What is Your Definition of Rich?

[Recyclersteve]

The word “rich” means different things to different people, and I get that. I can definitely appreciate someone who is broke financially, but rich from a spiritual standpoint and very happy. I’ve known a few people like that, and that includes my late father.

I remember in the not-too-distant past that people referred to millionaires as rich people. I definitely do NOT think of a millionaire as rich anymore.

My personal definition of rich means that someone has enough money to live quite comfortably the rest of their life without working a job. Someone with $100 million could feel the need to do everything first class and spend a million or more on a single cruise or trip to Las Vegas. They would likely not be rich for long.

On the other hand, $5 million could be all that a relatively frugal person needs to live comfortably for life.

What do you think?

[NDFarmer]

Definition of rich? If you are healthy. All the money in the world won't buy you your health!!

[IdahoCopper]

Rich is:

Happy with your health.
Happy with your family.
Happy with your friends.
Happy with your means.

[Silver4face]

Definition of rich? If you are healthy. All the money in the world won't buy you your health!!

This is probably the best definition that you will see on this thread.

One more thing: I do agree with Steve's observation that a basic millionaire should no longer be considered RICH in today's world. Unless that basic millionaire has many bags of 90 percent silver stashed away. And I do mean MANY.

[silverflake]

Being able to go to bed without having to think about waking the next morning for work. Now THAT'S rich to me. I seek security not things.

Keep stacking, keep saving.

[Tourney64]

Only in financial terms: living off of the income from your financial assets without touching the financial assets. If you can do that, then you are financially rich.

[Recyclersteve]

Only in financial terms: living off of the income from your financial assets without touching the financial assets. If you can do that, then you are financially rich.

I like that definition!

[ScrapMetal]

I agree with most of your answers.
I define rich as living your life as you see fit and not beholden or dependent on someone for your financial security. I was determined to quit working by age 50, as I enjoyed work, but rarely enjoyed the people in positions above me making decisions that had a direct impact on my enjoyment of the job.
I managed to quit working at age 48. Best thing I did, looking back at my age of 70 now.
I had a good military pension, nice profit from selling house, so money was not an issue. My wife and I moved to her home country of the Philippines, where she owned a house. We lived rent free. Family and friends were great to be around, we lived good, traveled, did all that we wanted. Life was good.
Fast forward to today at 70 years, and through my own fault, I have complications of diabetes that has had tremendous impact on my life. Looking back, I am grateful that I lived my live from age 48 to now as I did, because if I had waited to "retire" at around 65, I would have never experienced all the happiness and joy that life really has to offer.
I am rich beyond belief, 3 very successful children, 3 wonderful grandchildren, a life rarely experienced by others (traveling the world for 21 years on the military's money, never any money issues, and never having to answer to someone above me).
So in my mind, comparable to so many others, I am very rich.