How much $$/Year do you consider to be "rich"??

[Gweedo]

Go here and Vote, results should be interesting

http://pub61.ezboard.com/fthelandofboykofrm15.showMessage?topicID=55.topic

[legereandrew4]

:dunno:

[Gonthro]

i'd be more than happy with 50k a year

[Red1]

when i get my ticket i will be making around 80-90....depends.

oh ya ....i'm a electrician

[hjr]

ummmm, rich is like multi million dollars a year. sure you have a comfortable life at 110k+, but thats not "rich"

[Ekliptix]

I'd be pretty happy with $80k/year...for a while.

[Ben]

100000k/year take home.

[thich]

50-60k/year + benefits is good for me

[hjr]

Originally posted by Ben
100000k/year take home. sooooooo 200 large then... Damn canada, high taxes

[Toma]

Originally posted by hjr
sooooooo 200 large then... Damn canada, high taxes

Unless you are a bartender making $1000 a night 3 nights a week ;), or a Cowboys fake tit bimbo making $500 a night 4 nights a week.... no taxes then ;) ;)

[Shaolin]

100K i would consider myself successful, a couple bars a year and I'd say I'm rich.

[illeagle]

or a 3rd ave pimp who deals crack, runs a chop shop, and is a full time brain doctor, and produces music in spare time.. he/she should be rich... right?

[ZorroAMG]

have all the fucking salary you want but if you spend 180K making 190K take home, you AINT rich....It's about your accounts and savings and investments that make you rich foo!

[JordanLotoski]

[QUOTE]Originally posted by SIRCANADA
[B]

not true..u could be making 180k a year and spending 150k a year in mortage payemnts on your 2.5 million dollar home and 13,000 monthlys on your enzo......and i know cars are a bed investment..but then enzo isnt gonna lose much

[T5_X]

Here's a good answer... if you're a car enthusiast, you're NOT rich no matter how much you make ;)

[Marsh]

from Stats canada i heard only 1% of the population makes over 100,000 dollars....quite shocking

[Shaolin]

Originally posted by T5_X
Here's a good answer... if you're a car enthusiast, you're NOT rich no matter how much you make ;)

hah well i beg to differ.. there's people out there that make stupid amounts of money, and they have lots of toys.

gg gumball drivers :D

[GTS Jeff]

rich is when you have enough money to do whatever u want without worrying about money. personally, i wouldnt settle for 100k/year. you would have to work like 10 years to afford a nice ferrari....fuck that.

[MM99lude]

Over a million a year i would consider rich. Less then that is "really well off"

but at 19 i'd say between 20k-30k for me to feel "rich"

[Redlyne_mr2]

Originally posted by ZorroAMG
have all the fucking salary you want but if you spend 180K making 190K take home, you AINT rich....It's about your accounts and savings and investments that make you rich foo! :werd:

[Hakkola]

Rich isn't all about money in my eyes, rich is the pompous ass pumpers that are named Chet and enjoy croquet and a day at the spa at their favorite country club.

Rich is having at least a million dollar home, and being a bitch to people that have less money than you.

I'd hate to be "rich," "well off" is more like it. I fuckin hate the word rich, reminds me of all the snobs I've met, including a bunch of my fucking ass clown neighbours. "Rich" people just like flaunting money and that's all they live for, their lives suck and they have few, if any real friends. These are the people that think, "hey, since I have money I don't have to stop at this stop sign."

Anyway, sorry for the rant, wealthy is a much better word. To even be wealthy you need to be making at least 200 000 grand a year and hit it big with investments. However, that number can change depending on # of children and other costs.

[Altezza]

Originally posted by Marsh
from Stats canada i heard only 1% of the population makes over 100,000 dollars....quite shocking

IIRC, 6-7% of Calgarians make that much.

48% of downtown workers make over $70k/yr.

[ZorroAMG]

WTF man 48%...lol yeah there are like a 100,000 secretaries downtown..


remember, 67% of all stats are made up..

[sputnik]

rich for me is being able to pay my mortgage, bills and stuff without having to work... its all about living meagerly until i can invest in houses, businesses and stocks so that the returns pay my "salary"

i would sooner have $750k or so in investments than make $100k/yr and have to work everyday.

you guys should all read the book "Rich Dad, Poor Dad"

[benyl]

Originally posted by ZorroAMG
WTF man 48%...lol yeah there are like a 100,000 secretaries downtown..


remember, 67% of all stats are made up..

Most of those 100,000 secretaries have been working for 10 years or more... I know quite a number of secretaries that make over 70K/year

Union does wonders for people... That why I don't like Unions...

[mo_virgin]

Yeah man... exec secutaries make insanely good cash, 75K and up. And they get good benifits. But your still a secratary...

[CLiVE]

Originally posted by Marsh
from Stats canada i heard only 1% of the population makes over 100,000 dollars....quite shocking

Wow, hard to believe.....:eek:

[Loose]

What cracks me up is fools up to their eyesballs in debt TRYING TO LOOK RICH....

...or guys that don't even have debt! They rent their flashy apartment/house and lease their 350Z/Boxster:tongue:

To me, being rich is being able to buy the things that YOU want, without having to save or struggle.

[lint]

Originally posted by sputnik
...
you guys should all read the book "Rich Dad, Poor Dad"

Speaking of Kiyosaki, this guy makes some interesting points
rich dad, poor dad? (http://www.johntreed.com/Kiyosaki.html)

[sputnik]

Originally posted by lint


Speaking of Kiyosaki, this guy makes some interesting points
rich dad, poor dad? (http://www.johntreed.com/Kiyosaki.html)

Interesting read. But it was also written by someone who sells "information" on how to get rich buying and selling real estate.

You cant read Rich Dad Poor Dad as gospel truth. But it can be an eye opener as to how to leave within your means and how NOT to spend money. The book is guaranteed to make you rich, but it will give you a lot of common sense insight as to how not to make yourself poor.

There is also a good chapter on taxes which is worth reading.

[max_boost]

Rich is when you have so much money, you can live off of interest alone; at least that is how I define rich.

Well off is when you can pay for all your bills and have disposable income to invest and still enjoy your hobbies in life.

Making lots of $$$ doesn't come easily, I still remember the days in highschool where all my buddies were telling how they were going to become millionaires etc.etc. Last time I checked, majority of them are still working in labor jobs getting paid $10/hour. LOL

$200,000/year and if spent/invested properly, will eventually lead you to being rich:bigpimp:

[dogmaiwli]

Grumble, You knew this was coming

I Consider myself rich, even though I only make 20 a year
But i Have a Great Family, Awesome friends a roof over my head a job and a car to drive. oh and Leisure time :)


I could ask for more, but why?

I like to play and have fun and do the best with what I've got.

[lint]

Originally posted by sputnik


Interesting read. But it was also written by someone who sells "information" on how to get rich buying and selling real estate.

You cant read Rich Dad Poor Dad as gospel truth. But it can be an eye opener as to how to leave within your means and how NOT to spend money. The book is guaranteed to make you rich, but it will give you a lot of common sense insight as to how not to make yourself poor.

There is also a good chapter on taxes which is worth reading.

Kiyosaki also sells information on how to get rich. That seems to be how he made his money, not through real estate as he said. It is hard to believe that he and his wife, while living out of a friends basement and unemployed, were able to buy 2 properties a year in order to "retire". I've read his book, and others in the series. Rich dad isn't that great for practical information. Everyone who has read it comes away with something different. There really isn't a clear message. It does get you in the right frame of mind that wanting money isn't evil. However, he downplays education so much, that from reading his book, you get the impression that it is easier to be rich if you're uneducated. Don't agree with this point at all.

I think you meant to say that the book is NOT guaranteed to make your rich.

And the tax information is pretty much useless here. Better to find a Canadian tax law specific book. Although his guide to investing was interesting.

[legendboy]

We had a guy at lonestar come thru the finance office this one time. his montly gross salary was $850k/mo. i consider that rich.

[Toma]

Originally posted by Altezza


IIRC, 6-7% of Calgarians make that much.

48% of downtown workers make over $70k/yr.
buwahahahahahahahahhahahahahhahahahahah, hahahahahahha

Oh shit, now that's funny ;)

[thich]

Originally posted by Hakkola
Rich isn't all about money in my eyes...

I'd hate to be "rich," "well off" is more like it.

hmmm... i stand corrected in my choice of words...
I prefer "well off" as well. :thumbsup:

[w3apon]

Originally posted by legendboy
We had a guy at lonestar come thru the finance office this one time. his montly gross salary was $850k/mo. i consider that rich.

850K/month and he still needed to do financing?
What did he want to buy... Canada??

[Toma]

Yep, Kyosaki is uselss. He has one good point that everyone knows anyway.... make your income from the lowest taxed sector. :nut:

I would reccomend classics like "The Richest Man in Babylon" and "Wealthy Barber" to put you in the mood to save, and think frugally.

Then "The Millionaire Mind" is a cool read as is "The Millionaire Next Door"

Comes down to one thing.... if most the things you buy are appreciating assets (classic cars, real estate), then you will get ahead. If everything you buy are rapidly depreciating assets (new cars, electronics etc...) then you won't ;)

[mo_virgin]

Originally posted by w3apon


850K/month and he still needed to do financing?
What did he want to buy... Canada??

Man... He owns LONE STAR... if he's investing in something its not gonna be a something small... of course he needs financing. With the rich there is no limit, condo projects, office buildings, diamond mines. Those types of projects should easily run into the hundreds of millions.

On another note... rich dad poor dad is a very good book. If you learn absolutely nothing about investing in it. It totally changes your perspective on money. Tell the average person it doesn't take money to make money and they won't get it at all.

[403Gemini]

anybody wanna offer me any jobs that will pay me 20-30k a yr?

[three33]

i say 50k a year is pretty good...considering the average person takes home 32k and can still live quite comfortably

[sputnik]

Originally posted by Toma
Comes down to one thing.... if most the things you buy are appreciating assets (classic cars, real estate), then you will get ahead. If everything you buy are rapidly depreciating assets (new cars, electronics etc...) then you won't ;)

Sounds like most of Beyond. (Not in the good way)

BTW - "The Millionaire Next Door" is a GREAT book.

[QuasarCav]

damn, 50k a year would not make me happy.

Kids/wife/rrsp/kids education/vacation/cars/property

All that stuff adds up

100k take home would make me feel good.

Even at 28k i'm struggling to pay for everything, and i live at home!

[legendboy]

Originally posted by w3apon


850K/month and he still needed to do financing?
What did he want to buy... Canada??

leasing an s-class...

[Altezza]

I kid you not, LOL. Our company commissioned a well known 3rd party firm research firm to conduct a demographics study of the downtown workers. Overall, it states that 48% of downtown workers earn over $70k. Skewed? maybe, but that's what the report says.

[Redlyne_mr2]

Originally posted by w3apon


850K/month and he still needed to do financing?
What did he want to buy... Canada??
People with alot of money are usually good with money as well. They realise how silly it is to pay $150K for a car when they could invest that money and make even more money off of it. If they lease a vehicle however and they have some sort of business wether it be a numbered company or an active business then they can write off the lease payments, insurance, gas etc as expenses. Hehe to me another definition of rich is someone who goes to the Barret Jackson and buys 3 cars for $200 000 USD each, you know those guys are paying cash for those

[thich]

Originally posted by Altezza
I kid you not, LOL. Our company commissioned a well known 3rd party firm research firm to conduct a demographics study of the downtown workers. Overall, it states that 48% of downtown workers earn over $70k. Skewed? maybe, but that's what the report says.

i can vouch that.
last semester i did a marketing project and we had to find some demographics information and it sounds about right.
also apparently a good majority of people who live in NW also make over $70k a year.

[RiCE-DaDDy]

Making 50k when your in the 20's and single...THATS RICH!
or might be the richest some of us will ever be. Even a 100k family man cant match that

[Maxt]

Originally posted by Red1
when i get my ticket i will be making around 80-90....depends.

oh ya ....i'm a electrician

You are in the wrong trade for those kinda numbers, unless you go North, but the it will cost you twice as much to live up there than it does here.... most electricians are in the 50-60k a year range....
To crack the 80k barrier,in the trades, you need to be:
An elevator mechanic
a refrigeration mechanic
Instrument mechanic
aircraft mechanic

Rich isn't what you make, Rich is having money in the bank and no debt, which sadly, is only about 8% of Canadians..

[Gondi Stylez]

to me rich is having enough money to live how you wanna live! for me, i would love to have a nice car, nice house and all that, but also beable to buy a boat for my wife and kids and have enough $$ to send my kids to school to become whatever they wanna do!

i know making money is hard, but if you have goals set for urself you can do it! you dont need to have a "Well paying" job to beocme rich, you just need to be smart with ur finances!

but hey ill keep my fingers crossed that in a WHILE ill be the surgeon im working to become! so then for my career choice 200-300k /yr is attainable! but it also dpends what type of DR. you wanting to become!! haha!! :bigpimp:

[mo_virgin]

yeah like Dr. Nick^

"What? who thought that inflammable means flamabale?"

[air_mikey]

rich is when you dont have to work for your money just let your assets make you money so you can spend money on whatever you want without worrying.

[Gondi Stylez]

Originally posted by mo_virgin
yeah like Dr. Nick^

"What? who thought that inflammable means flamabale?"

:rolleyes:

[rage2]

Originally posted by RiCE-DaDDy
Making 50k when your in the 20's and single...THATS RICH!
or might be the richest some of us will ever be. Even a 100k family man cant match that
haha I was making 60k and living at home in my mid 20's. I felt rich. Now that I've got big mortgage payments (as well as year end mortgage payouts), I feel like a poor bastard.

I should move back home with my parents haha. Guaranteed I'll feel rich!

[sml]

It's an interesting question... But like everyone said, how rich you "feel" really depends on the person you are. If you're 20 and you make $50k and you live at home, you will feel hella rich. But if you're 30 and make $50k and you have a mortgage, then you';; feel hella poor. Now if you're 60 and make $20k and you live at home with your kids (who supports your), then you won't have a worry in your life about money.
Once a wiseman man told me that it doesn't matter how much you make, it's how much you can save. It's better to save $1 than to make $2 cause you're bascially giving $1 to the government by working twice as hard. So, forget about gross or net wages and start thinking about investments, investments, investments...

[redx2nv]

Originally posted by legendboy
We had a guy at lonestar come thru the finance office this one time. his montly gross salary was $850k/mo. i consider that rich.

Shit, one of our neighbors owns telus mobility(part owner maybe). He makes around $700000(rumored but i beleive it) a month or so, this guy is fucking bling. Last time i checked he had 2 brand new escalades for winter cars, a few amg benzs, couple old school hot rods, multimillion dollar house. hell even his motorhome is worth more than double our house(and i live in a nice house in a nice neighborhood).

I wanna be rich, but ill be happy with $60-$100k a year.

[Altezza]

Originally posted by redx2nv


Shit, one of our neighbors owns telus mobility(part owner maybe).

You are probably mistaken. Telus Mobility is a wholy owned subsidiary of a public company. Technically anybody can be a part owner. Perhaps he owns numerous Telus Mobility affiliated resellers.

[max_boost]

Originally posted by rage2

haha I was making 60k and living at home in my mid 20's. I felt rich. Now that I've got big mortgage payments (as well as year end mortgage payouts), I feel like a poor bastard.

I should move back home with my parents haha. Guaranteed I'll feel rich!

The thing is, I'm sure you are making a lot more than $60K now :D

Living at home has some awesome perks......allows you to save for virtually ANYTHING you want!!:thumbsup:

I think rich is a relative term, also dependent on those around you. Compared to some of my other friends who are my age, I am far better off than they are, but on the flip side, there are also others who are much more successful.

[97GSR]

Originally posted by Maxt


You are in the wrong trade for those kinda numbers, unless you go North, but the it will cost you twice as much to live up there than it does here.... most electricians are in the 50-60k a year range....
To crack the 80k barrier,in the trades, you need to be:
An elevator mechanic
a refrigeration mechanic
Instrument mechanic
aircraft mechanic

Rich isn't what you make, Rich is having money in the bank and no debt, which sadly, is only about 8% of Canadians..

You are right...the big money for us electricians is up north, and yes, it is expensive to live up there. The trick is to work for a company like I do that pays for your travel back and forth. I average about 8k/month working 3 out of 4 weeks, works out very well for me.

Now to respond to the question, rich to me would be anywhere over the 250k mark. I can't really explain why, it's just always been a number in my head that sounded good. Between me and my wife we do alright (100k+), but I don't consider us anything more than well-off.

[sputnik]

Originally posted by rage2

haha I was making 60k and living at home in my mid 20's. I felt rich. Now that I've got big mortgage payments (as well as year end mortgage payouts), I feel like a poor bastard.


I know that feeling all too well. I'm in my early 20s with no wife and a mortgage. I wish I could have worked where i do and lived at home. However my parents live in Winnipeg and there I would be in the high-30s.

I enjoy watching the guys at work that make in the $35k ballpark and their wife/girlfriend makes about the same and then they go out a buy a $280k house and think they are rich (until they start making payments).

Remember kids... Just because the bank says you can borrow X amount of money... doesnt mean that you can still survive on what is left over.