S/O If you’re considered wealthy what’s your income bracket?

amother

Sun, May 09 2021, 12:10 am

People posting that they are wealthy, so all wealthy imas post their income brackets.

Crookshanks

Sun, May 09 2021, 12:18 am

If I'd be my mother, I'd come here and post that my children are priceless, therefore we're wealthy.

allthingsblue

Sun, May 09 2021, 12:20 am

Yes crookshanks that is what I came here to post Smile

We've got a roof over our heads, a loving spouse, amazing children, cars, jobs, what more could we want? TYH

amother

Azure

Sun, May 09 2021, 12:40 am

Looking forward to this thread, great question OP.

To me This is like;

large family = 1 more than mine
Small family= 1 less than mine

Very frum = does more than me
Very modern = does less than me

Poor= less than my neighbors
Wealthy= more than my neighbors. LOL

Can't wait to see a huge discrepancies in answers. Someones rich is someone elses poor.
And someones poor is someone elses rich.

amother

Lawngreen

Sun, May 09 2021, 12:42 am

OP - I think you mean to ask 'if you consider yourself wealthy'...

amother

Maroon

Sun, May 09 2021, 2:25 am

I would say a million a year

amother

Powderblue

Sun, May 09 2021, 7:01 am

amother [ Maroon ] wrote:

I would say a million a year

You earn a million $ a year?

amother

Gold

Sun, May 09 2021, 7:25 am

We can pay our bills easily every month, no mortgage and have savings. I wouldn't say we're wealthy but we are extremely blessed and grateful to Hashem for the immense bracha he's bestowed upon us.

doodlesmom

Sun, May 09 2021, 8:41 am

amother [ Powderblue ] wrote:

You earn a million $ a year?

I’m sure there are a few amothers who have income of $1million a year or more.
It might not sound achievable to you, but it definitely happens.

amother

Sun, May 09 2021, 11:31 am

I guess I should start a thread instead asking is your income over 1 million a year?

amother

Royalblue

Sun, May 09 2021, 11:38 am

She is asking what means wealthy in the frum community. Not if you are feeling blessed and poor... I think wealthy and frum is at least half a million a year

amother

Sun, May 09 2021, 11:45 am

amother [ Royalblue ] wrote:

She is asking what means wealthy in the frum community. Not if you are feeling blessed and poor... I think wealthy and frum is at least half a million a year

Yes that is what I’m asking...

amother

Maroon

Sun, May 09 2021, 11:55 am

Depends where you live 500k in the five towns with a family of 5-6 kids is not wealthy. You have enough. Comfortable. But not wealthy.

amother

Wine

Sun, May 09 2021, 12:04 pm

amother [ Maroon ] wrote:

Depends where you live 500k in the five towns with a family of 5-6 kids is not wealthy. You have enough. Comfortable. But not wealthy.

How not?

500k before or after taxes?

Even if you pay full tuition you’re still left with $200k at least.

That’s plenty of money.

allthingsblue

Sun, May 09 2021, 12:06 pm

amother [ Wine ] wrote:

How not?

500k before or after taxes?

Even if you pay full tuition you’re still left with $200k at least.

That’s plenty of money.

I assume it means before taxes. And $200 k for that amount of kids... housing, food, clothing, camp, simchos... it gets eaten up

amother

Chocolate

Sun, May 09 2021, 12:07 pm

amother [ Wine ] wrote:

How not?

500k before or after taxes?

Even if you pay full tuition you’re still left with $200k at least.

That’s plenty of money.

This is where the gap is. $200k a year , or 16k a month does not make someone wealthy at all.

amother

Chocolate

Sun, May 09 2021, 12:10 pm

Most wealthy people don’t take out all their income from their business to live on. They reinvest etc.

If they have a big expense, like buying a house, then they will take out more then.

But the income we take home monthly would be around $40k and we are still not wealthy.

amother

Ivory

Sun, May 09 2021, 1:08 pm

I know I am old on imamother but doesn't anyone else remember Alexandra Lebenthal. "It's not what you earn, its what you keep."

I think savings per year is a better indicator of wealth than earnings per year.

amother

Ruby

Sun, May 09 2021, 1:59 pm

amother [ Ivory ] wrote:

This!!! We save about 50% of our income and don't make anything near a million. But we feel comfortable and can afford whatever we need and some of what we want.

doodlesmom

Sun, May 09 2021, 2:04 pm

amother [ Ruby ] wrote:

This!!! We save about 50% of our income and don't make anything near a million. But we feel comfortable and can afford whatever we need and some of what we want.

Good for you! Bh!
But re this thread, you aren’t wealthy.
Unless you’ve invested that 50% over many years and by now you have many assets.