At What Point Would You Feel "Rich" ?

[Shane Deubell]

How much would it take for you to feel "$$ Rich" ?

The recent casual study by USB was when people felt like they could do whatever they wanted. The asset breakdown was $5mil in assets and $1mil in cash.

Me, probably $2 mil and $500k in cash. Being a cheap sob that would be like a billion to me.

ps. mike do you know of any cougars in your neck of the woods....

 

[Mikey P]

I suppose I could come back to you with a Rob"'nism about how I'm already rich what with my beautiful wife, the lord baby jesus guiding my path, my 50 thousand viewers, my goofy kid and my new puppy, but I would be full of shit.



I seriously doubt there is a single person on any forum with money anywhere close to either option.

 

[Art Kelley]

Yes but the question is when do you feel rich. I feel rich now, all the money I need and things I want and excellent health. I have less the a million in assets and that keeps dwindling as my wife's business keeps losing money. But I'm still working and kicking boot and digging life. After tomorrow I'll spend five days on the beach at our condo on Lake Huron. I'm not rich like a lot of my customers but I'm blue color rich. And happy.

 

[FB7777]

I seriously doubt there is a single person on any forum with money anywhere close to either option.

And you'd be incorrect

 

[Desk Jockey]

I'll never be rich, I spend too much.

It doesn't bother me, I'm not hung up on money or possessions. As long as have enough to care for my family I'm good. More money, I'd just blow it on something not needed. LOL

 

[bob vawter]

when i'm up on a 5' chop at about 125 MPH in a quad turbo 52' Cat........wit a complete tow and crew operation......all built around a 6000' modern log cabin........earning my money making up Chinese fortune cookie sayings............

 

[Shane Deubell]

No right/wrong answer .
Its whatever you personally feel....

 

[Mikey P]

http://youtu.be/y_ZmM7zPLyI

 

[dealtimeman]

That's a good video

 

[Mikey P]

I thought you'd like that.


you low life selfmade Janitor.

 

[Beeks]

awesome vid, but whats a goalkeeper?

 

[Beeks]

i would say 500k in cash i would feel rich, but the word 1 million is so renowned for being rich for the most part, i would feel much richer and cooler with that number....and both numbers will be hit!

 

[FB7777]

I don't think $1 million is anywhere near " Rich "

Rich, to me is the freedom to do whatever you want in your life.

Having a million bucks isn't enough to replace your earned income,you'll have to dig into that money

5 million plus is my number ... But as a fictional character here on Mikeysboard, take my opinions with a grain of salt

 

[Hoody]

I don't think $1 million is anywhere near " Rich "

Rich, to me is the freedom to do whatever you want in your life.

Having a million bucks isn't enough to replace your earned income,you'll have to dig into that money

5 million plus is my number ... But as a fictional character here on Mikeysboard, take my opinions with a grain of salt

While no one wants to listen we can reap the rewards of compounding interest. Its a wonderful thing for long term investment.

 

[Ron Lippold]

The new definition of rich is 160,000 a year and 3.2 million in assets.

 

[FB7777]

While no one wants to listen we can reap the rewards of compounding interest. Its a wonderful thing for long term investment.

Another term I love is " forever stocks", ones with a long history of increasing dividends. KO, XOM, JNJ, PG, PM to name a few

Buy and forget them for a couple decades

 

[Jimmy L]

Just last night my wife and I jumped into her new yellow Fiat 500 sport with fancy mags and all and sped down to the local Olive Garden.

We arrived and pulled into a waiting handicap stall right up front.

We went right to the desk and were seated quickly as if we were celebrities.

We sat in the bar section with a view overlooking the busy street...................but this view had a tree right outside where we could see birds flying in and out.
It was a special sight viewing wildlife as we ate.

And when the young lady came over to introduce herself she gave each of us a sample of the wine of the day.

I reached across the table as she poured a fraction of wine and............held my wife's hand.

Then we looked over the menu.................and decided on splitting an entree .

And after our meal we were presented with our bill of $16...............including tip it came up to $20 even.

We glided out of there and got into the little yellow Fiat and rolled down the windows to enjoy the evening.

We then stopped at a local supermarket and she picked up some aged Riunite Rasberry wine and I picked up some close out Keebler fudge chocolate chip cookies.

People that is the lifestyle I enjoy.

And to those of you who must have a pool in your back yard to feel rich.

I can always go down to wal-mart and pick up a inflatable pool half price right about now.

 

[FB7777]

Olive Garden is and will always be one step up from fast food IMO

I especially enjoyed their lasagna, served on a red hot plate cause it was sitting under a heat lamp

I may go there again some day if they honor my request of putting in a drive thru

 

[Jimmy L]

With our split entree' we felt like we were in one of those high class restuarants where the serving is only a spoon full.

And so that was the fantasy of the whole evening.

 

[Desk Jockey]

James I think you'll find you are welcome at more fine food restaurants if you would pick a more appropriate time to clean your toes.

 

[TomKing]

There have been studies done and when people make beyond $75k their happiness does not really change.

I would say being rich really has to do with
1. Keeping your debt load low to zero both personally and professionally
2. Having multiple income streams that allow for future volatility in the economy.

To Karen and I we define it as having enough income to choose what the future will be.

 

[dealtimeman]

I feel rich when I have oppertunity to spend time off with family and friends that most Poeple either font have time to or don't want to.