This is the next post in our series exploring money, wealth, status, and prosperity – and the many misconceptions about them. Last post we looked at money. Today let’s investigate what wealth really is.
Wealth can include money (fiat or crypto), real estate, companies, stocks, bonds, and other assets. Being wealthy means having financial strength due to acquiring enough of these items to create security. (Hopefully intergenerational security.)
But for me, none of those things above qualify as true wealth – even if you possess a massive quantity of them – unless they produce more wealth.
Money sitting in a piggybank is simply money (a medium for exchange). Money earning interest is wealth. Real estate that is decreasing in value doesn’t really create more security for you, so it isn’t actually wealth. Real estate that is appreciating in value or providing rental income is real wealth. You become wealthy when you implement ways to leverage your money and investment platforms to produce more money and investment platforms.
If you want an empowering goal to manifest a better life for you and your loved ones, here's the secret: Set up a system so you wake up every morning wealthier than you were when you went to sleep the night before.
Wondering what the difference is between wealth and prosperity? That’s what we’ll explore on the next post. Until then, would love to see your thoughts below.