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
Topic: What does being rich mean in your perspective? - page 11. (Read 1267 times)
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.
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.
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.
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.
It's one of question which differs from person to person. How do you define richness?
With me, rich is how I live with freedom, kindness and full control of my finance and my wealth being, health being as much as I can do.With Bitcoin, Bitcoin blockchain, Bitcoin open source self-custody wallets, I can have it.
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.
+++
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.
https://medium.com/@vikasjangir/steve-jobs-last-words-d79012fad236
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🎥 Bob is interviewed by reporter George Negus (60 Minutes Australia) at 56 Hope Road in Kingston, 1979.
+++
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.
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
It's one of question which differs from person to person. How do you define richness?
To me, being rich means achieving stability in your finances, knowledge, and every aspect of your life that needed improvement. While many define wealth as having more than enough money and living a comfortable life, I believe richness goes beyond finances to include moral and emotional well-being. It's about finding a balance in all aspects of life that hold significance.
When we talk about wealth, we immediately think of money and property, no one thinks of happiness, emotions or morality. If someone has a stable career, a happy family, has everything and they are satisfied with life, then that person is successful in life. I think rich people will be different from successful people in life.
Money is only a measure of a person's wealth, not a measure of a person's success in life. But when we have a lot of money, our lives will be easier to achieve happiness, love, and health than when we don't have money. Therefore, money is very important and is the premise of many other things.
legendary
Activity: 2828
Merit: 1213
Dont be a ShitcoInfluencer for quick bux, it sucks
Coming from the economics perspective and why we all are here, rich means owning assets whose cumulative value is much higher than the average person in your country can more like <10% can afford.
But in the semantics, rich can mean having plenty of something, that can be money, power, a big heart and so on. But we are not here for that at all.
Hence its all a matter of how you see things. But if you want to get rich, none of the above two are easy.
But in the semantics, rich can mean having plenty of something, that can be money, power, a big heart and so on. But we are not here for that at all.
Hence its all a matter of how you see things. But if you want to get rich, none of the above two are easy.
It's one of question which differs from person to person. How do you define richness?
The definition of wealth is relative. In my opinion, people have different views on defining wealth. Materialistically, wealth is defined as lots of money, lots of property, being able to invest anytime and anywhere. For some people, wealth is not always calculated by how much property they have, they define rich in a very simple way. For them, wealth is measured in terms of the health of themselves and their families and having money to finance their family's needs.Wealth is relative to each individual. It depends on which side you judge the meaning of wealth.
It's one of question which differs from person to person. How do you define richness?
To me, being rich means achieving stability in your finances, knowledge, and every aspect of your life that needed improvement. While many define wealth as having more than enough money and living a comfortable life, I believe richness goes beyond finances to include moral and emotional well-being. It's about finding a balance in all aspects of life that hold significance.
It's one of question which differs from person to person. How do you define richness?
Jump to: