Wednesday, October 24, 2012

“Rich” – Hard to Define But Always Interesting

You become "rich" when you have enough money. But how many dollars are enough?

A couple of million, carefully invested, might generate something like the median family income. But a median income won't allow you to live rich.

Ten million is sometimes termed "entry-level rich." All but the most exclusive trust companies or multifamily offices will let you in the door.

Thirty million, the threshold of Ultra High Net Worth, is probably about the level where you can start to live rich. Still, much depends on whether you're living it up in your Midwest hometown or a town house near Central Park.

The ambiguity of "rich" helps explain its popular appeal. If this blog wants to attract more readers, for example, we should use "rich" in the headlines of our posts. See Deborah Jacobs:

Superman Quits Day Job To Become Blogger; Three Things He (And Other New Bloggers) Need To Know

OK, we used "rich" in a headline. According to Jacobs, we'd be smart to use "Apple" next.

What do you think? Is Apple's new iPad Mini overpriced at $329?

1 comment:

Kingship Capital said...

Great post, you raise an interesting point that I think not enough people think about.