Who is rich?

It’s all based on perspective, I guess.

Gallup: Americans Set “Rich” Threshold at $150,000 in Annual Income

Americans say they would need to earn a median of $150,000 a year to consider themselves rich. However, 30% say less than $100,000 would be enough, including 18% who would consider themselves rich if they made less than $60,000 a year. On the other hand, 15% say they would need to earn at least $1 million per year before thinking of themselves as rich.

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6 Responses to Who is rich?

  1. notamobster says:

    Back when I was making pretty good money – I was in the low 6 figures – I lived comfortably but I sure as hell wasn’t rich.

  2. Kenneth says:

    The problem is that if they determine what number makes you wealthy, thanks to inflation, everyone will eventually be wealthy, and everyone will be taxed at the higher rate.

    Frankly, it only makes sense that people see others making more than them as wealthy. I’ve heard many people, myself included at times, say that if I could only make $XXXXX per year, I wouldn’t have any money problems. Of course, when I reached that number, I found that an adjustment of lifestyle cancels out the benefits. It’s too easy to succumb to the temptation to accept the lifestyle change that an income change brings.

  3. notamobster says:

    Kw: private school for 4 kids (not cheap ) SUVs and such…. Adjustments?

    I’m a ghetto kid/country boy (oxymoron that my life is) what ever are you talking about?

    Paying for school just sounds ridiculous until you face the spectre of putting your kids in school in lousyanus.

  4. Kenneth says:

    Absolutely. When I made $30,000 a year, my $600 a month apartment suited me just fine. With a wife and more money, a house seemed like a logical progression. Sure, there are plenty of things I have that I don’t need, but it’s my choice to spend my money however I choose.

    I don’t begrudge people with more money for the same reason. No matter how much they make, they will find a way to spend it. In spending it, they help create jobs. Even if they don’t, it’s their money and their business. Your example is perfect. If you can afford to, why the hell shouldn’t you be able to spend as you choose to give your family the best opportunities? Those opportunities only increase with more income.

    I don’t pity anyone with less money either because when I was in that situation, I made it work, exactly like I will if I’m ever in that boat again. While I haven’t wanted for much as an adult, we were dirt poor growing up. It sucks, but it’s survivable.

  5. RJ says:

    I’m rich, thats why I spent all day today workin on a 1999 car with 195k miles on it, I’m so rich I don’t wanna get something better…

  6. Locke n Load says:

    Rich, lol. What a perfecxt target for socialist propoganda. Just like class, rich is largely a perception thing. Gotta agree with Ken and Nota, rich is relative.
    Me, I think of rich differently. I’ve got a gorgeous wife, 3 beautiful daughters, a home full of love and craziness, and a way to pay for it all. Thats rich.

    It ain’t about what you want, its about wanting what you HAVE. Most of the rest is just BS anyway.