Op you're educated enough to know that this depend on many factor. You can use what you earn to determine that, but what is left after spending.

As far as Nigeria is concerned, with 500k monthly income, you are borderline rich. I didn't say wealthy or filthy rich but you are rich enough and far above average income.

Was it not only two months ago that CBN announced that about 90% of Nigerians have less than N500k in their account?

If anyone decides to spend beyond their means, it is of no one's concern. As far you earn over half a million in Nigeria, you are rich.

Our GDP per capita is N950,000. It takes you just two months to earn more than that and you say you are average.

Oga no vex me. With respect to the Nigerian economy, you are indeed rich.

SUPERPACK:
Speak for those that have zero in economics sha not me. With that pay I will enjoy my life here in Nigeria and never look for more. I will still save 250k per month at the end minimum. I live a minimal lifestyle, no smoking, drinking, clubbing, womanising nor friends and don't fancy social attention.

we are the same. But I feel weird some times.
As in, I can stay inside throughout the day if I don't anything to do outside.

tarantino1:
As far as Nigeria is concerned, with 500k monthly income, you are borderline rich. I didn't say wealthy or filthy rich but you are rich enough and far above average income.

Was it not only two months ago that CBN announced that about 90% of Nigerians have less than N500k in their account?

If anyone decides to spend beyond their means, it is of no one's concern. As far you earn over half a million in Nigeria, you are rich.

Our GDP per capita is N950,000. It takes you just two months to earn more than that and you say you are average.

Oga no vex me. With respect to the Nigerian economy, you are indeed rich.

Hearing stuffs like this is good, makes one feel some ease you know lol



Good to know we still have contented and conservative Nigerian youths with good financial reasoning

ObosiUkwalla:
So I was arguing with a friend who stays in the states and he keeps saying I am a rich guy.

Current salary is about 512k per month (take home), and has an annual increment of 15% of your take home. This is aside perks of perdiem anytime I travel outside work base (15k per night).

Anytime he wants me to have minor something done in NG on his bahalf, he expects me to use my money and whenever I ask, he tells me not to complain that I am rich (he knows what I earn), I don't have a problem doing those things for him.

I don't see myself rich and pls guys, what can someone earn in Nigeria to be termed rich. Your opinions will count alot as I still find it hard getting the usual daily stuffs we all use.
I am not married and do not have responsibilities. My mom is a retired govt worker and other siblings are all working.

Cc: seun mynd44 pls help us for more audience and opinions

You are not rich guy. It sounds like you are doing on a terminal work and here you are talking about being rich?

SUPERPACK:
Speak for those that have zero in economics sha not me. With that pay I will enjoy my life here in Nigeria and never look for more. I will still save 250k per month at the end minimum. I live a minimal lifestyle, no smoking, drinking, clubbing, womanising nor friends and don't fancy social attention.

so with 2 children and a wife. and parents... and a home , u will save 250k per month in this buhari era? like someone said..... earn it first!

ABSOLUTELY..

Emmanuel909090:
Anybody earning 500k in today's Nigeria is a rich man

franchasofficia:
Lol, I understand you very well brother, but please don't use the word "rich", biko I take God beg you, you can say comfortable but not rich. Being rich goes beyond earning 500k monthly salary bikozie.



Aside that, you are right in other points. But before you can be called rich, there are levels you must have attained not just a 500k salary will qualify one to be called rich whether in Naija or in Bokinafaso




And please the goal of employers isn't to pay you salary that will make you rich, but to make you comfortable enough to focus on your job and help their business empire grow, though some people become rich through working still, but not with 500k monthly salary unless the person is into shady office runs as known with most Nigerian civil servants and employees, sadly

Now I understand you.

ObosiUkwalla:
So I was arguing with a friend who stays in the states and he keeps saying I am a rich guy.

Current salary is about 512k per month (take home), and has an annual increment of 15% of your take home. This is aside perks of perdiem anytime I travel outside work base (15k per night).

Anytime he wants me to have minor something done in NG on his bahalf, he expects me to use my money and whenever I ask, he tells me not to complain that I am rich (he knows what I earn), I don't have a problem doing those things for him.

I don't see myself rich and pls guys, what can someone earn in Nigeria to be termed rich. Your opinions will count alot as I still find it hard getting the usual daily stuffs we all use.
I am not married and do not have responsibilities. My mom is a retired govt worker and other siblings are all working.

Cc: seun mynd44 pls help us for more audience and opinions

No, such a person cannot be considered rich na.

A fellow salary earner like you by the name of Idris has 80 billion in his account.

I make more, it is still suffering unless you are living in face me i face you and living like you make 80k monthly.

Now that Nigeria has happened, i make like 150 monthly.... If you cant go illegal, japa

UyaiIncomparabl:


500k Isn't rich, please. Especially if you have a lot of responsibilities/mouths to feed.

Na average salary. Start earning it and you'll know how far.

Are you naked in your profile picture?

average.
I'm earning less and I want to marry adadike
my neighbours don dey call me professional bachelor

UyaiIncomparabl:


Start earning it and you will know.

As your income increases, your taste increases. Those that know, know.

Worst financial advice ever. Your wants should not rise in relation to your salary.

Always live below what you earn. That is the ONLY way to build wealth. This is true whether you earn a million or a hundred thousand.

SUPERPACK:
500k average salary in Nigeria? Same amount that can pay salary of entire staff of a small private primary/ secondary school monthly. Women and their wahala sha.

No mind her jare
Ladies sha

Well, such a person belong partially to the middle class cos he can afford a car and if income is well management, the person can also afford a home of his own.

Misplaced priorities! Both you and your friend are not serious.

Wealth is subjective!

In my learned opinion, only less than 20% of the world population can be considered RICH in every sense of the word!

From Nigeria, America, to Europe, how many people make millions in their national currencies every month?!! How many?!!

Most of you don't know what earning over half a million Naira means in this nation! That is beyond comfortable, except you are greedy, ostentatious, and extravagant!

Seun, Mynd44, Lalasticlala, we should be careful with threads like this... Let's not promote desperation and criminality among our youths.

UyaiIncomparabl:


500k Isn't rich, please. Especially if you have a lot of responsibilities/mouths to feed.

Na average salary. Start earning it and you'll know how far.

Maybe it depends on the number of wives you marry

ObosiUkwalla:


I am not married.

Well, 500k monthly is not bad if you can plan for it very well

Also, someone who earns 500k monthly cannot be considered as rich but not poor either because it's something of mind

Some people earn 100k monthly & considered themselves rich

Contentment, goal, & lifestyle determines how we rate ourselves

As long as you can afford things you need in life but not necessarily your want (because sometimes our want is not what we truly need) then you should consider yourself rich.

If you don't waste money unnecessarily & your place of work is not far from house, 100k - 150k can feed you monthly to your satisfaction

Is 120k salary consider average,? Then u can answer the questions by ur self

Some friends and emotional blackmail plus making ur head swell while they freaking take advantage of u...

Even if I earn a million naira daily, if u want me to run an errand for u, YOU MUST PAY FOR IT, IF IT WOULD COST MONEY.. UNLESS OF COURSE I PERSONALLY TOLD U NOT TO

joey150:


Worst financial advice ever. Your wants should not rise in relation to your salary.

Always live below what you earn. That is the ONLY way to build wealth. This is true whether you earn a million or a hundred thousand.

Undiluted fact

UyaiIncomparabl:


500k Isn't rich, please. Especially if you have a lot of responsibilities/mouths to feed.

Na average salary. Start earning it and you'll know how far.

madam make i send my account details?

Rich bawo.... He's considered a lower middle class. Some of us get 3times that monthly and are still considered upper middle class.

500k a month I go feel so fly.

In the midst of general poverty it's very rich.. That's almost $1000/month

ObosiUkwalla:
So I was arguing with a friend who stays in the states and he keeps saying I am a rich guy.

Current salary is about 512k per month (take home), and has an annual increment of 15% of your take home. This is aside perks of perdiem anytime I travel outside work base (15k per night).

Anytime he wants me to have minor something done in NG on his bahalf, he expects me to use my money and whenever I ask, he tells me not to complain that I am rich (he knows what I earn), I don't have a problem doing those things for him.

I don't see myself rich and pls guys, what can someone earn in Nigeria to be termed rich. Your opinions will count alot as I still find it hard getting the usual daily stuffs we all use.
I am not married and do not have responsibilities. My mom is a retired govt worker and other siblings are all working.

Cc: seun mynd44 pls help us for more audience and opinions

Guy, your tithe is even more than what I earn monthly as a teacher. Yet I don't consider myself poor ����

ObosiUkwalla:
So I was arguing with a friend who stays in the states and he keeps saying I am a rich guy.

Current salary is about 512k per month (take home), and has an annual increment of 15% of your take home. This is aside perks of perdiem anytime I travel outside work base (15k per night).

Anytime he wants me to have minor something done in NG on his bahalf, he expects me to use my money and whenever I ask, he tells me not to complain that I am rich (he knows what I earn), I don't have a problem doing those things for him.

I don't see myself rich and pls guys, what can someone earn in Nigeria to be termed rich. Your opinions will count alot as I still find it hard getting the usual daily stuffs we all use.
I am not married and do not have responsibilities. My mom is a retired govt worker and other siblings are all working.

Cc: seun mynd44 pls help us for more audience and opinions

To quote my guy, you in the top 10% of earners.

However this is no excuse for your guy to use you - unless you have a history where he came through for you, or you know one day he will also come through for you. If the money is not significant, blank it mentally and look at it as a payment into your guys emotional bank account

SUPERPACK:
Speak for those that have zero in economics sha not me. With that pay I will enjoy my life here in Nigeria and never look for more. I will still save 250k per month at the end minimum. I live a minimal lifestyle, no smoking, drinking, clubbing, womanising nor friends and don't fancy social attention.

I felt the same way when I was about to start earning 100k monthly. Then I quickly found out the reality.

I earn about 3 times (or more) what the OP does monthly, but it somehow has normalized into something unremarkable.

Your tastes and responsibilities grow proportionally to your earnings.

SUPERPACK:
500k average salary in Nigeria? Same amount that can pay salary of entire staff of a small private primary/ secondary school monthly. Women and their wahala sha.

person wey get cap no get head, and person wey get head no get cap, what do u ve to tell those who earn 10%of that monthly IE 50k? The life u complaining about is what another person is praying for

ObosiUkwalla:
So I was arguing with a friend who stays in the states and he keeps saying I am a rich guy.

Current salary is about 512k per month (take home), and has an annual increment of 15% of your take home. This is aside perks of perdiem anytime I travel outside work base (15k per night).

Anytime he wants me to have minor something done in NG on his bahalf, he expects me to use my money and whenever I ask, he tells me not to complain that I am rich (he knows what I earn), I don't have a problem doing those things for him.

I don't see myself rich and pls guys, what can someone earn in Nigeria to be termed rich. Your opinions will count alot as I still find it hard getting the usual daily stuffs we all use.
I am not married and do not have responsibilities. My mom is a retired govt worker and other siblings are all working.

Cc: seun mynd44 pls help us for more audience and opinions

You should be living a comfortable life with that salary but not rich untill you build it and make money start working for you. I will advise you to have at least half of your take home in savings since you are still single and/or with less dependents cos by the time you start raising your own family without multiple streams of income, you will realize 500k is just huge on face value.

Your friend shouldn't expect you to do stuffs for him with your money unless you choose to no matter how rich you are.

N2B2:


Earning just north of 700k per month here, and I don't consider myself rich. Comfortable, maybe, but certainly not rich.

The truly rich are those buying #100 million presidential forms like pure water, and even to them, there's someone richer.

Those are Wealthy people.

Lol people still do not understand the concept of money.
The other dude broke a safe and counted over 300,000 out of it. I laughed because a salary earner has no business with a kolo, also a married man with kids has no business with a kolo. U'd have to be 90% single and zero responsibility to achieve such feat.
About this topic...
We forget feeding (you don't expect a man that earns 500k monthly to eat a N200 meal in a wack restaurant).
He has bills ( electric, media, phone, fuel, mechanics....)
Let's leave the nightlife out of it.
Family?
Kids?

... For a single lad, he will save only at most 200k monthly
.... For a family man, he will save same 200k or less
... For a breadwinner of his immediate family... Na 100k saving monthly or less.

At the end of it all.... 500k is not enough. The best way to survive is on daily earnings or deals that come frequently.
Salary work never made anyone rich!