Here’s an interesting question. How much money does it take to be rich? What would you say?
Of course, you may argue, there’s more to being rich than having money—there’s love, health, freedom, etc. All true. But for the purpose of research, let’s stick with a specific figure. How much money do you think you need to feel rich?
Despite a myriad of studies, no one can agree on a single number. The responses range from a mere $1.4 million to a whopping $100 million…and everything in between.
One thing that struck me. The amount is always more than the respondent had. As one researcher put it, “People always give a number that is twice their current net worth or income. Those with $100,000 in income say $200,000, while those worth $5 million say $10 million.”
This got me thinking. There’s no universal number because ‘rich’ is an attitude, not an amount. When you can say “I have enough to live my life on my own terms,” you can, indeed, call yourself rich.