Your Definition of Being Rich/Wealthy

[jtansanco]

$150,000/year should do the trick. But, then again. No one will ever be contented in life so I'm sure I'll need more. Haha

[TysLolakins]

^ bro hindi pa rich ang 150k/year sa SoCal  .  siguro 2x niyan, baka sakali na comfortable na.

[jtansanco]

^ Where you at in California? Haha. I'm actually near SF so it's more expensive here but lucky to have cheap rent. $150k/year should be enough to enjoy the American Dream. Hahaha. Define rich? Has to be $1M/year AKA athlete's salary. Kainggit! Hahaha

[TysLolakins]

^East Ventura County (SV/TO/Moorpark).  agreed, inside SF is more expensive.
ano nga ba ang rich,  i guess it's all relative,  walang one definitive or conclusive answer. 
i  have never been rich in my life so i don't know what i should have to define me as one.
but definitely more than 150k/year....kidding! 

[jtansanco]

^ Sounds very far from my place. Haha. But yeah, every person has his/her definition of being rich. One thing I can say and that is living here makes me feel rich because I only have first world problems. Haha

[melodymedley]

Being able to sustain the quality of life that makes me happy, without selling my time.
If you need a lot of stuff to make you happy, you need to make a lot of money, you have to sell your time. 

Some financial gurus really push for entrepreneurship. I figured out that I am not an entrepreneur, and there is nothing wrong with that. I have no inclination of being one. I am an employee. I sell 8 (or 10, counting the work preps and commute) hours of my life so I can live the rest.

I am not an advocate of work-life integration - or that thought of finding your passion then pagkakakitaan mo. I have a multitude of interests, that require a lot of my TIME. Ayoko na pag-isipan kung pano ako kikita doon. It makes me happy when I get to pursue my interests.

My gameplan is to save a lot immediately, so that I can buy my time.

Related reading materials:
Your Money Or Your Life by Joe Dominguez and Vicki Robin(book)
Mr. Money Mustache (blog, I highly recommend!!!)
Early Retirement Extreme (blog)

[TysLolakins]

^sis melodymedley, totally agree with everything you said esp  not being an entrepreneur  and work-life integration.  I could not have put these any better than how you had defined it.  well expressed!

[ikaela]

^^Couldn't agree more, too. The last time I tried making money out of a passion, I ended up killing that passion. Haha.

Entrepreneurship is also a special blend of skills, mindset, risk-taking, capital, time, and luck. Not everyone can go down that path. It may be the quickest way to huge wealth, but there are other levels of wealth and many other ways to get there.

[telekikay]

it all depends on ones outlook in life. pero i dont mind being part of forbes top 10 richest man.

[letters_to_cleo]

Mine would be:

At least 1M$ in liquid assets (or those that can be easily converted) such as stocks and paper investments

A slew of passive investments that can provide for the daily living expenses: rentals of apartments/ properties

A  co-businesses that I will not run personally but will invest in

And a small business I can run

If I reach this level, magiging masaya na ako.  So now, since wala pa akong nareach cyan, ban at banat muna ng buto at talino :-)

[nicola_juliano]

Peace of Mind. Walang inaalala sa mga bagay like: you didn't mind the price of the item you want to buy, the lifestyle you want, you can go anywhere you want, and etc.

[missyA]

Peace of Mind. Walang inaalala sa mga bagay like: you didn't mind the price of the item you want to buy, the lifestyle you want, you can go anywhere you want, and etc.

Agree!!!!

[ishopnowfeelguiltylater]

yung kahit hindi magtrabaho, mabubuhay ng kumportable

[oreo08]

Rich for me means

- no utang... all cars and houses fully paid... no cc... cash is king
- several properties and several investments
- not working AT ALL and just relying on passive income
- all kids are educated and sent to the best private schools from kindergarten to college (okay fine, pati na rin postgrad studies)

now that is the truly rich

[cussler]

For me, being rich is having a lot of money while wealthy is rich and more. Can you call a person rich if his living on a mansion, driving a million peso car, dining in a fine restaurant but has many debts?

I qoute, "Wealthy people are not just rich in the pocket, but in the mind as well. They are the innovators and world-changers who have a significant impact on the lives of a great amount of people."

I wanted to be wealthy than rich. 

[Annie M.]

For me, being rich is having a lot of money while wealthy is rich and more. Can you call a person rich if his living on a mansion, driving a million peso car, dining in a fine restaurant but has many debts?

Agree ako dito. Kahit malaki sweldo/earnings from business, kung ang laki din naman ng mortgage, credit card debt, monthly expenditures to sustain a certain lifestyle, parang paycheck-to-paycheck pa rin ang buhay.

Yung book na 'The Millionaire Next Door' really changed the way I define wealth. Yung 'Your Money or Your Life' din super galing na libro.

[belle_v2g]

The real rich people i know are the ones who doesn't find the need to flaunt what they have in life.

[pinklilac]

Rich/wealthy yung pamilya na kilala ko na nakatira sa exclusive subdivision sa Makati.
Hindi sila nag wu work (both husband and wife) dahil.may mga passive income sila.
Madalas sila mag abroad like Eurooe, US etc.
Hindi pala suot ng alahas. Si Sir ever since relo lang nakita ko na suot.
Si Mam naman hindi ko maalala kung hikaw lang.
Hindi mo.mabasa ano tatak ng damit
Every year nagpapa  Christmas party sa mga batang may sakit.
Nagpapa summer outing.
Nag bibigay ng scholarship.
Higit sa lahat walang ere sa katawan at napaka sisimple tingnan.

[im fine!]

The real rich people i know are the ones who doesn't find the need to flaunt what they have in life.

true!

[luckypal]

Being healthy and happy, and having the freedom to choose to do what you want to do every single day of your life. Also, living in a place where you don't have to worry much about security, pollution and crime.

That is true wealth for me