What do you think is rich for one person?
Which one is the bare minimum where you'd consider some single person rich?
| $50k-60k a year | 6 | |
| $70k-$80k a year | 3 | |
| $90k-$100k a year | 6 | |
| $100k-$110k a year | 11 |
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Comments ( 42
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donteatstuffoffthesidewalk
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Anonymous Post Author
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LloydAsher
It's a pretty average middleclass household income. Single person it's a lot but it's not rich. The person could go on a lot of vacations and maybe a fancy car. They wont have a multimillion dollar yacht nor house.
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Anonymous Post Author
Yeah suppose if they're entirely solo and didn't splurge on fancy cars or expensive gadgets could be a lot
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LloydAsher
What's the point in having that amount of money and not spending it in any way?
The rich can maintain high living standards, vacations, as well as multiple holdings simultaneously.
Let's say someone is making 100k (after taxes) a year. Living off of 20k. In 10 years they would make 800k which could be used to buy a high end house but not mansion.
The people who are truly rich make that money within .5-2 years. That's the rich divide in our country.
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donteatstuffoffthesidewalk
its above any published average
its also dependent on location
but you asked rich and 110k aint that
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MonteMetcalfe
Anyone with more than me I consider rich.
Antone with less than me I consider poor.Comment Hidden ( show ) -
dirtybirdy
I don't base it on a dollar amount, since it varies all over the place. As long as you don't barely get by paycheck to paycheck, thats rich to me. In that respect, personally. I'm well below poverty, but I manage..
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dude_Jones
$158K of income puts you in the top 10%. With a few good investments you’re considered high net worth. Rich is the top 1%. Currently that income level is $538,936.
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darefu
Picked the top numbers because you didn't give a higher range.
Rich for one person imo starts at about 100k. Then start looking at circumstances. If you're a doctor, lawyer, own your own business, live in high COL locations, 100k is not rich.
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Anonymous Post Author
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darefu
Again depends on a lot of circumstances. If that is net in your pocket after all business expenses. As well as some put aside for growth or a bad year then maybe.
One of my gauges for rich, (there's always exceptions), would be how much debt you have.
If you have no credit card debt, you have a fairly new dependable vehicle (paid off), and you can buy a house you want, or like, in an area you want, and pay it off in no more than 5 years or so. Then you are definitely approaching rich in my book.
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LloydAsher
Depends on the profit margins. How much is that 100k going into expanding the buisness vs take home income?
That's how a lot of companies dont pay a lot in taxes. Expanding your buisness is an expensive venture thus alot of the net profits go into expansion rather than pure profits. Most companies are barely profitable.
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BleedingPain
Depending on location. 100,000 is considered not enough due to inflation. Where I live, 56K acceptable but doesnt leave much room for spending beyond bills and essentials.
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Somenormie
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1WeirdGuy
Its like $2,100 a week. Barely enough to have a stay at home wife and still save money.
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LloydAsher
Not really. 100k a year salaries are pretty common especially in areas with high living expenses.
200k-300k is when you are in the upper middle class range.
500k+ is when you break into the lower upperclass.
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LloydAsher
Way more than that. 300,000+
Anymore than 100,000 taxes really start cutting into your take home earnings.
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bald_eagle_1998
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jethro
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1WeirdGuy
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Vvaas