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But objectively, a monthly income over 10l-15L after taxes puts u definitely in the rich category, AFTER you have "wealth" netting around 5 to 6 crore (this is cash wealth, meaning easily liquid) AND have a property excluding this in the 4 to 5 cr range
Wealthy - 5 crore yearly
Rich - 1 crore yearly
Upper class - 50 lakhs yearly
middle class - 12 lakhs yearly
1. Poor: Below Rs 8 lakhs a year after tax
2. Lower middle class: Rs 8 to 20 lakhs a year after tax
3. Medium middle class: Rs 20 to 40 lakhs a year after tax
4. Upper middle class: class: Rs 40 to 60 lakhs a year after tax
5. Lower affluent class: Rs 60 to 80 lakhs a year after tax
6. Medium affluent class: Rs 80 to 1 crore a year after tax
7. Upper affluent class: Rs 1 crore to 1.5 crore a year after tax
8. Lower high net worth class: Rs 1.5 to 5 crore a year after tax
9. Medium high net worth class: Rs 5 to 10 crore a year after tax
10. Upper high net worth class: Rs 10 to 20 crore a year after tax
11. Lower super-rich class: Rs 20 to 40 crore a year after tax
12. Medium super-rich class: Rs 40 to 60 crore a year after tax
13. Upper super-rich class: Rs 60 crore to 100 crore a year after tax
14. Meister: Rs 100 crore to Rs 200 crore a year after tax
15. Super Meister: Rs 200 crore to Rs 300 crore a year after tax
16. Lord Meister: Rs 300 crore a year upwards after tax (Ambanis, Adanis, Jindals, Shroffs, Harish Salve etc)
1. Not worrying about monthly expenses (whatever your lifestyle may be)
2. Having an asset base (houses, solid investment portfolio, liquid cash holdings)
3. Enough to set aside for future expenses (family, health, education etc).
For me (SA at a T1), the target is 20 crore networth. After that, I’m out.