UnThreaded | Threaded | Whole Thread (23) | Ignore Thread Prev | Next
Author: SRenaeP Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 308232  
Subject: Re: Income: How much is high? Date: 7/20/2006 2:43 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
"High income" means enough money to pay all of the bills (and other necessities) on time, have debt going down and savings going up, and have enough left over to make choices.

I guess I'm confused but I don't think high income has anything to do with this - you can have a high income (as someone notes above) and still be completely spendthrift. I wouldn't say someone who makes $300K isn't high income - even if they blow all their money and have debt. I would say they aren't wealthy - there's a difference between income and wealth.

The first is how much money you have coming in. The second is net worth and how you use what you have. I would say being wealthy meets the definition in the header. But high income?...nahhhhh.


I guess everyone will have a different definition. I fulfill the definition at the top but I don't feel that I'm high income and certainly not wealthy. I do acknowledge that there are some people who WOULD consider me high income but I don't think anyone would mistake me for wealthy. My defintion of wealthy means a really high net work (maybe $1M in investable assets or something).

-Steph
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (23) | Ignore Thread Prev | Next

Announcements

TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
2013 Feste Award Voting Begins!
Who will win the 2013 Feste Award? Vote now for the Fool that most exemplifies the Fool Community mission of Learning Together!
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Tax Strategies

TMFPMarti-Feeling Good
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement