What's your definition of filthy rich

[wfudkn]

I think $10mm is when you can start to demand things though. If I crack the $10mm net worth level with no end in sight, I would stop takin a lot of shit. Maybe it is kinda low as a stopping point though.

$10mil is nice and all, but that isn't going to get me my loft in Tribeca, my dream house here in DC, my quinta in the Douro Valley of Portugal and my villa in Tuscany, much less provide me with the coin needed to fly to and roll large while I'm chillin' at each. But I think I could make that happen with $250.

 

[buckets]

I hear ya... those are all good points

 

[TravelingDeacon]

I said 10 mil.

I consider filthy rich never having to think twice about buying almost anything a normal person would buy (house, car, new technology, nice vacations, etc). Insanely rich is the next level that you could buy anything you want without blinking (i.e., Trump, Gates, Buffet,)

 

[DeaconCav06]

Give me a lake house, beach house, and mountain house and I'll be happy.

 

[ImTheCaptain]

are we talking liquid or net?

$10 million net is nothing

filthy rich to me is buying $60 mill Gulfstream jets with a check

 

[Wake4estMike]

Yeah, need to be more specific regarding liquidity. I think that you can be filthy rich yet levered to the max. As long as you have $2-5 million of scramble money + assets of at least $50, you are filthy rich.

 

[Baconwfu]

Yeah, need to be more specific regarding liquidity. I think that you can be filthy rich yet levered to the max. As long as you have $2-5 million of scramble money + assets of at least $50, you are filthy rich.

Net should account for people who are leveraged. (i.e. I don't know the official definition of net worth, but I take it as assets - debt/liabilities). Generally when I talk about net worth (again, this is just my definition) I only talk about income producing assets (your primary residence doesn't count)

Either way, just keep it to generalizations. Don't worry about the highly leveraged guy, or the guy who has 200,000 acres of undeveloped land.

 

[wakegrrl]

100 million and up.

Yep.

 

[Deacon923]

$250m. To me that is the level at which you can pretty much buy anything you want, at any time, without needing to think about whether you can afford it - and this includes ridiculousness like yachts, islands, ginormous mansions, etc. At all the poll levels below that you'd still have to think about it before buying some of that stuff. That is my definition of "filthy rich", as opposed to just very, very wealthy.

 

[1976Deac]

$10 million just doesn't go as far as it used to...

For me, though, two six-packs of Rolling Rock would be serious upward mobility.