Originally Posted by cosmo starr
i dont spend much so i dont have to work much.....by being flat broke i am still 'wealthier' than a majority of americans because i have NO debt.
To me, the term wealthy indicates the posession of income producing assets.
The term to which you are referring to is "Net Worth", assets - liabilities= net worth.
It is quie possible to have a lot of income producing assets, supported by a heavy debt burden, and yet have lots of positive cash flow. In fact, this is the model used by most real estate investors who invest in rental property. By carrying a heavy debt load, one can purchase more property than otherwise possible and thus produce more income.
Now, to answer the OP's question, I am not car free, I am car lite, and I am easily in the upper ranges of the wage earners and I have a net worth which is approaching the 7 digit range.