There are definitely different grades to being rich, which also vary with life expectations. If you have a million euros invested and returning 50k a year as "salary", it's quite possible to live fairly comfortably in many European countries. However if you are a high flying executive that has built a career and created expensive tastes, then that kind of money will not stretch very far. The majority of people would be very lucky to hit that kind of wealth though and take a lifetime to put it together. For the average person having a paid off house will reduce the stress in their life and give them freedom to do a lot with their remaining income.
Here I agreed with this theory different grades for being rich it's not applied in Europe It's also applied in many other countries as well but sadly recently things are getting worst in few countries due to climate change and few other things bringing increased problems.
As mentioned 50K is ok if I convert this amount in my country this I am surely going to have luxury life with many facilities and other things which can make me good but its just dream because inflation killing and life getting worst but peoples fighting hard and trying to be had some good.
Corruption free state is always thought about their citizens for their work and life but here It's nothing happening peoples living like animals, but high-profile peoples have no trust because they can go Europe and other countries for their own health problems.