So I started asking myself: what does wealth really mean? Is it just having a certain amount in the bank? Is it living a lavish, Romney-esque lifestyle? Is it having enough to quit your job and live on for the rest of your life—or enough to provide for your family for life, as well?
In my latest Money Crashers article, I explore all these different definitions of wealth in detail. I don't reach any conclusions about which is the "right" way to define wealth, but I do explain why it's important to figure out which definition is the right one for you, personally—because you need to know what your "dream of wealth" looks like before you can figure out how to achieve it.
Here's the scoop: What Does It Mean to Be Rich? – Defining Wealth by Income, Net Worth & Lifestyle