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Scott C | How much money does it take to be considered rich? |
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jhumelsine
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When you're rich, your money works for you.
When you're not, you work for your money. |
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Frank Castle
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You need $500,000.00 USD to be considered an Investor by the United States of America Government if you want to move to the United States of America with an Investor Visa.
You also need to have at least 10 employees.
So if you are a United States of America citizen or Permanent Resident Alien and you have at least that and at least that number of employees then you can be considered rich.
NOTE: If you have a $100,000.00 Car and a $400,000.00 House but you have $1,000,000.00 in debts you are not rich.
Top 3 Answerer in Business & Finance. (Vote for me) |
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oil field trash
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One dollar more than you need. |
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homeschoolmom
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Someone once asked Howard Hughes, "How much money does it take for a man to be happy?" His response? "Just a little bit more." |
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UseUrHeadFred
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How one defines "rich" is basically arbitrary.
However, I would define it as having enough money that a 9% annual return on investment would provide enough income to live comfortably AND add 3% back into the principal.
For example, if I had $1,000,000 and invested it and got a 9% return, I would add $30,000 back into the fund and live off of $60,000 for the year. The next year you would have a principal of $1,030,000 to start repeating the process.
With this view, you could live off of your money forever, even when you consider inflation. You'd never have to work another day. That's rich. |
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Thin Kaboudit
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Other people will think you are "rich" just as soon as you have more than they do. And unless you stop and think about it, it's difficult for any of us not to automatically assume that anyone with more than we have is "rich". It's very human to believe life would be better if we just had "a little more" money, but it just isn't true.
The secret to being rich is to spend less than you earn. If you do this, and invest the left-over money in a broad stock market mutual fund earning the long-term average return of 7-10%, it's actually quite difficult not to become a millionaire.
Of course you should always remember that if you are miserable with a total net worth of $500, you will most likely be the same amount of miserable with a net worth of $500,000 or $50,000,000! |
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GLORIA M
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I don't know about the money stuff, if you have alot of money, property etc.
a person isn't happy with alot of money, they become distrusting toward people.
a person ones told me, that i was rich, i'm not it is what is in the heart that makes you rich, money just helps. |
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?
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money is not the factor to consider , there are other things in life that can make you rich i.e. friends, good health, etc. |
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awsomegirl14
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one billion-bucks! |
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AC
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Of course everyone has a different definition of "rich". Put it this way, I like to think of what it will take to replace my current income. Say I make $60,000 a year. At current interest rate of 3%, I will need $2MM. |
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jagadish A
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Thats depend on your ability & strength |
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