At what point do you consider someone admirably rich? At which point, if any, do you consider them immorally rich?
What does financial success look like to you? And is there a point where you feel people should be satisfied and stop being greedy?
Miram · 31-35, F
Without wealth, there is no making tangible changes to help the under-priviliged. This is the world we built in. No wealth, no power, no significant shifts in economic disparities. Wealthy people decide the rules. You can't do much without getting stained yourself with the filthness of money.
But keeping it flow, attempting to level up others, investing it in uplifting suffering are all redeeming qualities that create little balance. Many people advance entire communities as they get wealthier. That is how it should be. If one doesn't foster that sense early on in their journey, there won't be much of it later on. They will lose track and disconnect from reality and no longer hold themselves responsible. Any form of power, even the way we look like, comes with a price. It creates inequality. The lack of admitting and rectifying those imbalances multiplies those inequalities even more.
At what point? At every point, really. A lower class US citizen still has to tend to it just the same, because in some ways they too are priviliged.
But keeping it flow, attempting to level up others, investing it in uplifting suffering are all redeeming qualities that create little balance. Many people advance entire communities as they get wealthier. That is how it should be. If one doesn't foster that sense early on in their journey, there won't be much of it later on. They will lose track and disconnect from reality and no longer hold themselves responsible. Any form of power, even the way we look like, comes with a price. It creates inequality. The lack of admitting and rectifying those imbalances multiplies those inequalities even more.
At what point? At every point, really. A lower class US citizen still has to tend to it just the same, because in some ways they too are priviliged.
Jonjdw · 51-55, M
Hard to tell really. People can look like they have money but be in debt. So that is not really wealthy. Must maybe if they have a bank account with a few million then I guess that would do it. I don’t think 500,000 in the bank means wealthy but I would think I was wealthy with 500,000 in the bank
BlueVeins · 22-25
I think the lower bound for what I'd consider rich in a cool way is $1,679,500. You remain cool up until $17,857,142.86, at which point you're beginning to degenerate. By the $40 million mark, you've reached complete goblin territory.
ViciDraco · 41-45, M
@BlueVeins Haha. 40 million is close to my dream amount. Actually I think it was about 30 million I figured I could live what I would consider a wealthy lifestyle purely off of returns like dividends and interest AND reinvest enough back in to protect against inflation so that I was never actually drawing down and could leave the lump sum to a special cause when I passed.
Realistically if I was just going to spend every dollar and not worry about leaving anything behind I wouldn't need anywhere near that.
But yeah, properly managed 40 million can be the beginning of dynastic wealth.
Realistically if I was just going to spend every dollar and not worry about leaving anything behind I wouldn't need anywhere near that.
But yeah, properly managed 40 million can be the beginning of dynastic wealth.
BlueVeins · 22-25
@ViciDraco From what I've seen, happiness is at its maximum at $500k in income a year.
If you invest in SCHD -- which is an index fund that specializes in dividend stocks -- you get a 3.5% rate of dividend yield, which grows faster than inflation. Taxed at long-term capital gains rate. Dividend stocks tend to yield ~20% less in a recession.
$500k / .80 / .035 = $17,857,142.86. It is this logic which leads me to believe that nobody needs more wealth than that, unless they have cancer or something.
If you invest in SCHD -- which is an index fund that specializes in dividend stocks -- you get a 3.5% rate of dividend yield, which grows faster than inflation. Taxed at long-term capital gains rate. Dividend stocks tend to yield ~20% less in a recession.
$500k / .80 / .035 = $17,857,142.86. It is this logic which leads me to believe that nobody needs more wealth than that, unless they have cancer or something.
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whowasthatmaskedman · 70-79, M
@RockerDad Those people are the real heroes to me..Donating is fine. But your time is something you give that you never get back..😷
whowasthatmaskedman · 70-79, M
Bill Cosby (of all people) said it best. "Rich is when you dont work for your money.. Your money works for you"😷
hunkalove · 70-79, M
I would never admire anyone for being greedy.
NOS4R2 · 41-45
Do you mean admirably or enviably ?
Not sure we ever admire rich people
Not sure we ever admire rich people
NOS4R2 · 41-45
@ViciDraco i think they turn themselves into celebrities.
Post enough comments, be seen enough, be visable to the masses with the right people - and the masses just respond.
I dont think we aren't the active ones, we are just the battery of consumerism they plug into to fuel their trajectory.
Post enough comments, be seen enough, be visable to the masses with the right people - and the masses just respond.
I dont think we aren't the active ones, we are just the battery of consumerism they plug into to fuel their trajectory.
SpudMuffin · 61-69, M
What is admirable about being rich?
Jonjdw · 51-55, M
@SpudMuffin I ignored that part lol.
ViciDraco · 41-45, M
@SpudMuffin It's an open question. What is there to admire about being rich is just as much part of the question as is the definition of rich. If your answer is that there isn't a way to be admirably rich or nothing about wealth to admire, then that is an answer in itself. And not one I would find much disagreement with.