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What net worth do you consider financially wealthy?

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  • Avatar benign_user 
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    What net worth do you consider financially wealthy?

    #242578 Reply
    Avatar Peds 
    Moderator
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    Joined: 01/08/2016

    A large multiple of spending.

    #242579 Reply
    Avatar jhwkr542 
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    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.

    #242580 Reply
    ENT Doc ENT Doc 
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    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?

    #242581 Reply
    Liked by hatton1, Zaphod
    CordMcNally CordMcNally 
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    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 Investor

    Lithium Lithium 
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    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!

    #242586 Reply
    Avatar FCP 
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    Earnest refinancing bonus

    1 million+ in liquid assets and 2 million+ in net worth is minimum I’d consider to be wealthy.

    #242595 Reply
    Lordosis Lordosis 
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    Status: Physician
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    45-65 years
    635nm
    590nm
    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.”

    #242597 Reply
    Avatar Kamban 
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    $10M

    #242604 Reply
    CM CM 
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    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.

    #242607 Reply
    CM CM 
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    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.

    #242610 Reply
    Avatar snowcanyon 
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    #242613 Reply
    Avatar StarTrekDoc 
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    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.

    #242629 Reply
    White.Beard.Doc White.Beard.Doc 
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    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.

    #242660 Reply
    Avatar Bmac 
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    My net worth + $1.

    Click to expand…

    Lol. Good one, Arsene. You must be a Gooner.

    #242668 Reply

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