Quote:
Originally Posted by Sliver
I disagree. You're doing well making $200k, but if you live within your means, are raising a family, socking away for retirement, maxing out RESPs, etc., then you have more in common with the guy making $60k per year than the guy with $10 mil in the bank.
You're far from the point of having your money earn an income of its own making $200k. You have to get up every day and go to work still. You have to budget. You have to plan for retirement. You can't spend willy-nilly if you want to be growing your net worth.
There are lots of guys that make that kind of money and certainly many in Calgary that look rich in that every second car is a BMW or Audi these days and the houses are beautiful. But if you're spending everything you make without actually growing your net worth, then you could hardly be called rich.
You're mistaking a high income with being rich. It's your net worth that should define whether or not you're rich.
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You can try to play it any way you want, but if you make more money yearly than 97.2% of the taxable population, you are rich, even if you don't "feel" like it.