How Rich is "Rich"? - article

[dude]

A quite different view than the one generally taken by folks here in the MMM forums:

https://www.bloomberg.com/news/articles/2018-05-23/bankers-don-t-think-you-re-rich-unless-you-have-25-million

[PNW Lady]

Why did I click?!?! I can't get that 30 seconds of my life back. The article (first few paragraphs, anyway) is gross.

[mak1277]

Wealth managers like to frame the type of client they target in terms of the services needed. For example, a married couple with an estate valued well below $22 million, held largely in a diversified portfolio of publicly traded stocks, may not need a lot of fancy trusts-and-estates work, since about $22 million can go to heirs without worrying about estate and gift taxes.

I think it makes (some) sense in this context.

[scottish]

Like the opposite of the millionaire next door!

[dougules]

"Rich" is a completely subjective term.  I think most people in the developed world with a professional job are rich, but it's a word that can mean what you want it to mean.