MONEY matters

Mark Zaifman's thoughts on money, global economic trends and politics

How Much Money Does it Take to Make You Feel Rich?

Mark Zaifman   |    Thu, Jan 05, 2012 @ 12:32 PM
the rich index

How much money does it really take before we consider ourselves to be rich?  Based on net worth and income, this infographic by Mint.com, which is based on a recent Gallup poll reveals just what we Americans believe the 'rich index' is.

Some of the answers regarding income are really interesting:

How much money would you have to earn annually to consider yourself rich?

A - $150,000 (all Americans)

A - $150,000 (men)

A - $100,000 (women)

A - $200,000 (college graduate)

A - $100,000 (college non-graduate)

See full infographic here

This whole survey gets me thinking about the 'enough' factor, our relationship with money and the bigger question of what being rich really means.

Unless you’ve taken the time to honestly contemplate how much is ‘enough’, you’ll be buffeted by forces that have one aim in mind; keeping you striving but never arriving.

There is nothing wrong with working hard, playing by the rules and winding up ‘rich’. But if your desire is to feel financial freedom sooner rather than later, than the sooner you decide on your ‘number’, your number in this context being the amount of money you wish to accumulate by the time you retire, the sooner you’ll arrive at your destination.

And remember, being rich is a state of mind. I come in contact with potential clients all the time that have accumulated millions of dollars. And at the same time I meet potential clients that haven’t accumulated anything close to that amount. And it’s often the case that the people I meet with a lot less feel much ‘richer’, so to speak, than the person with the large bank account.

reach financial freedom

Infographic by Mint.com