What Does It Mean to be Wealthy

We hear about "the wealthy", "the wealthiest 1%" etc. What does that mean. Does it mean they are millionaires, multi-millionaires? Does it mean they earn a million or their net worth is a million and does that include one's prmary residence? As you can see, the definition of wealthy can be different, and depending on your own financial situation, it may mean different things to you. Merriam-Webster defines wealth as "abundance of material possessions or resources". Still subjective. Then there is the word affluent. Are the affluent wealthy? Are affluent and wealthy different?

What does it really matter, whether you feel wealthy may depend on your environment. It may depend on how you stack up compared to your peers, your geography, and whether you are doing better than them.

Those who don't feel wealthy may imagine the wealthy don't have any cares and live on easy street. In many ways, they do. One of the most important benefits of wealth is freedom. They don't have to stay at a job they hate or even work in a traditional job. However, they do have cares and in many ways their life is more complex. Someone who doesn't have much, life is simple in that their main concern is meeting basic shelter, food and clothing needs. For the wealthy, they are concerned about keeping and growing their wealth, making wise investments, estate planning, and if they own a business they may have employee and investor concerns.

Freedom to choose, though is the best reason to achieve wealth. You don't have freedom from cares, though.