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Alex · 08-12-2010, 12:09 PM

Ok, for the record, overall in the United States, you are in the top 10% of household incomes if you earn around $125,000/year.

Do you think that is rich? If you make $200,000/year then you're in the top 2.8%.

My question was prompted by a CNN.com headline that asked whether earning $250,000/year (top 1.5%) makes you rich*. Rich is extremely subjective adjective, of course, but it is hard for me to imagine a use that wouldn't extend at least that far down the scale.

Part of the issue, I think is that once you're making $250,000/year you are almost always going to be at least in contact with a group of people that makes much more than that.

This is also something I confront a lot personally. Lani and I do extremely well for ourselves. But I don't feel rich and part of that is because we don't live like we're rich. We have one low-cost car (Civic), we rent an 800 sq. ft, one bedroom apartment. We don't have a 50" TV on each wall. We don't spend $1000 a year on Disney annual passes.

But the stats put us in the top 5% of Bay Area household incomes. It's hard for me not to think of that as "rich." And I certainly couldn't object to a person with a lot less calling me that. Hell, if I gave my just my raise this year to an individual it would almost single handedly take them above the official poverty line.

I guess my thread is inspired by the feeling that $250,000 may not make you rich but it does mean that pretty much any money problems (though there will be exceptions) you have are due to your own choices. So shut up about how hard it can be to live on that much. Even all but the most expensive enclaves in the United States, a quarter million a year should leave you pretty comfortable.

* The CNN anchor mentioning the headline showed some sense by reading that then saying "Really? Are we really asking that?"

08-12-2010, 12:09 PM	#16
Alex . Join Date: Feb 2005 Posts: 13,354	Ok, for the record, overall in the United States, you are in the top 10% of household incomes if you earn around $125,000/year. Do you think that is rich? If you make $200,000/year then you're in the top 2.8%. My question was prompted by a CNN.com headline that asked whether earning $250,000/year (top 1.5%) makes you rich. Rich is extremely subjective adjective, of course, but it is hard for me to imagine a use that wouldn't extend at least that far down the scale. Part of the issue, I think is that once you're making $250,000/year you are almost always going to be at least in contact with a group of people that makes much more than that. This is also something I confront a lot personally. Lani and I do extremely well for ourselves. But I don't feel* rich and part of that is because we don't live like we're rich. We have one low-cost car (Civic), we rent an 800 sq. ft, one bedroom apartment. We don't have a 50" TV on each wall. We don't spend $1000 a year on Disney annual passes. But the stats put us in the top 5% of Bay Area household incomes. It's hard for me not to think of that as "rich." And I certainly couldn't object to a person with a lot less calling me that. Hell, if I gave my just my raise this year to an individual it would almost single handedly take them above the official poverty line. I guess my thread is inspired by the feeling that $250,000 may not make you rich but it does mean that pretty much any money problems (though there will be exceptions) you have are due to your own choices. So shut up about how hard it can be to live on that much. Even all but the most expensive enclaves in the United States, a quarter million a year should leave you pretty comfortable. * The CNN anchor mentioning the headline showed some sense by reading that then saying "Really? Are we really asking that?"
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