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what is the difference between rich and wealthy ?

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Betty’s Answer

Chris Rock says it the best. Wealth is not about having a lot of money; it's about having a lot of options. Oprah is rich; Bill Gates is wealthy. In 2018, Oprah's net worth was estimated at $2.9 billion but Bill Gates was $126 billion. At the end of the day, it just depends on what you do with the money.

Bill and Melinda Gates have given $45.5 billion to charitable causes, including the eponymously named Bill & Melinda Gates Foundation, since 1994, CNBC reported, citing the Chronicle of Philanthropy. In 2019, the couple donated $589 million to charity, making them the seventh most philanthropic people last year. Jun 11, 2020
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Cindy’s Answer

I believe the answer to this question varies by person. Here's my version. Rich means that you have money to buy things and not necessarily worry about money. Wealthy means you have an abundance of money to the point you can donate and give it away without affecting your net worth. For example, someone with money in the bank who doesn't live paycheck to paycheck would think they're rich. They have money to buy clothes, a home, food, and other essentials. And, rich people can afford experiences, like trips to visit other places or do excursions. Wealthy people have an over abundance of money and can spend lavishly, with boats, fancy cars, and fancy homes. And yet, someone who is rich would consider themselves rich just because they have a large retirement savings for later. People could say they're rich simply because they have $1,000 saved in the bank and yet wealthy people might consider themselves wealthy only when their savings reaches $1 million. Rich and wealth are relative, but commonly between the two is you have money available to spend. Many people would be satisfied with just being rich, and hide that they're rich, while others believe that wealth must be displayed where everyone knows that they're wealthy (bling and splash!). Sadly, money doesn't make everyone happy and that's why each person must determine whether they're rich or wealthy by their own standard.
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Tiffany’s Answer

In my opinion being rich is short term and being wealthy is longer. Someone that is rich may have a lot of money but not in abundance, whereas someone that is wealthy has a long stream that is usually continuous. Of course this will vary with each person you ask and how they determine things.

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