How much is rich??

MAJ Badmotherfarker

is drinking a beer.
Oct 11, 2008
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Washington D.C.
So now that I've made my transition from mild-mannered grad student to an M-4 wielding death machine, I'm wondering what you all consider "well off"?

I'll give full disclosure (per usual):

Grad School: After taxes, $1800/month.

I can say that that sucked ass. Grad school was rough as hell.


Military: After taxes, $6,000/month.

Still not easy. Frickin rent in DC is $2,000 for a 1 bedroom.



Now, my question.... how much/month is "rich"?? Howard makes my yearly salary in a day. What is "rich" anymore??
 

Sirius Rich

Well-Known Member
Oct 11, 2008
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"rich" is a state of mind. As long as I can feed, shelter and protect my family, I am rich. But it does take about $200M/yr to do it comfortably. ;)
 

memebag

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Oct 11, 2008
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"Rich" is always more than you currently make, no matter how much you make.

I'm very comfortable on low 6 figures. Swimming pool, newish car, eat out a few times a week, daughter in private school, the occasional electronic gadget. I lived better on less before the daughter, but I wasn't half as happy.
 

Aaron

Moderator
Oct 10, 2008
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Now, my question.... how much/month is "rich"??
I wouldn't know... :(

I guess that it really depends on where you live. I'd have to make a lot more in California to be rich than here in South Louisiana, because of property values, etc.

I don't want for much... just wish I made more than I do now.
 

MAJ Badmotherfarker

is drinking a beer.
Oct 11, 2008
8,461
211
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Washington D.C.
"Rich" is always more than you currently make, no matter how much you make.

I'm very comfortable on low 6 figures. Swimming pool, newish car, eat out a few times a week, daughter in private school, the occasional electronic gadget. I lived better on less before the daughter, but I wasn't half as happy.

I can save $1200 or so/month, even after beer.

But... I get free health insurance. I make AFTER taxes $72,000/year ($110 or so gross) and it's still a little tight. But I make more than EVERY highschool teacher.

The rebublican party has tricked us, since 1994, into thinking that if we make $50k/year, we're rich. We're not. $250k/year is still watching bills.
 

Vargas

Molon Labe!
Oct 16, 2008
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Western, PA
I can save $1200 or so/month, even after beer.

But... I get free health insurance. I make AFTER taxes $72,000/year ($110 or so gross) and it's still a little tight. But I make more than EVERY highschool teacher.

The rebublican party has tricked us, since 1994, into thinking that if we make $50k/year, we're rich. We're not. $250k/year is still watching bills.

The key is to live below your means.

Even if you make 250K per year, you probably buy the big house with the big mortgage, the more exppensive car, etc.

really, If you're making less than 500K per year, you're probably watching the bills.

I make low 6 figures and we still watch bills in western PA.
 

TSS Taylor

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Oct 9, 2008
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www.tss-radio.com
I don't think being "Rich" is easily defined since it's always comparing to a standard. If almost all the time when you compare yourself to your peers, to your debt, to the people you grew up with, and the people you work with and you feel rich, then alas you are rich.
 

memebag

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Oct 11, 2008
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Lake Huntzing
Another perspective:

The global mean income for 2005 was $1,700. The average was $7,000. So if you're making more than that, you're doing better than average.