The definition of rich

Discussion in 'Investor Psychology & Mindset' started by JacM, 12th May, 2016.

Join Australia's most dynamic and respected property investment community
Page 1 of 2
  1. JacM

    JacM VIC Buyer's Agent - Melbourne, Geelong, Ballarat Business Member

    Joined:
    12th Jul, 2015
    Posts:
    2,219
    Location:
    Melbourne, Australia
    Saw this today and thought it is quite relevant to our investing world.

    rich.jpg
     
    JacM, 12th May, 2016
    #1
    larrylarry, Hedgy, Hanison and 10 others like this.
  2. Barny

    Barny Well-Known Member

    Joined:
    16th Oct, 2015
    Posts:
    3,191
    Location:
    Australia
    Can't say I've ever invested in buckets. But she's cute
     
    Barny, 12th May, 2016
    #2
    Wall Street, JacM and Xenia like this.
  3. datto

    datto Well-Known Member

    Joined:
    23rd Jun, 2015
    Posts:
    6,675
    Location:
    Mt Druuiitt
    If you got a roof over your head, clothes on your back and food the table then that is rich.

    Any more than that is a bit rich. Some may consider it greedy.
     
    datto, 12th May, 2016
    #3
    larrylarry, Hanison, Perthguy and 2 others like this.
  4. Xenia

    Xenia Well-Known Member

    Joined:
    16th Oct, 2015
    Posts:
    3,863
    At that age, you would not care anyway :)

    wealth is what you have left even after you have lost all your money.
     
    Xenia, 12th May, 2016
    #4
    Excalibur1, kierank, bobbyj and 3 others like this.
  5. Scott No Mates

    Scott No Mates Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    27,225
    Location:
    Sydney or NSW or Australia
    Provided that the next photo isn't:

    [​IMG]
     
    Scott No Mates, 12th May, 2016
    #5
    WattleIdo likes this.
  6. boeman

    boeman Well-Known Member

    Joined:
    30th Mar, 2016
    Posts:
    321
    Location:
    Perth
    I'll consider myself rich once I paypass items on my card and don't get nervous while it processes.
     
    boeman, 12th May, 2016
    #6
    Heinz57, Bayview and JacM like this.
  7. EN710

    EN710 Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    3,218
    Location:
    Melburn
    Somehow this question reminds me of china from SS...
     
    EN710, 12th May, 2016
    #7
  8. MTR

    MTR Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    27,853
    Location:
    My World
     
    MTR, 12th May, 2016
    #8
    Xenia likes this.
  9. See Change

    See Change Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    5,147
    Location:
    Sydney
    She's got it by the bucket load ...

    Cliff
     
    See Change, 12th May, 2016
    #9
    Xenia likes this.
  10. Azazel

    Azazel Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    8,091
    Location:
    Brisbane
    *Do not leave babies unattended in buckets.
    They can drown.
     
    Azazel, 12th May, 2016
    #10
  11. joel

    joel Well-Known Member

    Joined:
    22nd Jun, 2015
    Posts:
    876
    Location:
    Adelaide
    Try tapping and walking away without waiting to see it say "Approved" ;)
     
    joel, 12th May, 2016
    #11
    Sackie and bob shovel like this.
  12. Blueskies

    Blueskies Well-Known Member

    Joined:
    24th Aug, 2015
    Posts:
    1,769
    Location:
    Brisbane
    Sure, I guess I would be content and happy owning the rolling country acreage in the background!
     
    Blueskies, 12th May, 2016
    #12
  13. DaveM

    DaveM Well-Known Member

    Joined:
    14th Jun, 2015
    Posts:
    3,761
    Location:
    Adelaide & Sydney
    So thats where babies come from...
     
    DaveM, 12th May, 2016
    #13
    Wall Street likes this.
  14. Scott No Mates

    Scott No Mates Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    27,225
    Location:
    Sydney or NSW or Australia
    Yup, usually aisle 2 at Coles or aisle 4 in Woolies (near the baby wipes).

    This one is from the organics range.
     
    Scott No Mates, 12th May, 2016
    #14
    kierank and Bayview like this.
  15. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

    Joined:
    18th Jun, 2015
    Posts:
    3,979
    Location:
    Canberra, Brisbane and Sunshine Coast
    So there's a 50% markup
     
    Jamie Moore, 13th May, 2016
    #15
    Bayview likes this.
  16. EN710

    EN710 Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    3,218
    Location:
    Melburn
    Trying to remember what is in aisle 2 in my coles.... cereals?
     
    EN710, 13th May, 2016
    #16
    Xenia likes this.
  17. bobbyj

    bobbyj Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    350
    Location:
    Sydney
    This is such a good philosophical question that most of us redefine again and again as we go through life with changing goals and dreams.

    I think it's closely linked with happiness and most of the posts here seem to reflect on that.

    Being rich is about feeling content and grateful for everything you have.
    Whilst it's all relative, there are some simple things like health, good relationships, food and shelter, lifestyle. I don't think a dollar amount in the bank/offset/net worth will really make you 'feel' rich.
    Numbers are infinite and we've all tasted greed and hunger for more wealth (not that it's a bad thing). You can simply never have enough. I certainly don't feel rich when I add up my net worth and think to myself 'gosh it's so much work building up monetary wealth'.

    To answer the question though in context of Australian society: rich would be to have your own home, own your own decent car, go on overseas holidays, never worry about bills, have enough time to look after your relationships and health, and always have enough buffer to buy whatever you need.

    Anything extra is simply to keep up with or one up the Joneses.
     
    bobbyj, 13th May, 2016
    #17
    MTR likes this.
  18. alexm

    alexm Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    492
    Location:
    Sydney
    Definition of rich is very subjective isn't it?

    From a monetary sense, I think anyone with a net worth over $10m would be rich but this is my opinion.
     
    alexm, 13th May, 2016
    #18
    MTR likes this.
  19. MTR

    MTR Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    27,853
    Location:
    My World
    Just throwing another question out there.... Does rich mean you are successful??
     
    MTR, 13th May, 2016
    #19
    Xenia likes this.
  20. Perthguy

    Perthguy Well-Known Member

    Joined:
    22nd Jun, 2015
    Posts:
    11,767
    Location:
    Perth
    Perthguy, 13th May, 2016
    #20
Page 1 of 2