Pegadito is the diminutive form of pegado, which means "stuck" or "close". The -ito suffix adds a sense of smallness, affection, or charm, transforming the meaning to "very close together" or "snuggled up close".
In the song, Camilo sings "es gratis bailar pegadito" (it's free to dance very close together). He uses this sweet, intimate word to illustrate his point that while he may not have material wealth, he can offer a life rich in priceless moments like a slow, close dance.
Who says you need a massive bank account to live the good life? In "Vida De Rico", Colombian pop artist Camilo offers an honest, cheerful promise of love on a budget. Right away, he warns that if your idea of fun means "discotecas, carros y diamantes" (clubs, cars, and diamonds), you might find his lifestyle pretty underwhelming. He admits he cannot afford fancy trips or expensive champagne, but he is quick to pitch what he does have: cold beer on the beach, free slow dances ("es gratis bailar pegadito"), and endless kisses.
The heart of the song is a clever Spanish wordplay on rico. While the title translates to "Rich Life," Camilo flips the word in the chorus: "No es vida de rico, pero se pasa bien rico" (It’s not a rich person's life, but we have a really great time). In Spanish, rico means wealthy, but everyday slang uses it to mean delicious, lovely, or deeply enjoyable. He jokes that if the house cannot afford air conditioning, he will fan you by hand ("te pongo abanico"), and while watching the sunset from his balcony is not quite a trip to Europe, it is close enough for now. It is a humble, sweet celebration of giving someone every little thing you own.