How much money would it take for you to consider someone wealthy or well off?
No specific amount actually. I consider someone wealthy if he can afford to stop working today and has passive income to allow him (& family) to live and maintain their lifestyle until his death, and still has wealth left to pass on to his heirs.
My definitition or criteria for someone being wealthy would be having enough money for a person with average intelligence and discipline to live off of just the earnings from interest, dividends, and capital gains without having to work if they wanted to. These days with a constantly increasing cost of living, I would say this would be around at least $10 million.
Some may consider this really high. The way I think about it though, being wealthy by definition means you have a high degree of financial security (though nobody is ever completely financially secure, even billionares can lose everything), meaning that they have a margin of safety against making financial mistakes, market volatility, and bad luck (major health problems, family issues, being sued, etc.) to the point that they would still be secure if these things happened. Also with inflation moving up so fast like it is now, my figure accounts for this natural erosion of purchasing power.
Then again I myself would just be satisfied with an extr $5,000
My definition changes as I get older or acquire more. It's always someone who is so much further ahead of me that I can't see myself getting there. But it doesn't make me jealous - never has done. Money, as long as you have enough to survive, is just about the least important thing.
Enough to give it all away to needy, then start over. This is not preposterous, look around..... there are some!
I think it is all relative/perspective. When I used to visit the lake I would see the people in their boats and think, "Gee I wish I had a boat." Then when I had the boat I would look at the houses on the lake and think, "Gee I wish I had a house on the lake." I am sure if I owned a house on the lake I would think, "I wish I owned the whole lake." We always want for more.
To be wealthy or well off, I would say, would be someone who has over a million dollars in his or her savings and has a job with an income of over $125,000 a year.
I don't have an exact number, but I'd consider someone to be truly wealthy when they have enough to stop working. I consider most people well off when they have enough to provide for their family and still have money left over.
I think an individual is considered well off if they make over 100k a year and an individual is wealthy if they make over 300k a year. It also depends on whether they have dependents, what their spending habits are like, and how expensive the rent is in the city they live in.
I would say if they have all of their expenses covered by passive income and are doing exactly what they love in this world.
I don't know if there really is a way to say someone is wealthy. It is partially a state of mind too.
In order for me to consider me or anyone wealthy - the amount of money needed would be that amount that could support a person/family for an entire year with all the bills paid and still have money left over And they wouldn't have to do anything else, ie if they didn't want to work to bring in amy more money or wanted to just take trips this could be done and it could be done for at least a year or beyond.
Like everything else, it is in the eye of the beholder. Financial security is important, but being wealthy presents another set of problems that are superfluous, in my humble opinion.
Today with this economie is hard to consider someone wealthy if their have millions,
but if you have money to pay for big homes and cars and food ,vacation
and tax and left overs means millions
I think about 50 million
by flowmeter 9 years ago
Is boasting about how much money you have a sign of insecurity?
by ngureco 13 years ago
How Much Money Do I Need To Have To Be Happy And Live A Good Lifestyle?
by samtenabray 7 years ago
What would you do if you were given 1 million dollars?
by EdieMarie 10 years ago
How much money is enough to make you happy?A recent poll on Oprah said $75,000 is all you need to be happy. Anything more than that is too much. Most disagreed. Oprah said $100,000 is a better number. What do you think?
by gabrielthomas72 12 years ago
Are Sports Stars paid too much money?In a world where countries are on the brink of financial collapse and ordinary citizens struggle to make ends meet. Can the wages of our top Sports Stars really be justified? Last year Forbes Sports Money listed that the top 50 earners, earnt an average of $28...
by StayPos 6 years ago
If you received an unexpected inheritance of one million dollars what would you with the money?Oh and by the way the taxes have already been paid :-)
Copyright © 2024 The Arena Media Brands, LLC and respective content providers on this website. HubPages® is a registered trademark of The Arena Platform, Inc. Other product and company names shown may be trademarks of their respective owners. The Arena Media Brands, LLC and respective content providers to this website may receive compensation for some links to products and services on this website.
Copyright © 2024 Maven Media Brands, LLC and respective owners.
As a user in the EEA, your approval is needed on a few things. To provide a better website experience, hubpages.com uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.
For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: https://corp.maven.io/privacy-policy
Show DetailsNecessary | |
---|---|
HubPages Device ID | This is used to identify particular browsers or devices when the access the service, and is used for security reasons. |
Login | This is necessary to sign in to the HubPages Service. |
Google Recaptcha | This is used to prevent bots and spam. (Privacy Policy) |
Akismet | This is used to detect comment spam. (Privacy Policy) |
HubPages Google Analytics | This is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy) |
HubPages Traffic Pixel | This is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized. |
Amazon Web Services | This is a cloud services platform that we used to host our service. (Privacy Policy) |
Cloudflare | This is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy) |
Google Hosted Libraries | Javascript software libraries such as jQuery are loaded at endpoints on the googleapis.com or gstatic.com domains, for performance and efficiency reasons. (Privacy Policy) |
Features | |
---|---|
Google Custom Search | This is feature allows you to search the site. (Privacy Policy) |
Google Maps | Some articles have Google Maps embedded in them. (Privacy Policy) |
Google Charts | This is used to display charts and graphs on articles and the author center. (Privacy Policy) |
Google AdSense Host API | This service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy) |
Google YouTube | Some articles have YouTube videos embedded in them. (Privacy Policy) |
Vimeo | Some articles have Vimeo videos embedded in them. (Privacy Policy) |
Paypal | This is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy) |
Facebook Login | You can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy) |
Maven | This supports the Maven widget and search functionality. (Privacy Policy) |
Marketing | |
---|---|
Google AdSense | This is an ad network. (Privacy Policy) |
Google DoubleClick | Google provides ad serving technology and runs an ad network. (Privacy Policy) |
Index Exchange | This is an ad network. (Privacy Policy) |
Sovrn | This is an ad network. (Privacy Policy) |
Facebook Ads | This is an ad network. (Privacy Policy) |
Amazon Unified Ad Marketplace | This is an ad network. (Privacy Policy) |
AppNexus | This is an ad network. (Privacy Policy) |
Openx | This is an ad network. (Privacy Policy) |
Rubicon Project | This is an ad network. (Privacy Policy) |
TripleLift | This is an ad network. (Privacy Policy) |
Say Media | We partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy) |
Remarketing Pixels | We may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites. |
Conversion Tracking Pixels | We may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service. |
Statistics | |
---|---|
Author Google Analytics | This is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy) |
Comscore | ComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy) |
Amazon Tracking Pixel | Some articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy) |
Clicksco | This is a data management platform studying reader behavior (Privacy Policy) |