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" rich people by definition spend far less than they earn" This is not necessarily true, and it's certainly not "by definition".

• gnaritas 13y ago
  It's absolutely true, you aren't rich if you spend more than you make, unless of course you're getting pedantic about "earn" but I include wealth and holdings in earnings as well. I didn't mean "earn" in the wage sense, just in the amount of money you make/inherit/whatever regardless of how.
  • sejje 13y ago
    You can be rich if you spend as much as you make. The idea that you have no money in the bank doesn't mean you're not wealthy. Maybe you spend it all on antique Ferraris.
    • gnaritas 13y ago
      That's not spending, that's investing, you still have the wealth; you can resell those antique Ferraris. Money is not wealth, it's a medium of exchange, assets are wealth and converting money into assets isn't spending, it's wise money management.