QUOTE(seantang @ Apr 29 2009, 09:42 PM)
But alas, it's not up to you to define what rich means.
The dictionary defines rich as 'having a great deal of money'. And instinctively, that's absolutely correct.
People who have a lot of money ie. earn, inherit or are given a lot of money are rich. So what if they spend all of it? They are still rich. If you earn 100K a month, and you spend 100K a month, you're rich. Simply because you are capable of benefiting from 100K of goods & services (ie. value) each month.
People who have little money but save a big proportion of it are not rich. They are poor, and will always be poor because of the simple fact that they have little money. Living within your means is not rich. That's simply thrifty. If you earn 1K a month, but only spend 10 bucks, saving 990, you still only have 990. You're poor. You can take all your 'ultra savings' and you still only buy nothing of any real value.
So, it's not how much you spend or how much you save. It's how much you have (to spend or save).
the definition of rich is subjective actually. to you, 100k could be rich but to other people, it's nothing. you might be earning 5k per month in malaysia, but to a singaporean, you're not rich but to people in ...erm...congo, you are very very rich.
and well, when u are earning 100k per month, maybe you will say u are not rich
so there's no point debating what is rich and what is poor. for me, rich = you have the money to live comfortably by getting the NEEDs and occasionally the WANTs.