Techsupport:

I am no business person, I am a monthly income person. I don't know the average income in Nigeria. My question is this how much money should you have to be considered rich.
or how much monthly income should you make to be considered rich?

N200.00

Too much money, is never enough money.

RuudVanNisteroy:

I never claimed to be rich. That is what management staff earn in blue chip companies.

Like which blue chip company?
I know your slow ass will bring a screenshot of salaries of westerners,then I'll tell you to bring their expenses too in dollars and let's see what will be left as savings.
Even in the US,90% of doctors don't make that much so stop spewing nonsesne!
To quote figures dey always easy for una.

Firstly Rich is a mindset, secondly Naira is usless. It's $2 million dollars annually for me, and that is even entry level. That's why I don't have time to waste!

Being rich is defined by two things;

1.Your Time and Freedom

2. the stability of your financial life if you are not actively involved in your business AKA being passive...(the word "business" does not put employees in this category because they are busing minding other people's businesses and making them rich).

princelycash:
2m and above


BTW i have a sure business idea to earn bi-weekly but can't start cuz of funds. 100% safe and collateral can be provided by me incase of doubt. You won't be sending me your money though.
Hit me up lets cash out

Who will I be sending my money to if not you

shawnfamous:
This question must have been asked by someone below 18 years.. If u have a job that pays 1M monthly and u have projects u are carrying out, do u still consider urself rich ? U can't even call ur self rich even after Working for a year when u have Responsibilities..
meanwhile, Wealth has Grade, Ur 12M Gross take home is someone's hospital bill.

when I was 18, the current 22-year-olds were still in their mother's womb. stop making assumptions. making 1m a month is a continuous source of income due to skillsets. the project that you are investing in will be completed one day and your source of income continues. Come to think of it, what project are you doing that is not adding to your net worth?

SeaTrade:
Like which blue chip company?
I know your slow ass will bring a screenshot of salaries of westerners,then I'll tell you to bring their expenses too in dollars and let's see what will be left as savings.
Even in the US,90% of doctors don't make that much so stop spewing nonsesne!
To quote figures dey always easy for una.

There is a difference between being middle class and rich.

I am talking rich in terms of been able to buy property in Ikoyi,Lekki,Banana Island,Garki and Maitami. And drive luxury vehicles such as Toyota Landcruiser VX,Mercedes S class, Audi A8, BMW 7 series, rich.

monthly income looks more like salary to me!to be a #moneybag,u need to make money every second,even when sleeping!u can see why mike adenuga is one of the three dollar billionaires in nigeria!

is not how much you make is what you can do with the one you got

To have businesses going for you that earn you a minimum of 10m monthly, then I might consider you rich, if you have properties on the side you put out for rent or lease, then you're really doing good

RuudVanNisteroy:

I never claimed to be rich. That is what management staff earn in blue chip companies.

For real? 30k USD in a firm? in Nigeria?

seunny4lif:
50K per Month

hahhahaha

RuudVanNisteroy:

There is a difference between being middle class and rich.

I am talking rich in terms of been able to buy property in Ikoyi,Lekki,Banana Island,Garki and Maitami. And drive luxury vehicles such as Toyota Landcruiser VX,Mercedes S class, Audi A8, BMW 7 series, rich.

That is called being wealthy ,
Rich people don't live in Manhattan either,they buy houses in the suburbs and finance it through mortgage in the west,
Like wise Nigeria where they stay in lekki and the likes ,not banana or Ikoyi.
Learn that my melodramatic friend.

As much as you can make
and as long

as you don't beg for food

IF WHAT YOU MAKE IS SUFFICIENT TO MEET YOUR NEEDS, Believe me, YOU're RICH!

Techsupport:

I am no business person, I am a monthly income person. I don't know the average income in Nigeria. My question is this how much money should you have to be considered rich.
or how much monthly income should you make to be considered rich?

Techsupport:


For real? 30k USD in a firm? in Nigeria?

Yes, check the salary of General Managers and Executives in Globacom,MTN,Shell,First Bank,Nigerian Breweries,ExxonMobil etc.

abbeyty90:
I know Naira is in it lowest point at the moment but de way these people dey quote figures get as e be, how many American make 30,000 dollar per month? I am sure many of them earn less than 5,000 dollar per month

I wonder too. the average family of 4 income in the US is 56k USD per anum

SeaTrade:
That is called being wealthy ,
Rich people don't live in Manhattan either,they buy houses in the suburbs and finance it through mortgage in the west,
Like wise Nigeria where they stay in lekki and the likes ,not banana or Ikoyi.
Learn that my melodramatic friend.

I went to school with rich people,so I know the difference between middle class and rich people. I consider myself coming from a middle class background, even though you may classify my upbringing as rich. I went to private school, travelled business class with my family, travelled across Europe and had properties around the country growing up

Not until you attend private school you realize the difference between middle class and rich.

i need 5k now abeg guys 0110538704 Gtb bank

RuudVanNisteroy:

I went to school with rich people,so I know the difference between middle class and rich people. I consider myself coming from a middle class background, even though you may classify my upbringing as rich. I went to private school, travelled business class with my family, travelled across Europe and had properties around the country growing up

Not until you attend private school you realize the difference between middle class and rich.

Funny,I had same experience.
So better stick to the topic and give me facts
If you were so smart,you should know that there is something called lower and upper middle class,with the upper part of it being synonymous to rich,
So spare me the bs and give me something I can work with.

Na lie?

FatherCHRISTMAS:

hahhahaha

To be considered rich have nothing to do with your salary/monthly income.

As long as you are okay/comfortable i.e. You eat comfortably whatever you want, feed, school your children in any school of your choice, provide all your family needs comfortably without struggle; And still have your savings. then you are rich.

Lastly, You are living in your own house i.e. not paying rent.

seunny4lif:
Na lie?

I wouldn't even say no to half of that at the moment. County hard

SeaTrade:
Funny,I had same experience.
So better stick to the topic and give me facts
If you were so smart,you should know that there is something called lower and upper middle class,with the upper part of it being synonymous to rich,
So spare me the bs and give me something I can work with.

I went to private school with the Lagos and Abuja crowd. From corrupt Governors and Senators kids to corporate titans that ran blue chip companies.

I am sticking to the topic of what is considered rich and I gave the bare minimum required.

Maybe 10 million

2mllion no too get value like b4

You see
I remember working at the MM International airport as a cleaner and up till now the company never pay my salary ooooh
Just 18K per month yet I never see my money

FatherCHRISTMAS:
I wouldn't even say no to half of that at the moment. County hard

Earning#700k monthly and I'm considered rich

FatherCHRISTMAS:


Rich is categorized by the number of businesses you control or investment you hold and not about monthly income.

On the other hand, let's say you ear 2.6m per month apart from other incentives, then you are lucky and rich. 2.6m ×12 months = wealth
What majority of Nigerians consider as rich is having a nice house and a car.

meanwhile Please check my thread

https://www.nairaland.com/6506600/dept-officially-declaring-bankruptcy
https://www.nairaland.com/6512637/how-ran-into-debt#100919299

..

Good review. But there are levels to all these.

ratiken:


2.6M = 5.3k USD.... I don't think Nigerians fully understand what Buhari has done.

If your earning is naira... forget it, you have lost so much value. The average Nigerian millionaire aint rich.

When you guys mention Buhari, I wonder if you guys don't understand economics.

Well before Buhari thought he could actually win and become president, NOK warned against the inevitable. Buhari had not finished receiving economic briefing before the country went into recession. At the same time our major source of income took the biggest hit since the oil boom of the 70's, when oil prices fell to the record lowest.

It will be better to say Buhari came with bad luck but being unreasonable is the very thing that confuses me.

Caveat: I hold no brief for Buhari's inactions, slow actions and no actions. I expected him to be on top of his toes especially with insecurity and corruption.

I call a spade a spade.

ratiken:


2.6M = 5.3k USD.... I don't think Nigerians fully understand what Buhari has done.

If your earning is naira... forget it, you have lost so much value. The average Nigerian millionaire aint rich.

5.3k USD monthly is 60K USD monthly. Only 37% of Americans earn above 50k per annum. Always rushing to make conversions without considering the economic differences.

2.5milla