Rich Vs Wealthy
"All riches have their origin in the mind. Wealth is in ideas - not money" ~ Robert Collier
Many people have it twisted that being rich is the same as being wealthy. You can be rich but not wealthy, but wealth can very well incorporate riches.
The main difference between being rich and being wealthy is knowledge.
- Wealthy people know how to make money while rich people only have money.
- Rich people are motivated by money but wealthy people are motivated by their dreams, purposes and passions.
- Most rich people make a lot of money with their paychecks but the moment they stop working, they also stop making money.
- Most rich people have to be there to make money but the wealthy make their money even when they are sleeping.
- Wealthy people build sustainable wealth that can last for years through asset investments producing multiple streams of income.
- Rich people, on the other hand, may get money in an instant such as inheritance or winning a lottery. However, because of lack of proper money management skills, all of it can be lost in a short period of time. That’s why most people who win high value money at the lottery misuse it within a very short period of time.
So what am I saying?
It is good to be rich, but let your riches grow into wealth gradually and systematically through investments and sound money management habits until you no longer depend on your pay cheque to live; i.e. your life and lifestyle can still go on even if you don’t have a job.
Choose wealth, not riches. Riches are short-term, wealth is longterm.