When my son was about 10 he asked me if we were rich. Math and numbers were not (and are not) his thing, so I told him that it depended on what he meant by "rich". We probably were by many peoples standards, and we had enough to buy anything we wanted. But there were 2 things he needed to keep in mind... I said 'anything' and not 'everything' - once you spend a dollar it's gone and you can't spend it on something else. And I am careful about what I 'want' - we can't afford a yacht - but if we don't want one why would we care. That being said, before I retired I bought a Janome 11000SE and a Koala cabinet to fit it... Much better than a yacht although I can't embroider on that one either. (just haven't figured it out yet).
sometimes ridiculous can be filled in surprising ways. A good friend from college always joked that she would be rich when she had a chauffer driven Mercedes. She was rich long before I was because when their car died the most economical replacement they could find was a 20+ year old Mercedes, with about 200,000 miles on it. Since she didn't know how to drive her husband chauffeured her everywhere. She felt rich, while qualifying for food stamps.
It is all in what works for, and is important for, you and your family.