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When would one start to be considered rich?

Amount of properties?
Amount of money in the bank?

What is the UK average wealth?

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If you have over one million in your bank account I would say you're rich
A few properties - owned by you, then I'd say you're rich. Having a net worth of over a million, rich. Amilli in the bank? Rich.
Having a job that pays 60k+ A year
Coming from a family of 4 that has an total income of £15K anything over that seems rich 😂
But yeah I would say anything over £60k also.



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Original post by bailfire
A few properties - owned by you, then I'd say you're rich. Having a net worth of over a million, rich. Amilli in the bank? Rich.


£1million is not rich nowadays. My parents have over a £million net worth but they still work (mid/late 40s). I would consider being rich at £10million net worth.
When they have a job. :emo:
Original post by hihihihihi
£1million is not rich nowadays. My parents have over a £million net worth but they still work (mid/late 40s). I would consider being rich at £10million net worth.


You being rich isn't determined by whether someone works or not right? Its just being above a certain threshold compared to everyone else. Being worth in excess of a million pounds is definitely rich. Not rich enough to stop working but its still rich. There are billionaires out there in the world that still work.
Reply 8
Original post by driftawaay
If you have over one million in your bank account I would say you're rich



What if people have that million diversified into properties, assets, objects of investment (e.g. prestige watches (e.g. Patek Phillipe), wine)?
Probably 1-2 million in assets.
Probably a net worth of 5MM+ with at least 1MM being liquid.
Original post by Tom.x.Gotze
What if people have that million diversified into properties, assets, objects of investment (e.g. prestige watches (e.g. Patek Phillipe), wine)?

That's better than having just money lying in the bank.
Original post by Tom.x.Gotze
What if people have that million diversified into properties, assets, objects of investment (e.g. prestige watches (e.g. Patek Phillipe), wine)?


Not liquid enough. I have many friends from old money backgrounds who have net worths in the tens of millions, yet live like paupers as their money is in property, not cash.
Original post by bailfire
You being rich isn't determined by whether someone works or not right? Its just being above a certain threshold compared to everyone else. Being worth in excess of a million pounds is definitely rich. Not rich enough to stop working but its still rich. There are billionaires out there in the world that still work.


You are right about that. The more money you have, the more you want to make.
I will feel rich when I go to the Ferrari/Lambo dealer and order a car.
(edited 8 years ago)
Original post by hihihihihi
You are right about that. I will feel rich when I go to the Ferrari/Lambo dealer and order a car.


/Agree to that
Original post by hihihihihi
£1million is not rich nowadays. My parents have over a £million net worth but they still work (mid/late 40s). I would consider being rich at £10million net worth.


who are you?
I would call myself wealthy if I was earning over £80K per year and was also the owner of a business. My plan is to move along those kind of lines. I hope that later in life I may set up a business(my dream is a restaurant) with multiple locations. I think I have a good chance of getting there.
Original post by scrawlx101
who are you?


What do you mean?
Some people are so poor. All they have is money.
(edited 8 years ago)
Original post by ibzombie96
Not liquid enough. I have many friends from old money backgrounds who have net worths in the tens of millions, yet live like paupers as their money is in property, not cash.


Yeah, same. Best mate from uni is from such a background (i.e. net worth very high not just in one or two million), he is yet to inherit his properties however.

His family also live like paupers but I think that is just a mentality thing. They provide their kids with the best education possible (i.e. Eton) but they are penny savers. Top lad tbh, they have their heads switched on about living a simple life.

Depends what one wants from life really.

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