What level of income is considered to be socioeconomically rich nowadays? Why

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  1. gmwilliams profile image86
    gmwilliamsposted 3 years ago

    What level of income is considered to be socioeconomically rich nowadays? Why

    a million dollars per year is no longer considered socioeconomically rich?

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  2. Hendrika profile image81
    Hendrikaposted 3 years ago

    I cannot really answer this, except it has to be a few billion the way things are going. I tried making that sum once and all depending on the income you can get on your savings for me to even live moderately comfortable I would need at least R24000!

    1. gmwilliams profile image86
      gmwilliamsposted 3 years agoin reply to this

      Making in the high eight figures would be the starting point of being rich.  1 million dollars per year ISN'T socioeconomically rich at all. To be moderately comfortable, one has to earn AT LEAST 200K per annum!

    2. Robert the Bruce profile image60
      Robert the Bruceposted 3 years agoin reply to this

      At least 200k per year to be moderately comfortable!? GM, I've learned from some of your questions in the past but this one is complete BS. I'm afraid you're alone with your opinion on this one. One can live comfortably on much less.

    3. gmwilliams profile image86
      gmwilliamsposted 3 years agoin reply to this

      Not really,in many cities, one needs 200K to live at a modicum comfortable level.Things are QUITE EXPENSIVE these days. There's rent,education, travel, insurance, c'mon now..200K is solidly middle class while 120K is barely middle class THESE DAYS!

    4. Robert the Bruce profile image60
      Robert the Bruceposted 3 years agoin reply to this

      Maybe for a small percentage of the population this is true, but the average MIDDLE CLASS household income is less than 100k. So to say that 120k is BARELY middle class is to be ignorant of the actual numbers.

  3. askformore lm profile image67
    askformore lmposted 3 years ago

    It is important to remember that the word "socioeconomically" is made from TWO words, i.e. socio AND economically.
    Economics is actually very unimportant to get a "rich life".
    Instead it is "socio" i.e. with whom you live (friends and family). It isn't how well and "fat" you live, but rather how "good" (in the true meaning of the word good) you live.
    IF you want a "rich life", then forget about economics, and become social. ... If you do that, then the sufficient money will come to you on its own.

  4. micko27 profile image76
    micko27posted 3 years ago

    Why do you think 1 million per year is not good? And what things are expensive nowadays?

    If you dream is to travel the world even $5000 per month will do the job and you can visit every country of the world. If you want to have a yacht of 150 meters and use it everyday than even $10.000.000 a month is not good enough.

    Its purely subjective. Money hungry people will never be happy. If you are in top100 rich people you will always think "I want to have more than Bill Gates".

    See, I work like 4-5 hours a day, I am a freelancer and work online. I earn pretty good. But I must say that I know some people who earn 5-6 times more than me but their life looks like this: 4 weeks per year they are on vacation and they still have to answer calls and be there for clients, the rest (I think 48 weeks) they just WORK WORK SLEEP.

    So tell me, is their life more comfortable than mine? I am not under pressure, I can go on vacation anytime I like. If I am not in the mood I will not work next 3 days. Friend calls me to watch soccer game, I can go anytime. My life is not scheduled. So maybe I can't afford a $150.000 car but $10.000 car will make me happy to go to Hungary for a dinner whenever I want.

    So to conclude, you are rich only if you have enough to reach your reasonable dreams!

    1. Robert the Bruce profile image60
      Robert the Bruceposted 3 years agoin reply to this

      Very good answer. Being "successful" is subjective.

 
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