A comment on another thread got me thinking about what exactly constitutes a "rich" person. After thinking about it for a while, I came up with this simple formula that should be a pretty good tool for determining who's rich:

Take your gross annual income and multiply by ten. Now add this number to your net worth (assets minus debts). If the resulting sum is 1 million dollars or more, congratulations! You're rich.

I also came up with my own measure of poverty using the same formula. If you come up with $210,000 or less, that's a pretty good sign you're poor. I based this on the personal experience that getting by on less than about $325 a week take home is pretty tough, then applying some corrections to arrive at a pre-tax income that should approximate that.

So, what do you think?

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Whoever said there's nothing more expensive than a cheap Mercedes never had a cheap Jaguar.

83 300D Turbo with manual conversion, early W126 vented front rotors and H4 headlights 401,xxx miles
08 Suzuki GSX-R600 M4 Slip-on 26,xxx miles
88 Jaguar XJS V12 94,xxx miles. Work in progress.
99 Mazda Miata 183,xxx miles.