     
  17. pedroims

    pedroims

    Dec 19, 2007
    Michigan
    At least 5 million after taxes
     
  18. jmverdugo

    jmverdugo

    Oct 11, 2012
    Katy TX
    Winning the lotery is a very tricky business, if you get $40 millions and you want to start living as a millionaire then you better invest that wisely and / or get a work that would get you a million a year. Just by buying a $5 mill home you are adding a $500k per year expense.

    I make a decent living right now, I like my job, I like the friends that I have in my current situation and the things I get to do, for me getting $10 million in the bank after taxes would be more than enough, much more than enough actually to consider myself rich... I would have to disappear for a while though because all my wife's relatives would show up immediately and me ain't giving no money to nobody! ;)
     
  19. icks

    icks

    Jul 12, 2001
    Charleroi, Belgium
    I'll consider myself as rich if I win 1,000,000€.

    I'll work half time to keep my feet on solid day to day perspective, keep in touch with friends and collegues, invest my money to get a monthly income of interest.
    I 'll build my dream house and visit the world one or two month per year.
     
  20. Mike M.

    Mike M.

    Feb 14, 2010
    I'm 60 and for me, "being rich" would mean having enough money to retire now and to satisy my needs and wants for say, the next 25 years if I live that long. I live very modest, I don't take expensive vacations and I love where I live. Yeah, just enough to fix up my little house where it needs it, get the yard looking right and to keep me right where I am.

    Very conservative guess.....if invested right and including money to help family (without going overboard), maybe 3 million.
     

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