Real talk: whether $400,000 a year makes you wealthy depends in part on where you live, but it depends a lot more on how many years in a row you make that much money & how much debt you started off with.https://twitter.com/CNBC/status/1313489245823283201 …
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That’s what we like to call eff you money ;)
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I like the Clair Huxtable definition (very similar to yours)- rich means your money works for you. If you works for your money, you might be comfortable, but you ain't rich.
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On the Cosby show, Claire Huxtable told her daughter that rich means "Your money works for you." Followed up with We work HARD for our money.
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Sounds legit, but I'd argue there are plenty of folks easily categorized as "wealthy" or "upper class" without meeting that definition of "rich."
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Yes, and generally it's because they haven't saved enough yet to be rich, usually due to their own personal choices regarding consumption and a bet they're making about future earnings.
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That makes sense only if everyone had the same idea of a retirement living standard The more you make, the more costly of a standard you have, in my experience
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Yeah by this standard like most celebrity multimillionaires aren't rich because there's no way they could fund future expenditures at their current levels on the basis of their current assets. It's a bad definition.
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The problem here is that many people who make rich person money can't afford to retire because they also have a high consumption rate and don't save.
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Exactly.
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I think
@chrisrock said it best: “Shaq getting paid $20M a year makes him rich. The guy who signs his checks is wealthy.” (Rough paraphrase)Thanks. Twitter will use this to make your timeline better. UndoUndo
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