Quote:
Originally Posted by funchy  Define "rich" ? High income? High assets? Or lots of power and influence?
I define rich as having everything one needs in their life -- which doesn't always require money. I can be happy without $ millions. |
Yeah, as I had also mentioned, the thread doesn't really come up with a definition for what constitutes being "rich".
If one takes a positional view (e.g. being "rich" is being in the top x percentile of income or assets or the like within or as compared to a given population), then the reason why some are rich and others not is simple mathematics; in anything, only 50% of us can be above median, and only ten can be in the top 10.
Personally, I'd want to have money on the order of millions of USD in my future (several millions in today's real terms) at least for when I retire in my older age (regardless of whether my retirement turns out to be voluntary or not). I'm finding that it's harder to calculate what would be required to have any given specific standard of living in the future in a post-Medicare, post-Social-Security, etc. world than one might think, especially when assumptions about predictions about asset returns are thrown away.
Not like I have a clue about high-percentage tactics to reach such a goal, though. That's definitely one reason why I'm not anywhere
near even my
first million so far.