What does being rich mean in your perspective? - page 10.

Die_empty

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Quote from: libert19 on October 23, 2023, 11:37:53 PM

It's one of question which differs from person to person. How do you define richness?

To be rich is the ability to provide all the basic needs of life. Furthermore, it is a life without debt, sickness and fear. It is freedom from greed because you are contended with what you have. Criminals are not rich regardless of how much they own because they have no peace.

Quote from: NotATether on October 24, 2023, 07:14:23 AM

I know, right?

You need to have money to make ends meet, but you can't put a price on life. As in, peace and quiet type of life. Because ultimately, when you're at peace, that's when you're happy.

All these people flaunting their materialistic possessions are longing for some inner peace and happiness inside, I suspect.

Many of the good things in life are not bought with money which is why even billionaires commit suicide. Many of these people who flaunt their wealth in public are living troubled and sad lives in secret. This is why I pity people who compare themselves with others because of material things. When I visit some of the poorest areas in my country, I see happy people who are content with what they have. I see husbands hugging and laughing with their wives and children playing joyfully with their parents, they are enjoying the riches that money cannot buy.

NotATether

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Quote from: stadus on October 24, 2023, 12:31:21 AM

I love Bob Marley, love his music and its message, so I like to share his statement which I also use to measure my richness.

Quote

Possession make you rich? I don’t have that type of richness. My richness is life, forever.” #bobmarley

🎥 Bob is interviewed by reporter George Negus (60 Minutes Australia) at 56 Hope Road in Kingston, 1979.

https://twitter.com/bobmarley/status/1458512404443119620?lang=en

+++

So it's not really about the money for me, as long as I survive in this world with a comfortable life, I wouldn't be chasing a lot of money as I also like to retire spending time with my family, just be happy, I think that would make you rich already.

Even Steve Jobs, in his statement he regret working to hard that he sacrifice his happiness already.

Quote

"I reached the pinnacle of success in the business world. In others’ eyes my life is an epitome of success.
However, aside from work, I have little joy. In the end, wealth is only a fact of life that I am accustomed to.
At this moment, lying on the sick bed and recalling my whole life, I realize that all the recognition and
wealth that I took so much pride in, have paled and become meaningless in the face of impending death.

https://medium.com/@vikasjangir/steve-jobs-last-words-d79012fad236

I know, right?

You need to have money to make ends meet, but you can't put a price on life. As in, peace and quiet type of life. Because ultimately, when you're at peace, that's when you're happy.

All these people flaunting their materialistic possessions are longing for some inner peace and happiness inside, I suspect.

hyudien

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Quote from: libert19 on October 23, 2023, 11:37:53 PM

It's one of question which differs from person to person. How do you define richness?

My personal definition of rich is having a source of income that is able to meet your needs over a long period of time. For example, a month's salary can cover a maximum of 1/2 year's needs. Because what you need to pay attention to is that sufficiency has various versions. So if someone still feels that the income they generate is not sufficient for their needs, it means that someone is not included in the rich category. What is meant by rich is financial stability where social status applies, so it depends on the environment in which one lives.

It's a different story if there is a group of rich people in the same environment but each has a different portion of income. It is difficult to determine who is rich because everyone considers themselves richer than others.

Helena Yu

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I'm surprised to see people say rich is someone who don't have to work, buy anything without see the tag, and can travel freely. I don't think such person exist except you're the son of billionaire e.g. Elon Musk, Jeff Bezos etc. When you're already mature and your rich father want to give his business to you, even the business is autopilot but every important decision will be made by you.

You still need to work, even not in the business.

livingfree

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Quote from: libert19 on October 23, 2023, 11:37:53 PM

It's one of question which differs from person to person. How do you define richness?

I have been seeing quotes about being rich and being wealthy. While being rich can make you have that financial freedom but they say that it's not for so long and it's just all about money.

And being wealthy should be the goal of many because it's for long term growth and financial freedom and your wealth can be grown over the period of time without you have the need to work.

Anyway, in all sums up with the common denominator of what being rich and wealthy is and it's all about having lots of money.

wallet4bitcoin

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Quote from: libert19 on October 23, 2023, 11:37:53 PM

It's one of question which differs from person to person. How do you define richness?

One's ability to live life comfortably and get whatever he wants to get with the resources he or she has is what I call being rich. Now, make no mistake about this, this definition is beyond money as money is a currency, so is a reputation, and other moral values one upholds at every point in his life. If you can survive with these individual currencies without begging someone else for assistance, I can liken you to a rich fellow.

angrybirdy

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Quote from: Text on October 24, 2023, 05:06:57 AM

We often hear the word rich, and our immediate thought is money. However, I know for others, being rich goes beyond just financial wealth. For me, and I'm sure you won't deny it, it's about having a substantial amount of money or owning numerous assets and enough money to meet basic needs and desires. As a parent, having enough money to provide for my children's necessities like food, clothing, and shelter, as well as the ability to send them to good schools, is crucial.

I believe that financial security, the ability to afford a comfortable lifestyle, and the freedom to live life to the fullest are essential aspects that bring joy and fulfillment.

Thumbs up for this one. The first thing that comes to our mind when we hear the word "rich" is all about having lots of money and I agree with that, for me, it should be being financially secure, meaning you have an investment, some business, asset and also if you're not living paycheck to paycheck. having a large income doesn't mean you're rich, especially if you're living paycheck-to-paycheck. You may consider yourself a rich person when you can afford to have a lifestyle that you want without needing a job when you are your own boss and not beholden to an employer, and when you're free to do what you want. One thing that I also consider being rich is having good health, a comfortable life, and stable mental health.

mindrust

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1- You don’t have to work to live
2- You are not checking the price of the food you eat

If you met these conditions, then it means you are rich.

If you noticed I didn’t say “you need a car, you need a house, $x amount of cash) etc because if you are a person that don’t need to work and not checking the food prices it means you are financially free. It means you can buy pretty much anything you want.

When was the last time you sit in a restaurant and ordered food without checking its price first? If you did this, it means you are poor.

Text

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We often hear the word rich, and our immediate thought is money. However, I know for others, being rich goes beyond just financial wealth. For me, and I'm sure you won't deny it, it's about having a substantial amount of money or owning numerous assets and enough money to meet basic needs and desires. As a parent, having enough money to provide for my children's necessities like food, clothing, and shelter, as well as the ability to send them to good schools, is crucial.

I believe that financial security, the ability to afford a comfortable lifestyle, and the freedom to live life to the fullest are essential aspects that bring joy and fulfillment.

Cantsay

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Quote from: libert19 on October 23, 2023, 11:37:53 PM

It's one of question which differs from person to person. How do you define richness?

Like I said in a post that asked a similar question, if you have a definition of rich at this moment when you eventually get to that point you’ll see the more need to accumulate more wealth and set a new target.

But for me, being rich in simple terms means; free from dept, having peace of mind, being able to provide everything that I need without having to stress myself, and most importantly being able to live a healthy lifestyle without worrying too much about how to put food on my table.

I just told you what being rich means to me in a layman context, we have seen a lot of people with cash in their account and yet unable to do anything without having to panic or some other with a decent net worth and yet don’t have peace of mind.

Yamane_Keto

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Wealth is a simple word and we hear it since we were children, but it does not have a single or disciplined definition and it changes with changing countries or economic conditions, but I can say that the simplest definition would be “to be able to do whatever you want, whenever you want, and to buy or travel freely without being worried.” "On the basics of life for at least 10 years."
The value varies according to your country. In some countries, the amount of one million dollars is sufficient to fulfill the condition above, and in some countries you are rich, and in some countries you need 100 million.
Being wealthy is a great thing, but psychological, emotional, and physical integrity is necessary to feel happy.

Majestic-milf

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Humans are insatiable and will always have that need to satisfy a want. To define riches differs from one human to another but if I were to define it, riches in terms of materialism means the ability to own a significant amount of money or you own possessions of significant monetary value. Meanwhile, in a general context, to use the word rich in relation to something means to have plenty so it can't be limited to money alone. One can be rich in money but do not have the rich knowledge to use the money judiciously.
Measures of material wealth; both income and GDP are closely related to give human satisfaction and those who have money are known to have more happiness than the one that doesn't and these are the ones who feel materialism can give happiness more than contentment.
For me, being rich is not about material wealth alone but the combination of knowledge in other areas of life as well and the ability to be content with it.

Silberman

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Quote from: NeilLostBitCoin on October 24, 2023, 02:01:42 AM

Quote from: libert19 on October 23, 2023, 11:37:53 PM

It's one of question which differs from person to person. How do you define richness?

If your passive income is enough to cover all your expenses and sustain your desired lifestyle, you can consider yourself rich. You don't have to rely on a regular job to make ends meet and have more time and freedom to pursue your passions and hobbies. Having a stable passive income can provide a sense of security and peace of mind, knowing that you have a reliable source of income that doesn't require your active involvement.

While true most of the time passive income is not really passive, even some of the richest persons alive cannot really just let their investments be, they need to check their investments from time to time and rebalance their portfolios, so I think an easier to reach goal would be to become rich enough to cover your expenses and live the life you want while only using a limited amount of time in the process, and in my mind someone that can do this is definitely rich.

bluebit25

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I just mentioned my views on money in another thread, but there's still some content that I still want to mention here.

Quote

Perhaps looking at the issue of wealth beyond the scope of material things (money), it also includes other intangible things that we accidentally forget such as intelligence, health, spirit,...

Because of my limited understanding, I cannot fully understand the problems in which people can use it in different positions to get effective results. But maybe the problem is that I first see money as just a useful tool for our lives, fair and not by being intertwined in the macro environment. And using it to meet personal needs is really very small because the nature of our needs is often quite easy. I think using money in a beneficial way and avoiding waste is the way to help us. we get a little happiness from this tool. Sharing material things with those in need, yes this is very necessary and should be done. Besides, it is also necessary to share intelligence, health, spirit,... with everyone, and a truly rich person is someone who is always free in every decision they make.

ndutndut

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Quote from: libert19 on October 23, 2023, 11:37:53 PM

It's one of question which differs from person to person. How do you define richness?

They will answer different definitions of rich from your question, because the definition of rich is relative to each person. In my opinion, poverty only happens to people who always feel like they don't have enough. Meanwhile, rich people who always provide for themselves (feel they have enough) are essentially truly rich people.

It could be said that the definition of being rich is for those who are good at managing finances in three aspects, namely income, management and expenses. Income must be greater than output, management is directed at obtaining other income (investment). They can use their money to get more money, like a slingshot, pulling back to shoot forward. Rich people are simple and don't complicate themselves. Always buy anything with cash, never credit. Has a lot of business, investments everywhere, and he will give charity without anyone knowing.

mu_enrico

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Rich means a worry-free life. It's more than financial abundance or having many assets. People often associate this worry-free state with the term "financial freedom," which, in my opinion, is inaccurate. The key here is living your life to the fullest, doing anything you love and with people you care about.

franky1

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best way i calculate it.
imagine a comfortable living status of income.
calculate that income with an average 3% increase per year until the standard "life expectancy" of years left of your current age

and the total is "rich" enough to never work again or never live below a healthy happy lifestyle status

..
these days in western countries. where a living wage is £$10-15 of basic survival lifestyle.(£$20k-£$30k a year)
some used to think that a 20year old getting $£1m cash upfront would be "rich"
however doing the math for that person living work free for the next 65 years(85life expectancy) that £$1m wont last throughout their life comfortably

these days £$4m is considered the lower class(min wage) income requirements for a basic lifestyle to be work free as a minimum standard

NeilLostBitCoin

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Quote from: libert19 on October 23, 2023, 11:37:53 PM

It's one of question which differs from person to person. How do you define richness?

If your passive income is enough to cover all your expenses and sustain your desired lifestyle, you can consider yourself rich. You don't have to rely on a regular job to make ends meet and have more time and freedom to pursue your passions and hobbies. Having a stable passive income can provide a sense of security and peace of mind, knowing that you have a reliable source of income that doesn't require your active involvement.

eightdots

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Quote from: libert19 on October 23, 2023, 11:37:53 PM

It's one of question which differs from person to person. How do you define richness?

Being able to experience the things you dream of is wealth. Our dreams must have a limit and a logical basis. Except for some people, no one will ever experience the highest level of everything. Therefore, if you determine the limits of your dreams, you may be able to achieve them. We should not forget that most people are insatiable and are unhappy after achieving what they want.

In fact, wealth is a mental work. If you educate yourself well mentally, you can enjoy life and make your environment better, even if your financial situation is at a normal level. In my opinion, this is one of the greatest riches.

Kakmakr

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This is my perspective on what it means to be rich.....

1. You have enough money to pay all your expenses.
2. Your investments cover those expenses. (money generated from that)
3. You do not have to work for the money... your money works for you.
4. You have good health
5. You have the love of a family and a lot of true friends. (not fake friends)
6. You have zero debt
7. You can "Pay it Forward" (fund charities or help other people with donations)
8. You are true to your religion.

Once you achieve these 8 things in life, you are rich in my opinion.... and you will prosper in life. Wink

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