Originally Posted by Koolau
I pass the test, but wealth is somewhat a state of mind. I feel very wealthy when I see how the 3rd world lives. Not so much when I realize that folks with less actual wealth "live" better than I do. I'm not at all dissatisfied with my life, but once in a while, I resent flying coach (even though I could fly 1st class) because the perceived benefit to me is not worth the extra cost. One would think a wealthy person would fly 1st class, but I don't. It's a personal choice, based on years of LBYM thinking. There are other examples (13+ year old cars instead of new, 1000 sf condo instead of a 2500 sf house, canned-frozen-store brand instead of fresh-organic foods, etc. etc.)
I could "live" as I perceive a wealthy person lives, but my goal is to survive most any foreseeable financial downturn/calamity/set-back and never truly "worry" about such events (though, in all honesty, I occasionally still do.) YMMV
I hear you on the coach/first class thing. I am not wealthy but I could afford an occasional 1st class ticket, but it is the perceived value from it that ever keeps me from doing it. In my mind I see first class as twice as good. But I have never paid for a coach ticket where the first class was only twice the cost of that ticket. Of course I constantly check for air deals and usually get about the cheapest seat on the plane as it would burn me to know someone sitting next to me paid less.