What do you consider rich?

[Lao Tzu]

maybe i'm rednecking with all this 5M stuff but rich would be about 150k a year. For that amount you could have a mansion (in the sticks) and a couple of luxury automobiles.

 

[Lao Tzu]

Maybe if you live in harlem ...

-sk

Nope. Where i grew up a 3 bedroom house was 70k. A 7 bedroom, 6 bath was about 500k, which mortgages out to about 3500 a month.

 

[sk*]

Nope. Where i grew up a 3 bedroom house was 70k. A 7 bedroom, 6 bath was about 500k, which mortgages out to about 3500 a month.

Well, where I grew up at, you can buy a small apartment for that money.

Everything is relative, and I sure the hell am not gonna send my kids (when I do indead have them) to crappy schools. Location is the most important part about getting a house.

-sk

 

[sk*]

crappy schools (i assume you mean K-12)? Honestly, who gives a shit where you go to high school. You can get into most colleges with a GED nowadays. And there was no serious violence at the high school i went too, i doubt a harlem HS could say that.

Well I went to one of the top 10 high schools in the country, wouldn't have it any other way for my kids ...

And I ment more towards violence, education level, then getting accepted to colleged.

-sk

 

[Lao Tzu]

crappy schools (i assume you mean K-12)? Honestly, why does it matter where you go to high school or the quality of K-12 education. You can get into most colleges with a GED nowadays. And there was no serious violence at the high school i went too, i doubt a harlem HS could say that.

 

[MattTheSkywalker]

bingo!

i think alot of the replies on here have been percieved number type responses. example: if i had X million dollars based on how i think i'd live, i'd be fine (or i'd not see the end of the money). your perception is a finality. my perception is more ongoing. i dont think its valuable to have money just tied up in some liquid account and you chip away at it as you live. its not realistic and not how the rich do things. having cash like that sitting around is foolish because it can be making you more money, and is also available to those who sue you. no one mentioned where they kept their money, so im assuming its sitting in mom&pops credit union, or under the mattress.

now on to my perception of rich:
passive cashflow coming in to exceed my living/lifestyle expenses (whatever i may decide to do within reason). a bit of excess income that i can put into other investments to allow me and others around me to live better. of course this means im not working for someone (jobwise)as well. if i do have a job, its for fun....and a business i own.

All this can be arranged with some unsophisticated financial instruments, in the event of a big payday (stock sale or options vesting etc.) which is how most people generate opportunities for wealth.

 

[sigweed]

Well I went to one of the top 10 high schools in the country, wouldn't have it any other way for my kids ...

And I ment more towards violence, education level, then getting accepted to colleged.

-sk

top 10 at what?
what school would that be?

 

[sk*]

top 10 at what?
what school would that be?

Rather not say, but it was considered one of top10 or top12 high schools in america ...

-sk

 

[bignate73]

All this can be arranged with some unsophisticated financial instruments, in the event of a big payday (stock sale or options vesting etc.) which is how most people generate opportunities for wealth.

yeah yeah, im a newbie right now.

 

[velvett]

My one million dollar yearly earning clients are my poor clients.














I would not mind being one the poor ones.