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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 311070  
Subject: Re: Income: How much is high? Date: 7/20/2006 2:43 PM
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"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).

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