How much money yearly do you have to make to be wealthy?

Answer 1

The definition of wealthy is different for each person, living in any country so it is impossible to define an income.

new Answer:

Technically most doctors on the USA aren't as wealthy as you may think. To be in the top %1 of American for example you need to make at least $400,000 a year. Which is around 8 million dollars in 20 years. But, wealthy usually means how much time can you live without changing your habits without working a single day. Pretty much if you spend %80 of what you make you are not considered wealthy. You are rich... which is a lot different than wealth.

If you make $120,000 a year and only use 20 thousand a year then you may be wealthy and of course if soemone makes the same but uses $100,000 of that money they are living extremely well, living high life but if they stopped working today how much time can they hang without making a penny with their savings? a year or two? then all your rich lives becomes nothing so your are not wealthy.

I read a book that said that most wealthy people can live the same life without working for 15 years or more easily without affecting their way of life. Again if you are 25 yr/old and make 120k a year you wont have much welth because you probably started making that money not long ago. But, if that person is 45 then they have plenty save up.

So, it doesnt matter if you make a million or 100 million to be considered wealthy you much be using much less thatn what you make, saving for a rainy day.

that is why there are the ultra rich like celebrities that made in their life 300 million dollars and now are bankrupt. yes, they were rich but not wealthy.

can't explain it better.