Epictetus redefines poverty from a material condition to a psychological one. True poverty is not about the amount we possess but about the gap between what we have and what we want. Someone with modest means who feels content is wealthy, while someone with great possessions who constantly craves more is poor. This insight places control over our sense of abundance in our own hands - we can feel rich by appreciating what we have rather than by constantly acquiring more. It's both liberating and practical, offering a path to satisfaction that doesn't depend on external circumstances.