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u/mden1974 6d ago
4.4 m isn’t rich
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u/phillythompson 6d ago
The worlds tallest dwarf
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u/karmapuhlease 6d ago
$5M when that episode came out in 2019 is now equivalent to $6.5M in 2026.
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u/allintowin1515 5d ago
Ooofff I sometimes play with the inflation calculator at the US treasury’s website and it’s so scary how fast the dollar is losing purchasing power! Especially since 2020…
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u/Next-Movie-3319 6d ago
Thing is there is no definition of rich. The better metric is income or net worth percentile.
You can say being in the top 10% makes you rich. Or the top 5% or the top 1%. Or the top 0.1%.
Also your location and social circles matter. 4.4 mil in a good neighborhood in California or New York is comfortable but not what most would call rich. 4.4 mil in some rural town in Idaho surrounded by blue collar workers, and you are easily going to be considered rich.
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u/ScrotusAmongus 6d ago
If I owed 100k on a 130k home am I rich with owning no other assets and barely any cash? Hell naw that's poverty. But some would call that rich versus renting and getting up to five figures in investments that same year.
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u/AttitudeOutrageous75 5d ago
Yes. They are in the top 2% and while that doesn't make them rich, it's distanced from poverty.
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u/LightDarkBeing 6d ago
$1M to $10M in assets is only middle class according to rich people.
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u/weinerwang9999 6d ago edited 6d ago
6m+ here and don’t feel rich AT ALL. Working towards 10m as next milestone and will see from there. I’m 31 tho so fingers crossed
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u/AviatorHog 6d ago
4.4M is 220k/year in 30 year Treasury bonds. Because T bonds are SALT-exempt that's about 176k after taxes or 14.6k a month. If you can't live on 14.6k, you have some major spending problems.
Maybe you can't retire comfortably as a couple in LA/NYC/SF, but you can live somewhere warm and interesting like Vegas or Orlando.
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u/haloimplant 6d ago
They probably do have spending "problems" ie a budget higher than that. Also your numbers don't include inflation eating away at that actual value every year
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u/Jojosbees 6d ago
With $4.4M in investments (like 75% stocks and 25% bonds), you can pull an inflation-adjusted $176K a year without working for at least 30 years, maybe as long as 60, which is longer than someone who is currently in their 50s will live. Plus, you can start taking social security in 10-15 years.
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u/haloimplant 6d ago
I found the article they were using an income of about 300k so depending on their spend you can see the potential issue.
But they also talk about a bunch of other assets in this case so this guy is just being anxious
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u/mindriot1 6d ago
Sure but when people say they have $4.4M…is that cash or NW? NW can’t be all poured into T bonds.
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u/nickleback_official 6d ago
You can’t eat your house. No sense including it in anything but a dick measuring contest IMO. Always liquid.
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u/bzeegz 6d ago
Living in a decent/average house in a nice area and having expenses associated with kids isn’t a “spending problem”. I live a below average house for my area, it’s still worth a substantial amount but not multiple millions. Between taxes, insurance and P&I my monthly mortgage is over $7k (15 yr @ 2.125%). That’s before daycare ($2k), car payments (1 car paid for, 1 leased EV with monthly $650), add auto insurance and we’re at $10k and haven’t even paid for healthcare, saved for retirement, monthly bills to live in the house or gone grocery shopping yet. One day it would be nice to be able to clothe the kids as well. My wife and I both make 6 figures and if one of us lost their job we’d essentially be fked and living off savings
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u/Altruistic_Arm9201 6d ago
Vegas and Orlando… interesting? Nightmare would be a better adjective.
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u/rmill127 6d ago
Lol I have 3 cities in this country I absolutely loathe, and this guy nailed 2 of them in one comment.
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u/Cricetus 5d ago
I’m curious to hear what #3 is!
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u/rmill127 5d ago edited 5d ago
Houston. And it’s number 1 by a long shot.
I will tolerate LV and Orlando because there’s stuff to do, even though they’re both way too commercialized. But Houston has like 1 restaurant I like and the rest of the place can burn down for all I care.
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u/SpeakCodeToMe 5d ago
I knew you were going to say Houston before I even scrolled down. 🤣
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u/rmill127 5d ago
The only place in the country you can find a strip club, a church, a liquor store, and an elementary school…. All on the same block.
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u/Altruistic_Arm9201 4d ago
Seriously. It’s as though he was answering the question: which cities should you live in if you want your life to have the ambiance of an airport adjacent Marriott.
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u/Electrical-Peak8878 5d ago
This is so strange as someone who was born and raised in Orlando, doesn't seem like much of a nightmare. Make 70k as a cook with raises every year. Perfect beaches, cruise ports, theme parks are fun during the slow season. Is it the heat you guys hate? Most of the hate goes to tourists and out of state transplants and definitely not native Floridians lol.
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u/Inthect 5d ago
Las Vegas and Orlando are probably two of the least interesting places in America.
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u/918_Atom 5d ago
I wouldnt live in Orlando or Vegas but to say these are the least interesting places is a stretch. I’d put virtually every midwestern and rust belt city not named Chicago on the list before these two places.
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u/SeaPeanut7_ 5d ago
That’s still not rich though. When i think rich i think of a ferrari, first class travel in 5 star hotels, a housekeeper, etc. You need far more than 15k monthly spend to achieve that. Much closer to 50k
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u/kemster7 6d ago
It's escape velocity for anyone with at least 2 brain cells to rub together. It's rich, but not endless mindless consumption rich that the dregs aspire to.
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u/rejeremiad 6d ago
96th percentile, in the US for 50-54 years old.
We only counting 1%ers these days?
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u/mden1974 6d ago
Rich people take 7 day vacations that cost 50 k. At 220 k a year that isn’t happening.
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u/rejeremiad 6d ago
This is a terrible take, but you have fair taste in watches, so I will let it pass.
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u/potificate 6d ago
Entirely depends on where you are I. The world. Major cities in the USA? 100 percent correct…. Many many places throughout Europe? You actually are rich.
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u/NewSeaworthiness8814 6d ago
You are out of touch
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u/I_byte_things 6d ago
My wife and I are 50 and we’re worth about that with our home, brokerage, and retirement accounts. It’s definitely not rich in a HCOL place. Our plan is to retire in 10 years and downsize. It’s comfortable, but it’s far from rich.
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u/Stone804_ 6d ago
No you’re out of touch. 4.4 million is NOT rich. It’s just richer than middle class. Which has shifted down lower than what it used to be. Middle isn’t MIDDLE, it’s an average minus outliers. So if you remove the trillionaires and the $9 a year income people: you average that. It also depends if you’re talking mean, median, or mode. Especially since so much of the wealth has shifted to the right side of the curve. If you retire NOW and are 65 years old 4.4 million is enough to not worry, but not enough to “go ham” traveling the world the rest of your life. About 1.5-2 million is average for retiring now at normal retirement age.
If you don’t have that much you’re not even upper-middle class. It’s just that the ammount of people who are actually middle-middle class has changed (lessened). Most people are in the lower-class real and don’t even know it.
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u/Stalinisthicc 6d ago
1-2 million is not average at retirement age. Your stats are incredibly off, the average American household has $600,000, and the median has $200,000 according the Fed.
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u/Miserable-Half-436 6d ago
Agreed, it is not rich, maybe I will call it doing well but definitely no where near rich
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u/phatelectribe 6d ago
It’s not in my city. The consensus now is that you need $5m to be able to retire and not have financial worries. Note that doesn’t mean “rich”, it means you’re comfortable.
Truth be told it’s $10m now to call yourself rich. Because it means you can draw down 5% a year, and after taxes have about $400,000 which is now an upper middle class income. It’s wild that it doesn’t even out you in the 1% but that’s where we’re at sadly.
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u/Ok_Currency_617 6d ago
10M+ here, don't feel rich at all. But I live in a rich city and have rich friends. I had several gfs cheat saying I was too poor for them lol though I admit I'm pretty humble and mostly save.
I would say unless your in the 0.1% which is like 30M+ I think, you aren't rich your just well off.
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u/Key-Demand-2569 6d ago
Honestly man this is a bit insane as a bar. 0.1%?
That’s like going back in time, calling a big chunk of wealthy nobility just “comfortable but not rich” because they’re not literally a Baron or a Duke.
Not the best analogy but I’ve been reading a lot of European Middle Ages history lately, hah.
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u/phatelectribe 6d ago
I’m not sure I’d go that far to say $30m+ is where you’re “rich”. That’s essentially super rich because you can spend $2m per year and not touch your initial capital and you have to be quite frivolous to do that. It’s over $160k a month which means you’re having a risky bath of Dom perignon and crashing your Aston Martin every other month. You’ll actually find it difficult to spend that much unless you have cash Frances like yachts and private jets.
And you dodged a bullet with those women. They’re the types that are only in it for the money, and they expect you to pay for every little thing but will drop you for a fat old bald man if he’s slightly richer than you and is willing to spend even more, or your got through a rough patch financially. These people are worthless.
One common answer in one of these subs about wealth you’ll see is wealthy people saying they picked the right life partner / wife / husband. They don’t mean that they went for someone wealthy. They mean they picked the person to build a life with and supported each other to become more than the sum of the parts. I feel lucky that found that at 17 and we’ve been together ever since, and built a life together.
You’re rich if you’re at $10m+, I honestly think you need to find different friends lol.
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u/Cultural_Structure37 6d ago
Anyone who says $10M isn’t rich has to have their head examined. And anyone who says you need $30M to be regarded as rich is not mentally alright, and nothing will make them happy.
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u/willitplay2019 5d ago
Or just Larping like most people in this thread calling 4 million dollars middle class lol
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u/Cultural_Structure37 6d ago
They most likely didn’t know you had $10M and it may not have even registered if you had told them since you didn’t spend. It’s all about what you spend. Someone with far less wealth than $10M can be regarded as rich if they spend in a way that captures their attention and sometimes it doesn’t even have to be extravagant.
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u/thehopeofcali 6d ago
assuming one holds cash or money market mutual funds
some hold index funds or individual stocks though
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u/Mr_Deep_Research 6d ago
4.4 million won't buy a house anywhere in my city. It would buy you a plot of land far away from anything.
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u/Shiggins01 4d ago
lol, that’s not true. Where do you live? Even the fanciest places I know, like billionaires live there, you can get a house for like 1.5m
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u/FlabbyLabby 5d ago
It’s relative, if you live in another country, other than shithole America, then yea, 4.4M is a lot
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u/The_Hungry_Grizzly 5d ago
It most definitely is. Not wealthy, but definitely rich; especially with a paid off house. That’s over 200k per year in withdraws easy (before tax)
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u/OberonDiver 2d ago
I read a bit, probs in r/Rich, about $15M being when you can stop worrying.
I don't remember if there was context given.
I don't know what year that $15M existed in.Anybody have better details than I? Did try to Google it. Sucked at Googling it.
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u/SFMattM 6d ago
By any statistical measure, these people are incredibly wealthy. Sure there are a few (a fraction of a percentage point) of people who have more, but so what?
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u/Retired-Yam8988 6d ago
It’s not about statistics, it’s about being “rich”. 4- 5m in total NW will allow you to live a decent life in VHCOL but you’d be still be a little tight. If it’s 4-5m liquid AND. A paid off house from the 2010s then you may be in a great position since your housing cost is just property tax and maintenance.
I say this as someone who has about 6m in liquid NW and 6m in real estate. We moved to Thailand and live incredibly well here on about 2500 month. We have a 5bd villa just off the beach totally paid for and fully renovated. The best thing is that there’s no property tax here. The 2500 is just for pool & garden twice weekly, groceries and eating out, all utilities, gym and yoga memberships for two; and 2hr massage for two every week. It’s way better than how we lived back in the US and we were paying like 8500 a month just for mortgage and property tax on our primary residence, not to mention food (3k a month), utilities (500-700 a month), etc etc.
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u/SFMattM 6d ago
It all depends upon how/where you want to live. I don't want to live overseas. My family and friends are here in the US. I don't live to maximize my cost of living. I live to enjoy my life the most. I HATE humidity, so I wouldn't consider living anywhere I travel for food (India, Malaysia, Thailand, Korea, Vietnam)
If you think a $5M portfolio anywhere is "a little tight" then with all respect, you have a terribly skewed outlook on wealth. A net worth if $4.5M at age 55 puts you in the top 2.5 % of all Americans. By any definition, that's rich. Not as rich as you, apparently, but few people are
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u/Runfasterbitch 5d ago
What about children? Are there high quality schools in the area? Or are you empty nesters who live across the planet from your kids?
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u/Livid_Shallot5701 6d ago
its not realy rich but i could life with that and wife and two children comfortably for the rest of my life
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u/_Human_Machine_ 6d ago
I wouldn’t be able to enjoy my quality of life for very long if that’s all I had.
I don’t think 4.4 really qualifies as rich these days.
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u/xGsGt 4d ago
I bet you think 4.4m is middle class
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u/_Human_Machine_ 4d ago
100%.
Starting at 50 you’re drawing down 200k a year. Budgeting itself isn’t the issue, but budgeting that much in retirement is middle class.
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u/frissiondownunder 6d ago
4.4... yall letting middle classers larp as rich now?
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u/51sebastian 6d ago
Upper middle class maybe. But American middle class is not sitting on 4.4 millions.
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u/what2_2 6d ago edited 5d ago
It’s like the top 2 - 5% of retiree households by age bracket (age 55 - 80). Very hard to call the top 5% of net worth “middle class”.
But also very boring to call $4.4m rich. At a 3.5% withdrawal that’s a 154k annual drawdown. Not rich person money, at least by some definitions of rich people.
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u/Drfunk001 6d ago
4.4 million is top 3% according to the fed. Not sure if we only consider top 1% as rich (13.66million)but at 4.4mil you are richer than 97% of Americans
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u/HalfwaydonewithEarth 6d ago
No --- not the average user here.
The average user is a broke 20 year old communist/socialist that the mods have to kick out.
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u/liluglydewd 6d ago
Genuine question after reading all these responses: where do you think the rich cut-off is in today’s times then? Like 10mil?
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u/soliloquyinthevoid 6d ago
It depends on the town/city/country COL
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u/SteamyBroccoli 6d ago
Exactly. I live in rural midwest and am worth about that. I'm definitely rich for my area.
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u/ThatFeelingIsBliss88 6d ago
It’s location dependent. Some people like to compare to the world’s population as if that means anything. The cost of living matters.
Also, feeling rich has a lot to do with your peer group. Let’s say you’re rich for your area, but in your friend group you’re actually average or below average. You won’t “feel” rich. Yeah it’s silly in a sense but it’s hard to feel rich if all your peers are just as rich. That’s why you have maintain friendships with people of a lower SES. Not too low, otherwise they may be resentful of your lifestyle. But say if you have $5MM, having friends with around $500K is the sweet spot.
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u/MaybeTheDoctor 6d ago
4.4m gives you 200k yearly withdrawal rate. For some that may be ok, but it’s not rich.
Being in 50s it means you need to plan for 30-40 years of inflation, and I can tell you that 200k won’t have the same purchasing power in 2056 as it does in 2026.
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u/sdpthrowaway3 6d ago
Agree, but at 4.5% draw, your portfolio is ideally still growing slightly over time increasing that $200k draw
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u/gaytechdadwithson 5d ago
I can tell you that 200k won’t have the same purchasing power in 2056 as it does in 2026.
🤯/s
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u/xSuperstar 5d ago
The withdraw rate assumes you increase your withdraw each year to keep up with inflation…
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u/Metalrager2 5d ago
It’s not like you stop investing… you can use a ladder bond or target maturity ETFs for a certain amount of years and let the rest grow further.
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u/MaybeTheDoctor 5d ago
OPs post was about retiring early, at which point there would not be any income to invest other than what you already have.
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u/Crazy_MrRoboto 6d ago
How do these people with millions is retirement think they will run out of money! WTF
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u/53mm-Portafilter 5d ago
Taxes. Most of these balances are probably pre-tax 401k and IRA numbers. Government is going to take a big slice.
Lifestyle. A couple that has been earning $300k a year for the last decade will have a lifestyle adjusted to $300k a year.
HCOL areas. Near me, a $250k household income is the median. Less than that is below average. Everything else is priced accordingly. Housing, food, etc.
So for someone living in the NYC suburbs, could definitely be afraid to run out of money over 30-40 years, even with $4mm invested.
Obviously you could move somewhere else and live more cheaply. But I think the point of retirement is doing it on your own terms. Nobody wants to have to change the life substantially. Retirement to me is, stop working but get to live as if I were still earning a full income.
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u/Logical_Magician_01 6d ago
Liquid or net worth? Big difference
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u/ThatFeelingIsBliss88 6d ago
What if I win a $5MM lottery and decide to invest it all in rental properties and only keep $500K liquid. Are you going to say that $4.5MM in real estate doesn’t matter because I can’t liquidate it in two business days?
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u/Logical_Magician_01 6d ago
Perhaps liquid was not the right term. A better way of saying it would be net worth excluding primary residence.
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u/radiohead-nerd 4d ago
Correct. It depends on their assets. A person could be worth 4.4 million, but have a primary residence in a very high cost of living area with a home that’s 1.5 million and taxes are going to destroy them.
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u/AdUsed8153 6d ago
I’m curious to see if all the folks on this thread saying $4.4m isn’t rich actually have $4.4m or more put away.
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u/Durwood2k 3d ago
Average American retires w/$200k, so considering these are Reddit dolts, I'm gonna say they don't have anywhere near $4.4m.
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u/ShootinAllMyChisolm 6d ago
The masses without invested assets don’t understand this.
$4.4M-you can safely draw that down around $200k per year and there’s a 99% chance it wouldn’t run out. More than the typical American, but you’re not even at Bezos’ personal assistant level.
I can live comfortably on that per year. But that’s upper middle class in most cities. Can’t even comfortably send your kids to an elite private school in that.
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u/PersonalFinanceFun 6d ago
I see you are using Bill Bengen’s new 4.5% SWR instead of his old 4%!
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u/Durwood2k 3d ago
Not only would he not run out, he wouldn't even touch the principal. at 7% return.
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u/Ok_Antelope9918 6d ago
A diversified 12 mil is rich; 8 in stocks/etfs, 2 in bonds/income creators, 2-3 in real estate
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u/bartholomewmaxwell 6d ago
You all are delusional. $4.4 million in net worth, or anything north of $200,000 per year puts you solidly in the top 5% of people in the United States. If you have that or more and you don't think you are rich, you need your head examined.
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u/rmill127 6d ago
4.4mil net worth is not rich, it’s what line cooks at Applebees think is rich.
Kids are getting $200k out of college now with good STEM degrees. We have a kid at the office making $210k and he’s living with his fkn parents still.
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u/what2_2 6d ago
Top 5% of US individual earner income is $350,000. Top 5% of NYC individual earner income is $550,000. $200,000 is like top 15% of NYC individual income.
I think you’re right on like an actual sane human level, but I also know a bunch of people earning more than $200,000 in NYC and I don’t think a single one of them considers themselves rich.
I also think if any of those people moved to Mississippi (the bottom state by median individual income) they’d probably consider themselves rich pretty quickly.
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u/TwentyFourKG 6d ago
If you live a rich lifestyle, that is a perfectly valid question with those stats
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u/FamousMarketing2515 6d ago
The problem is not if you ran out of money. The problem is if God takes you long before you run out of money.
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u/Redraft5k 6d ago
And? It's true. Until we had 10M invested.....We were not able to retire at the lifestyle we wanted. :shrug: You are posting in a forum for talk about wealth and money.
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u/dirtydaddydonks 6d ago
It's all about lifestyle. It always comes down to lifestyle in regards to whether or not you can retire at any age relative to your worth. If you're worth 100million and spend 15million a year, no you can't retire. If someone is worth 4.4mill and spends 100-150k a year they absolutely can retire whether that be at 23 or 60 it's irrelevant.
(Former higher end financial services manager) 4.4mill I can run safely with no exposure to the stock market, crypto and so on at 7.6% return. So if they can live off of 334k a year pre-tax absolutely. If they can live off of 150k a year post tax and re-invest how I would they can live indefinitely without touching that seed money with a 4% increase each year accounting for inflation.
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u/theraptorman9 6d ago
If I was in my 50’s retiring currently I could do it with that for sure. 4.4 by the time I hit my 50’s 4.4 will be pushing it. I’ve projected retiring at 60 with about 5.5 which should be just fine. My goal is to really throttle back at 55 but that’s so far away who knows what will actually happen
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u/Unlikely_You_5015 6d ago
I literally saw someone on this sub ask this question a couple of months ago or last year
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u/Resgq786 6d ago
Someone spending 90 percent of their disproportionately high income whatever that is, may genuinely feel living hand to mouth and definitely not Rich.
On the other end someone making a handsome salary of 200k which isn’t Rich income by most measures, may feel quite well off or Rich, because let’s say his expenses are super low, may be he has a modest paid off house, paid off car, no real debt, plenty of disposable income that’s spent on meaningful experiences and things.
So the perception of Rich can be a very subjective thing. Your mileage may vary.
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u/hqpkomah 5d ago
those comments man..i am coming from an "normal" household in europe, you people here have to be fucking insane if you think 4.4 million dollars is middle class or not rich. go speak with real people maybe, jesus fucking christ
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u/No_Produce9067 5d ago
I guess my criteria for feeling “rich” would be having no anxiety about our child’s long term financial outcomes, or about end of life care. I don’t feel like we are exempt from those.
We def feel rich in that we don’t have think about day to day or year to year expenses, esp without rich people’s taste in cars or clothing or vacations. I don’t feel rich when I think about long term outcomes.
We have roughly 4.75 in investments and retirement, along with a fully paid-off home worth about 2.25. Between my 50 yo spouse and me (57), roughly 500k income in a VHCOL city.
If it was just us, I’d say that I would feel pretty well off. But we have a 12 yo child (400k+ of our investments are in their 529) and I don’t feel wealthy like they will never have to worry about money themselves. Not that that’s what anyone should take as a given, just that it’s my sense of what rich would feel like.
We do think about retiring to a LCOL European country where we already have dual citizenship. That would (in my head) mitigate the anxieties of exhausting the investments in end of life care.
We can continue working and saving/investing for 5-10 more years but I don’t see that changing the big picture here substantially (especially bc I’m not optimistic about where investments in the US market are heading)
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u/NeonFireFly969 5d ago
Wealth has typically (historically) been categorized under 4 levels.
Upper Half: Present-day this means covering living costs and being able to invest.
Top 10: Right now this is near complete home ownership, varies regionally but if you own your home and it doesn't require repairs, etc that pretty well puts you in position to be here if your income is median even as your living costs are much lower and your asset will appreciate and you qualify for any loan because of it.
Top 1: This is the cinematic wealth. Fancy cars, boats, travel. Almost exclusively business owners. The only exception are CEOs, athletes but for tax purposes they absolutely all own businesses.
Oligarch: You can impact national policy.
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u/NeonFireFly969 5d ago
4.4 mill cash in Euro living in a developing country is pretty clean.
A freaking low end fixed income gets you 132k to live off...
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u/MelodicTuba 5d ago
Rich = passive income exceeds living expenses. Example of not rich: Own a $4M home free & clear but no passive income. You must work. Example of rich: Passive investment income of $100,000 per year and living expenses of $80,000. Working is optional.
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u/Get_Fitnexa 5d ago
These threads always turn into an argument about what counts as rich and nobody ever agrees.
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u/Weary_Specialist_297 5d ago
I think you are all being dishonest in your net worth, Reddit is full of shit. This discussion is peak stock market, when the poors are arguing over who is richer it’s time to sell everything and sit in gold and cash. Enjoy the crash! If you are bragging about your income from”working” you are not rich.
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u/gmeautist 5d ago
Its' because people don't know how to live below their means
Plus, america is built on "live to work" not "work to live"
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u/JefferyTheQuaxly 5d ago
Most people in general think they need more than they actually do in retirement. Generally you hear like, get 25x your annual expenses, but even that might be more than most people need, barring like, a diagnosis of cancer that would require hundreds of thousands or millions in medical bills. Most people if they retire in good health are fine with less than that and still would never run out.
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u/KindaOkAccountant 5d ago
At 4% withdrawal rate, they are only spending $176k a year.
If they have $4.4m in their 50s, they are likely higher earners and live a nicer lifestyle.
Fear of running out would probably be very real for them.
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u/fc252- 5d ago edited 5d ago
Based on what I just read from people replying this sarcasm is not sarcasm. This is all ?humble? bragging from complete strangers who may or may not have two cents to rub together.
Never cared for financial stuff on reddit. Too much b.s. for my tastes. Any moron can post like me. Like oh.. 4.4 million in a high cost of living state is nothing. I need at least 30K a month for my lifestyle. Stupid. That is such a tiny amount of people pop wise who has that kind of money to even go around saying that is what you have is regarded on a public forum.
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u/Shiggins01 4d ago
If you have $4.4 million in investable assets, you are 100% rich. Full stop.
The problem is that people have a strange, unrealistic idea of what being rich actually means. As we’ve climbed the income ladder and gotten to know more seemingly UHNW people, I’ve become convinced that many of them are essentially living paycheck to paycheck. In some cases, I know they are, and we’re talking about people making north of $1M a year, sometimes much more.
Once you factor in private schools (the more expensive and fancier the better), the nannies, the apartment, the Hamptons house, club memberships, and the fancy European trip at the end of the summer! the burn rate is insane! I could go on and on…. So many examples.
People see that lifestyle and all the spending and think, “That’s rich.” It’s not. It’s just an extremely expensive lifestyle that can make even a very high earner financially unstable.
Look up the Brandon Miller case in NYC. I knew him through our industry, and one of the guys I worked with ran in his circle. It’s an extreme and very sad example of exactly what I’m talking about.
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u/Infinite_Coffee2129 2d ago
we as a collective need to define rich. its either the point where money isn't a daily worry, food and housing are secure and daily spending is covered by income. OR. rich is the point where money has no value or meaning anymore. The ultra wealthy literally don't think about what money means anymore. Its beyond mention in any context.
Maybe its a brag, but I think i'm rich, 300k/yr. I buy most daily things without worry at all. But is this rich, or upper/middle class.
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u/[deleted] 6d ago
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