Reply #25: That's a very good salary for one person

[ultraist]

Especially if you don't have children to support. You are able to save while living a comfortable lifestyle. But I don't consider that rich even though it's nearly double the median.

As someone noted, wealth is not the annual income one earns off of their labor. Wealth is about your net worth. What you have in assets.

Income off of labor can create wealth. The CEO making 29 Million a year can do it in one year. Most banks consider net worth over 2M the cut off for wealth management accounts.

The top 400 wealthiest people in the world are worth 600 Million or more. That means their offspring will be wealthy for several generations without having to work.