RICH VS WEALTHY
It’s a popular connotation that we keep hearing since childhood. “I WANT TO BE RICH”. Who doesn’t want to? Or do you want to be WEALTHY. Confused? Let’s us dwell deeper.
“The Lexicon Webster Dictionary” defines “RICH” as having abundant material possessions; well supplied; abounding; producing abundantly; productive; wealthy. And “WEALTHY” is described as having wealth; affluent; opulent; ample; material possessions in all their variety; “a collective term for riches.” Clearly, the lexicon doesn’t differentiate the two convincingly. Lets us rehash for better understanding.
A rich person is someone who has acquired resource in a short span of time and the resource will be depleted over a period of time as & when it’s used. A wealthy person has accumulated resource.
Imagine if you had an Aladdin’s lantern, and your genie makes you rich. What can you think of? Fancy cars, palatial house, dine in swanky restaurant and visit diverse places. Now your genie is more considerate and he makes you wealthy, what will you ask for now? An upgrade of your previous materials viz., Sea-faced bungalow, Bentley/Ferrari, vacation in Las Vegas/Paris, dinning in Hotel Al-burj, Dubai.
The most important difference between the two is “ SUSTAINABILITY”.
70% of the lottery winner is bankrupt in within few years of winning the lottery. Assume that there are 10 million lotteries floated in the market with the 1st price being USD 1 Million. The probability that you buy the lottery and wins the first price is 1/10 million. After having won the lottery most of us will upgrade our life-style and increase our spending by at least 4 times. Suppose your annual expenditure was $ 25,000 and now $ 1, 00,000. You will deplete the money is approx. 1000000/100000 = 10 years. And the probability to win another lottery of the same amount after 10 years in negligible. You will remain rich for 10 years and then back to square one unless you do a good financial planning. In this case, money came in unexpectedly without having to work for it. In other words, you don’t know a sure short formula to earn $ 1 MN dollar consistently. Or you lack knowledge to do so. Same would be the case if you inherit a huge property from ancestor or you come-up with a break-through innovation.
On the other hand, a wealthy person has the knowledge and ability to produce that amount of money as his wishes to. The knowledge and skill he possesses is infinite. A wealthy person makes money work for him and rich works for money. A wealthy person can make money under any circumstances unlike a rich person. A wealthy person knows how to make money and a rich person only has money. Riches acquired over a period of time makes you wealthy. History is filled with people those who were rich vs those who were wealthy.
The estimated cost of building Taj Mahal was $200,000,000 in today’s currency. Shahjahan, the great emperor went bankrupt after constructing the Taj Mahal. Any guesses whether he was Rich or Wealthy? On the contrary, we have the wealthiest person in world Today, Mr. Carlos Slim. Who would you want to be?
Wisdom combined with knowledge can create wealth for anyone who desires it. The easiest way to become wealthy is to learn everything about wealth-building. Then you can formulate strategies and work with your coach and generate piles of wealth. But acquiring knowledge is pre-requisite for becoming wealthy. Even if you get to become rich, the money will not last forever.
If you are not earning what you desire to earn, you need to learn the basics on investing in the right product/business and once you start generating income you will become rich and if you educate yourself of how to manage your business then you are on your way to become wealthy.
Sounds like a lot of work. But the good news is that someone has already figured out the way to do so. The right business, the right strategy, the right tool, the right coach, the right knowledge and more importantly the right investment are all in one place. Luckily, I happen to stumble-upon before you. Hence, sharing my knowledge to ensure you are on the right path to success. Click on the below link to start the journey. Believe me I’m not sharing the knowledge because I care for you. But I care for myself. My mission is to show you the path and I have done that. Are you ready to choose the path to prosperity?
“Give a man a fish and you feed him for a day. Teach a man to fish and you feed him for a lifetime”
Happy Learning..
No comments:
Post a Comment