What income/net worth is enough to categorize someone as rich?

On another question asking how much money people believe would make them happy, we were throwing around terms like “rich,” “poor,” and “middle class.” It’s hard to know what people mean by these terms without asking. So I’m asking.

In concrete numbers, either in terms of annual income or current net worth, where would you draw the line? Or, if you prefer, you can do it in the relative sense—the top 5% or top 10% or whatever in annual income or net worth. Also, choose whether you are talking about individual income or family income.

Try to explain why you chose these numbers. Also explain why you think income is more important or equally important as, or less important than net worth in determining “rich.” My guess is that people generally think that rich is something they are not. So they’ll put the line above them. Very few people will admit to richness, even if they are in the top 5%.

For me, I think if your family earns more than $250,000 per year or has a net worth of more than $2 million, I’d call you rich. If it’s above $500 thousand per year and $10 million net worth, I’d call you very rich. And above $1 million per year and $100 million net worth, I’d call that filthy rich.

I think that income and net worth should be considered with equal importance. Why these numbers? Seems to me they are where people, even with a lavish life, don’t have to worry if the income stream should stop. They’ll be set for life, even if they have to cut back on their life style.