Being rich is simply having a lot of money or income. It comes down to how much cash you have in your bank account, owning an iPhone, Lamborghini, Rolex, etc. Flaunting money is being rich. Everyone likes flaunting their money, right?
Though, there is a difference in being Rich & being Wealthy.
Wealth is not visible.
Wealth is the equity & assets you own which are usually not visible to the world outside.
I simply classify it as follows, Being rich is owing depreciable assets & being wealthy is owing appreciable assets.
If you earn money while sleeping, you’re either already wealthy or on path of becoming one.
To sum this up, let me use an irony… You can be Rich but not Wealthy. But you can be Wealthy & Rich at the same time.