Originally Posted by persian54
I think to truly be "rich" you shouldn't need to rely on "income" form a 'job' at all
To be, to be "rich' means to be financially secure and established to a point where even if you didn't work another day in your life, you could still maintain a similar lifestyle.
This can really only be achieved through residual income, be it from real estate, dividends, businesses, etc.
Or you just won the lottery
This is just my personal opinion, doesn't have to fit your opinion/idea
Ever hear the term "idle rich". This is what you are referring to. There is also the "working rich" which is probably the category that most M3 owners belong to. Sure there is money, but we have to keep working to sustain the lifestyle.
The problem is that you can't really lump the "top 1%" together. Here's why:
This is a factor of 17.5 over 79 percent of the population. The top 1%, however spans over a factor of 1000, if you take $350,000 as the bottom and $350,000,000 as the top (which is still a very conservative top number)
The top of the top 1% is in a far, far, far different place than the bottom of the top 1%.