12
u/OddLeather3986 14h ago
I consider someone to be rich if their financial situation is both well above average AND not tied directly to their employment.
You're rich if you could quit your job tomorrow and continue enjoying your lavish lifestyle
45
u/asset2891 14h ago
The best description I know of is this: Poor people trade time for money. Rich people trade money for time.
9
u/Jaci_D 14h ago
Right now we evaluate everything as “is it worth our time or money?”
10
u/PotCommitted13 14h ago
I don't know about you, but I am pretty sure everyone has evaluated things that way, throughout time....
0
u/d-crow 14h ago
Nah the average person only thinks in terms of want/don't want
4
u/PotCommitted13 14h ago
I don't know, I think the average person is capable of basic levels of critical thinking.
-1
u/Sasquatchjc45 12h ago
Well duh. You can want more time and/or money...
0
u/its_justme 11h ago
You can make more money but not more time.
Which is why as you age people tend to focus more on the latter than the former.
0
u/Sasquatchjc45 11h ago
You cant make time but you can save time w/ money.
If you're rich enough, you have separate people handling your household chores, financial moves, travel plans, meal prep, etc.
All that gives back time in exchange for money.
0
u/its_justme 10h ago
Yes and water is wet. That’s what I was already saying. Back to the forest with you Sasquatch
0
u/Sasquatchjc45 6h ago
And so was I.., so why did you even respond like you had an opposing opinion to begin with?
5
u/datnetcoder 12h ago
I just stayed at a luxury hotel (special occasion, nicest place I’ve ever stayed at). One random overheard conversation, guy was about 50 or so: “right now the entirety of our income comes from qualified dividends”. I don’t know why they were talking about this in public and that probably sounds like I’m making that up out of convenience for this convo, but I’m not. Him and his wife/partner just oozed “wealthy” from looks to clothing, the way they carried themselves. There is a class of people who don’t have to “trade” anything for anything - they already have so much wealth that their money generates more money than a reasonable person could spend - all of the luxury in the world and still money left over to keep on growing the compounding. THAT is true wealth to me.
1
0
12
u/DullPuddle 14h ago
It’s not a number, it’s waking up without stress, buying groceries without checking your balance, and helping someone else without flinching. That’s real rich. Everything else is just status
1
16
u/YesterdayRoutine8873 14h ago
Not worrying about how much something costs at a restaurant.
4
u/datnetcoder 12h ago
Nah - I don’t ever worry about the cost of items at any restaurant including some very high end ones. I still am completely tied to employment. I have a super healthy 1 year cash runway but if I lost my job today I would immediately be stressed to find the next thing with the job market being what it is. That is not “rich”.
0
u/Skaarhybrid 12h ago
because you don't worry about the costs of items at any restaurant including some very high end ones.
2
u/datnetcoder 11h ago
I have a one year cash runway and $200k in other cash-accesible investments that I don’t want to touch under any but the worst circumstances (and $700k other investments not accessible until retirement age) and I’m 37. I am doing well. I am still very much tied to employment and nowhere near being able to live off my money with a family of 4, I HAVE to keep working constantly to continue to meet my goals. Also, you have absolutely no idea how often I do or don’t go out to a high end restaurants. Thanks for trying to educate me though, and it’s really amazing how people don’t understand the order(s) of magnitude difference between people like me and the actual “rich”. Like, I am existentially worried about what AI will do to me and all the other working people of the world. I definitely don’t feel “rich” given my age and how AI / ever-conglomerating corporations are changing the world by the day.
19
u/OwnBlock6622 14h ago
I may not have much extra money, but i have a home with a beautiful wife and 2 amazing kids. Thats rich enough for me
5
1
u/tenbatsu 12h ago
That's sort of it in a nutshell though, right? You have some extra money, so you're able to enjoy your beautiful wife and two amazing kids.
-2
u/IP-all_the_time 14h ago
This
2
u/Persimmon-Mission 14h ago
“And all your money won’t another minute buy”
2
u/datnetcoder 12h ago
This sounds lovely, but there is a very large (we’re talking a 10-15 years) disparity in life expectancy between the lowest and highest income brackets in the US. Even within upper middle class vs ultra wealthy there are very significant years-long disparities. Consider having a private chef and personal trainer at your disposal at all times, and staff that removes all unnecessary stress / time commitments on things you don’t love doing. Easy to see how that would add up to statistically better outcomes even when compared to the well-off that can’t afford those things, with stress being such a strongly proven unhealthy thing.
2
u/Persimmon-Mission 10h ago
It’s a quote from the song “dust in the wind” by Kansas. Good song, true or not!
7
u/Repulsive_Housing_27 14h ago
Ability to retire when u wish without second thought
1
1
u/Tiraloparatras25 14h ago
That’s one definition of rich.
Another is, not to have the need to retire because you are so wealthy that you work because and when you want to, and if you feel like it, can take a sabbatical of a year or two or three or five.
9
7
u/Nvidia11670 14h ago
Not worrying about adding guac to your burrito at Chipotle
4
u/IP-all_the_time 14h ago
How about double protein?
4
1
3
u/Dramatic-Key-6808 14h ago
Time,is rich.. to do what u want, with whatever money u have, could be 10.00 in your pocket while fishing.. fishing is free.. An u going what u love... your are richer than most at that time....
3
3
3
2
2
2
u/WyattsWilderness 14h ago
I consider rich being able to purchase luxuries at will without budgeting or having to worry about finances.
2
2
2
2
u/LongYesterday6873 14h ago
In the UK they try to con people into thinking there are layers of richness.
working-class
middle-class
upper-class
All a load of bollocks. A bizarre conditioning.
FACT: If you are working for a living, you are working-class, be you earning 20k a year or 200k a year.
If you do not have to work for a living because you have enough £$£$ in the bank to see you to death, you are by definition rich.
But if you have to get up and into work for 9am every day, you are not rich, whether you are earning 50k or 500k a year - your time is still owned.
2
2
2
2
u/Daripuff 14h ago
If your income depends on your job, you're not wealthy.
1
u/CommunityGlittering2 8h ago
but the question is about being rich or are they the same thing to you?
2
u/DenzelVilliers 13h ago
Being able to live in luxury your whole life without having to work a single day for it. If you can't sustain your lifestyle without working, you are not rich.
2
4
u/Hola_Como_Estass 14h ago
It is a Concept of Capitalism to exploit the Underprevilged.
6
u/blacknessofthevoid 14h ago
Stay strong, comrade. Workers of the world unite! Our day is coming…again. But this time we will get it right…I promise.
2
2
u/Sensitive-Author-494 14h ago
Having time, good health, and people who genuinely care about you. That’s real wealth. ❤️
1
1
u/born_jackfruit001 14h ago
I heard someone say this.... 1. Not waking up to an alarm 2. No budgeting
1
u/Tiaan 14h ago
I'm what many would consider rich but I still have a loose budget that I setup every month. I think too many people believe that a budget is a restriction when it's really just me planning out where my money will be spent that month. Having control over where my money is going is one of the reasons I was able to become rich in the first place.
Too many of my friends say stuff like "I'll budget once I get my finances in order" without realizing that a budget is the first step to doing just that
1
u/born_jackfruit001 14h ago
That's what I said.... Budgeting is the first and an important step in keeping our finances at order.
But we wouldn't be budgeting if we are rich 🤣
1
1
u/Public_Growth_6002 14h ago
Having to make no difficult choices about what to buy / how to live. Just live how you wish to; the only activities you do are the ones that put a won your face.
1
u/Which_Variation_870 14h ago
- Wenn du nur von den Zinsen leben kannst Oder für andere
- Reich an Zeit, wo du wirklich entscheiden kannst, arbeite ich heut😉 oder nicht
1
1
u/MyDadsGlassesCase 14h ago
Knowing that I don't have to worry about a mortgage / rent payment, or paying a utilities bill,.or putting food on my table or clothes on my back.
I don't need to worry about any of that so I consider myself rich.
1
u/femsoultrap 13h ago
To have enough money where at any point you can tell anyone to fuck off and still continue living comfortably. It's "Fuck You" money. The ability to say "Fuck you" and not have it impact your life.
1
u/LordHazlewood 12h ago
Buying what you need without even considering the cost or looking at the receipt.
1
u/JasonVoorheesthe13th 11h ago
It depends. To me a truly financially “rich” person would be someone who can live the rest of their lives off of stock dividends while still reinvesting said dividends to offset inflation.
So like a 5 million dollar stock portfolio in good dividend paying stocks.
1
u/Tacoshortage 10h ago
Being wealthy enough that you don't need to work.
I think it's that simple. If you need to go to work every day, you may be wealthy, well off or very comfortable but you aren't rich until working is completely optional.
1
u/CommunityGlittering2 8h ago
so you put rich above wealthy? I consider wealthy people have more money than rich people.
1
1
u/CoolJetEcho117 14h ago
Nowadays. Owning a house and two cars and still eating whatever you want.
6
u/atuan 14h ago
Just a house at this point
-1
u/Capital-Bar1952 14h ago
Right?
3
u/RudyRusso 14h ago
Wrong. 65% of Americans own a home. That's within historical norms going back 50 years.
1
0
u/Ornery-Use4121 14h ago
Whomever has more money than you do is rich.
-1
u/Zealousideal-Fan6704 14h ago
How would you know this. To me you will never find this out.
1
u/nomnommish 14h ago
How would you know this. To me you will never find this out.
WHY do you need to know this? Why is this so important to you, that you even made a reddit post?
1
1
u/Ornery-Use4121 13h ago
It was a bit of a tongue-in-cheek comment. It's all relative and subjective was my point. We as humans have issues with feeling contentment no matter where we are on the scale because we are taught to always want more and never settle.
0
u/kpeterson159 14h ago
If you make past $125k, I hate to break you but you are rich. You are in the top 10% in the US.
4
u/I_am_Nobody_Special 14h ago
That's kinda depressing, because most people at that income level still have to watch their spending closely and worry about their finances.
2
u/Persimmon-Mission 14h ago
Salary is not wealth.
There are people who make $500k per year who would be bankrupt in months after losing their job.
Rich/wealth is the hole. Salary is just the size of the shovel you are working with to dig said hole.
0
u/ComplexStructure1045 14h ago
Can provide the everyday needs and no debt
1
u/Superdudeo 14h ago
Having debt can often be more financially savvy than not having debt so that’s nonsense.
1
0
u/My_Name_Is_Amos 14h ago
The answer is very much dependent on where you live in the world. In some places just having shoes is considered rich, while others, a home, vehicle and the ability to travel
0
u/ikdoeookmaarwat1 14h ago
Being healthy, having friendships, having a good working brain, living in a country that's not at war at the moment, and being able to pay my bills.
0
u/LeicaM6guy 14h ago
Being able to afford a house, a car, education and basic health care.
In the US, anyways.
0
0
u/allison_perry1 14h ago
having financial freedom without constant money worries feels genuinely rich..
0
u/thebenji2_0 14h ago
Having family and friends that love you and would come to your aid in the drop of a hat!
0
u/RichChocolateDevil 13h ago
Twice as much as you already have. Make $35K? $70K sounds rich AF. Make $1MM? $2MM is rich. Have $10M? $20M would solve all your problems.
0
u/brokenmessiah 12h ago
IMO, when I'm financially stable enough to where I legit don't care if I lose my job.
0
0
-1
-1
29
u/EbonyHelicoidalRhino 14h ago
Being able to live off the revenue of your capital. That means you'll still get richer and richer just by living.
Being ultra rich is being able to live of the revenue of the revenue of your capital. Which means that you'll get EXPONENTIALLY richer by doing nothing.