Quote:
Originally Posted by troutman
What if instead of accumulating assets, you use your wealth to enjoy the finest food, drinks and entertainments? Is that person not rich?
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Not financially (based on a net-worth definition).
It's not a bad way to live. But if a person living in such a way suddenly became unable to work, they would basically be instantly poor. A high net worth provides a cushion and insurance, which is what makes somebody financially rich.