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this post was submitted on 03 Sep 2023
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It might be a perspective thing, and how you both define "rich".
If someone gets by every week on ramen, a salary of $100k/year would seem like a crap ton of money. Doubly so if most of their community is also living off of ramen. One year on that salary alone would be life changing for this person.
If someone lives in a pricy area and maybe has a few kids, a salary of $100k wouldn't seem like nearly as much. Doubly so if most of their community makes that much. One year on that salary is just another year for this person.
For some people, "rich" is not having to worry about starving and knowing that they have a roof over their head. It's about finally being able to buy non-necessities, and it's about being able to have things just for enjoyment. Some people are very month to month in terms of costs and bills.
To others, "rich" is being able to buy expensive boats and cars. It's about having excess wealth and never having to worry about any monetary problems. These people might think of millionaires and billionaires when they hear the word "rich".
Of course some people would consider $100k/year rich. I'm certain that MANY people would take that salary boost in a heartbeat.
I'm not saying that $100k would set you up anywhere near as much as $1m would, but it's a hell of a lot more money than many people can make.
In 10 years, that salary is $1,000,000. For someone making $50k/year, it would take 20 years for them to make that much. For someone making $25k/year, it would take 40 years for them to earn that much. I would feel disingenuous telling someone who makes $25k/year that making $100k wouldn't be becoming "rich" to them.
Maybe that's their monetary sweet spot, and they rely on other things to finish fulfilling their personal definition of "rich". Family, friends, hobbies, etc.