Myths Between Rich and Wealthy
You can be rich but not wealthy.
As we grown-up, we have heard Rich many times, like some are rich, but we never heard about someone wealthy. But the question is, who is Rich? Anyone can be Rich, those who have a handsome salary, a good car on EMI, a big bungalow, now guess all are liability according to Rich Dad and Poor Dad. You are not Rich, but The Psychology of Money is said this person can be rich but not wealthy. I agree with Morgan Housel; Rich People do not have any intangible assets; who is Wealthy. Wealthy people believe in creating value, which lasts a decade; they always build assets and buy assets.
Here a few excerpts:
- Rich means what you possess at the present moment, but the value will degrade in the future.
- Rich people become poor at any time, but wealthy people never become poor by any short turbulence.
- Rich is tangible while Wealth is intangible; if you are Rich, you can buy anything within seconds,
- Rich, you become overnight, but wealth never generates overnight; it will take decades.
- Rich people can spend their money overnight, but wealthy people do not.
- Rich people only think about today while wealthy people think about a decade.
- Rich people always buy on EMI while Wealthy people have never buy anything on EMI.
- Rich people think Banks are Fool, while wealthy people respect the bank.
- Rich people are short term investors; Wealthy people are long term investors.
Wealth is just consistency… I don’t want to be rich. I want to be wealthy. _Quavo
Conclusion: Earlier this difference was in Rich and Poor now this term has been changed according to time, Current era everyone can be Rich, but not everyone can be wealthy. Everyone is striving for Rich unconsciously; they think they are wealthy; this is a big mistake by our young generation. Thank You for reading!