The new rich is a subculture, ideology or way of living where ‘being rich’ is not defined by your net worth, your assets and your bank accounts but by financial freedom, mobility and free time.
This group holds the believes in living in the moment and that money is something to support your current life and what makes you excited, and thus happy.
This goes against the conventional definition of wealth, but it draws a lot of similarities to how these conventional rich people live.
Reference
Ferriss, Timothy. The 4-Hour Workweek: Escape 9-5, Live Anywhere, and Join the New Rich. Expanded and Updated ed., 1st revised ed, Crown Publishers, 2009.
Highlights or timestamps
The goal is to become a member of the New Rich. The New Rich is a subculture characterized by mobility and financial freedom. They’re tied down by nothing. They decide where they go. They decide what they do. They’ve realized that the right moment to live your dreams, to really live you life, is now.
— ^e94a47 from The 4-Hour Workweek
See, what most people associate with millionaires – extensive travels, extravagant hobbies, maybe a butler – essentially add up to two things: more freedom and more free time. And you can have those things without having millions of dollars in your bank account.
— ^5a95b3 from The 4-Hour Workweek
So wealth equals activities, your ability to do the things you want to do. It’s about freedom and free time – not the amount of money you’ve accrued.
— ^51fc3b from The 4-Hour Workweek
Remember, if you want to live a life of luxury, all you need are two: more freedom and more free time
— ^7aa339 from The 4-Hour Workweek