How many of you know that there is a difference between being Wealthy and being Rich?
It would shock you to know that the understanding you have of one who is Wealthy and one who is Rich, is half true.
Being Wealthy has nothing to do with the salary you earn from your job monthly likewise being Rich.
Being Wealthy has so much to do with the income generated by your Asset Column
Being Rich has so much more to do with the income generated by your Asset Column.
Truth is, being Rich is much more better than being Wealthy, but the starting point is to be Wealthy, then move on to become Rich.
Now you would be asking yourself, when is someone said to be Wealthy and when is someone said to be Rich?
According to R. Buckminster Fuller, "Wealth is a person's ability to survive so many number of days forward- Or, If I stopped working today, how long could I survive?"
Let me use an illustration so that you would understand better
ILLUSTRATION:
As a person, I have an Asset Column, my Asset Column generates an income of $2,000 and my monthly expenses is $2,000 then "I am Wealthy" because the money generated by my Asset Column is able to career for my monthly expenses
As an individual or a Wealthy person, I have an Asset Column, my Asset Column generates an income of $3,000 but my monthly expenses is $2,000, then and only then "am I Rich," by because the money generated by my Asset is more than enough to take care of my monthly expenses and I have some amount left to reinvest into my Asset Column.
These are Assets you can invest in:
1. Shares
2. Bonds
3. Notes(IOUs)
4. Incomes generating real-assets
5. Real Estate
6. Business not your job or profession, because there is difference between a job & a business.
It would shock you to know that the understanding you have of one who is Wealthy and one who is Rich, is half true.
Being Wealthy has nothing to do with the salary you earn from your job monthly likewise being Rich.
Being Wealthy has so much to do with the income generated by your Asset Column
Being Rich has so much more to do with the income generated by your Asset Column.
Truth is, being Rich is much more better than being Wealthy, but the starting point is to be Wealthy, then move on to become Rich.
Now you would be asking yourself, when is someone said to be Wealthy and when is someone said to be Rich?
According to R. Buckminster Fuller, "Wealth is a person's ability to survive so many number of days forward- Or, If I stopped working today, how long could I survive?"
Let me use an illustration so that you would understand better
ILLUSTRATION:
As a person, I have an Asset Column, my Asset Column generates an income of $2,000 and my monthly expenses is $2,000 then "I am Wealthy" because the money generated by my Asset Column is able to career for my monthly expenses
As an individual or a Wealthy person, I have an Asset Column, my Asset Column generates an income of $3,000 but my monthly expenses is $2,000, then and only then "am I Rich," by because the money generated by my Asset is more than enough to take care of my monthly expenses and I have some amount left to reinvest into my Asset Column.
These are Assets you can invest in:
1. Shares
2. Bonds
3. Notes(IOUs)
4. Incomes generating real-assets
5. Real Estate
6. Business not your job or profession, because there is difference between a job & a business.