great thread!

rich to me means having enough so you dont have to work and you have enough to give your good friends so they dont have to work anymore and can traverse the globe with you. probably around 6-8 million liquid.

 

being able to whipe your arse with 100 dollar bill and not regret it.

 

Having enough residual income that you never even have to think about money again.

 

And if a bus hits him tomorrow, he'll be making a $2 million donation to the feds.

IMO, the true definition of being rich is being happy, regardless of how you spend it or save it.

 

Which is Chris Rock's version of the old saying "Rich people make a lot of money, wealthy people sign their checks".

Warren

 

Having more money than me.

I think I am poor but the dirt guy doing the work on my new home calls me the "down to earth rich guy"

Rich is relative, unless you have (old) rich relatives.

 

To me, "rich" has a derogatory connotation. I think that there is a distinction between "rich" people and "wealthy" people...

Wealthy people have a lot of money - enough that they don't really need to worry too much about how they are going to pay the bills this month or money in general. They may have a lot of toys and bling too. But there are also a lot of wealthy people who do not feel the need to show off how much money they have to their peers. Many wealthy people are happy simply living mostly worry-free lives without drawing unnecessary attention to themselves.

Rich people want to appear as though they are wealthy. They probably do have a high income, but they spend almost all of it. Rich people have a lot of fancy toys and bling to make themselves appear to be wealthy to their peers. But they also have a lot of bills and relatively little wealth or savings as a result of them living above their means to maintain a lifestyle that they cannot really afford long-term.

Andrew

 

Don't know what is rich and don't care really. I think it is a state of mind though. Winning the powerball would be great but too many people equate being rich with happiness and they do not go hand in hand (unless I guess you are Paris Hilton shallow)

A friend of my family has about $50 mill in commercial real estate that cash flow him after expenses several hundred thousand a month. The guy has (that I know of) a multimillion dollar house, a hobby horse farm in the city, a cabin on his own private lake stocked with fish, vettes, flys his own A-Star helicopter, owns a sea plane, has a cushy condo in a marina in Florida next to his cigarette boat with 3 500hp engines and his $3mill yacht. I am sure he has other stuff too that I am forgetting. The guy is usually miserable, has few friends and fueds with his family.

Another guy I know was an only child and his Dad died owning several small banks with a net worth of $100 mill. This guy had access to most of this money at about age 19 because his dad drank himself to an early grave. I lost touch with him but last I heard he was drinking himself into an early grave like his father.

Chapelle walked away from $50 mill because the money did not make him happy.

What good is being rich or "wealthy" if you hate when you get up in the morning?

 

Rich = not having to think about how you're going to pay for something. As someone else mentioned, that probably means that you don't have to work to support your lifestyle.

Thus, if you lived in a one room cabin in Arkansas and drove a 1972 Ford Pickup, that probably means you have $50K in the bank and hunt your food.

If you live in California in a 10 room mansion, that probably means you have $20M in the bank and have three employees to shop, cook, and clean for you.

 

Sounds like just about every NFL and NBA player's lifestyle.