How Much Income Makes You Rich ..........?

[thehelmsman]

Now before the gunslingers pop out..........We all know some people are over the top rich but, for the people who work - whether you work in Thailand or other people with jobs offshore including Seaman that allows us to be in Thailand every 4 months what is the line between LOW INCOME - sorry about that teachers. No the line between

[thehelmsman]

My bad .......... The line between MIDDLE CLASS and lets say WELL OFF. I don't have any grudges against filthy rich - curious as to where I stand.

[NeverSure]

Well, do you want Thailand middle class or Western middle class?

If you have to work at a trade, you aren't rich by any standards. In the US, if you're single or married filing jointly, you hit the top tax bracket at $388.000 and above, if that says anything.

[toybits]

There is a Chinese saying that goes something like this..."It does not matter how much money you make each month. What matters is how much money you have left after each month."

[toybits]

Do not think you are rich just because you have money. There are other forms of rich. Money is only one of them.

[chiangmaikelly]

Rich is having enough money to live in Thailand full time. Poor is not.

[yourauntbob]

My definition of "Rich" would be someone who never needs to think before spending money. I am not talking about buying a coke, but taking a trip on short notice, buying a car, boat etc without even worring about the money before or after the purchase would be rich in my eyes.

[geriatrickid]

Do not think you are rich just because you have money. There are other forms of rich. Money is only one of them.

True there, is gold, platinum, fine art, real estate etc.

However, when people start waxing philosophical about their happiness and love etc. as a form of wealth., I know they are most likely not rich.

I can't wait for someone to say having good health makes them rich. To that I say, well if you have cancer does that make you poor? I think if one has cancer, its better to be wealthy than of modest means. At least they can afford better healthcare (e.g. full nursing & attendant care, and access to rare medicines).

[NeverSure]

My definition of "Rich" would be someone who never needs to think before spending money. I am not talking about buying a coke, but taking a trip on short notice, buying a car, boat etc without even worring about the money before or after the purchase would be rich in my eyes.

With all due respect, and I'm not rich, I can do that as long as I don't do it every day. I'm far from rich.

Rich is deciding to trade your $50 million dollar jet for a $150 million dollar jet and paying cash. Rich is having several multi million dollar homes/estates in exclusive spots around the world, all paid for. Rich is owning a $50 million dollar yacht and keeping a full time crew for that and another for your private jet.

I have yet to meet or hear of the expat in LOS who arrives in his private Boeing 757 like Paul Allen, co-founder of Microsoft would. Even then he'd have to match Paul Allen by owning the NBA team, the Portland Trailblazers and the NFL team, the Seattle Seahawks. Paul Allen is Bill Gates' poorer partner.

Edited November 13, 2012 by NeverSure

[simon43]

As Toybits commented, do not consider yourself rich just because you had money.

When I lived in the UK and worked as a rocket scientist, I was a GBP millionaire, (for a time until I got divorced!). I did not consider myself to be rich.

Now I work in Myanmar as a teacher, (although probably getting paid more than many teachers in Thailand and always have money spare at the end of each month). I consider myself 'rich' because of all the opportunities that are offered to me, and because of the genuine friendliness and generosity of those around me.

To measure richness only in terms of money is a very shallow [but common view] - IMHO.

Simon

[BigJohnnyBKK]

My response to (my interpretation of) the OP's request.

I would be very comfortable with level of support for my family and my personal lifestyle on B150,000 per month, and that's in Bangkok. Other areas of Thailand, particularly away from the tourist-oriented seaside resorts are much less expensive.

I can get by OK on B50K per month.

I can survive on half that, but we'd have to move to a small apartment, and then my kids and I would probably not have quite as jolly a relationship.

I hope that helps, and never mind the tossers going on about boats etc.

And I also believe money isn't that important relative to things like health, good relationships with friends and family, and being comfortable inside your own skin. But of course it can help achieve those higher-level goals if kept in perspective, it's always nice to enjoy the pleasures and comforts and to exercise the freedoms that money can provide. And especially true that having to make do on very little can make enjoying life a bit harder for some.

But I know lots and lots of very wealthy people, and my perception has always been that that factor has little bearing on true happiness, and in fact I've seen people destroy their lives by focusing on that at the exclusion of other more important aspects of this short and precious life we're given.

[Swiss1960]

Income has nothing to do with being rich... you can have a high income, but if you spend all, you'll never be rich...

Rich - for me personally - means to have enough money to enjoy doing all I want to do in the places I want to do it. Therefore "rich" as a $-figure is very personal IMHO.

$2M will be considered rich by most and not so rich by others and even poor by few...

[CharlieH]

Its a tough question , because it entirely depends on your standard of living, which can also be dependant on what you earn. Its an individual thing not a general one.

Example: if you like living simple have your own home and spend 500 baht a week to eat and earn 20,000 a month you have a high level of disposable income, does that then make you rich ?

conversely, you earn 100,000 a month pay 40k for your apartment, 20k for your car, eat in nice restaurants etc you have little or no disposable income.

Which brings it back full circle, to life style and standard of living, location etc.If you then go the other end of the scale, someone with millions obviously can do whatever and wherever he wants, but how long he can sustain it is another question.Too many variables.

I agree with Swiss1960 above.

Here's my definition:

A rich man is able to live where he wants, with who he wants, surrounds himself with what he wants and can do whatever he wants and can sustain it indefinitely, thats my definition of "rich" in the monetary posession aspect.

There is also this, A person who is loved despite money or personal posession, loved purely for who he or she is, is the richest of all.

Edited November 13, 2012 by CharlieH

[robblok]

Rich is having enough money to live in Thailand full time. Poor is not.

Tell that to the offshore workers, im pretty sure they have more then you or me or most.

[Shaktam]

Who really cares what class you are in, middle, rich or filthy rich.

If you feel rich you are rich, of you feel poor you are poor. You should only worry about how successful you have been in life to provide the life you are happy with, whatever that may be. Putting yourself in a class to build our ego seems childish.

Edited November 13, 2012 by Shaktam

[krisb]

400million AUS$ a year.

That makes you rich.

[krisb]

Rich is having enough money to live in Thailand full time. Poor is not.

Tell that to the offshore workers, im pretty sure they have more then you or me or most.

Im pretty sure they dont.

[chiangmaikelly]

Rich is having enough money to live in Thailand full time. Poor is not.

Tell that to the offshore workers, im pretty sure they have more then you or me or most.

You got the point. The OP was trying to get his jollies by bragging about his seaman status vs teachers or others. I only pointed out that wealth is not having to worry about some old rummy jumping on your lady because of an off shore posting.

Otherwise there is no point to the post. I mean really how many, "how much money do you have in Thailand" posts have been written in the General Forum in the past 6 months?

There is so much more to success or the good life than money and after the plethora of nitwit postings in this forum about look at me mom I'm rich, someone had to tell the guy just what rich really is.

[smokie36]

As Toybits commented, do not consider yourself rich just because you had money.

When I lived in the UK and worked as a rocket scientist, I was a GBP millionaire, (for a time until I got divorced!). I did not consider myself to be rich.

Now I work in Myanmar as a teacher, (although probably getting paid more than many teachers in Thailand and always have money spare at the end of each month). I consider myself 'rich' because of all the opportunities that are offered to me, and because of the genuine friendliness and generosity of those around me.

To measure richness only in terms of money is a very shallow [but common view] - IMHO.

Simon

Well....if Simon says it aint rocket science who are we to doubt him!

[mrtoad]

I guess it also depends on your monthly outgoings. I've known people who have excellent salaries, but have absolutely no surplus money, as it's all gone on their mortgage, c cards, etc, etc....

Other people who earn far less, may have significantly more disposable income. I think I can look back and say in terms of disposable income, that when I was single there was plenty more. It also meant that my lifestyle was probably pretty OTT to be fair. As I unfortunately get older (maybe saner) I am probably a bit more careful with the money, given the other outgoings like school fees, housing, insurance, savings plan etc I probably don't have the surplus to go and just spend it on the latest gimmick, or splurge it on a fancy shirt etc, but I still think I'm fairly comfortable with what I have and what I earn and I can still have nice holidays in Europe a couple of times a year. Am I rich - no. Am I happy - yes.

And of course there are those that are super wealthy, and you would never even know by just talking to them, and they would never even feel the need to say.

[mrtoad]

Rich is having enough money to live in Thailand full time. Poor is not.

Tell that to the offshore workers, im pretty sure they have more then you or me or most.

You got the point. The OP was trying to get his jollies by bragging about his seaman status vs teachers or others. I only pointed out that wealth is not having to worry about some old rummy jumping on your lady because of an off shore posting.

Otherwise there is no point to the post. I mean really how many, "how much money do you have in Thailand" posts have been written in the General Forum in the past 6 months?

There is so much more to success or the good life than money and after the plethora of nitwit postings in this forum about look at me mom I'm rich, someone had to tell the guy just what rich really is.

So many posts about money, even in the last few days. The interesting thing about teachers is, that on some occasion some of them are far richer than many of the so call high earners. I have known several over here teaching, that do it to a) pass the time to give something back. They've made their money already and have plenty of cash.

[CharlieH]

It was once said, "you know you are wealthy when you no longer have to make any decisions or choices based on your finances"

[TheSalayaKid]

If you measure whether you are rich by how much money you have, then you will never have enough. I prefer a different measurement of my richness. When you figure out how to take all that money with you into the next life, maybe I'll change my mind.

[yourauntbob]

My definition of "Rich" would be someone who never needs to think before spending money. I am not talking about buying a coke, but taking a trip on short notice, buying a car, boat etc without even worring about the money before or after the purchase would be rich in my eyes.

With all due respect, and I'm not rich, I can do that as long as I don't do it every day. I'm far from rich.

Rich is deciding to trade your $50 million dollar jet for a $150 million dollar jet and paying cash. Rich is having several multi million dollar homes/estates in exclusive spots around the world, all paid for. Rich is owning a $50 million dollar yacht and keeping a full time crew for that and another for your private jet.

I have yet to meet or hear of the expat in LOS who arrives in his private Boeing 757 like Paul Allen, co-founder of Microsoft would. Even then he'd have to match Paul Allen by owning the NBA team, the Portland Trailblazers and the NFL team, the Seattle Seahawks. Paul Allen is Bill Gates' poorer partner.

My bad .......... The line between MIDDLE CLASS and lets say WELL OFF. I don't have any grudges against filthy rich - curious as to where I stand.

I was going with the middle class to well off.

I dont think not having a private ject excludes you from being rich. Rich is subjective and realitive. I have a family memeber who makes north of 1 million USD a year and considers himself "middle class." Most people (including myself) consider him rich.

[robblok]

Rich is having enough money to live in Thailand full time. Poor is not.

Tell that to the offshore workers, im pretty sure they have more then you or me or most.

You got the point. The OP was trying to get his jollies by bragging about his seaman status vs teachers or others. I only pointed out that wealth is not having to worry about some old rummy jumping on your lady because of an off shore posting.

Otherwise there is no point to the post. I mean really how many, "how much money do you have in Thailand" posts have been written in the General Forum in the past 6 months?

There is so much more to success or the good life than money and after the plethora of nitwit postings in this forum about look at me mom I'm rich, someone had to tell the guy just what rich really is.

Fair point, actually i don't really care how rich others are. I make enough myself for what i want. I live here and enjoy my time. I actually work a bit too much currently but as i am the one taking on the jobs and reaping the gains i cant really complain because its a situation i created.

For me rich is being able to buy what you want, and save some money for a rainy day. Thing is the more money you have the more you spend. Some people making loads of money are still short at the end of the month.

[robblok]

@chiangmaikelly

The thing about other guys "taking care" of their g/fs when they are out of town is more common than you think. Personally i had one girl that called me when her guy was gone. But my friend down in Pattaya has has several of those girls, only later he finds out they already have guys (sponsors). He does not care as he has new girls all the time. But its seems quite normal for those girls to have a few guys on the side.

Not to derail the topic about money i will keep it at that. All i can say as long as your happy with how much you have you are truly rich. You can be filthy rich and still don't think its enough and not be happy.

[manarak]

It was once said, "you know you are wealthy when you no longer have to make any decisions or choices based on your finances"

this.

depends on everybody's lifestyle and aspirations.

In general, I'd say it today takes around 10 million USD to be rich.

[barefoot1988]

i would say 20million in assets, at least 5 million in liquidity. usd

[The Pundit]

As Toybits commented, do not consider yourself rich just because you had money.

When I lived in the UK and worked as a rocket scientist, I was a GBP millionaire, (for a time until I got divorced!). I did not consider myself to be rich.

Now I work in Myanmar as a teacher, (although probably getting paid more than many teachers in Thailand and always have money spare at the end of each month). I consider myself 'rich' because of all the opportunities that are offered to me, and because of the genuine friendliness and generosity of those around me.

To measure richness only in terms of money is a very shallow [but common view] - IMHO.

Simon

There's a saying in Spanish :

'Hay gente tan pobre que solo tiene dinero'...There are people so poor that all they have is money!

[Rancid]

Wealth is subjective, if you have ever really been struggling then a modest income feels rich. Then we have the Banker class, people who are already rich, that happily impoverish others so that they can have even more money they can never spend. Taksin was a billionaire and yet still dodged paying tax, for many wealthy people there is never such thing as enough.

For the rest of us, it really is about having enough without having to lie, kill, steal, and defraud to get it. Money in itself doesn't make happiness but it certainly removes one of the great stresses from life; relationships, health, family dramas etc are still there though.