A term used to describe a persons lifestyle or an international social group of wealthy people who participate in social activities all around the world that are unreachable to ordinary people who don't have private jets.
Man I'd love to have Paris Hilton's jetset life. It must be nice not having to do anything but fly around the world and go to parties.
v: to bounce, leave, peace out
Lisa: Hey, let's wanna go to the lib?
Liz: Yea, let's jetset.