Forbes magazine defined rich as $1 Million or more a year in income.
And if I spend $1M a year on frivolous junk I don't need or want, does that make me rich? There's a huge difference between income & wealth.
If you spend $1M a year on frivolous junk, that is obvious that it won't make you rich.
Instead in order to get rich, you could spend on buying assets that will generate cashflow using vehicles like rental properties for real estate, stocks that pays dividends and businesses.
For the definition of rich according to Forbes magazine, you may want to define it on your own too. Being rich is really relative.
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