Saturday, September 24, 2011

Who is rich?

Previous studies have shown that when people are asked how much it takes to be rich, they always give a number that’s twice their current net worth or income. Those with $100,000 in incomes say $200,000, while those worth $5 million say $10 million.

From Robert Frank in the WSJ.

That helps explain why I always thought having an income of $100,000 made you rich.

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