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Subject:  Re: What $$ = Rich or Wealthy?? Date:  8/13/2001  12:44 PM
Author:  gurdison Number:  7261 of 20599

<I remember seeing it said somewhere in a rundown of government figures during some debate regarding taxes/IRS that anyone earning more than $75,000 per year was considered "rich.">

This is one of those questions for which there is no hard, firm answer. There are many people who make considerably more than 75k per year, yet continuously live on the edge of financial disaster. I think to get closer to the truth, you need to consider the old saying that "it's not what you make, but what you do with what you make". By no means does high income = wealth.

There are many individuals who never have made anything close to 75k in salary and yet have become financially independent. Those people automatically save something from their salaries. They also are very aware of the expense side of the ledger. They avoid CC debt and make a clear distinction between wants and needs. You can find a lot of them residing over on the Retire Early Home Page.

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