Definition of rich

Trading Discussion
21

I second that

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22

I define being rich as not having to worry where you’ll get the money to pay for everything you need for the next weeks and months. I don’t think only millionaires and billionaires are rich.

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23

“Rich” just means an abundance. You can have an abundance of anything: family, money, and health.

Generally, when people say “rich” or “wealthy” it is in reference to money. I agree that hugs don’t put a roof over your head, and the electric company doesn’t accept “I love you” as payment.

But there are different metrics for wealth. You can be Dan Peña who is financially rich, but his kids have to schedule an appointment to talk with him. He´s rich in money, but poor in family.

Would I still trade places with him? Sure. But after have financial wealth, I would like to have a family to share that with.

I would also like to have the energy to enjoy it.

When you’re young, you have: time, energy, but no money.

When you’re an adult, you have: money, energy, but no time.

When you’re old, you have: money, time, but no energy.

It really is a luxury to have all 3 at once.

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24

This is interesting! :blush: It’s interesting to read people’s definitions and see that there are still differences in our definitions. Haha. :smiley: Hmm. :thinking: I think being rich is about having enough resources and the capacity to provide for your family, but also to other people/ causes. :sweat_smile: If that makes sense haha

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25

Sorry to hear this tommor. :frowning: I also hope that things pick up soon. :frowning:

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26

What dictionary did you get this?
The original post talked about making money from trading and definition of being rich from a money standpoint. Yeah I can start talking about my soil being rich in minerals. That’s not what he asked. Come on guys. I can also start looking at 2nd, 3rd, 4th ways we can use words.

The post asked about definitions of rich not wealth. why is everyone talking about wealth lol. No wonder everyone has different meanings to one word everyones mixing it all up. You cant be ‘poor in family’. Haha where did you hear this. And dont say a book written by a millionaire because he only did it to sell books. Can you imagine someone who doesnt get married, guys I’m poor in marriage, I’m poor in kids. Lol what if you dont want those things. Are you still poor or are you then rich? When you’re parents die which is inevitable are you suddenly poor in parents or family?! This is the problem with instagram and motivational BS, it just causes circle arguments in everything and you lose focus on what you need to achieve.

Key word being ‘everything’. If you tell me all you need is a small flat, buss pass, bread and beans everyday then you’re not worrying about anything but you are not rich lol. You are content with your life, you’ve made sacrifices but youre not rich. Anything less than a millionaire and you can live but you’re not rich. Rich is not a mindset guys its actual assets. Its objective, not subjective.

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27

I think the most important definition about getting rich from trading is basically not losing money and being sustainable. The sooner you can achieve that, I believe the sooner you will eventually be able to do anything that you want.

You can have a lucky $1,000,000 trade one day and lose it all the next. I wouldn’t say that’s rich.

All the best!

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28

Just to travel will make me rich, enough money to pay expenses. Don’t need a car. Car loses its value over time. Get a taxi :oncoming_taxi: or rent a car. Don’t need yacht, jet, lamborgini. Nice place to stay wherever I go.

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29

My own definition of riches is being able to afford anything I want at any point in time.

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30

Being rich is self sustaining and has the sufficiency to live life.

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31

I define it as having a constant cash flow aswell as assets that will not have that cash flow depleted overtime.

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32

Even Rockafella said when his health failed, “I would give all my money to have my health back.”

Now that you are rich and you are obviuosly healthy see how you feel about being rich when your health has gone. You may see things from a different perspective.

Cheers

Blackduck

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34

I’d like to think that my hard work (that is trading) will be able to firstly provide security in the sense of a home, food and all the crap needed for a happy family. And then, secondly, give me the ability to help the people in my reach who need it most(financially). Last but most important of all, get me to the point where I can stop trading and be rich in free time

35

Getting rich is not my objective anymore. I want to make enough to enjoy a simple/comfortable life in SE Asia where $ goes a long way. Enjoy amazing food, simple pleasures and have enough left over to explore and save for my old age. Thankfully my wife is on the same page so that helps. That will make me a lot happier than having all the money in the world.

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36

This is a great read, so many different points of view.

When I think of rich relating to my trading, the goal I am working toward is an account balance $200k plus. This allows me to draw great income from virtually anywhere and grow my account. On the proviso that; I maintain my written trading and risk management plan and continually monitor my susceptibility for making errors.

Financial freedom is having more income than any lifestyle and living expenditure in any given week.

Wealth, I define this differently; wealth is having the resources (assets) to not have to trade at all, totally passive income.

Then abundance is where I categorise the health, family love and fluffy stuff. It can be difficult to fully appreciate these things in their fullest form without the freedom of expression that money affords therefore;

I seek a wealthy life, from the riches of trading and an abundance of health, generosity, happiness, friends and family.

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37

Bruce wayne rich

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38

Ahhhhhhh, to become rich and how to know when I get there. Yes, rich is a relative term as mentioned. And, I am already rich. Being retired and living with my wife who is my best friend, no outstanding short-term or long-term debt except the home we live in, all our vehicles are paid for, our cash flow is positive, and the view from the west and south decks to the Pacific Ocean is fantazmic — I am there basking the richness of life. But, for us, we are working to increase our monetary wealth to help others much more than we are with our current philanthropic efforts to protect our Liberties and Freedoms, to provide today’s youth with values and character, to honor our veterans, that is our richness we strive to increase. Then, we will board a Disney Cruise ship for a trip around the world. As they do not have on yet, we will opt for Europe, the Med, and Scandinavia. May be the Caribbean or Panama Canal and up to Alaska. Anybody want to join us? :passenger_ship: :us:

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39

That’s my life goal as well

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40

If you have more money than you need you are already rich. What you have given up trying to do is to get rich-er.

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41

Imagine being poor and health is gone. You cant pay for medications, private treatment etc. Maybe you’ll see things from a different perspective. Dont short change yourself with BS quotes, that guy isnt paying your expenses so dont live your life based on him.

Just to be clear I’d rather be rich and sick rather than poor and sick. We’re all going to become unwell as we get older so just think before you post.

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