Rich vs Wealthy: How Are They Different?
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Being rich and being wealthy are two different things. Yes, a wealthy person can be rich, and a rich person can be wealthy
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Rich is an adjective we use to describe how much money you are bringing in via your income.
What Does It Mean to be Rich?
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An athlete making over a million dollars a year is considered rich. They would be regarded as some of the richest people in America.
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Being wealthy is about having the money to cover your expenses and being able to have the freedom to do as you like.
What Does Being Wealthy Mean?
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The wealthy people work on using their money to accumulate assets that can produce wealth for them. It is not about spending the money; it is about accumulating assets.
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Most Wealthy people have a few traits
– Buy Income producing assets
– Own their own time
– Can do what they like
– Spend less than they earn
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Here are 5 steps to lead you to your path of wealth.
The Path to Wealth:
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Saving 20-50% of this income is a sure-fire way to become wealthy.
Step 1: Save More than you Earn
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Investing is key to producing necessary income to achieve financial freedom
Step 2: Invest Your Money
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Swipe up to learn more about the differences of Rich vs Wealthy
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