What's the smallest amount of annual income (in USD) would someone need in order for you to consider them 'rich'?
(assume a max of 1 child in their household)
How long have they been earning the high income? "Rich" means "having great wealth." A young person with a six figure salary may not have had enough time to get rich, even if there are rich 50 year olds with lower salaries
Pedantic answer I always give to this sort of thing: "rich" is dependent on wealth and expenses, income isn't as relevant
For instance, someone with $10 million in a checking account may have $0 annual income, but they're def rich (unless their expenses are insane)
Even at 70k in most places I feel like you never have to worry too much about money outside of rare, catastrophic circumstances. Seems to me like that peace of mind is enough to qualify as rich.
Wrong question. It's about covering your expenses with passive income. There is so many "rich" people spending more than they make only increasing their debts as time goes.