I believe wealth is defined in many ways. In some cases the amount of money that classified someone as wealthy might not classify another. For instance, Mr A might have $500,000 and be classified as rich by some people also Mr B might also have $350000 and be classified as wealthy by another set people or even by himself.
from my own personal analysis of being wealthy,I will say the level of the stability of your financial inflow from your asset is what I can measure to consider you wealthy not the amount of money you have at hand. What if expenses arises and 80% of the money that is seen as bogus blows off. I personally don't go with the saying that the amount of money you have could classify wealth,rather I will say it as the amount of money you have that could classify riches.
Wealth is an innovation,an idea used in generating income. It is the idea that keeps money flowing. It is very possible to be rich in few days but the possibility of being wealthy within same period is not in anyway certain. Why because there are lots of unreliable schemes that can make one rich but not wealthy.
Being wealthy is that status of an individual’s existing financial resources that enables one to live conveniently even if he does not physically work to generate a recurring income.
We all have different opinion to matters. some believe that being wealthy was about enjoying life’s experiences and being able to afford what they want. Some measure their wealth with their income and expenditures.
Which ever way we believe, I will stress according to the question that the amount of money that individual may have to classify him as wealthy is the level of his income producing asset that generates his passive income.
For me, being wealthy is relative to your lifestyle. I'll have to refer to Robert Kiyosaki's definition of financial freedom to come up with a criteria to be considered wealthy.
First is financial freedom - if your passive income (e.g., cashflow that come from sources and that do not require your active participation and time like dividends from stocks) exceeds your expenses, then you're financially free.
Being wealthy for me is something beyond that - once your basic needs are covered and you have excess cash - you are able to do better things like give back to charity.
For example, me and my family's monthly expenses is close to $1,400. If my passive income, let's say my earnings from my delegations or curations, exceed $1,400 a month, then I consider myself financially free. Earnings beyond that is wealth for me.
Depends on everyone's local cost of living and what the local people usually have or earn. In first world countries, having the equivalent of a million USD to your name is usually enough for you to be classified as wealthy. There are exceptions to that such as the anomalously high prices of real estate in places like Vancouver or Toronto, Canada, where normal houses can be worth millions of USD. Most places in Canada are much cheaper.
our objective as a person ought not be to simply heap up fortune interminably to the detriment of the items, administrations, and encounters you need for your life. Rather, it ought to be to discover what it is you need, how much month to month money you have to bear the cost of it, and after that we can take a shot at ascertaining the aggregate speculations that would be required to benefit that way of life.
Cash is a device that exists to serve you. It would be an exceptionally stupid thing to consume your time on earth slaving without end to collect assets that you will never appreciate if doing as such comes to the detriment of your own joy.
The key, as in such huge numbers of regions throughout everyday life, is to "know thyself". On the off chance that you are sufficiently blessed to be normal, when you were conceived, 27,375 days were stored into your mortal financial balance.
You've effectively spent many of them. At some point, the check will run out so you should ensure you get the most delight out of every one of those days you've been skilled through no excellence or value of your own. Experience life gathering resources, keeping away from liabilities; focus on resource arrangement; make sense of how to get paid to do what you adore.
For a few, that may live in a lodge in Colorado, angling and perusing throughout the day, chasing with your cherished pooch, and figuring out how to play an instrument.
For other people, it may mean costly autos, a closet of bespoke Ede and Ravenscroft with coordinating bespoke George Cleverley shoes, wearing Creed Bois du Portugal as you ponder your portfolio in your recently constructed custom Clive Christian investigation looking at your $250,000 Patek Phillipe Grand Complications watch with perfect precious stones.
There is no good and bad answer. One isn't superior to the next. They are only extraordinary; a matter of individual taste much the equivalent as some inclining toward hamburger and others leaning toward chicken.
Only if your net worth is comparable to @mrshev
A person who is wealthy, is someone who not only has abundance of money but also possessions.
That means someone that can afford to spend money without having to check his bank account.
Someone that lives a life of affluence is considered wealthy.
The one that is enough for his needs
I think one hundred million dollars