POLL: How much net worth do you need to be “rich”?

Personal finance

One of the few benefits of having the cold or the flu is that it gives you an excuse to bundle yourself up warmly in bed with some good books. That’s just what I did recently with Tony Hillerman’s latest (which, unfortunately, doesn’t come highly recommended unless you’re a Hillerman junkie like me) and another book called How To Get Rich, the semi-how-to-semi-autobiographical book by British publishing mogul Felix Dennis, which I finally managed to buy online from .

Dennis’s book caught my eye several months ago when I came across and found it to be wonderfully irreverent and fun to read. But for some reason it’s been incredibly difficult to obtain in the US. I’m almost done with it and plan on reviewing it here next week, but his book raises an interesting question:

How much net worth would you need to have
before you considered yourself “rich”?

So, I’ve stuck it on a poll on the right sidebar and will let it run for a few weeks’ time. Dennis, of course, has his own definition of “rich” and reasoning for it. But what’s your opinion? Vote, comment, and feel free to add your own answers to the poll if you wish, though as usual, I reserve the right to remove anything I might consider inappropriate. I’m pretty open-minded though :)

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4 Feedbacks on "POLL: How much net worth do you need to be “rich”?"

Foobarista

My definition wouldn’t be so much based on gross amount as on income earned by investments. If one’s investments generate enough income for them to maintain their preferred lifestyle indefinitely without needing to work, they’re “rich”.

For me, that would probably be in the $5M range, since this much money invested conservatively would maintain itself and still produce a couple hundred thousand in disposable income.



Ricemutt

That makes sense too. Thanks for adding your answer!



Paul in 02144

$100 a day and good friends.



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