Americans Say They Need $2.2 Million to Be Considered Wealthy

I guess 'wealthy' is subjective. When I use the term, its to describe people who could afford live comfortably and modern without ever working again. But 'comfortably' and 'modern' are no less subjective. I guess in the context of this thread, 2.2M = 'wealthy'. I believe I could achieve my version of 'wealthy' with far less money than most people.

 

Yes, everything is subjective, if adjusted to cost of living then wealth can be achieved even with 1.5 millions.
E.g. you can find places in Europe with much better quality of life and lower cost of living.

 

Maybe consider 'wealthy' different from 'having enough to get by'.

Yes, there are places in Europe, which I have also looked into, and Portugal seems attractive in many ways. Health insurance, which is a major obstacle to retire early in US, costs only $40-$100 in Portugal, and the quality of their health care ranks pretty high.

 

$3 million including the value of a paid off house seems about right as that would mean no house payment on a nice large house plus around an income of around $100,000 just on investments even in below average years. That still won't be a lifestyle of the rich and famous but it would be enough someone could retire on if they wanted.

 

I think comfortably means "while enjoying decent food, shelter, clothing, medical care, entertainment and transportation on a regular basis."

This isn't hard for most. Entertainment is free or it can be, if you're easily amused (a deck of cards and a couple of neighbors, or a checkerboard and a transitor radio), food is plentiful and cheap if you stick to tortillas, beans, tomatoes, and onions. Nothing wrong with that. Clothing is practically free if you shop at thrift stores and cheap if you do Walmart. There's public transportation. I reckon shelter is expensive, but again, you don't have to live in a 3000 square foot house. Medical care is tough for some, but it's largely available for free if you cooperate and take minimal care of yourself.

 

Thats more what I meant by 'modern.' 'Comfortable' would be more like, content I guess.

 

I was born wealthy and will die wealthy … but I would give it all away if I could get my health back … I’m only 62 and I might have a year left … but that’s life and death … anyone wanna buy a Porsche? …

 

Well, at least you're not wealthy and stuck on a malfunctioning submersible with four other people and about 40 hours of oxygen left.

 

I would laugh but I am going to die in the same manner … suffocation … I produce red blood cells that don’t carry oxygen…

 

I am sorry to hear that. There are so many illnesses that I for one want to see cured already. It's always so sad when people go before their time due to cancer or whatever it is you have. I imagine treating what you have would require gene editing so that the body would produce normal blood cells.