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/biz/ - Business & Finance

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268358 No.268358[DELETED]  [Reply] [Original]

How do you personally define 'rich'?

I personally use political enfranchisement as a meter for wealth -- if you're able to lobby congress and change the law to get more money you're rich

>> No.268366

Being able to purchase 4 other human beings time on a continual basis for non buisness related activities. who are not considered poor. Then you are rich.

>> No.268370

If your buddy calls you up and says "Hey, you at my wedding yet?". You then realize it's in the Maldives, and you're in the United States.

If you can get there within 40 hours, you're pretty damn loaded.

>> No.268379

A butler, body guard, chef and a driver.

>> No.268380

>>268379
see but none of those will protect you from the state so I feel that you just have something worth taking at that point, not real wealth

>> No.268405

bumpan i want more answers

>> No.268429

>>268380
>implying the ability to hire a team of lawyers to defend your stuff doesn't put on a completely different level from the working stiffs

>> No.268451

If I'm feeling greedy, then it's when the limits on what you can do dont include money.

>> No.268459

So for millions of years before civilization all humans were slaves. Great logic m8.

>> No.268461

>>268459
The food and shelter were their earnings, so sort of, I guess.

>> No.268464

When your passive income beats the average income.

>> No.268474

Two standard deviations above both the average income and net worth.

>> No.268476

>>268358

You're rich when you no longer give a shit about any purchase under $1,000.

This is my definition and anyone else's is bullshit as far as I'm concerned.

There are a lot of plebs on this board insinuating that making over $80k a year is "rich" which is a fucking joke.

A $1,000 purchase is something you feel until you're over the million dollar barrier.

So if you wanted to be really technical, I'd say you're not rich until you have over a million dollars in play money.

>> No.268480

i started considering myself rich when i could go an entire month without planning my budget at all
i'm at the point where i just pay my bills and buy things with no regard for how much money i have left. that's being rich

>> No.268485

Literally no one is making exactly enough earnings to purchase food and shelter with no savings left over. Even if it is a few pennies a week, there is still the opportunity to save, especially if you pool your resources with others.

>> No.268490

>>268459
>So for millions of years before civilization all humans were slaves. Great logic m8.

You're fucking stupid.

>i like to argue for the sake of it

If people had the ability to sustain themselves in the "old way" without money they are 100% free.

It's when sustaining yourself is dependent on money and that money can only be earned by laboring - and you have no option to sustain yourself by "free" methods i.e. hunting gathering and the like, that you are a slave, and if by definition you are laboring for others to get the paper needed to exchange for resources that you could otherwise gather yourself (in a 'free' society) - you are a slave, because even a pre-Sumerian caveman faggot is more free than that.

>> No.268510

Yes Goyim.
You see since they are all slaves and feudal class workers, they all have specific skills that make the existence of shekels a thing. If one person had all the skills necessary to survive (hunting,butchering,farming,cooking,building,plumbing,electricity,carpentry, etc) then money would be useless. Now since money is a thing, the people with the most money, have the most freedom. The reason why this is usually born with it, or really lucky (genetic lotto / right friends) or simply born Jewish.

Shaloam!

>> No.268539

If you can decide to buy something that looks expensive before knowing the price.

>> No.268570

More money than is possible to spend.

>> No.268581

>>268358
I guess my definition of 'rich' would be when you're able to live a somewhat comfortable life almost entirely from the returns on your capital. I mean, historically, not having to work to survive would put you in top percentile of humanity.

>> No.269808

>>268464
>>268581

Pretty much this. If you HAVE to work to maintain your current standard of living, you're not rich.

>> No.269820

>for one individual
Net worth over a million dollars, plus an extra 500K for each dependent

>> No.269826

>>269820
That's hardly rich in any developed country. Only in a poor 3rd world country would one million be rich. You couldn't live the rest of your life off that elsewhere.

>> No.269845

Amazing how may people talked about the ability to buy things as a measure of wealth. I don't think I'm rich and yet I have too much stuff. I want to get rid of many of the things I own (yet there are things I own that I'd like to replace with a nicer one).
I wouldn't consider income at all. I'd only look at net worth and the ability to sustain one's lifestyle without working. I wouldn't consider any hunter/gatherer to be so "free" as when they became ill or old they had to depend on the charity of others.Leading a less consumptive lifestyle would enable one to be rich with less money than another might need.

>> No.269861

Being able to do whatever you want without having to look at the cost of any of it. Not due to being irresponsible, but simply having more than enough money where getting, say, a plane ticket for $140 vs $180 doesn't make a difference anymore.

Being rich is when your schedule is what matters, not everyone elses, and you're time is the most valuable thing to you.

>> No.269900

>>269845
>Amazing how may people talked about the ability to buy things as a measure of wealth

no, it's the ability to buy things without impacting the living standards of the average person which people are defining as rich.

>> No.269903

It depends on the person. Some people feel rich with $60K. Others think $60M makes you rich. I think the freedom to buy whatever you want without staying on a budget/saving for it makes you rich. Whether you want an Audi or an Aston Martin, defines that amount.

>> No.269907

When you can afford to be extremely materialistic AND not worry about money. Then you're rich.

>> No.269916

Can you live your ideal lifestyle for the rest of your life without ever receiving any more income?

If yes, you are rich.

>> No.269933
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269933

>>268459
Dude, bro... we're like... all slaves to something, man.

>> No.270208

>>269916
I think the issue with this is that 'ideal' lifestyles tend to change over time, the hedonistic treadmill

>> No.271994

I consider myself "rich" because I can east what I want and how much I want, and live in a nice place.

but I'd like to be rich enough not to have to work to live like I do now

>> No.272017

passive income > active income
passive income > $100k

>> No.272046

If you can bring in six figures annually from interest without working at all indefinitely then you are rich.

Anything less and you are merely upper middle class

>> No.272097

>>269826
>implying that capital gains on 1mil dollars would not be enough to live on

TFW 4% SWR gives you 35-40k easily each year.

The fuck is your definition of rich, Hollywood mansion and hookers every lunch and evening?

>> No.272102

>>272097
Cont. 35-40k is more than enough to live a very good life, anyone spending more is buying designer shirts and rolexes and wondering where their money is disappearing.

The ones who always desire for more will never be truly rich. Some people know when to leave the rat-race, others don`t.

>> No.272112

>>272102
You're not truly free at 35-40k. You can't even live in a lower middle class neighborhood in a big city on that salary.

300K minimum in passive revenue. That gives you the freedom to live anywhere you want and still have money left over to do whatever you want.

>> No.272119

>>272112
Why in the world would you move to a middle class big city if you didn`t need to work to get by?

Move to a tropical Island, South America, SEA, Spain. Anywhere except an expensive suburban neighborhood.

The greed shines through you, lmao.

>> No.272128

>>272119
It's also a good idea if you do that to put your money in a bank that does not cooperate with the IRS but operates where you live. Then you can escape the taxman with some simple deception

>> No.272130

>>272128
Not really relevant, capital gains taxes are minimal anyways. Not worth the hassle.

Also, you will have to pay taxes to the government in which you have the money anyways.

You can`t move money anywhere to expect to pay zero taxes.

>> No.272140

>>272119
I don't know why, that's beside the point. If you can't afford to live comfortably in any state, you're not rich. You'll be scraping the barrel with 40k in any big city and you won't have any money left over to compound after living expenses.

You need at least 5 million in net worth to comfortably retire.

>> No.272171

>>272140
No sane man wants to live in a big city if he is able to retire to any paradise island on earth.

I`d rather live in a shed than in a suburban town.

You do realize that SWR means safe withdrawal rate, meaning that you can withdraw 4% yearly indefinitely without losing any actual capital?

>> No.272175

>>272171
You still haven't gotten my point. You're not rich, you're just well off. A rich man can retire anywhere.

>> No.272180

>>272112
Move to Austin. 40k can go a long fucking way here. I live on 15k at the moment with two roommates. 20k would preserve my current lifestlye living by myself in a cheap apartment. 40k would see me filling that apartment with more guns, computers other fun shit than I know what to do with.

>> No.272194

>>272180
I'll consider it if I ever want to live in a cheap apartment for the rest of my life with only 40K a year.

>> No.272208

>>272194
Don't knock it till you try it. I'm pretty comfy as-is. I just want more wiggle room and toy money.

>> No.272252

Having wealth to the point where you have no material worries.

>> No.272255

>>272175
Greed is a strange thing...

>> No.272261

>>272194
Tell me what "happiness" a big mansion or new car will bring? Nothing, just a temporary "boost" that is over faster than you can even blink.

You are severely deluded if you believe a million dollars will not give you a comfy life. Try being less materialistic or else you will never gain financial independence as there are ALWAYS more toys for sale for "rich" men.

>> No.272282

>>272208
I've already lived in cheap apartments on peanut salaries. It's not for me.

>>272261
I don't want mansions or big cars, save your trite hedonic treadmill rhetoric for someone else.

Where are all these plebs who think 40K is a lot of money coming from?

>> No.272284

You're comfortable when you no longer have to worry about the price of your daily life.

You're rich when you no longer have to worry about your continued income.

>> No.272346

>>272282
The million dollar question is "why the fuck do you need more than 40k a year". Seriously.

Wealth is relative, you sure are a dumb fuck if you don`t realize that. You should stop and think about the fact that not everyone views "wealth" in the way you might do.

>> No.272354

>>272017
I think if you're making $40 k in passive income and finding a way to live on that, it's way superior than laboring away 40 hours a week for 100k.

>> No.272944
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272944

>>268358
According to numerous sociological studies the ratio of happiness and personal fulfillment to money earned dramatically flattens at around $75,000 (in the US).

Now there are personal differences, regional cost variations, and this info may be a tad dated. So I put my goal at $95,000 but given my budgeting review it is more like $80,000 assuming I don't live in an really expensive city.

Another way I sometimes measure it is if I can drop $20 a day on a nice meal at a reasonable restaurant, plus gas and time, say $35 a day without worry or detracting from other things then I am feeling good about things.

But really dollar values are not the best measure as I've been borderline homeless and very happy and free. I think everyone should go through a month or two of borderline homeless to help reset their value system, to help bop all the spoiled losers we have. You really appreciate things when you've done without.

After $100,000 I really wonder what people do with all that money, it is likely a different story if they children. But even then one can shift hobby money to childcare as children are like a hobby in many ways, unless you are some terrible person that sees then as only a drain in which case do us all a favor and don't have children.

>> No.272956
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272956

It's ironic that despite the fact transport and migration has never been easier, we traveled far more in pre-societal times.

This is what kept us happy. Constantly exploring, expanding and having something to do. Depression stems from lack of stimulation and living a monotonous lifestyle.

In short, mix up your routine, travel, or be miserable.

>> No.272968

>>272354
>not making 40k passive income and slaving for 20 hours a week to earn another 40k
working is enjoyable as long as you don't do it too much