How Much Money You Need To Be Wealthy

Economy & Finance
1

I see greed and envy is running rampant on the forum lately, with people obsessing how much the other folks have… :smile:

Here’s a study right up your alley folks. Bottom of the list, you only need 1.8M to be wealthy in Charlotte NC. What city is on top? Guess? Anyone?

No.3:

Washington, D.C.

To be financially comfortable, you need a net worth of $780,000

To be wealthy, you need a net worth of $3 million

No. 2:

New York, New York

To be financially comfortable, you need a net worth of $1.1 million

To be wealthy, you need a net worth of $3.2 million

No. 1 … DRUM ROLL…

San Francisco, California

To be financially comfortable, you need a net worth of $1.1 million

To be wealthy, you need a net worth of $4.2 million

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2

You’re very obsessed how much is needed to be FIRE and be wealthy.
Look like your $5 mil per person (or is it adult) to be FIRE is in fact being wealthy :grinning:

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3

I like to set goals for myself. For FIRE you just need to calculate how much income you need and work backward. I think for a family of 4 in prime Bay Area 200K should be comfortable. How much capital you need depends on your investment returns.

“Wealthy” is more subjective. My 5M per head, kid or adult, is just some random number I pulled out from the sky.

4

Yes, this forum is full of the most greedy people I have ever seen in a… forum :rofl:

Here’s my list of top 5 greedy people on the forum (1 being most greedy)

5: @sfdragonboy
4: @ptiemann
3: @Elt1
2: @hanera
1: @manch <-- greediest b*stard ever, and he’ll take this as a compliment :rofl:

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5

Don’t me wrong, I like green as much as anyone else, but it is def not a main focus. I still say I find it real ironic that when you were younger you fantasized about the cars and goodies but then later when you actually have some dough in your pockets you could care less about the cars and goodies…

6

Absolutely, of you had to choose between your wifey and your 6 doors, you’d choose wifey in a heartbeat :wink:

7

Shockingly only one of the 3 piglets on the list. :smile:

8

Us piglets are nothing compared to the Papa Pig :pig:

:rofl:

9

Count yourself lucky.
I am waiting for the tiger.
扮猪吃老虎

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10

Greed is Good… Gordon Gecko

11

You have just displaced @hanera for the #2 spot… :rofl:

@ptiemann and @Elt1 are rolling on the floor laughing at such ridiculously low bar… come on San Franciscans, you can do much better than that!!! :rofl:

12

Well that’s how the story goes, only one pig triumphs. The rest become pork chop dinner because you can only go so far with houses built in straw and sticks.

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13

Well, only the mama pig and papa pig will get slaughtered and eaten by the wolf here.

14

Manch a 7? :+1:t3:

15

Very weird. Lists mainly Americans but using world wide statistics. In reality all Americans are rich compared to subsistence farmers in the third world. So rich we have to import our poor people.

16

Most people will never understand the log scale. To them, 5 vs 6 is one number away and close but it’s really 10x more wealth. It’d be more useful to show the percent of people in each. I’d make it a a graph showing the percent in each category.

17

I agree with you. I’m waiting to see your graph.

18
19

This seems wrong. Last time I checked the top 1% threshold needs to be at least $17M, and that was back in 2019… Aim higher people. $4M is not going to cut it :slight_smile:

20

I would like to see age adjusted or categories.