If we're going on salary alone, I consider anyone who makes six figures wealthy. If you have two married people making six figures, they're going to be pretty well off. And it's relative too, considering in many areas the average salary is 25k.
"People of Wealth"
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Salary is variable as to location. A $150,000 home in rural Alabama is a nice home. A $350,000 home in San Fransisco if like 600 Sq. Ft. Housing is just part of it. If you are not making 6 figures or close to it you would have to live in a box in N.Y.
I agree that was why I was looking for opinions. I have a neighbor who probably has close to $1 million in toys but you would never know it meeting him.
true! a 2 story home here with a separate mother in law suite, granite, tile/wood flooring, gourmet kitchen, on 5 acres goes for $400,000.
acctnt shan
Active Member
GAH here you can't get a home that size for less than $1M unless you're looking in a shady neighborhood, and that's not including the 5 acres...
the prices of houses in different areas are outstanding. we like to watch those house hunting shows on HGTV just to see what cost where. seeing that our 7yr old brick, 3br, 2bath, 2 car attached garage house on an acre of land cost us $124,000 (in 08 it did, and it was 3yrs old then), goes for like $500,000 somewhere else is CRAZY!!
Truly amazing the housing differences even within the same state. In 1992, in Dothan, Alabama and $85,000 home was at least 2000 sq. ft. or better. The same $85,000 home in Montgomery 200 miles away was at least 20 years older and barely 1000 Sq. Ft. Housing is only an indicator of how other things are priced.
Joe the meek
Active Member
You guys are missing the bigger picture when it comes to housing and land, that being taxes.
Being that both my wife and I are "north-easterners", we'll never leave North Carolina LOL
Being that both my wife and I are "north-easterners", we'll never leave North Carolina LOL
our taxes are about $3000 a year. where Chris grew up (which is just a 20 minute drive away), they're close to $12,000 a year.
Joe the meek
Active Member
I dated a girl for some time whose family I would consider wealthy.
"Old money". Beach house was sold for like 3 million. Rolls and Jag in the garage.
I also consider my father one of the wealthiest men I know.
No bills, retired from 3 jobs, owns everything, and does as he pleases.
I also consider myself wealthy. Great family, no debt other than the house and land, and no health issues. That said, I STILL have to work if I want to keep my property, whereas my father doesn't LOL
"Old money". Beach house was sold for like 3 million. Rolls and Jag in the garage.
I also consider my father one of the wealthiest men I know.
No bills, retired from 3 jobs, owns everything, and does as he pleases.
I also consider myself wealthy. Great family, no debt other than the house and land, and no health issues. That said, I STILL have to work if I want to keep my property, whereas my father doesn't LOL
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acctnt shan
Active Member
They sell houses in Cali for $200,000?
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And I guess I think of the terms "wealthy" and "rich" as being the upper percentages. I think that there are plenty of middle- and upper-middle-class families that are comfortable. I hear "wealthy" and think of high-end suits and private schools and mansions atop hills, LOL.
They sell houses in Cali for $200,000?
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And I guess I think of the terms "wealthy" and "rich" as being the upper percentages. I think that there are plenty of middle- and upper-middle-class families that are comfortable. I hear "wealthy" and think of high-end suits and private schools and mansions atop hills, LOL.
Depending on the part of California, yes they do. The market crashed the hardest out here and left a ton of people upside down on their mortgages. In my part of the state, they're selling new homes for as low as $130k right now, which is around what prices were in '00-03.
Johnfromokc
Active Member
My definition of wealthy:
Zero debt and enough cash invested in a conservative investment mix to live comfortably off the interest.
Anything else (to me) is pretending.
Zero debt and enough cash invested in a conservative investment mix to live comfortably off the interest.
Anything else (to me) is pretending.
Wealth to me is not the amount of money you have but the memories you have made and the friends you have gained. Im not a very wealthy person in this department people tend to steer away from me but its how i like it lots of memories are made that way LOL
My definition of wealthy people: "Anyone who makes more than me."
Seriously though, I would say wealthy would be where one has a stable income which allows for them to be able to pay all monthly and yearly bills/debts and still have money left over for spending on: Multiple Vacations, Some new amazing electronic device every year, eating at nicer restaurants multiple times in a month, Starbucks coffee multiple days in a week, new clothing twice a year and so on. That to me is wealthy.
Seriously though, I would say wealthy would be where one has a stable income which allows for them to be able to pay all monthly and yearly bills/debts and still have money left over for spending on: Multiple Vacations, Some new amazing electronic device every year, eating at nicer restaurants multiple times in a month, Starbucks coffee multiple days in a week, new clothing twice a year and so on. That to me is wealthy.
Jezzebelle
Active Member
I agree.... I think almost anyone can be "comfortable" if they just live within their means. But wealthy denotes a higher class of housing, education, and luxuries.
I have wealth, but it's useless if I've no one to share it with. Well, that's really not true at all, as a matter of fact it's pretty freaking sweet that I can spend it all on myself rather than waste it on the frivolous taste of a silly woman. True story.
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