How much money does a person have, in order to be considered as rich?

We always hear the word "rich man" or "rich person" or "the rich".

Just how much money do you think a person should have to be considered as rich? In Singapore, during the property boom, some high rise apartments were selling as much as S$700,000.

The sellers did not think this was enough money to be considered as rich. After all, once they sold their apartment, they had to buy another apartment, otherwise they would be homeless. After deducting the cost of purchasing a new apartment, they might have a net profit of $300,000.

So how much do you think a person need to have to qualify for using the word "rich"?

Many billionaires and millionaires see their net worth reduce drastically in a recession. That doesn't mean they are not rich. The millionaires and billionaires are still rich, much richer than working folks. They have so much money to outlive them a few lifetimes. Most of us are still working hard for our retirement nest.

Getting rich and staying rich is the aim of many people, even though most people do not really know how much they need to consider as rich.