How to Know When You’re Rich

May 28, 2004 by Dane | 9 Comments
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Money Magazine: “My best friend and I have a friendly disagreement about what it means to be rich. He says that a million bucks would make someone rich, but I think it would take much more than that. How much money do you think someone needs to really be rich?”

What does being rich mean to you? Is it a million dollars? Ten million dollars? Is it a mindset?

Comments

gsmart on May 28th, 2004 at 9:23 am

Rich is content.

There are men who make a million a year; high cash flow but no net worth, as they piss it away. Mike Tyson had 300 M.

There are others who make 100K and are wise with their Money. They can create a high net worth.

The secular view of rich is to have enough that you never worry about spending.

The truth is that I know men like this (Bplus), and they are very poor in spirit. At a point wealthy folks don’t know who their friends are. Do they just come around for my money? A man in those shoes is always sick to his stomach.

If money is made out of greed it is never enough.

The question is what does a rich man do with his money, and why does he earn more… that is the question behind your question.
phil on May 28th, 2004 at 1:46 pm

if anyone would like to conduct experiments in this, please email me and i’ll tell you how big of a check to write in order to make me “rich.”

then i’ll keep a daily journal of my happiness index.
Cliff on November 6th, 2005 at 3:04 am

I heard an interesting idea one time that “millionaires” (people who had a million dollars) were rich in the past (mansions, boats, etc, etc) and that the modern millionaire earns a million+ a year instead of net worth.
Ted on January 27th, 2007 at 4:42 pm

JOKES. LOL. FAGSSSSSSSSSS.
Larry Ludwig on April 18th, 2007 at 7:18 pm

Just talking about actual money and not in the spiritual way.

I think it’s best described this way. How much money will it take to so if you wanted to (keyword here) never have to work another day in your live without affecting your standard of living. Right now I could stop working today and not have to work for 7-8 years. Every year I am pushing this out longer and longer.
Anita on August 9th, 2007 at 6:29 am

Provocative - I think my definition is this:
When you can just concern yourself with living your life, and not be consumed by an obligation (job) that distracts you from doing what you choose to do.
But since I’m not there yet, I don’t know if that’s correct or not.
But that is my goal - to just have to live my life, and not juggle a career. To nurture relationships and focus on things that have worth other than monetary value - like gardening, cooking, genealogy - and my family. I’d love to spend time with my aging relatives - and mine those riches of memory and family history. History read is no comparison to hearing of history experienced.
Mathias on August 21st, 2007 at 1:03 pm

A person who has a lot of money is rich, but the real question is “who is wealthy?”. The wealthy is the man who has all the time and money in the world. Someone who has a lot of money in the bank and no cashflow may be rich but are not necessarily someone who will be rich or wealthy in the future.
Terence on December 18th, 2007 at 2:26 am

My dad once told me, if you can live off the interest of the interest of the money you have then you’re rich. That’s why my dad makes a couple mil a year and he still doesn’t consider himself rich, cos we can’t do what i mentioned previously.
danakeith on May 14th, 2008 at 10:46 pm

Millions were not the only reason to be called rich.. It’s all up in you, a person who has a good deed, pure heart, etc. good things like that can be called as rich, the idea of having lots of money makes you rich were all just a mindset.