What is ‘Rich’?

When ‘wealth’ is a moveable feast, marketing to the well-off can be tricky

When you hear ‘rich’ what image comes to mind? A grand mansion, a fleet of luxury cars, a bulging bank balance? It’s tempting to assume that ‘rich’ simply means someone has lots of money. But real life rarely lines up so neatly. Some people are ‘rich’ on paper, with valuable homes, investments or other assets, yet they still feel financially squeezed. Others may draw a high annual income and yet constantly worry about expenses, inflation, or unexpected bills.

The core truth is this: Wealth is not one-dimensional, and for marketeers, it’s vital to understand how your audience defines ‘rich’, because what you assume means rich may not match their reality.

Asset rich, cash poor

Wealth can take different forms. One person might be ‘income-rich’ - they draw a big salary, get handsome bonuses, or have high cash inflows. Another may be ‘asset-rich’ - owning a valuable home, property, investments or other holdings. But here’s the catch, owning high-value assets often doesn’t translate into also having piles of cash.

For example, a rising property valuation may make someone appear wealthy on paper, but that value is often illiquid. Maintenance costs, taxes, mortgages - or a levy like the new ‘mansion tax’ - can strain real finances. Owning a ‘luxury home’ doesn’t automatically mean the homeowner can spend freely or feels financially secure.

Additionally, what counts as ‘rich’ changes over time. Something that bought comfort decades ago may now feel modest or even stretched. Take a simple benchmark: £100 in 1980 has the same purchasing power as £548 in 2025. Put another way: What might have been a well-to-do income in 1980 might be barely enough for a middle-income lifestyle today. Inflation, rising costs of living, and shifting expectations steadily erode the meaning of wealth.

Perception is everything: Feeling rich vs. being rich

Much of feeling wealthy is psychological. Someone with a high income might still feel pinched if lifestyle costs, debt, or aspirations are high. On the flip side, a person with moderate income but modest expectations, low debt, and minimal expenses may feel financially comfortable, or even affluent.

For many, being rich is less about raw figures and more about financial freedom, flexibility, and peace of mind - the ability to handle unexpected costs, to save, to spend when desired, to plan for the future, to feel secure. That feeling often matters more than property valuations or gross income.

Why this matters for marketing & audience understanding

As a marketeer, assuming someone is rich based on simple outward signals can lead you astray.

• You might target homeowners in expensive postcodes with luxury goods, but many may be asset rich and cash poor, cautious with disposable income, or focused on everyday budgets rather than indulgence.

• You may assume high earners are eager to splurge, but they might actually feel financially stretched if their expenses, debt or aspirations are high.

• Conversely, people with moderate incomes but frugal habits, minimal debt, and low living costs may have substantial disposable income and may respond better to value-oriented messages than luxury-positioning.

  
  

Understanding how your audience perceives wealth - their real or felt liquidity, security, priorities - can help you tailor messaging more precisely. Maybe the right pitch isn’t “luxury and status,” but “value, stability, and ease.” Or perhaps it’s “smart investment, long-term peace of mind.”

How to get inside the mind of “rich” for your audience

Rather than relying on external indicators, successful marketing begins with empathy and research:

• Seek real data: Don’t just rely on postcodes or property values. Consider income, debt, expenses, liquidity, financial pressure, lifestyle costs.

• Use qualitative insight: Interviews, surveys, personas. Discover how people feel about their wealth. Do they see themselves as comfortable? Worried? Just getting by? Aspirational?

• Understand context: Inflation, housing market changes, regional cost-of-living, family commitments – they all influence how ‘rich’ feels today.

• Segment thoughtfully: Instead of broad ‘high net worth’ audiences, break them down into more meaningful segments – for instance; “cash-rich & liquid,” “asset-rich but fixed-income / pensioner,” “high earner but high expenses,” etc.

Craft messages that resonate with your target market's reality. Whether that means highlighting affordability, flexibility, convenience, security, or aspirational comfort.

Final word

Being ‘rich’ is not a universal constant. It’s a shifting, personal concept that’s defined by assets, income, cash flow, inflation, and most importantly, perception.

For marketeers, assuming richness based on surface signals can often miss the mark. Real success comes from understanding how your audience sees themselves - their financial comfort, their worries, their goals. By recognising the many faces of ‘rich’ you can frame your products or services in ways that truly resonate, with empathy, nuance, and authenticity.

At the end of the day, ‘rich’ isn’t just about the money. It’s about how secure, flexible, and free someone feels with it.

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