What Is Your Definition Of Rich?

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In a few weeks time here in the UK the 'Rich List' will be released as it is every April. It simply lists the top 1000 richest UK residents in terms of total asset value. Entry to this most exclusive of lists looks set to start around £45m which is about $73m.

So, it would appear that to be officially classed as rich in the UK you need a personal fortune of around $73m. What do you think rich is?

If someone tells you they're rich, what sort of money do you immediately think of? Is it millions, hundreds of thousands or just an amount that may make you feel comfortable.

Would be interesting to hear people's opinions on the notion of 'rich'.
#definition #rich
  • Profile picture of the author qpok
    The day i reach $200.000 in personal banked cash i will define myself as rich. How come you might ask? simply because that breaks the million barriere of the danish valuta.
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    • Profile picture of the author Chris Sorrell
      And the Danish government would take 63% of it?
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      • Profile picture of the author qpok
        That's exactly right. about 60% goes to the government which is fine for me in trade with what benefits we have
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        • Profile picture of the author imon32red
          Originally Posted by qpok View Post

          That's exactly right. about 60% goes to the government which is fine for me in trade with what benefits we have
          I have a hard time with the 30%+ that the government squeezes us out of here.
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          • Profile picture of the author qpok
            Originally Posted by imon32red View Post

            I have a hard time with the 30%+ that the government squeezes us out of here.
            I don't know what you guys in the US get from your 30%+ but i can guess it's less than us in Denmark
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        • Profile picture of the author McGruff
          Originally Posted by qpok View Post

          That's exactly right. about 60% goes to the government which is fine for me in trade with what benefits we have
          Just out of curiosity, what are the benefits you get specifically in return for the government confiscating the lion's share of your income?
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  • Profile picture of the author Mike McAleer
    "having wealth or great possessions"
    no longer need to worry about money
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  • Profile picture of the author shuvo
    Having loadz of money in the bank,having a big palace to reside and finally to have a beautiful wife
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  • Profile picture of the author Brianne
    My idea of being rich, is then I am able to live a comfortable life where the stress over money is no longer a concern for me. When I wouldn't even need to bother checking my bank account balance anymore.

    For me, wealth would bring freedom, and after I achieve that level of freedom I'd call it being rich.
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  • Profile picture of the author Mike Hlatky
    Rich = Having more money than you can spend.
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  • Profile picture of the author SeoWizzard
    Going to hawaii for a couple weeks then when you get back and realize you actually made more money than you spent = that's my definition of rich
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    • Profile picture of the author imon32red
      Originally Posted by SeoWizzard View Post

      Going to hawaii for a couple weeks then when you get back and realize you actually made more money than you spent = that's my definition of rich

      There are plenty of warriors that do this.
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      I'm not selling anything.
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      • Profile picture of the author stesnees
        Rich to me is when I am able to do the things in life that I want to do without even thinking about the cost of it. May be a long time yet though
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  • Profile picture of the author Kim Davis
    Rich, wealthy, successful... it's all the same.

    It is how happy and peaceful your heart and soul is.

    Has nothing to do with money.
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  • Profile picture of the author Steven Miranda
    I think rich is a relative term depending on your prospective.
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  • Profile picture of the author Doran Peck
    I measure rich in terms of how much of my time I own. You have a finite amount of time and once any of it passes you can never get it back

    You are rich when you have enough money to control your own time as you see fit. The actual amount of money that is will vary.
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  • Profile picture of the author Damani Tabor
    Having health and wealth (defined as living below means but above needs) and the TIME to enjoy it. Many super-wealthy people are miserable because they are slaves to the acquiring of more wealth.

    A good problem to have though
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  • Profile picture of the author bettersocial
    Rich enough to be free.

    I'm quite young and have a great deal of fire and enthusiasm for life and its mysteries still left over, despite whatever past experiences have taught me. One thing I've realized is that whatever adventures life has to offer will remain just that if you are just don't have the financial freedom to explore things. Being rich would mean just fulfilling this requirement. After that, its only a matter of numbers and I hardly have any interest in that.
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    • Profile picture of the author jlucado
      Being rich is a state of mind and has little to do with money.

      Rich is feeling good about yourself and the world around you.

      Having money is another matter altogether.

      As Jim Rohn once said, "Money isn't everything, but it ranks up there with oxygen".
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  • Profile picture of the author Fred1
    100% debt free (including owning home free & clear)

    A minimum net worth of $5,000,000
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    "Why should the way I feel depend on the thoughts in someone else's head?" ~ Emerson
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  • Profile picture of the author seasoned
    MAN this is a hard question. Lets see, I guess about 130Million! I figured that out based on an amount that required only about 25% of your money to buy a nice house anywhere in the US. NOT a mansion, just a house! THEN, I figured out how an inflation rate of 20% over ten years would affect that. I think that is fair. So THERE is your answer. LESS than that then in another 10 years you likely won't be able to buy more than about 5 houses, in the most expensive area, at todays prices before going BROKE!

    BTW there is a little community near where I live where home prices START at $750K USD! And I DON'T live in a high priced place. In Thousand Oaks, CA a home HALF the size of mine costs over $1Million. Mine only cost about 1/4 of that.

    BTW my formula DOES assume that they can live for the rest of their life at about maybe an upper middle income level. BTW in the early 1990s a 40 foot yacht cost over $100K, and in the 1980s, a LOW end rolls royce cost like $150K. So you can see how going into a community of NEW nouveau riche people could cost over 6million just to START! Of course, outside of the home, I can't say how much prices have climbed. So it may be a LOT more than 6million. It DOES assume no loans, but if you count loans, HECK, I'VE been rich before! 8-)

    Steve
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  • Profile picture of the author theory expert
    Banned
    I actually have 2 extremes how I define wealth. Having access to things, but, not being a servant is the first. Such as, bartering is a cool way to have things. Case in point below.

    http://www.warriorforum.com/offline-...u-kidding.html

    The other definition I have is filthy rich. Example, Warren Buffet rich with a Jefri Bolkiah lifestyle.

    Mercy where is my pot of gold!!!!!!!
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  • Profile picture of the author Levira
    Rich! That is everybody's dream. Mine would mean a fat bank account and not worry about bills, real estate investment that is in the millions but most of all peace of mind and health to enjoy it all.
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  • Profile picture of the author PatriciaJ
    Rich was the first month after paying my mortgage off and not having to fork out a big chunk to my building society.

    Rich was the money I saved from not buying cigarettes

    Rich was kicking my lazy ex husband out and not having to support him and pay his gambling debts

    Rich is being able to help my family and give freely to charity

    Rich is being free and doing whatever I want

    Being happy really
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  • Profile picture of the author cameronwoods
    Health is wealth. Family and friends too. But if it is in terms of money, hmm... I could consider someone rich if he/she earns $1M a year. It depends upon the person how they make it grow. If you earn that amount of money and then you do not live the fancy life and you invest like for example in houses and apartments and whatever the stockmarket provides, then in time you will earn much more and you'd be there where those rich people are.
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  • Profile picture of the author alcymart
    My definition of being "rich" is having a roof over your head, 3 meals a day on your table, a comfortable bed to sleep, and debt free.

    Bernard
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  • Profile picture of the author jetlady
    I think of rich people as having money all the time who can acquire or buy what they want anytime...regardless of their assets or value.
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  • Profile picture of the author anislagan
    I would say that when you reach a stage where you can issue cheques without worrying if there is money in the bank.
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    • Profile picture of the author Dagie
      Rich means having something in varieties in terms of everything but if peace is not included there is not richness.
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  • Profile picture of the author leexiwen
    I love this topic, we all love to be rich in many ways. I would love to be rich financially, happiness, spiritually, socially, health and relationship. Life is a karma, and online has an exponential effect on that. To be truly rich in anything I always believe we must have a deep gratitude in what ever we have
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  • Profile picture of the author Fazal Mayar
    Rich is different from one person to another. For me rich is someone that is retired for life haha. I mean that he just chills in life and doesnt have to work anymore.
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  • Profile picture of the author HeySal
    Somehow society has gotten sick enough to think that having enough money stashed to feed a whole country is not only desirable but is what makes a person worthy of respect. Don't have it and you are worthless scum no matter how beneficial your life is to others or to the ecosystems. I remember watching money becoming God. The result has not been pretty.

    To me, if there is money to do and go where you want when you want, you are truly a wealthy person - any more than you need for the care of your self and family is really just beside the point. I'd like to know the name of the illness that makes people feel they have to stash tens of millions and even billions.
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    • Profile picture of the author seasoned
      Originally Posted by HeySal View Post

      Somehow society has gotten sick enough to think that having enough money stashed to feed a whole country is not only desirable but is what makes a person worthy of respect. Don't have it and you are worthless scum no matter how beneficial your life is to others or to the ecosystems. I remember watching money becoming God. The result has not been pretty.

      To me, if there is money to do and go where you want when you want, you are truly a wealthy person - any more than you need for the care of your self and family is really just beside the point. I'd like to know the name of the illness that makes people feel they have to stash tens of millions and even billions.
      Well, for me, it is WHY they have it or don't have it that counts.

      But I once heard a story of an old woman that seemed VERY poor! Her son suffered an illness and lost a limb out of poverty. When she dies, they found she was filthy rich..

      Who knows. I recently saw a real program about this woman that died. She lived in squalor, and was a recluse, and people thought she was poor. They THEN found one bank box with about $45,000USD in it. Still not rich, but a LOT more than anyone expected. Eventually they found that she owned like half the city! She was, by faar, the richest person in the area, just in terms of realestate alone. One of my favorite anecdotes is of the bum that had about $50Million CASH in the bank when even some RICH people were
      struggling. HECK, he may have had more than bill gates at that time.

      But was madoff worthy of respect? NOT IN MY BOOK!

      Steve
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      • Profile picture of the author John Durham
        I think in America you have to make 2mill or more to be considered anything beyond upper middle class.....

        We have so many 150k per year type people here who buy million dollar homes and two $80,000 cars and credit cards... and toys out the ying yang to achieve the "status"...that when you see see some here who have all the right props... UNLESS ITS LIKE OBVIOUSLY MEGO WEALTH LIKE MILLIONS UPON MILLIONS.... you dont necessarily think that means they are wealthy, then you tend to think of that person as an upper middle class professional, and you think to your self that they are probably buried in debt till they are ninety, and they spend more time trying to figure out how to juggle their payments than actually enjoying the fruits of their success.

        I'll tell you one thing... John Boy is getting the Mercedes cl 600 this year but its gonna be a 2007.... just as much percieved value, half the cost... more ACTUAL value.... and I sure as hell aint gonna be paying for it till Im 90.

        So anyway,

        Thats your first THOUGHT, because in the US we have a large segment of people who feel that the first step to making it as a millionaire is to have the "Look", then they can rub elbows... BUT WE AT THE WARRIOR FORUM KNOW THAT YOU CAN MAKE A MILLION DOLLARS IN A TSHIRT... hanging out in an outhouse and driving a ten speed bike to work every day if we want to !!!!!

        Freekin THANKS Allen for teaching us some sense!!!!

        I was hard headed and it took me years to start actually applying what you all taught here in the prescribed manners, not trying to re invent the wheel...

        To sum this up.

        We tend to not make much distinction here between a guy that has a million dollar home and a guy who makes 150k per year... simply because in America, they often have the same status and look very much alike... so "perception" wise... for alot of people a million dollar goal is more trouble than its worth... its ten times the headache and only about twice the pleasure... if you are going to be that ambitious, shoot for 5 mill! Then you get the money, and after you pay half of it to the government you still have money left! lol

        Trust me, I made a million dollars one year and you know what I remember from that year.... "Working my tail off"... I dont remember anything but focusing on work... I barely even noticed that I had more money... the biggest difference was I could do bigger ADS.... lol so my cost increased right along with it, and a bigger office... more admin staff...

        Anyway, the PERCEPTION in America of a "millionaire" is still not very rich in many peoples eyes.

        I tend to think 20 mill per year is Rich.

        Here's the truth. I live in a $250.000 home in a 500k-700k neighborhood...

        Now in CA thats considered not very nice, but Arkansas, 250k will get you a real decent 4 bedroom home with 3 full baths, 2 car garage, big fenced yard...and the works... the guys in my neighborhood around me live in more 500 -750k homes...

        And you know what... I really cant tell much difference between their lifestyle and mine to be hionest, except for the fact, that they are never home, they are always working most of them... If you saw us all out working in our yard you wouldnt think anyone of them had a much different lifestyle than any of the others...

        Most of the people I know who have million dollar homes.... in this area dont have as much money left at the end of the month as I do, they are just racking up the credit cards trying, STRUGGLING to maintain their payments...

        My neighbor across the street, is a professional in that 500k per year range... but he seems more stressed than I am, and Im pretty sure I enjoy my life more... he's NEVER HOME... Always working... Barely ever at this big house he has... always trying to pay for it.

        So rich is relative when you are at the 2 million dollar or less range...

        But when you break over into 3-5-10 million...

        You are rich by ANYONES standards.

        Im here and Im typing, soooo I am gonna work your brain a little with this post... so that as opposed to just being a comment it may actually give someone an epiphany who needs it.

        In closing if you are newby reading , and you want to feel rich.... Just replace your Job for now... even if you make the same amount of money you will feel rich... and you will feel SMARTER than all the suckers who make more than you but liv e their lives as slaves to the grind... and depend on jobs because unlike yourself, they didnt have the fortitude to create on their own without a job... so they are rich in a paycheck... but dishonor themselves by bowing to another man everyday IMHO!

        They bow and say "I was not able to create on my own, so I must depend on the charity of YOUR strong mind and YOUR creative ability for income.

        Not putting down those who believe in JOBS. Thats just how I personally feel.

        So Im in the 150k category myself (for the moment) ... but I am not a slave, and I work on my own terms... I can decide to give myself a raise on any month I choose to put out a little extra effort.... and today I didnt get up till 10:30, and I made money from residual, and from a couple of report sales, and while I was asleep someone across the globe was presenting one of my liquidation offers to their boss, and I got to news of that this morning, and its looking up.... that could be 20k in ONE SHOT, and it has taken me all of about 2 hours work so far... mostly via EMAIL!!!!!!

        To me thats rich! Calling your own shots in life!

        I might make 2 of those deals this year and invest about 20-30 hours of work.

        I will consistently write new offline clients every month as well... and that takes about 4 hours of telemarketing... and another 4 of running appointments and another four hiring out the work and managing an outsourcer.

        Then I will sell a couple of reports here and there... and then I will do an ad campaign for someone, or have a couple of telemarketers full fill a 500.00 lead order... and I make $300 profit...off of their work while Im hanging out on the telemarketing forum posting... and checking up on them on skype here and there...

        Basically I can work about 40 hours a month now and make over 10 or 12k, because I have learned to create several different streams, much of it from studying here at the warrior forum.

        At this point , if the ones I "actively" work... all fell down. I would still make 2k per month... even if I walked away and went and hid in the mountains for the next 6 months!

        Work it Baby. We all had to... and its worth it. From working "Smart"... and being DAMN dedicated to studying and getting better at it .... I have achieved a place where I could go to mexico and just NEVER WORK AT ALL and keep making my 2k, and spend about 300 bucks per month on rent and STILL BE RICH!!!!!

        Lol. Get creative on your thinking about what RICH IS.

        I spend 40 hours per month working... and 120 hours per month learning to get better at my workm out of choice and joy. One of those learning projects last month was reading reports by Dennis Gaskill... added more to my thinking... and was a pleasure, though it was "studying" it was not work.

        I have an appointment with a client on monday... an appointment which could result in about 3k... hell if I did nothing else but run 4-5 appointments per month... thats all I'd have to do... I would have done 4 times the work for an employer and not even made half the pay, or had half the self respect at the end of the day. I also have several other streams I have developed...

        I have to tell you I want 5 million dollars per year... but right now... I could go work on my presentation for monday... or I could sit here and post for 3 hours, or I could shut this computer down and go back to bed and work on my presentation on saturday instead... I also have an appointment for wednesday...

        Do you know what this means?

        This mean that right now at this very moment... I have money in the bank, I could get up right now and invite 10 friends to breakfast if I want to... but you no what I DONT HAVE?

        Anxiety.

        Hell Im half tempted to go back to bed right now! lol My appointments are in the bag... I could trip over my tongue the whole time and still get a sale because I have two appointments... ONE if not BOTH will be sale... If they NEITHER sell... I have 2 other small streams, and one fairly significant one that will make sure I dont fall... this month.

        YOU CAN DO IT TOO!!!!!!!

        Listen YOU DONT HAVE TO BE A MILLIONAIRE TOMORROW...

        Just figure out enough to replace your job and you will FEEL like one....

        What happens when you start feeling like one?

        I will let you finish that thought.

        Last line... while many others make 150k lets say (that seems to be the theme of this) and LOOK like they are millionaires, you can make the same and actually LIVE LIKE ONE...

        To me a millionaire does what he want when he wants... if I made a million per year and someone else ran my life... I wouldnt feel so much like a millionaire.

        Just my two cents.
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  • Profile picture of the author Sunfyre7896
    I think that rich begins where you are comfortable even if you lost your job for a couple of years, you would still be able to afford to pay all of your bills. The other stipulation being that you have at least a few million in assets/money. This takes away those that are barely making it and I wouldn't call them rich. Now, the upper limit to this would be in the hundred to two hundred million range. After that, you're impinging on the "Wealthy" category. When I say wealth, I'm referring to those that either own huge corporations, influence policy, or come from "old money." I.M.O.
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  • Profile picture of the author sanamuskan
    Banned
    Rich = hungry, hungry , and hungry
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  • Profile picture of the author thunderbird
    My definition of rich would be being able to afford American medical care.
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    • Profile picture of the author yougpeter
      Rich = Mindset
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  • Profile picture of the author tentimes
    I think rich is defined on where you live. People back home in Michigan that I would consider rich have NOTHING on the people out here in LA. If any American that makes more than 20k a year were to move to Thailand then they'd be considered RICH.
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    • Profile picture of the author regibiz65
      This is so correct. It all depends on where people live. In africa...if you live in a nice house according to western standard, have a nice car and can afford to buy groceries in the big supermarkets and can afford to eat chicken everyday, and have satellite television and air conditioning...and can cook in a gas or electric stove and can afford to send your wife to the beauty parlor every 2wks and can wear designer suits....one would be considered VERY RICH.
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  • Profile picture of the author minut
    Rich, in terms of money would mean that you should be able to have to spend money as much as you want and end up never bothering about your cash balance.

    In terms of the social aspect would mean having the best circle of friends and being yourself without trying to impress anyone.

    Mentally, would mean that you are in a sane state and does not do things that are out of your morale.

    There are so many things that we can identify as being RICH.

    It would just depend on which aspect we would like to be RICH, right?
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  • Profile picture of the author Bear157
    Hi all,
    When a person is able to purchase everything he need without any tension of its price (low or high) then that person is called a Rich person.
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  • Profile picture of the author Nauman K
    the day when I flew for world tour then I will be the rich person.
    I wish one day my dreams comes true
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  • Profile picture of the author 22SunnySideUp
    I'll consider myself rich when I can provide comfortably for my family.
    I don't need a country club membership or a mansion to feel rich just a life where money is not my top priority.
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  • Profile picture of the author pianopro
    Jeeeeezzz John Durham, end of thread /
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    • Profile picture of the author myob
      Rich is when you can write 1600 word posts, just like John did, and make it very insightful and interesting.
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      “If I have seen further than others, it is by standing upon the shoulders of giants.” – Isaac Newton
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      • Profile picture of the author John Durham
        Originally Posted by myob View Post

        Rich is when you can write 1600 word posts, just like John did, and make it very insightful and interesting.
        Thank Brother. I know I type alot when I get started... lol

        If they dont like it they dont have to read it.... but if ONE person does, and it changes their life... Then John Boy did his job and paid it forward.

        Heck at least Allen cant accuse me of one liners, or that I have to think too hard to find words... they come easy when you draw them from real experience.

        Edit: MYOB, being able to say 1600 words in one sentence is even richer!
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        • Profile picture of the author stanleytapp
          It simply means when you have nothing to worried about money if you want to buy something/anything you want, whether it is cheap or dear than you can be called you self rich What you feel now? Are you?
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        • Profile picture of the author money bubble
          john, I think you hit the nail on the head with that nice looonnng post To me, rich is ruling your finances, not the other way around. If I can afford to build my own house on a beautiful plot of land, provide for my kids when I have them & show them how to respect money, spoil my other half & myself when I want, & take a yearly vacation if I choose, I'd be rich. I don't need millions a year. Just not be in debt or have to work to make someone else hundreds of thousands a year.
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  • Profile picture of the author sarahberra
    500k or more per year profit after all expenses. That is my idea of rich!!
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  • Profile picture of the author liza86
    My definition of rich is having good habits, thoughts and heart.
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  • Profile picture of the author oliviasmith
    Well John you have categorized very well. You seem to have a lot of experience about life. That would be great help for me, thanks
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    • Profile picture of the author John Durham
      Originally Posted by oliviasmith View Post

      Well John you have categorized very well. You seem to have a lot of experience about life. That would be great help for me, thanks
      No its just that some people walk through life and dont take alot of notes... I have really observed alot and applied myself because of a lack of formal education and a prosperous upbringing... so while some take for granted their great attitudes about life, because they were instilled from birth... I have had to drown my self in motivational and spiritual kool aid and pull myself out of the funk...

      So accomplishments to some are par for the course... but to me they are really something to be celebrated because where I came from to everyone in my neighborhood as a child "Accomplishing" something in life wasnt something they expected us to do, it was an ideal that many of us held high "Someday we are gonna break out an accomplish something...".

      It meant something... others accomplished big things everyday and it was no big deal. I wanted to know how they got that way...

      Guess what... it truly wasnt very probable to be honest, for me to have broken out of the lifestyle I was raised in... I had to feed my mind and memorize words from great teachers... some are a man by the time they are 20... I have spent my whole life trying to become one... and studying very hard eveything along the way that looked like it might help!

      Thanks.

      Now I have true value, because I am an example that others CAN.
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  • Profile picture of the author hireava
    A person who has a healthy heart, faith in God and a Happy Life. .
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  • Profile picture of the author carcrazy
    I would feel 'rich' if I made $10 000 per month.
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  • Profile picture of the author webpromotions
    Being rich is having obscene amounts of insurance. Health, disability, life, etc etc.

    People seem to measure wealth in income, big houses, fancy cars etc....

    All of that can be gone in an instant, regardless of income.

    True wealth is measured by your level of insurance.

    And you can get insurance for ANYTHING, if you really have the 'wealth' to pay for it.

    Make your living by that hot selling WSO? Prove it and get some insurance against its failure.

    If you can't insure it, it isn't worth anything.
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    • Profile picture of the author JohnMoney
      making 5k a month is rich for me since i'm a 17 year old still but i honestly think 10m a year is rich
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  • Profile picture of the author John Durham
    Today I received a miracle re: my children... and that to me is the richest I have ever felt. My definition of rich changed in an instant... and thats gonna make me richer!
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  • Profile picture of the author Andy Kobe
    Originally Posted by Chris Sorrell View Post

    In a few weeks time here in the UK the 'Rich List' will be released as it is every April. It simply lists the top 1000 richest UK residents in terms of total asset value. Entry to this most exclusive of lists looks set to start around £45m which is about $73m.

    So, it would appear that to be officially classed as rich in the UK you need a personal fortune of around $73m. What do you think rich is?

    If someone tells you they're rich, what sort of money do you immediately think of? Is it millions, hundreds of thousands or just an amount that may make you feel comfortable.

    Would be interesting to hear people's opinions on the notion of 'rich'.
    Enough money to live the rest of my life without any worries is rich to me.

    And I'm not the kind of guy that needs to live fancy.

    So about 5 to 10 million for me.
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  • Profile picture of the author AdamWagner
    Having the freedom to enjoy life's blessing such as travel, good food and a great family...
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  • Profile picture of the author BulletheadX
    My definition of financial wealth is that my money earns my money for me and I no longer have to trade the hours of my life for it; in other words, my interest earned/returns on investment are sufficient to support my chosen lifestyle.

    Someday...
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  • Profile picture of the author amitaraja
    the person who have no fear to loss any thing......he is ready to face all types of difficulties,problems.And he have the ability to earn more and save than this person is called as a rich person
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  • Profile picture of the author tomkane
    It's a matter of attitude, not money on the bank. If you appreciate what you have, you are instantly rich.

    Sounds corny but that's the way it is.
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  • Profile picture of the author wendyw17
    Well obviously and literally, rich = money. Rich people have tons of money and properties, just work and work to gain more money. LOL!
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  • Profile picture of the author michalerikshaw
    in money terms there is no limit on it but in reality as i think person having good nature and the most generous one is the richest one
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