How much is "rich" for you guys in USD per person. Like an actual dollar amount?
I'd say if you're at the 5M mark excluding your principal residence
20 million if you're in the US.
7 million would fund the kind of lifestyle that I desire in perpetuity.
But then I'd probably want more when I got there
>>1587864
Actual money amount varies. I would consider for the average persone with multiple iverse income streems and a steady income above the poverty level would be rich oretty much if they continue to everage that and grow to beat interest raises.
Me personally i consider myself to be rich when i dont have to do a fucking thing if i dont want to that day and work very little. While at the same time living at the level i wish to live wich right now is probably 80k a year after tax for me and my wife. We make some more than that but most extra goes to investments and we are wagecucks.
I'm a redneck and so long as the bills are paid, most of my cars are running, i got a little change to tinker on projects or take short road trips for parts and to take my friends to lunch, and maybe some money for a bar night im happy.
Trying to get rich drove me to the brink of insanity. So we got a debt consolidation loan to lower payments and i made a deal for my dream house.
Id say im happy and should be debt free or at least bad debt free in a year or 2 if i can sell a couple of shitty houses and upgrade to a descent rental.
>>1587866
I'd say somewhere around $5m as well. You could live a very comfortable life off of passive investments while continuing to grow your nest egg to keep up with inflation.
>>1587864
I would consider myself rich if I could never work a day again and still live comfortably. The number that comes to mind is $1m.