#MoneyGoals #FinancialFreedom #RichLife
💰 How much money would make you feel rich? 💸
When it comes to feeling wealthy, the amount can vary greatly from person to person. Some may feel rich with just a few thousand dollars in the bank, while others may not feel wealthy until they have millions. It ultimately depends on your personal financial goals, lifestyle, and values. In this article, we’re going to explore the concept of feeling rich and how much money it might take to achieve that feeling.
## Defining “Rich”
What does it mean to feel rich? For some, being rich may mean being able to afford all of life’s luxuries without worrying about money. For others, it may mean having enough financial security to live comfortably and pursue their passions. Ultimately, feeling rich is a subjective experience that is influenced by both internal and external factors.
### Internal Factors
– Personal financial goals
– Priorities and values
– Relationship with money
– Perception of wealth
### External Factors
– Social comparisons
– Lifestyle choices
– Media and advertising influence
– Cultural norms
## Examples of Feeling “Rich”
To put things into perspective, let’s look at some examples of what feeling rich might mean for different individuals:
1. *College student*: A college student may feel rich with just a few hundred dollars in their bank account, especially if they are able to cover their living expenses and have some extra spending money for outings with friends.
2. *Young professional*: A young professional may feel rich once they have paid off their student loans, built an emergency savings fund, started investing for retirement, and are able to afford a nice apartment and travel occasionally.
3. *Established entrepreneur*: An established entrepreneur may feel rich once they have built a successful business, diversified their investments, purchased a home, and can afford to support their desired lifestyle without worrying about money.
4. *Retiree*: A retiree may feel rich once they have saved enough money to enjoy their golden years without financial stress, travel the world, spoil their grandchildren, and pursue their hobbies and interests.
## Factors Influencing How Much Money Would Make You Feel Rich
Several factors can influence how much money it would take for you to feel rich. Consider the following:
1. *Goals and expectations*: Are your financial goals modest or ambitious? Do you want to live a minimalist lifestyle or indulge in luxury experiences?
2. *Debt and expenses*: Do you have consumer debt or student loans to pay off? What are your monthly expenses, and are they within your means?
3. *Income and assets*: How much do you earn from your job or business? What assets do you own, such as real estate, investments, or valuable possessions?
4. *Mindset and perspective*: How do you define wealth and success? Are you content with what you have, or do you constantly compare yourself to others?
## Tips for Achieving Financial Wealth
If you want to feel rich and achieve financial freedom, consider the following tips:
– Set clear financial goals and create a realistic budget
– Avoid lifestyle inflation and live below your means
– Save and invest consistently for the long term
– Pay off high-interest debt and build an emergency fund
– Educate yourself about personal finance and seek professional advice if needed
## Conclusion
In conclusion, the amount of money that would make you feel rich is a personal and subjective matter. It depends on your financial goals, lifestyle choices, values, and mindset. Whether you feel rich with a modest income or require millions to feel wealthy, the key is to prioritize financial health, set realistic goals, and live within your means. By taking control of your finances and making smart choices, you can achieve a sense of financial freedom and security that will make you feel rich, regardless of the number in your bank account. Remember, wealth is not just about money; it’s about having a sense of abundance, gratitude, and fulfillment in all areas of your life. Start building your wealth today and take steps towards the rich life you desire! 💪🏼💰
$10 million
I speak with mega wealthy people on a daily basis. For some of them $10 million wouldn’t change their lives one bit if they lost that. But it would change mine enough where I’d never need to worry about money again
I’m old enough and experienced enough to know how to invest it for a liveable return, except I’d just keep working anyway and grow the account and supplement my income and lifestyle off some of the interest
1mil in investments
At that point, money wouldn’t be as hard to obtain as it would’ve been before. I could just let it sit and grow if I don’t have any other financial pursuits.
I would have to say 100 million because most of it would be in investments with monthly dividends, so I wouldn’t ever have to work again. I’d use some to buy large property far from any city. I’d then build a home with a large garage so I can finally have the classic cars I want. There’d be a fully equipped kitchen so I can cook whatever I want. Basically, I want enough money to have all my myriad of interests funded and supplied well.
Here’s the secret, you don’t need a lot to be happy…
If you make 100k and you can live like you make 50k you’re laughing…and if you have duel income and you can get to a level where you and your SO make a combined income of 200k but live like you make 100K, and you learn how to invest the money you save, you can live one hell of an amazing life!
This issue is that most people spend according to what they make, so if they make 100K they spend 120K, they buy nicer cars, bigger houses, more clothes etc. and it adds up…
If you keep your lifestyle generally the same, but maybe add in a few nice things that really increase the quality of your life like a few cool vacations or getaways, maybe a few more nights out with the SO etc. but you live in a smaller house, drive a “regular” car and don’t waste money, you can live with freedom, peace of mind and get ahead in life without having to sell your soul to a job you hate just to have more “things”
People want things because society tells us that things will make us happy, that things will make women want us more, and that it’s what we’re here do…collect “things” But true happiness comes #1 from being surrounded by people you love and making memories with them and #2 from pursuing something meaningful in life that excites you and makes you want to get out of bed each morning…everything else is just a bonus and really doesn’t add much joy or fulfillment to your existence…
That’s the secret…figure out what you’re good at and what you love, and figure out how you can use that thing to make money and contribute to society, make it your life mission to pursue that thing with all your energy and life force…breath it, eat it, love it, consume it!
Next, find yourself a good woman who shares the same values and goals as you, a woman who will support your “purpose” and help you achieve your goals, work together, experience life together, laugh, love, make love, cry, do all the things!
That’s true wealth gentlemen, that’s how to live your life…don’t worry about what other men are doing, don’t compare yourself to other men, chances are you don’t want that lifestyle because it comes with it’s own set of problems…do what you love, do what you’re good at and you will figure out a way to make a good living, and if you’re luck, you will get rich doing what you love…but it won’t come because you’re chasing money, it will come because you’re passionate and giving value
Around $10M would make me feel like I could comfortably give up working and live off capital gains wherever I like.
10 Million USD
It’d just be nice to never have to consider money when wanting to do things like travel or go enjoy yourself or worry about bills
If I had all the money I would ever need for the rest of my life right now.
Grew up poor so probably 40k lol.
10k per month
100k and no debt. More money wouldn’t make me feel any different.
Rich for me is living in a paid off nice home with no debt and enough money in investments that I don’t have to pay close attention to them.
So for me, it would be a paid off 3500 sqft home and $5 million in investments giving me around $200k per year. Or around $120k after tax. With no debt that is enough to take multiple international trips each year and buy essentially anything you want.
That is rock bottom for rich. To really say someone is comfortably rich, I would bump it to $20 million. At this level owning a plane or a helicopter is not unreasonable. Having hired help is also reasonable.
There are a few levels of wealthy in my opinion. The first one is 5 million. This is enough money that most people would never have to do anything they didn’t want to do again for the rest of their lives. This is the “I don’t HAVE to do anything” mark. The second one is the 10 million dollar mark, that is where you can start doing things that you dream about doing because you have enough cash to risk some of it and still be able to be at the first mark. This is the mark of not only not having to do anything, but also being able to take some risks and not fall back into having to do things if they go poorly. Then there is the 100 million dollar mark. As the first mark was the “I don’t HAVE to do anything” mark, this is the “I CAN do anything” mark. At 100 million dollars you can put your hand into any game you want to be a part of in your life. Want to make a movie? Done. Want to fund a politician? Done. Want to start a company just for the sake of putting someone you don’t like out of business? Done. Then, there is the billion dollar mark. Once you are there, it’s all about power. You already could have played any game you wanted to play at the previous mark, now you get to make the rules. Once you are here, more money doesn’t really matter all that much. Anything above a billion is just competition to see who can make that number go even higher.
For me, I would love to be at that 100 million dollar mark so I could do ridiculous things like turning my favorite book into a movie or something, but much more realistically I’d like to one day be at the 10 million dollar mark. Then I could refuse to do anything I didn’t want to do, but also be able to take some risks like being the head of a new startup company or something like that. The only one that is realistic for me is the first mark though. With my career, it’s possible, but I’ll have to make smart moves and budget appropriately to get there.
$5m is very comfortable. Enough to have a good house, a good lifestyle, and invest enough to let interest give you positive cash-flow. It’s not like I could buy a boat or plane or go crazy with fancy luxury cars or anything, but I’d have security, predictability, reliability. It’d also be enough to take care of most nasty sudden surprises that pop up. I could buy nice watches, nice mattresses, have nice dinners, and travel, but nothing outrageous. The biggest thing is that even shitboxes with no real property acreage are going for like $650k around here.
Filthy rich where I could just indulge and spend like money ain’t shit? That’s more like $20m and up.
100 million of above really. I want enough money that with basic interest, I’ll still stay rich.
$100million
Enough to not have to worry about money. I calculated it around $3 million for myself but that was several years ago, the economy has suffered more than I thought it would back then but I’m also older and closer to being able to dip into the principle so probably closer to $5-7 million.
$5M would do it. I’d retire and that would make me feel rich enough.
A nice wife, a good dog and 2 kids.
I think I’d feel rich at about $10 million. A million isn’t what it used to be.
Around 500k usd should be enough to buy a decent house in a decent area in my city, and with that I would feel rich.
Now if I get a full 1M USD, I could buy some land in my home town, built a home and have a nice amount to start a little farm or something, so yeah, 1M USD will make me feel rich af
$10 million
$10 Mill.
$5 million, roughly the point at which I reckon I could maintain my current lifestyle for the rest of my likely life without having to work
I have about $74000 left to pay off the place I live, $7000 of medical debt, $4300 of credit card debt, and I have general plans for about $15000 in repairs and small upgrades. So I think if I got double that amount I would feel pretty rich.
So maybe like $200,600? That would make me feel very rich.
To be rich IMO means not having to worry about my basic needs (food, shelter, insurance, health/dental care etc). It also means having the time to spend more time with the people I love, give back, make new connections, spend time in nature, explore the world, experience new things and learn about different cultures. To be rich = self actualization. The freedom to do what aligns with my core values, talents, interests and who I am, rather than being just another cog in the wheel working a job I despise just ti sustain myself. I’m in my mid 30’s so I would say about 3 mil.
$5mil-$10mil
Warning: the answer is always “more”
15 million dollars would be the base. Anything under would make me feel comfortable, but not really rich. After taxes and paying off my family’s debt, I would have a few million left over for my daughter and grandsons to have incredible lives.