At least John Edwards thought that you had to make 6 figures to be rich. Both are crazy, but which is more crazy?
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I would not consider 75K/year to be rich.
But the question isn't really this simple. What is "rich"? Where are we talking about - Berea, Kentucky or Manhattan? Is the person single or does (s)he have a spouse and ten kids?
"Rich" is relative.
At least John Edwards thought that you had to make 6 figures to be rich. Both are crazy, but which is more crazy?
I find that a stunning statement. We live in very different worlds.
You don't find the term "rich" to be relative?
I'm stunned at the statement that you would not consider 75k a year rich.
Remember, as Phasmid pointed out, that 75K in USD is more like 38K in pounds or euros.
Did you read the rest of my post?
It depends on many factors such as location, family size, current debt, etc. Another poster pointed out that $75K in California is breaking even, which is far from being rich.
50,576 today according to XE.com.
And the dollar is weak at the moment
And things in the US are cheap in comparison to here.
This is the average industrial wage here:-
CSO - Statistics: Industrial Earnings
If you make over 30K a year, which is practically everyone in America, you are rich.
You have no idea what rich is.That's a joke. A person making 40K in California won't even be breaking even. Do you think a person can survive in Roseville on $40K?
In comparision to the third world countries, yes definitely. By American and countries like it standards though, not even close.If you make over 30K a year, which is practically everyone in America, you are rich.
No, they are bad with money.Rock stars with expensive habits sometimes don't break even, are they poor ?
I make 31,000 a year, and I can't even rent a studio apartment on my own. That's hardly normal and that matters.tomspug said:That's the thing though. You don't need more than 30K in America to live a normal life. You only need MORE to get the bigger house, the nicer car, things that don't matter!
Come down to L.A. and see how well you live off 30,000 a year. Comfortable place to live? Sure, if you consider South Central "comfortable." Healthcare? :biglaugh:There are people making 100,000 a year that can't even afford healthcare unless it's provided by their employer. Car and car insurance? Depends on how much you have left over after food and rent. Maybe if it's used. Clothes and shoes? Yes. Food? We'll see how inflation goes this year. Entertainment and comfort? Depends on what you have left over after car, rent and food and what you consider entertainment and "comfort." I don't have a car payment, and if I did all the things that I considered entertainment and comfort, I'd be living paycheck to paycheck...hopefully.tomspug said:With 30K a year, you can find a comfortable place to live, afford health care, a car, car insurance, own multiple sets of clothes and shoes, feed yourself, and still have money to spare to buy things for yourself for entertainment and comfort. How about that?