Now that you know what income level you consider rich, it's time to focus on building your net worth. Once you build a substantial passive income stream from which to live, then you are considered rich in my opinion. While there's no debate that people like Oprah Winfrey or Jeff Bezos are rich, determining a base salary that would qualify someone as rich isn't that simple. That enormous development will positively affect many workers and businesses in Alexandria, with a smaller but similar ripple effect that will be felt throughout the Northern Virginia region.
As in many other rankings of this type, Northern Virginia did well, filling three of the top four and four of the top seven. When I was younger, I would have said that a rich person is someone who doesn't care about money anymore, and I'm at that point. To get an idea of what it means to be rich in the United States, GoBankingRates used IRS data to conduct a study of the highest incomes according to their breakdown by state. I think most people in the United States would agree that what Obama defines as rich is, in fact, rich, especially for people who don't live in the most experienced areas of the country.
Because of its abundance of amenities and ease of access, Northern Virginia is a great place to live while still enjoying a lower cost of living than major metropolitan areas across the country. Great Falls, a wealthy city in Virginia and one of the richest in the entire country, prides itself on its prosperity. With Amazon joining the region's already strong technology sector, and local leaders focused on diversifying the career landscape, the economic forecast for Northern Virginia looks promising for those looking for an even better salary. In my opinion, you'll never feel rich until you're 100% in control of your time and have the freedom to do whatever you want to do.
A new ranking of the richest localities in the country aims to adjust the cost of living in such rich places, but it turns out that northern Virginia is so well-off that the adjustment doesn't change much. I think most reasonable people can come to a conclusion of who is rich if they have an agreed threshold for “net worth”.
