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Started By
Message
re: Are you rich?
Posted on 8/28/25 at 8:06 pm to Artificial Ignorance
Posted on 8/28/25 at 8:06 pm to Artificial Ignorance
No. Upper middle class, maybe.
0
Posted on 8/28/25 at 8:15 pm to Artificial Ignorance
quote:
Then what is 9 million in assets?
Rich lite?
Depends on where you live. Lifestyle and how much is post tax. I'd say overall $5million in investable assets is rich. 4% will get you $200k/year. Not bad if all your shite is paid off.
But I think you need $10million to get the life $5million would've gotten you Pre-Covid.
This post was edited on 8/28/25 at 8:17 pm
Posted on 8/28/25 at 8:19 pm to Bamafig
quote:
Money doesn’t solve all of your problems, but it solves all of your money problems.
I have the perspective of having plenty of very lean times when I was younger. Life is infinitely easier and has a shite ton more options to it when you can comfortably pay the bills, etc. I always tell my daughter that’s the true value of money, it gives you choices and options that others don’t necessarily have.
Posted on 8/28/25 at 8:21 pm to Artificial Ignorance
Over 10mm net worth can be considered “rich” in the US
Posted on 8/28/25 at 8:25 pm to Artificial Ignorance
Just gassed up the boat. Now I’m poor, but I’m going to have a damn good time. 
Posted on 8/28/25 at 8:53 pm to Artificial Ignorance
I have everything I need
Most things I want
My kids are healthy and happy and I know where I’m going when I die.
So yes… I’m rich.
Most things I want
My kids are healthy and happy and I know where I’m going when I die.
So yes… I’m rich.
Posted on 8/28/25 at 9:34 pm to SmackoverHawg
quote:
you need $10million to get the life $5million would've gotten you Pre-Covid.
Your calculated inflation rate is pretty angry.
Posted on 8/28/25 at 10:02 pm to Penrod
Windfalls (inheritance, lawsuits, lottery winnings. Etc) aside…
Was the cost to earn the money that grew to $20M worth it? (Eg, time away from family, missing the awesome things (son’s 1st home run, daughter’s 1st award ceremony, etc)?
Lots of dough. Any cost of dough worthy of sharing?
Was the cost to earn the money that grew to $20M worth it? (Eg, time away from family, missing the awesome things (son’s 1st home run, daughter’s 1st award ceremony, etc)?
Lots of dough. Any cost of dough worthy of sharing?
Posted on 8/28/25 at 10:17 pm to Rize
quote:
I’ve got to go to work everyday so I’m not rich.
This is the bright line, economically speaking.
I’m not rich.
Posted on 8/29/25 at 6:19 am to Bamafig
quote:
Money doesn’t solve all of your problems
That’s just what poor people say. Money will solve all your problems.
Posted on 8/29/25 at 6:22 am to Rex Feral
quote:
Money will solve all your problems.
If you have a problem that money can solve, you don't have a problem, you have an expense.
Posted on 8/29/25 at 6:53 am to Artificial Ignorance
No.
Rich means a lot more $$$/assets than I currently have
Rich means a lot more $$$/assets than I currently have
This post was edited on 8/29/25 at 7:26 am
Posted on 8/29/25 at 6:56 am to N2cars
quote:
If you have a problem that money can solve, you don't have a problem, you have an expense.
Wise words. Gotta remember that one.
Posted on 8/29/25 at 7:05 am to Artificial Ignorance
Compared to my childhood, I am 100% rich. I don't have generational wealth, but I have a nice house, vehicles, and a boat. That's more than most.
Posted on 8/29/25 at 7:16 am to Artificial Ignorance
quote:
Was the cost to earn the money that grew to $20M worth it? (Eg, time away from family, missing the awesome things (son’s 1st home run, daughter’s 1st award ceremony, etc)?
I worked about 50 hours per week before my kids were born (I was 25 when #1 came). I worked about 45 hours per week over the next ten years before starting a business, just because we desperately needed the money. My wife retired for a while when she became a mother. When we started the business I worked 50’s for the next ten years or so.
I worked most of my overtime in the early mornings, and I was home with my children by 5 PM. I’d work four hours on Saturdays but I was home by 11 AM. I never played. golf, hunted or fished (except with my kids), or went out with buddies. When I wasn’t working I was with my family.
Thoughts to share: Apple’s CEO Steve Jobs said something that rang so true to me. The average person greatly overestimates what he can do in a year and greatly underestimates what he can do in 10 years. This is so true. What happened to me was the product of a string of successes and setbacks that spanned 25 years. An awful lot of those successes were attributable just to being there - no great skill.
Another lot of those successes came through the talents and efforts of trusted partners. Very few of us have the range of skills necessary to start and run a great business on our own. But if the right team gets together it can easily make up for that.
Reacting to the failures is important. By that I mean don’t overreact. Keep moving relentlessly forward. Manage risks. You have to take big risks initially, but once established, quit gambling and manage risk. Don’t do anything that can kill your company.
But mainly, make a plan and start executing it. Without that it will not happen. And the advice you obviously don’t need, but I’ll state anyway, don’t sacrifice your life for wealth.
Posted on 8/29/25 at 7:17 am to Artificial Ignorance
No, my name is Doug. You must be thinking of someone else.
Posted on 8/29/25 at 7:29 am to Penrod
quote:90% of success is in showing up.
What happened to me was the product of a string of successes and setbacks that spanned 25 years. An awful lot of those successes were attributable just to being there - no great skill.
The best ability is availability.
Also, seat time past 10k hours is invaluable.
Posted on 8/29/25 at 7:33 am to T1gerNate
I heard that years ago, and I never fully understood it as a younger man.
It hit home though, later in life.
It hit home though, later in life.
Posted on 8/29/25 at 8:32 am to Artificial Ignorance
Yep. Have more money than I can spend.
I used to think a million was rich. Inflation is a bitch. 3-4 mill needed to be rich these days.
I used to think a million was rich. Inflation is a bitch. 3-4 mill needed to be rich these days.
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