What do you define as "rich"

[Eagle]

LoL

I was having a conversation about setting up net worth and class levels(not very scientific, just my opinion and it's definitely debatable.)

I defined the working class as someone who have the opportunity to accumulate up to 100k in net worth before death

Middle class: opportunity to hit between 100k- 1million before death

Upper middle: between 1million-10million

Upper class: 10 million+

And I consider people in the upper class to be rich.

This is very interesting.

I consider anyone who has a net worth of 10-20M or more to be rich. Financially speaking that is.

[tripods68]

Obama consider you RICH if you make $250K a year in taxable income.

[Joan.of.the.Arch]

I'm not sure where rich begins, but if you are in the top 5% of income from whatever means in the richest country on the planet, then I'd say your are rich. Perhaps not as rich as you would like to be, and not mega-rich, but rich.
I don't have any trouble calling that rich. And I don't accept the idea that if you spend it all as it comes in then you are not rich, something which I see claimed.

[corn18]

I'm not sure where rich begins, but if you are in the top 5% of income from whatever means in the richest country on the planet, then I'd say your are rich. Perhaps not as rich as you would like to be, and not mega-rich, but rich.
I don't have any trouble calling that rich. And I don't accept the idea that if you spend it all as it comes in then you are not rich, something which I see claimed.

That would be about $225,000 to get you in the top 5% in the U.S. That would put you in the top 0.1% in the world.