When Are You Wealthy?
Most people have wondered at some point about when someone counts as wealthy. So the question often arises whether you are wealthy if you earn good money, or whether assets also count.
What does that mean?
"When are you wealthy?" You may have asked yourself this too. There is a general definition for this question. By that definition, you are poor if you earn only 60 percent of the median income or less. For a single person in Germany, that would be around 1,000 euros net per month or even less. Wealthy is the term for anyone who earns twice the median. In Germany, that would be roughly 3,500 euros. However, this is only the German answer to the question "When are you wealthy?" Other countries, for example, have other definitions that are considerably lower or more demanding.
Other definitions of "when are you wealthy?"
Of course, keep in mind that this only concerns income and the official definition. When you count as wealthy can also be decided personally and based on assets. There are certainly people who have inherited a great deal and can therefore show considerable wealth. Just because they don't work now or only do small jobs doesn't mean they aren't wealthy. For example, it is quite interesting that more than 43 billion euros were passed on through inheritance in Germany in 2016 alone. Many millionaires in Germany also only came into their wealth because a parent died or a relative divided up their estate. So the definition of wealthy should be viewed very critically.
Conclusion
The fact is that, officially, you count as "poor" once you earn less than 1,000 euros net per month. However, there are certainly people who live very well and are happy despite a relatively low income. So it takes not only money to count as wealthy, but also assets and property, such as inherited apartments, houses or other things. Since the beginning of humankind, where you come from and what circumstances you grew up in has played a major role. That is also why everyone should judge for themselves whether they count as wealthy or not. After all, the official definition refers only to money.