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What do you consider "rich"?
RichTeaBiscuit
Posts: 541 Forum Member
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We all hear a lot about "tax the rich", "Tories only help the rich" and "The rich get richer and the poor get poorer".
What do you consider rich? More specifically, why do you consider that rich?
Would anything change your opinion of what you consider rich?
What do you consider rich? More specifically, why do you consider that rich?
Would anything change your opinion of what you consider rich?
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I guess for rich I would say they would own at least two cars. Own their own home. Have over 200k savings. Go abroad at least three times a year. Umm live in an affluent area
Blimey, i just need to save up then! Ive got 4 cars, plus a couple of motorbikes, and travel a lot. My most recent car cost me 700 euros though, and is 63 years old, rusty, and immobile.
You're loaded mate
Of course you could also be rich by having a few million sat in the bank and sitting on your arse all day.
I agree, though I'd probably stick a lower limit of at least 40k household income on it.
I spent my Saturday night with a lot of Londoners who mostly earn more or the same as me. Difference is that living in the Midlands I don't have to think twice about my income, as I know my expenditure never comes close to exceeding it.
A mere £100K or £150K doesn't cut it then?
You can be financially "rich" but poor in so many other areas. Richness of life is not for me simply down to pure numbers on the bank statement. Another thing with apparently rich people is how they often have a lot of debts to pay back as well, trying to accumulate wealth through risk and all that goes with it. Plus I know people who earn an utter fortune and waste it constantly, whereas others who live by modest means know how to manage their money and spend and use it wisely. For what it might be worth from a man who is clearly worth many millions of pounds himself, Noel Edmonds on Deal Or No Deal often has said to players that a sum in the region of £50,000 will make them "very wealthy". It depends what you want out of money in your life I suppose after the obligatory outgoings.
But I'll add my customary note of caution here: Most rich people do not horde their wealth. They don't build houses from gold bricks nor use currency as fuel in fires. Most of their wealth is invested in financial instruments and as such it underpins and helps fuel the greater economy. A billionaire - even if they lie around by the pool all day - is probably doing more to promote and grow his country's economy than any of us 'wage slaves'.
- be living mortgage free or with a small mortgage
- can afford not to work
- have enough money to buy anything I want within reason without having to be save up for it (holidays, cars, an additional house etc)
- live in an affluent area
- Have enough to do all of that and have a large safety net financially.
To consider myself comfortable I would:
- have a small or easily manageable mortgage
- be able to afford most things I want, but still have to save for the bigger purchases.
- have a comfortable safety net financially.
I would imagine the majority of us here appear rich to a starving child in India.
Personally, I would say if you can afford to purchase 2 luxury items in a year then you are rich.
I dunno, I'd say a lot of rich people DO think about money and costs all the time, which for some is part of the reason why they are rich.
I wouldn't say I know anyone properly rich, but certainly well off and they watch their money like a hawk. They are always watching what it's doing and moving it around to make more money.
Not across a household in London or the South East. £60k to £100k i would say you were comfortable. £100k to £200k would be wealthy. And as i said, over £200k is rich.
It shows how relative these things are as 95% of people would class someone earning 400k a year as very rich.
Lol
"Rich" is a relative term. It means "substantially more assets than me".