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Original poster

How much money do you need to be classed as "rich"

8 replies

pepsi · 23/10/2005 20:29

Just been reading a thread on private schools and how people scrimp and save to pay the fees as they are not "rich", it got me thinking what people consider to be "rich". How much do you need to earn, how much savings do you need in the bank for all your friends to think you are loaded. Or is "rich" in proportion to your life, eg. when I met hubby he was earning £15,000 pa. I thought he was loaded, our first mortage was for £54,000...we thought this was enormous. Now I think a rich wage is over £45,000...........is this enough to be rich on. I think there was a story last week which said you need to have more than a million to live a millionaire lifestyle....something like £4,000,000....fat chance.

OP posts:

JoolsToo · 23/10/2005 20:30

oodles

nutcackle · 23/10/2005 20:31

Hmm not sure. I used to think anyone on about £40000 was rich but I now know someone on that money and they never have a penny to spare.

helloween · 23/10/2005 20:32

I've always thought anyone who had more money than me was rich and I realise, now you ask the question, that that's never changed!

myturntobeposh · 23/10/2005 20:34

'Rich' to me means how much available (expendable??) income you have. You could be earning £100,000 thou a year but could be monstrously in debt and have nothing in your hand.

puff · 23/10/2005 20:37

I'd consider myself rich in money terms if I owned my home outright and was living off the interest of £5M in the bank/various investments.

ho ho ho

NotQuiteCockney · 23/10/2005 20:41

I'm with myturn, rich isn't about income, it's about income and outgoings.

Being rich is all about having enough money, and low enough needs/wants, to not worry about it.

spidermama · 23/10/2005 20:45

It's all relative.

DH's family think we're rich because we have a house and a car.

Others would think me a bit poor because it's a terrace house and the car's nearly 15 years old.

compo · 23/10/2005 20:51

I would consider myself rich if I had enough money to spend it on whatever I liked and never had to worry about money. I agree with others that it's all relative though. If you have always earnt £10K a year and suddenly earn £20K you might think you were rich. It amazes me how much disposable income some of my childless friends have too

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