What does rich mean ?

To be rich is also to have a lot of money, resources, or assets. Therefore, the difference between the rich and the wealthy is knowledge and wisdom. Rich people are not only rich in money but also rich in spirit.

Wealthy people understand how to make money. So, once you know how to make money, you can create lasting wealth. The money keeps coming. Even if you face a reversal of fortune, it doesn’t matter to you because you know how to regain your future. Another difference between the wealthy is that the rich are motivated by money. In contrast, the wealthy are encouraged to build a legacy and improve the world. It is not easy to identify a rich man by looking at him, unlike a wealthy man.

However, keep in mind that these two words can be used interchangeably in common usage. Various dictionaries define wealth as the same. The Oxford Dictionary defines ‘wealthy and wealthy’ as ‘having plenty of money, resources or assets.’ Therefore, this difference between rich and wealthy is connotative. This meaning should only be applied as per the given context.

Difference Between Rich and Wealthy

Riches: Rich has money, luxuries, resources, or assets.

Wealthy: Wealthy is having money, resources, assets, and knowledge.

Appearance

Wealthy people flaunt their wealth and are easily seen by their appearance.

Wealthy people did not flaunt their wealth and hence were difficult to notice in appearance.

Duration

Wealthy: Being rich is a temporary state.

Riches: Being rich lasts longer.

Motivation

Wealthy: The motivation to be rich is making money.

Wealthy people are driven by their dreams, purpose, and fashion.

Being wealthy is not a question of amount but ratio or percentage, if you will. It is a ratio between what you earn, your income, and what you spend or need to live. And, of course, the income is passive. Income falls from the four pillars, which come from the investments and assets that one owns.

It’s not about working by the sweat of your brow. One cannot work by the sweat on one’s brow throughout one’s life. At some point, the body will let go.

So what we want is to generate alternative income or create alternative income by buying assets. This is what millions of people on earth are doing; even if we are again made to believe that it is not possible in 2022, it is hot and not the right time.

The further you go, the better the time because there is more money, more people, and more technology.

It’s about looking at the ratio, what you need to live, and the money that automatically falls without devoting all your time.

You can earn 10 million $ a year, but if you need 11 million $ to live because you want to buy yourself a private jet, new Gucci shoes, ten supercars, well, you won’t have enough.

Whereas if you just generate 100,000 $ in a completely passive way and you need 50,000 $ to live, you have 50,000 $ of the margin. You can then invest more to have the snowball effect or to consume even more.

So it has nothing to do with how much money you have, and it is a ratio.

Becoming wealthy is not about having crazy numbers, and it’s just a change of mindset that you have to have.

The rich are “salespeople.” If you will, they are traders. Wealthy people, on the other hand, keep their assets forever.

Keeping something long-term increases in value over time, fights inflation, and generates cash flow.

In the very long term, we make fewer mistakes; there are fewer emotions that come into play.

For instance, the first apartment I bought in Paris on which I made a resale purchase was in 2010. I sold it for $235,000 net, taking a significant capital gain.

I believe the capital gain was $235,000, the net seller. And today, the apartment is

worth $335,000. Admittedly, I took a ticket when I sold it, but I would have taken $102,000 more in concrete terms if I had kept it today.

Keep in mind that you will ultimately earn much more if you keep your assets.

The wealthiest people on earth hold on to their assets for decades. Warren Buffet, for example, is hooked on Coca-Cola, and he won’t let go until his death.

So being rich is not a question of amount but of a ratio of what you generate passively.

The difference between the rich and the wealthy is that the rich only sell and find “meat” to resell. And one day, there may be nothing left to sell.

Wealthy people keep their assets to generate cash flow and increase in value.

Today, for example, my real estate, keep it. There is a property that I am seeing to resell a villa at $792,000 net seller.

And if I resell it, it’s to buy another real estate, and it’s not to take it out and do anything with it. But there you go, I have my vision: I keep; I grow, and even my high-dividend shares.

We want to sell you training on trading; the brokers want you to place orders; they only want to earn commissions, so we tell you that it’s complicated, that you have to buy with the idea of ​​reselling afterward.

But the best strategy is to buy and hold. You’re going to beat them in the long run. Watching the best investors in the world is what they do.

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