Is my friend rich?

Question

Her annual income is $200k?

Answer 1

Depends on if she is a spender or a saver,

if she spends all she makes   then no she is not rich  just a high wage earner/spender.  If she loses her good job   she will be in debt fast. If she is a saver and good with money she may be comfortable. If she lives in California  she is not rich  at all.Being rich is a funny thing  ask 10 people how much rich is and they will all tell you a different amount.

Answer 2

But what is her debt? monthly bills?

Answer 3

i have friends (couple) who earn well in excess of $850k combined a year, before bonuses....... but they live the lifestyle, have the cars and the holiday bills could buy houses..... They may be rich on paper..... but not in life IMO.

I earn approx $120k - my wife doesnt work as she looks after the baby. We have a nice house, nice cars, decent holidays etc - but it is all average.... our personal life is fantastic..... we love holidays and spending time together - but our friends always moan about the service/hotels on holiday and are obsessed my money.

Not many people are rich in life as well as rich with money.

Be happy - THAT, you can't buy with money (but im sure it would help)

Answer 4

Is that Zimbabwean dollars?  ;-) Let's assume it's US dollars.

Here's something you should know: it's not your income that matters, it's the amount you have put aside for the future. For example if your friend earns $200k but has nothing in the bank, if she loses her job she will be in big trouble.

If on the other hand she saves most of her income, and has maybe a million in investments, she's probably not badly off. Being a dollar millionaire isn't really being rich these days.

Answer 5

I would say she has the potential to be very rich, providing she doesn't spend all her money. If you saved half of that, you would become very rich, quite quickly.

Answer 6

What is her career?

What about her debt? Bills? Payments?

Answer 7

NO BUT HER WAGES CLASSIFY HER IN THE UPPER MIDDLE CLASS RANGE.

SO BASICALLY SHE CAN AFFORD TO LIVE WELL.

Answer 8

sounds all good to me!!! but I'd wanna see the wage slips first.... too many bulls****ers out there!!!

if true!!! fair game!!! rock hard, rock heavy, rock...... your..... mum!!!!

Answer 9

that is a good wage.

Answer 10

That is five times the "modal" salary (the amount the largest number of people earn) in the US, but whether she is "rich" has more to do with the difference between what she earns & what she spends than it does with specific numbers; if she earns $200K and lives frugally, she is likely VERY rich....if she lives a $200,001/year lifestyle, she is poor and getting poorer every day!

Answer 11

Nice salary but not necessarily rich. Depends on how many assets and liabilities she has. Also where she lives. What her expenses are. And from whose viewpoint you look at it from. Poor people in Africa who bust their rumps every day to live under a tent with a dirt floor and have hardly anything to eat think that EVERYBODY in the USA is rich. I make over $200,000 a year and don't consider myself to be rich. I live well within my means, by looking at me you would never thing I make that much, but I save a ton of money and have paid off my mortgage. Does that make me rich? I dunno.