Being Rich vs Being Wealthy

Wealth is often hidden and not as visible as riches which can be flashy and showy.

In the book “The Millionaire Next Door: The Surprising Secrets of America’s Wealthy”, authors Thomas J. Stanley and William D. Danko reveal that many millionaires live modest lifestyles and don’t flaunt their wealth. They call this “stealth wealth” and it’s a way for millionaires to avoid drawing attention to themselves and their wealth.

The difference between being rich and being wealthy, according to Kiplinger Magazine, is being rich means adding more zeros to your bank account while being wealthy is about living your life with zero regrets and zero jealousy.

In terms of net worth in the US in 2022:

The top 1% had a net worth had of $10,815,000.

The top 2% had a net worth of $2,472,000.

The top 5% had $1,030,000.

The top 10% had $854,900.

Source:
(1) Are You Rich? U.S. Wealth Percentiles Might Provide Answers. https://www.kiplinger.com/personal-finance/605075/are-you-rich.
(2) Being Rich vs. Being Wealthy: What’s the Difference? | Kiplinger. https://www.kiplinger.com/personal-finance/being-rich-vs-being-wealthy-whats-the-difference.
(3)The Millionaire Next Door: The Surprising Secrets of America’s Wealthy ….