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Having $8M isn't rich to you? That's a lot of money, you probably should give at least some of it away to charity.
by lucasmullens 8y ago
Having $8M isn't rich to you? That's a lot of money, you probably should give at least some of it away to charity.
- dagw 8y agoIt's "rich" in the sense that if you're smart and a bit frugal about it you'll never have to work again. It's not "rich" in the sense of never having to worry about money again. Really rich people will spend $8M adding a new garage to their summer house.
- hnaccy 8y ago>It's "rich" in the sense that if you're smart and a bit frugal about it you'll never have to work again If does nothing but spend money he can spend $150k every year until he dies. Not exactly frugal.
- Majestic121 8y ago150k$ a year is rich in Vietnam maybe, but if you plan to stay in the west, you'd be upper middle class at most
- hnaccy 8y ago$150k net for 50+ years is upper middle class at most in America? Jeez some people are in a bubble. Reminder this is assuming he completely stops working and does basically nothing with the money except match inflation.
- Majestic121 8y agoAccording to this : https://www.thebalance.com/definition-of-middle-class-income-4126870 https://www.thebalance.com/definition-of-middle-class-income... 150k is just the limit between upper middle class and high income, and most politicians use 200ke as the definition of high income. You might have a different definition of upper middle class, but mine has following
- hnaccy 8y agoThat's pre-tax.
- AnimalMuppet 8y agoI think it was the founder of Maxim (don't remember his name, and can't point you to a link) who categorized various levels of "rich". Below $20 million (assets, not income) he classified as "the well-to-do poor". Yeah, maybe his perspective is skewed. Still, there are people who seriously suggest that $8 million doesn't make you "rich".