Q: What is your definition of "rich"? In terms of either income or net assets. Obviously this is very subjective, but I'm interested to hear what people's definitions are.
Picture completely unrelated.
>>1056579
It's a complex issue anon
5+ mil networth
3-4x the income of your friend circle
>>1056579
1 mil liquid
(your house doesn't count senpai)
>>1056643
>tfw I have $9M net assets and just $200k in my bank account
I should not have bought so many houses/condos. I regret everything
>>1056650
what's your net ROI Mr Slumlord?
In my mind "rich" generally means well off. Income above $150-200k, liquid net worth (not including residence) above $1 million.
Wealthy, on the other hand, is the people who have lives that "normal" people simply can't fathom. Incomes in the multiples of millions per year, net worth of $20+ million.
Rich means nothing. That's just upper middle class. These people drive BMWs, entry-level Porsches, they fly first class or business class. They probably still work 40ish hours a week. Maybe they go on a cruise every summer.
Wealthy is what matters. These people live lives that are just... it just doesn't make sense to a normal person. Your son just turned 16? Sweet, he gets a McLaren. Honey, gather up the kids, we're going to fly to Monaco on a chartered jet (or maybe one that they outright own). I really like this business idea, I'm gonna put $5 million up for an ownership stake.
>Q: What is your definition of "rich"?
Someone with few desires. This can be achieved in two ways: work hard and smart to feed your desires, or train yourselves to be happy with a few things.
Basically, only the CEO and the stoic are rich.
>>1056714
What about the stoic meditating on a giant pile of cash?
>>1056579
https://en.m.wikipedia.org/wiki/High-net-worth_individual
HNWI is a standard for richfags.
>>1056659
I get ~4% return from rent money less condo fees+taxes, and then however much the property appreciates by. Last year those together totalled 8%.
>>1056579
When you are ready to die tomorrow without any regrets.
Eh, I'd describe people like this:
UHNW (30mm+ usd) - Rich/Loaded
VHNW (5mm+ usd) - Well-off/Affluent
HNW (1mm+ usd) - Decent or rich if under the age of 25
one who has enough money to live off interest or dividends without having to wagecuck and owns his house
