From my observations, those who will have many wants are less happy than those with many needs.

You can tell that a person is wealthy when the person dressed very simple but neat with no visible labels. Only a poor person will show off their designer labels. <--- not for a truly rich, they just dont wear big DNKY logo

A wealthy person spends more on food than on electronics and fashion. Only a poor person would spend their food money on the latest gadgets and handbags. <--- wrong, they spend on both, cause they can afford it

There are tell tale signs when a person is financially secured - he/she still travels abroad even when the ringgit is tanking, he/she's wallet is stuff full of 100 ringgit notes and only pays with cash all the time. <--- super wrong, all use credit card

Other telltale signs include a mid tier car but with an expensive old number plate (single or double digit) which shows that the person is from an old rich family. <---- nope my boss has a fleet of RR

Does not like to show off. Very low profile about his life or where he lives. Also will try to not show off his watch and downplays it when friends notice his expensive watch. <--- Yes. This one correct. GOt one low key dinner, his wife was wearing $150k watch (USD ya)

Poor people would buy a car on 7-10 year loan and would usually buy entry level cars from Mercedes, BMW. A-class and 1-series are cars of choice for posers.

Poor people also wear designer labels on the outside and make sure people notice their fake watch or entry level watch. Rich people will go for the mid tier pricing for any luxury watch brands they buy into. The expensive upper tier of a luxury brand is reserved for posers whom saved up for a decade or more to afford it but after that, cannot afford to service the watch as it costs 4-5 digits to repair it every 3-5 years.

Poor people drink at bars and clubs where overpriced drinks are being sold. Rich people drink at home in their mini bar away from the noise and bar plebeians.

Anything else that I missed out? Looking at my list, I think I am more poor than rich.

non of them is happy

this is agree... my uncle's friend wears neat and simple clothes and yes, not a single brand on them... has a camry and estima but wears an RM80k rose gold ceramic big bang and some seikos and gshocks
my uncle also same... simple man, but small time property developer

It depends...

I wont take my boss as example cause he's too rich.

I'll take a "bro" of mine, same age as me. He drives... well his driver drives a camry/alphard.... his cloths no label cause its all bespoked, his watch the usual AP, blah blah.... oh his driver is also his bodyguard, armed. He was also armed, but these days lazy to carry anymore. WHen I met him recently, we went pudu for some cheap street food while wearing our gshock, but after that went to clubs and blew around 1500 per pax that night..

Oh he's worth upwards of 100M la.... so u see i gave up trying to impress anyone.. cause some of the ppl i hang with are just too high for me to achieve 

Richard Branson, Jack Welsh, Bill Gates, Li Ka Shing and the recently deceased Steve Jobs are poor by your definition then?

And 50 cents, Missy Eliot and other bankrupt rappers are ultra rich in your eyes??

From my observations, those who will have many wants are less happy than those with many needs.

You can tell that a person is wealthy when the person dressed very simple but neat with no visible labels. Only a poor person will show off their designer labels.

A wealthy person spends more on food than on electronics and fashion. Only a poor person would spend their food money on the latest gadgets and handbags.

There are tell tale signs when a person is financially secured - he/she still travels abroad even when the ringgit is tanking, he/she's wallet is stuff full of 100 ringgit notes and only pays with cash all the time.

Other telltale signs include a mid tier car but with an expensive old number plate (single or double digit) which shows that the person is from an old rich family.

Does not like to show off. Very low profile about his life or where he lives. Also will try to not show off his watch and downplays it when friends notice his expensive watch.

Poor people would buy a car on 7-10 year loan and would usually buy entry level cars from Mercedes, BMW. A-class and 1-series are cars of choice for posers.

Poor people also wear designer labels on the outside and make sure people notice their fake watch or entry level watch. Rich people will go for the mid tier pricing for any luxury watch brands they buy into. The expensive upper tier of a luxury brand is reserved for posers whom saved up for a decade or more to afford it but after that, cannot afford to service the watch as it costs 4-5 digits to repair it every 3-5 years.

Poor people drink at bars and clubs where overpriced drinks are being sold. Rich people drink at home in their mini bar away from the noise and bar plebeians.

Anything else that I missed out? Looking at my list, I think I am more poor than rich.

rich is subjective

and rich got different levels (millionaire, decamillionaire, pentamillionaire) and amongst these millionaires not all are cash rich, some on paper, some on asset , some mix of both . and high assets individual not all have high income revenue stream

different level of rich got different type of people

usually u see those humble rich, they are more likely to be millionaire next door type. usually inherit lands/property or purchase land/property when they were younger n by the time they are retired their assets multiplied so much yet they still have do not find the need to indulge in luxury or live atas lifestyle. Normally their children will end up as developer that drive flashy cars and also open alot businesses (most will close after few years)

and not everyone driving luxury cars are loaded. some are actually spending beyond their means some spending borderline of their means and of course some spend way below their means

Today in Malaysia...

Having networth (I dont mean that million dollar house that the bank own) of a RM1~2million.... is.... nothing. Dont even dare to assume you're rich, or even CLOSE to being in the rich category.

From my observations, those who will have many wants are less happy than those with many needs.

You can tell that a person is wealthy when the person dressed very simple but neat with no visible labels. Only a poor person will show off their designer labels.

A wealthy person spends more on food than on electronics and fashion. Only a poor person would spend their food money on the latest gadgets and handbags.

There are tell tale signs when a person is financially secured - he/she still travels abroad even when the ringgit is tanking, he/she's wallet is stuff full of 100 ringgit notes and only pays with cash all the time.

Other telltale signs include a mid tier car but with an expensive old number plate (single or double digit) which shows that the person is from an old rich family.

Does not like to show off. Very low profile about his life or where he lives. Also will try to not show off his watch and downplays it when friends notice his expensive watch.

Poor people would buy a car on 7-10 year loan and would usually buy entry level cars from Mercedes, BMW. A-class and 1-series are cars of choice for posers.

Poor people also wear designer labels on the outside and make sure people notice their fake watch or entry level watch. Rich people will go for the mid tier pricing for any luxury watch brands they buy into. The expensive upper tier of a luxury brand is reserved for posers whom saved up for a decade or more to afford it but after that, cannot afford to service the watch as it costs 4-5 digits to repair it every 3-5 years.

Poor people drink at bars and clubs where overpriced drinks are being sold. Rich people drink at home in their mini bar away from the noise and bar plebeians.

Anything else that I missed out? Looking at my list, I think I am more poor than rich.

I think another wealthy person criteria is that they are bloody stingy. Stingy in the sense that they will constantly ask for discount no matter what.

I disagree.

Its not about being stingy.

Its about being smart, why pay more when u can pay less?

Being Rich doesnt mean you have to be stupid.

Well, I totally accept your statement being smart rather than "stingy" when one can pay less.

But, do you happen to see or hear any stories of them being rich and not stupid getting real deal at the end of it?

I'm really interested to listen to.

Today in Malaysia...

Having networth (I dont mean that million dollar house that the bank own) of a RM1~2million.... is.... nothing. Dont even dare to assume you're rich, or even CLOSE to being in the rich category.

Ofcourse!

A freind upgraded his 5 series to 7 series cause they are offering RM100k discount for the 100 yr Anniversary celebration.

Ofcourse he dont need/hardly use the car... but hey its a discount! 

Edit : To be serious, I hardly ever pay retail, must got discount baru i consider buying something. I also tend to buy things for future use if there is an attractive enough discount/deal cause I dont want to be stuck/force to get something on retail cause I "need it" urgently.

How long u peasants need to waste time on analyzing how rich people lives?

Why not waste energy/time learn how they got there first?

The most intelligent words told to me was, RM1000 shoes vs RM200 shoes. Both step on shit. Who is happier?