Are You Rich? How Rich Is Rich?

How wealthy does a person need to be to be considered financially independent? 

There is no specific answer to the question, "How rich are you?"

There may be disagreements between two people who may be in the same financial position in life. We can expect a more pronounced difference in reaction between two people who are not in the same financial position. 

Some answers may sound like this: 

* Those who have a net worth of at least $ 1 million are wealthy.

* A person who is completely debt-free is wealthy.

* People who can live the lifestyle of their choice are wealthy.

* When you have a home and a thriving business, one is wealthy, can afford to travel every year, and can buy most of the luxuries of life.

* Those who can afford to donate to charity are wealthy. 

In fact, there is no line to classify a person's financial position as rich or not. Wealth is in the eyes of the beholder. For some people (not necessarily those with financial wealth), health is wealth, even if their pockets are not.

Yet others may consider spiritual wealth to be their number-one priority.

Even if you are rich, you do not have enough wealth. Because of this, we still see very wealthy people who are constantly growing their wealth. Economically, if income exceeds costs (including reasonable luxury goods and assets that exceed inflation), they can be considered economically independent.

Financial income does not retire with age. 

This is why you need to make money for yourself. That brings us back to the importance of financial literacy, which is why financial literacy is superior to money itself.

As long as your financial spirit is working, you will never have a hole in your pocket.

All true wealth is in your mind.