Minimum income to be considered "Rich" in TX (Houston: mortgage, house)

[walker1962]

https://www.chron.com/life/article/T...h-16669490.php

[Need4Camaro]

I personally don’t consider any of those incomes to be rich, as much as I consider them to be high incomes. Rich isn’t about income at all. Rich is about reserve finances / money in the bank… net-wealth if you will and I personally am pretty close to the $200k mark between two jobs and by no means do I feel rich.

[rabbit33]

So all they're doing is looking at top 20% income and defining that as ”rich”.

Ohhh Kayyy.

No consideration of net worth.

Ohhh Kayyy.

In other words, more stupid click-bait.

Well, there's 45 seconds of my life I'll never get back.

[EDS_]

Originally Posted by Need4Camaro

I personally don’t consider any of those incomes to be rich, as much as I consider them to be high incomes. Rich isn’t about income at all. Rich is about reserve finances / money in the bank… net-wealth if you will and I personally am pretty close to the $200k mark between two jobs and by no means do I feel rich.

This.

[TX Rover]

Originally Posted by rabbit33

So all they're doing is looking at top 20% income and defining that as ”rich”.

Ohhh Kayyy.

No consideration of net worth.

Ohhh Kayyy.

In other words, more stupid click-bait.

Well, there's 45 seconds of my life I'll never get back.

No doubt. The “rich” people I know have never worked in their lives.

[Need4Camaro]

Originally Posted by TX Rover

No doubt. The “rich” people I know have never worked in their lives.

Probably truth in this, but let’s be realistic, if any of us were given an opportunity to leave the office and have millions upon millions plowing into our bank accounts would any of us turn that down?

[Dopo]

Houston minimum to be rich is $115,000
I get $9583/month

Let's say they spend 30% on their house, after paying 20% in tax.
That means they are paying $2300 in mortgage.


I plug it into my calculator where I calculated my mortgage ... and I get that they would be buying a $300,000 house
Could be a nice house ... Rich? I don't think so

[EDS_]

Originally Posted by TX Rover

No doubt. The “rich” people I know have never worked in their lives.

Not the ones I know well or a little.

[Need4Camaro]

Originally Posted by EDS_

Not the ones I know well or a little.

To be fair, there does exist a large bias of misjudgement that rich = entitled mentality - when the two definitions are actually very different...

Definition of Rich:

adjective, rich·er, rich·est.
having wealth or great possessions; abundantly supplied with resources, means, or funds; wealthy:
a rich man;
a rich nation.
abounding in natural resources:
a rich territory.
having wealth or valuable resources (usually followed by in):
a country rich in traditions.
abounding (usually followed by in or with):
a countryside rich in beauty;
a design rich with colors.
of great value or worth; valuable:
a rich collection of antique vases.

noun Usually the rich .(used with a plural verb)
rich persons collectively:
new tax shelters for the rich.

Definition of Entitlement Mentality:

What does it mean when someone is entitlement?
The entitlement mentality is defined as a sense of deservingness or being owed a favor when little or nothing has been done to deserve special treatment. It's the “you owe me” attitude. Entitlement is a narcissistic personality trait.

What really irritates me about this, is that entitlement is not specifically tied to one group of people (I.E. those who are wealthy) - Entitlement can occur at any income class as it is contingent upon a person acting as if something is owed to them when it is not rightfully or lawfully owed to that person.

A rich person for example, defending his lawful rights, does not equate to entitlement - where as a poor person who has not made aquedate planning to obtain his personal desires whether it be financial, housing, vehicular, status, ect and believes it is owed to him yet does not qualify for it, is actually just as mentally entitled as the rich man they often accuse, just without the financial buffering. A rich person who has worked hard (maybe not even physically, but planning wise) to obtain their dream home or dream career who did not willfully cheat others out of their finances or wealth, who would become upset if an unfair law was imposed upon them after they have legitimately worked hard, does not equal entitled only because they have more money in the bank.. ..their wealth is a symbol of their drive and determination to reach the top and today in America many people are unrightfully accusing people who have made right choices to reach their dream goals / dream career assuming that these people in some way owe the rest of the country something, when in truth they really do not.

[EDS_]

Originally Posted by Need4Camaro

To be fair, there does exist a large bias of misjudgement that rich = entitled mentality - when the two definitions are actually very different...

Definition of Rich:



Definition of Entitlement Mentality:



What really irritates me about this, is that entitlement is not specifically tied to one group of people (I.E. those who are wealthy) - Entitlement can occur at any income class as it is contingent upon a person acting as if something is owed to them when it is not rightfully or lawfully owed to that person.

A rich person for example, defending his lawful rights, does not equate to entitlement - where as a poor person who has not made aquedate planning to obtain his personal desires whether it be financial, housing, vehicular, status, ect and believes it is owed to him yet does not qualify for it, is actually just as mentally entitled as the rich man they often accuse, just without the financial buffering. A rich person who has worked hard (maybe not even physically, but planning wise) to obtain their dream home or dream career who did not willfully cheat others out of their finances or wealth, who would become upset if an unfair law was imposed upon them after they have legitimately worked hard, does not equal entitled only because they have more money in the bank.. ..their wealth is a symbol of their drive and determination to reach the top and today in America many people are unrightfully accusing people who have made right choices to reach their dream goals / dream career assuming that these people in some way owe the rest of the country something, when in truth they really do not.

Sorry, maybe I misunderstood the other posters.

This is what TX Rover wrote:

"No doubt. The “rich” people I know have never worked in their lives."

_______

Due to a combination of oddball factors I know, or knew some are dead, a number of rich and very rich self made people.

If I'm missing the other poster's point someone help me understand it.