The other day I overheard a conversation where one man said to another, "There is a huge difference between being rich and being wealthy." The other man agreed.

I was trying to think, which is better? What did they mean?

You can use rich in places where you couldn't use wealthy. For example, if I told you a funny anecdote, you would say "That's rich" but not "That's wealthy."

I think it's a matter of degree. It's the difference between your well-to-do neighbor (rich) and Bill Gates (wealthy).

A rich man buys a property; a wealthy person buys an estate.

A rich person doesn't worry about finances; a wealthy person still feels sorry for the rich man.

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Interesting. You see wealthy as better than rich. Perhaps I am wrong (and Shu as well), but I don't see them in the same way you do.

I agree with Kalleh. If I made a distinction at all it would be the other way round. Some people seeing it one way and some the other seems to me a fair indicator that there is, in fact, no difference.

Wealth may have nothing to do with money, and there are a wealth of reasons why this is so.

F'rinstance: “Books are the treasured wealth of the world and the fit inheritance of generations and nations. Books, the oldest and the best, stand naturally and rightfully on the shelves of every cottage. They have no cause of their own to plead, but while they enlighten and sustain the reader his common sense will not refuse them. Their authors are a natural and irresistible aristocracy in every society, and, more than kings or emperors, exert an influence on mankind.” Thoreau

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Well, if you go there, "rich" also doesn't just have to do with money. I often talk about having a "rich" dialogue or conversation with a colleague, for example.

This is an article for this thread - only they relate income to rich. After reading this article, I can see a difference.

Here the terms are used interchangeably: http://www.youtube.com/watch?v=Pl7BVr36bbs

Ah, love that musical! Yes, you are correct.