You are rich if you make $ 100 K per year in the US

[MillCreek]

http://www.dailymail.co.uk/news/article-2520834/One-Americans-earn-100-000-year-point-lifetime.html

Interesting: by some standards if you make $ 100K per year, you are considered rich.  Although in reading the article, I can't figure out if this income cut-off point came from a survey done by an academic in St. Louis or government figures or what.

[brimic]

Income has little to do with 'wealth.'
Aperson earning $100,000 in the rural Midwest or South is going to be a whole lot wealthier than someone in NYC or San Francisco making the same. 

[Monkeyleg]

I could live like a king here in AL on $100K a year. Even $50K a year goes a long, long way. I can get along just fine on $24K.

[Tallpine]

At $100K per year, you might be able to afford health insurance 

[brimic]

At $100K per year, you might be able to afford health insurance 

Sure, if you want the obamaplan with the $100K deductable.

[Fitz]

The only way health insurance is affordable for me right now, at that income, is through Tricare. It's damn near the biggest reason i'm staying in the reserve component.

[T.O.M.]

Combined, my wife and I pull in more than $110K...

but we then pay back over $3,500 in student loan payments we took out so that we could get the education to earn that much.  No one seems to take that into account,  and they wonder why we have such a modest home.

[charby]

Compared to Dik Dik Dirk in some armpit nation a McDonalds employee is a millionaire.

[RoadKingLarry]

Income has little to do with 'wealth.'
Aperson earning $100,000 in the rural Midwest or South is going to be a whole lot wealthier than someone in NYC or San Francisco making the same. 

What I make here in Podunkia would suck out loud in LA, SF or NYC. Here I'm a good bit above average but by no means rich.

[vaskidmark]

What I make here in Podunkia would suck out loud in LA, SF or NYC. Here I'm a good bit above average but by no means rich.

Screw that transcontinental stuff - 100 miles North or  East or West and my buying power goes down by almost a full 50%.  Head South and it goes up by about 20%.  Head out over the mountains and I might as well be living in pre-1970's Belieze or Costa Rica or Baja California.  (And although I can understand it a bit better than Espanol, they do talk different out there.)

stay safe.

[Ned Hamford]

Let's not forget the idea of investment/expenses. Tax man says my commute to work doesn't count but I sure as heck loose a sizable chunk of my annual income there.  Ect Ect Ect
When given these designation amounts, I wonder who is counting and how are they counting.  I remember learning how wealth was counted in college.  Parent's have such and such an income; well, that counts as yours even tho they aren't sharing.  When the gov is involved its not about reality, its the 3 card monty for wealth redistribution to targeted groups. 

[Pharmacology]

http://www.dailymail.co.uk/news/article-2520834/One-Americans-earn-100-000-year-point-lifetime.html

Interesting: by some standards if you make $ 100K per year, you are considered rich.  Although in reading the article, I can't figure out if this income cut-off point came from a survey done by an academic in St. Louis or government figures or what.

Neat.  I certainly don't feel "rich."

I haven't been making 6 figures long enough to really appreciate it, I guess,  but I've kept my expenses the same as when I was a student. I just go to fancier restaurants now when I go out.

[vaskidmark]

Neat.  I certainly don't feel "rich."

I haven't been making 6 figures long enough to really appreciate it, I guess,  but I've kept my expenses the same as when I was a student. I just go to fancier restaurants now when I go out.

Applebees/TGIFridays are merely more expensive that McDs/Hardees. 

stay safe.

[Perd Hapley]

Neat.  I certainly don't feel "rich."

I haven't been making 6 figures long enough to really appreciate it, I guess,  but I've kept my expenses the same as when I was a student. I just go to fancier restaurants now when I go out.

A 1-percenter in our midst! Seize him!

[Balog]

America: where the Microsofty pulling down a quarter million a year and the guy who serves him at a restaurant both think they're "middle class." Which is why every politician promises free puppies and blowjobs to "the middle class."

[MillCreek]

Which is why every politician promises free puppies and blowjobs to "the middle class."

Huh.  I am still waiting for my delivery of both.

[Tallpine]

A single $100K income in the Seattle area is what - an apartment and a Kia ?   

[Lee]

I got the puppies- Spending the rest on vet bills and BJs.
The taxes suck as well.
Seriously though- our household income is a lot more than that.
Take out living expenses (with two teens), taxes, retirement savings, college planning, insurance, etc... we don't have a lot of discretionary income left over. The English forget that we actually have to pay for such things.

[Tallpine]

The taxes suck as well.

Yeah, the more you make, the more the government makes. 

[MillCreek]

A single $100K income in the Seattle area is what - an apartment and a Kia ?   

Pretty much, if you want to live in the trendy parts of downtown or the Eastside.

[Ben]

I know quite a few people here in dual $100K plus income households, many of whom bought their two bedroom homes a few years back when they were going for $800K. Between mortgages, taxes, and kids, they don't have a whole lot of discretionary money available.

[Fitz]

Right now I feel poor. but that's because my house hasn't rented out yet, so i'm paying a mortgage AND rent.

We also drive nice vehicles. Not the smartest thing, but oh well. I've been paying extra on my truck that I've had for a few years now. When it's paid off, that'll help

[MechAg94]

My Dad never made a lot of money, but my parents put all their money into a nice house and working vehicles.  People thought we were "rich" even though the house was most all they had.  It doesn't matter if you are "rich" or not.  People who are lazy or make bad decisions think you have more stuff than them and they will call you rich.   


To me, I am not rich until I don't have to work to pay the bills.  No one ever really counts the truly wealthy when all this is added up.

[Ned Hamford]

Many an 18-B client has been impressed at my having more than one suit and tie... but drive a nicer car than I do.

(18-B is a public defender alternate, meaning they qualify for public assistance)

[Balog]

Huh.  I am still waiting for my delivery of both.

I'll be over later.

A single $100K income in the Seattle area is what - an apartment and a Kia ?   

One year where the wife and my combined income pre-tax was around $100k. Single paid off car, modest house, no lavish lifestyle etc.