As inflation diminishes the purchasing power of money, the perception of wealth shifts constantly. A Redditor raises a concern regarding personal wealth, questioning if $20 million is the new standard for feeling rich, despite holding $7.5 million. Discussion within the Fat FIRE community highlights that accumulating wealth prompts a continual re-evaluation of financial goals. Individuals often feel financially inadequate when surrounded by wealthier peers, and the community offers insights on what constitutes 'rich' in today's context, where even $7.5 million feels insufficient.
The ever-changing perception of wealth often leads individuals to constantly readjust their goals, making them feel they need more, even after achieving a significant net worth.
Inflation has drastically affected how far a dollar goes, resulting in many believing that retirement requires much higher sums than previous generations.
Living in affluent areas can skew perceptions of wealth, as one Redditor with $7.5 million wonders if only reaching $20 million would make them feel rich.
The Fat FIRE community illustrates how concepts of affluence vary significantly, with members often suggesting that larger amounts are necessary to feel secure.
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