benign_userParticipantStatus: PhysicianPosts: 167Joined: 01/14/2016August 29, 2019 at 7:04 pm MST #242578PedsModeratorStatus: PhysicianPosts: 4405Joined: 01/08/2016
A large multiple of spending.jhwkr542ParticipantStatus: PhysicianPosts: 1312Joined: 02/15/2016
For a typical physician, I’d consider a physician wealthy if they had $5MM. For an average household making around $100k, probably $1.5-2MM, depending on age.August 29, 2019 at 7:10 pm MST #242580ENT DocParticipantStatus: PhysicianPosts: 3500Joined: 01/14/2017
Depends on the liquidity of the net worth ($5M in securities > $5M in a home). Depends on pensions ($1M in securities + pension may be > than $1.6M in securities). Depends on location ($1M in CA < $1M in TX). Depends on age. Depends on marital status ($5M married never divorced < $5M single never married). Etc.
Does this affect your plans?CordMcNallyParticipantStatus: PhysicianPosts: 2806Joined: 01/03/2017
My net worth + $1.
“But investing isn’t about beating others at their game. It’s about controlling yourself at your own game.”
― Benjamin Graham, The Intelligent InvestorLithiumParticipantStatus: PhysicianPosts: 1174Joined: 02/15/2016
How old is middle aged? At what wavelength does red become orange, and orange become yellow? At what height should we label someone as tall, average, and short? All such fascinating questions!FCPParticipantStatus: PhysicianPosts: 90Joined: 01/26/2016August 29, 2019 at 7:47 pm MST #242595LordosisParticipantStatus: PhysicianPosts: 1806Joined: 02/11/2019
Above 59 inches
The OP’s question is much more subjective. Lots of variables. The best single answer would probably be some kind of formula like the PAW/UAW from millionaire next door.
“Never let your sense of morals prevent you from doing what is right.”August 29, 2019 at 7:48 pm MST #242597KambanParticipantStatus: PhysicianPosts: 2484Joined: 08/01/2016
$10MCMParticipantStatus: PhysicianPosts: 1168Joined: 01/14/2017
How old is middle aged? At what wavelength does red become orange, and orange become yellow? At what height should we label someone as tall, average, and short? All such fascinating questions!Click to expand…
35 yo (I no longer felt youthful at this age, ergo it’s middle age)
625 and 590 nm
USA (averages): 5’9.1″ men, 5’4″ women. Average weights are eye-opening.
Erstwhile Dance Theatre of Dayton performer cum bellhop. Carried bags for Cyd Charisse (gracious). Hosted epic company parties after Friday night rehearsals.CMParticipantStatus: PhysicianPosts: 1168Joined: 01/14/2017
What net worth do you consider financially wealthy?Click to expand…
My nurse would consider me wealthy.
I think $10M qualifies (don’t have that much).
Mark Zuckerberg might tip $10M per year.
Erstwhile Dance Theatre of Dayton performer cum bellhop. Carried bags for Cyd Charisse (gracious). Hosted epic company parties after Friday night rehearsals.August 29, 2019 at 8:30 pm MST #242610snowcanyonParticipantStatus: PhysicianPosts: 514Joined: 10/22/2018
.01% I’d consider anything else mass affluent.StarTrekDocParticipantStatus: PhysicianPosts: 2040Joined: 01/15/2017
NW >$5M gets pretty much anyone to do whatever they want within reason.
>$10M luxury wealthy – buy/do almost anything without needing to even consider the impact on NW.August 29, 2019 at 11:09 pm MST #242629White.Beard.DocParticipantStatus: PhysicianPosts: 936Joined: 02/06/2016
15M in liquid assets would provide 600k/year at 4%. Excludes illiquid assets like homes or businesses. That sounds like real wealth to me.
5M would provide a very comfortable 200k/year, which I would consider entry level wealthy.