Quote:
|
Originally Posted by SteveFromNY
Chris Rock the comedian does a hilarious comparison of Rich vs. Wealthy. He claims Oprah is rich, while Bill Gates is wealthy. He says if Bill Gates woke up one day with Ophrah's money, he'd jump out a window.
By his standard, I'd say I don't think I know any rich people (although I've met a few through my life).
But back to the topic - what is rich? I'd probably say a net worth of $5 million. So the earlier comment about $250K to $300K would require around $5 million in worth to generate that $250 to $300 annually at 5% to 6% return.
I like that "more money than month" too, and will feel free to use it.
|
From a finanancial perspective, I guess that is an amount I would consider as rich. I'd probably say $3 or $4 million on up as far as net worth (not considering homes owned). I don't think its too uncommon to have at least $1 million which to me seems to be upper middle class income.
What do you think SamHass?