There is no math for "rich". It's a relative term. You have to define it for your own.
Yup.
I grew up in a lower middle class (at best) working class family.
When my net worth hit $10k, I thought "That's a shit ton of money!"
When I hit $100k, I thought "Damn, I can spend on whatever I want."
When I hit $500k, I thought "I could not work for 10 years and not have to worry, this is great"
When I hit $1 million, I thought "Holy crap, I never thought I'd be anywhere near that amount." I can stop scrounging and start giving serious money to charity.
When I hit $3 million, I started to think "Wow, this is insane. We never thought we'd have this much."
But you know what? Even though our net worth is somewhere between 3.5 and 4 million, we still don't feel rich. We know we can retire (but haven't- I'm working a low stress, but still "full time" job, but the wife is still working long hours, though I've told her she doesn't have to).
If you'd asked me when I was 25 if 3.5+ million was rich, I would have said "of course (envisioning yachts and lifestyles of the rich and famous).
At $3.5 million+, we don't have "job loss stress," we give a lot more to charity, we can give to anything we think is important. I'm up late (basically all night) playing "nurse" to three rescue dogs for which we just paid $2K+ to have veterinary attention.
But honestly, we don't feel "rich." We still live middle class lives.
And I'm guessing that to the elitists of the world, like the Clinton's and Trump's of the world, we look poor.
