Not flying commercial
FIFY
.
Rich is relative.
Yup thats why I asked for each person’s definition, if it was a fixed thing, this would not be a very long discussion.
The US is a rich nation with the third highest median income. Compared to the average person in the world, almost every American would be rich. But what you describe isn’t rich, it is comfortable. ** Rich isn’t **just being comfortable but being able to do things that most people can’t.
Not really interested in what it is not, what is your definition of rich?
The 1% thread got me wondering. I’ll give it a stab,
Never having to worry about where a meal is coming from, or where I am staying that night. Never having to worry if my car was going to get me somewhere. Knowing if I got in any kind of a situation, there was enough money to get me out. Never worrying about going to the Dr. or ER if someone needed it, never worrying about how to get medicine.
And maybe my definition is just a sad statement on America. But to me if you have all that, your rich.
That is a good definition. Not having to worry or even think about those issues. I am essentially retired and rich enough that I do not worry about money or any of those issues and have enough that I live off the income without depleting my investments. I invest my time in my family (wife, children, grands) and that is what makes my life rich.
Not quite as solid as you as I am living off my investments, eventually a small pension and Soc. Sec. will help prop it up, but till then living off investments.
When none of your problems can be solved by simply having more money.
I think that is a more elegant way of saying what I was trying to say.
When none of your problems can be solved by simply having more money.
Counterpoint: you’re rich when you are consistently advantaged by the system by being in debt.
Your rich by being in Debt? sorry not following you.
When you have enough money other people want to confiscate it
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When you have enough money other people want to confiscate it
Interesting, I put that more in the Uber Rich category.
Not flying commercial
FIFY
Eh, I think that is more uber rich.
not buying coach - rich
not flying commercial - uber rich
owning your own jet - crazy rich
Not having to work, able to travel anywhere at your leisure, hmm I feel like going to Florence for a month, book and go.
If this were the other forum I would say something like having the latest version of Dura-Ace/SRAM Red/Super Record (on a bike you paid for yourself), but it’s not, so I won’t.
Put me down for “Buying shampoo at the hair salon.”
When none of your problems can be solved by simply having more money.
I think that is a more elegant way of saying what I was trying to say.
I think there’s evidence that very rich people are less happy. Elon Musk is not a person who seems happy to me.
You want just the mount of money where a little less will make you less happy, but also a little more will make you less happy. Science. “All economics is about the margins.”
If this were the other forum I would say something like having the latest version of Dura-Ace/SRAM Red/Super Record (on a bike you paid for yourself), but it’s not, so I won’t.
I have a Dura-Ace bike and a Red AXS bike. But the bike that brings me the most joy? 10 year-old SRAM Apex.
If this were the other forum I would say something like having the latest version of Dura-Ace/SRAM Red/Super Record (on a bike you paid for yourself), but it’s not, so I won’t.
I have a Dura-Ace bike and a Red AXS bike. But the bike that brings me the most joy? 10 year-old SRAM Apex.
I want to change my answer. Rich is choosing Dura-Ace and Red over Ultegra and Force.
I want to change my answer. Rich is choosing Dura-Ace and Red over Ultegra and Force.
That’s nouveau riche. Too obvious and eager. Rich is what I did, talking about my preference for Apex while sneaking in the backdoor that I have a stable full of Dura-Ace and Red bikes.
people are questioning historically low tax rates…
Just to keep this truthful…
1.) The percentage of the total tax paid by the top 1% has never been higher.
2.) The percentage of total GDP that the country pays in taxes (for all levels of government) has never been higher.
There are variable swings, from year to year, as economic activity affects government tax calculations, but #1 and #2 are generally true.
people are questioning historically low tax rates…
Just to keep this truthful…
1.) The percentage of the total tax paid by the top 1% has never been higher…
Because they are hoarding all of the income to tax. Yet they are paying taxes at a lower rate than has historically been the case on their last dollar.
These are not mutually exclusive.
If you are referring to purely a financial response - When your money works for you, rather than when you work for your money.
IOW: earning more while you sleep than when you are awake? I’ll go with that definition for wealthy (“rich” is such a dirty word).
If you are referring to purely a financial response - When your money works for you, rather than when you work for your money.
IOW: earning more while you sleep than when you are awake? I’ll go with that definition for wealthy (“rich” is such a dirty word).
That could describe people terrible at playing the sick market.
people are questioning historically low tax rates…
Just to keep this truthful…
1.) The percentage of the total tax paid by the top 1% has never been higher…
Because they are hoarding all of the income to tax. Yet they are paying taxes at a lower rate than has historically been the case on their last dollar.
These are not mutually exclusive.
It is hard to get data that are precisely apples to apples, but the top 1% have 21% of total US income and pay 24% of total taxes — so our overall tax system (not just income tax) is not highly progressive. The top 1% have 32% of total wealth — so the system is regressive from a wealth perspective.
I’d say something like having enough money you don’t have to worry about that sort of stuff, but then again a lot of people could be in that situation but they live beyond their means so they aren’t.
I think a lot of people are house/vehicle poor and prop up a lifestyle by being in debt.
This.
Who is richer? Person with $30k of income after all taxes and such and lives off $10k or the person with $1M net income but has $999.999k of other expenses?