How much money would it take for you to consider someone wealthy or well off?

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  1. Jangaplanet profile image72
    Jangaplanetposted 7 years ago

    How much money would it take for you to consider someone wealthy or well off?

  2. gmmurgirl profile image84
    gmmurgirlposted 7 years ago

    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.

  3. Mr Tindle profile image78
    Mr Tindleposted 7 years ago

    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 smile

  4. Mark Ewbie profile image86
    Mark Ewbieposted 7 years ago

    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.

  5. Sober1 profile image56
    Sober1posted 7 years ago

    Enough to give it all away to needy, then start over. This is not preposterous, look around..... there are some!

  6. profile image47
    MonicaW3posted 7 years ago

    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.

  7. smanty profile image65
    smantyposted 7 years ago

    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.

  8. vashal profile image67
    vashalposted 7 years ago

    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.

  9. marketingskeptic profile image70
    marketingskepticposted 7 years ago

    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.

  10. fxdaddy profile image61
    fxdaddyposted 7 years ago

    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.

  11. TheSenior profile image61
    TheSeniorposted 7 years ago

    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.

  12. Genna East profile image91
    Genna Eastposted 7 years ago

    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.

  13. soaps profile image62
    soapsposted 7 years ago

    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


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