A persons worth

N

noproblem

Registered User
Messages
3,281
What with all sorts of talk on low returns for money, stock market being hit and miss, property rentals and the problems within that, managed funds, their charges and no guarantees, etc, etc, my question to qualified people on here is, what would ye consider as someone being well off, wealthy enough, rich or after that very wealthy? Is a person with a good property and no mortgage with a €3/4k monthly cheque coming in doing ok? What about someone with 2 properties and no mortgage, someone with savings of either €100k, €200k, €300k, €400k, €500k and a couple of properties with no mortgages? In other words what's considered fairly wealthy anymore?
 
Well, you can't take it with you as they say, so surely wealth is relative to the rate at which you plan to spend, and how long you plan to do it for. Someone on their death bad with 5 cents has more money than they know what to do with. Some with €100k at age 20, but no prospect of ever earning any more, is hardly well off.

It all depends on age, income, and burn rate!
 
Don't know if I'd be classed as "qualified" but been a millionaire today is not what I thought it was going to be like when I was a kid growing up :oops:
Of course it depends on how many millions you have:)
 
At the risk of sounding sanctimonious the title of the thread is misleading; I don’t think a person’s worth can be measured in financial terms.


As for what constitutes “rich” it is all down to net income, after taxes and expenses. If you take home €8,000 a month but have €7,000 of expenses in the form of a massive mortgage, car loans, childcare costs, legacy loans etc then you are living hand to mouth.

If you take home €3000 a month and have no mortgage, no loans, no childcare costs then you are well off.
 
Now matter how much or how little you earn it does not indicate what you are worth. If your heart is giving serious trouble or some malignant cancers are about to erupt your worth ain't monetary. But, if you have been checked out from your rear end to breakfast time and there is no unwanted news then you can start thinking of what you're worth.

An old school pal of mine jay walked in the South Mall yesterday with his mobile phone glued to his ear and his body language suggesting that he didn't care what he was doing. Unlike me, he is stinking rich and probably more healthy too, but he came close to copping it if I didn't press the brakes. He's probably wondering how much he's worth too.

It would have been a worthwhile attending the afters of his funeral though.
 
noproblem said:
In other words what's considered fairly wealthy anymore?
Click to expand...
How long is a piece of string these days? I'd say it's both subjective and relative. If one is healthy, can pay their bills and eat well then they're well off. If one has a low/no-stress job and a family network then all the better.
 
Financially rich to me is not having to work or be dependent on the state or an employer for money.
It's when you are financially free to live a comfortable life without debt.

Ultimate Richness is having good health and happiness.
 
Purple said:
Retired, is that what you mean?
Click to expand...

Lots of people will reach retirement age dependent on the state to survive.
Lots of people with a private pension will still live week to week dreading an unforseen bill come through the door.

It would have to be a very comfortable retirement.
 
johnwilliams said:
me flat broke most of the time ,my worth???
Click to expand...

A persons worth and their financial worth is two separate things.

Most people are priceless but their financial worth may be only what somebody is willing or able to pay them.

E.g. Nurses and others in the caring occupations are priceless but the state can only afford to pay them so much.
 
Laughahalla said:
Lots of people will reach retirement age dependent on the state to survive.
Lots of people with a private pension will still live week to week dreading an unforseen bill come through the door.

It would have to be a very comfortable retirement.
Click to expand...
Richest demographic in Ireland at low risk of poverty, with the highest discretionary income. There are some poor pensioners but there are plenty more poor people within nearly every other group in Irish society.
If you are rich the chances are you are a pensioner.
 
Purple said:
Retired, is that what you mean?
Click to expand...
Well It all depends on how you value your contributions and the returns you expect/insist on getting in return for that contribution,
I worked and paid contributions for around 49 years for my state pension,
The last 25/30 years was spent working on costings in an Engineering Company Manufacturing parts tight margins, others not so tight, The company is still manufacturing in Ireland and it looks like they will be for a long time to come,

on low margin Items Social Welfare cost was around 18.5% of payroll and payroll was a large % of finished cost on some Items,We always paid good wages to the operators manufacturing Product ,They view of management was always look after the people well who pay all of our wages,

The point I am making is before we added profit operators had to earn enough to cut a cheque for there own wages including Social Welfare, cut another cheque to pay the social Welfare requirements if we hired people to manufacture this Item,Close to 20% of people cost went to the Government in total,

These are the people now reaching retirement having seen close to 20% of payroll go to government,all of there working life,

I know you have posted hear in the past that by the time you reach retirement the OAP may only be worth 5 euros And you seam happy to allow this to happen,

I can tell you the people who retired before you are hardy, The will be getting 248 Euros from the 25 March 2019, They seen close on 20% of payroll taken all of there working life and know the value expected in return,

The hardy take there cattle to the market knowing how much they are worth seeing 20% of payroll was invested they asked around 285 euros but took 248 euro,

The foolhardy take there cattle to the market expecting 5 euros for them they are really worth 248 they are whinging because others are having a party on the other 243 euros the left behind, the should not be let out on there own,:confused:
 
Last edited:
Purple said:
Priceless?
€58,000 on average, not including the value of their pension.
Click to expand...
Don't have a hang up about the Nurses Pension There are very good tax breaks for private sector workers ,
I worked in the private sector all of my life I paid into a pension along with my employer It is worth more now than any job I would have got in the public service,

Never forget the only reason tax breaks are so good on pensions is so most private sector workers could have a Good pension same as public service,
I would expect as the public service pension is worth less now tax breaks will fall too in the private sector to match public service,
So instead looking at public service pensions work on having one as good in the private sector to match public sector,
 
Last edited:
Purple said:
Priceless?
€58,000 on average, not including the value of their pension.
Click to expand...

Purple said:
Richest demographic in Ireland at low risk of poverty, with the highest discretionary income. There are some poor pensioners but there are plenty more poor people within nearly every other group in Irish society.
If you are rich the chances are you are a pensioner.
Click to expand...
As I said heat and half enough to eat and happy goes a long long way, You could be rich and looking over your shoulder at the person next to you and make yourself poor and sad,
I posted on hear in the past about my own parents ,The Day the got the old age pension they felt like Millionaires and that feeling lasted there whole life,
WE were invited to there home for a meal ,we were happy for them back then ,I suspect some Sons now for some unknown reason no longer feel like I did what a pity ,In the old days it used to be called Dog In The Manger,
 
Last edited:
You must log in or register to reply here.
Back
Top