The Collaborative International Dictionary of English v.0.48:

better-off \better-off\ adj.
   1. being in a more prosperous condition. better-off than his
      classmate [Narrower terms: rich (vs. poor)] WordNet 1.5]

   2. in a more fortunate condition. she would have been better
      off if she had stuck to her Bible

   Syn: better off.
        [WordNet 1.5]