The Difference Between Being Super Rich and Wealthy…
Would you like to be super rich, or merely wealthy?
What do those terms mean anyway? Does being Rich, and/or Wealthy both mean the same thing?
Well, Internet searches are for the layman…for the idle observer – but there’s a world of difference between being Rich (or even Super Rich) and being Wealthy.
You see, being Rich and being Wealthy are not quite the same … and the only people who know are the ones who’ve made it there.
And that makes a world of difference.
Being Rich
You can get rich by working in a well-paying job, or working as a top-notch salesman, or working in the movies or being a top athlete. However, regardless of how much you get paid per hour of your work, the 3 big limits of Active Income hold you down. (Also see article on Active Income vs Passive Income)
But to be WEALTHY, you HAVE to be making Your-Money-WORK-FOR-You!! None of the limits apply to you.
If you do not understand what that means, do check out one of my old videos right here.
Rich people go to work for money. Actually even the poor and the middle class do the same. The only difference is that the rich get paid more for their work than the rest of us.
Being Wealthy..
The Wealthy have their money go to work for them.
In reality, there are other ways to get wealthy too. If you’re an inventor, or a singer, for example, you can make royalties from your product if it becomes a hit.
You are wealthy because the 3 limits of Active Income do not apply to you.
So, if your household expenses are – let’s say – $2000 a month, and you get paid $10,000 a month, well you could say that you’re richer than someone who makes $8000 and has expenses of $2000. [Monthly household expenses is the key here. If you make $20,000 a month and your expenses are $21,000 then you’re not rich; and allow me to say that nobody can help you]
However, if your household expenses are – let’s say – $2000 a month, and the royalties from your hit single are $3000 a month, you can safely say that you’re wealthy.
Same is the case if your patented product brings in $3000 of royalty commissions a month, or your dividends from your stock bring in more than $2000 a month, or the rent from your apartment complex is in excess of $2000 a month.
You see, being Wealthy is all about the How and not about the How Much. If your METHOD of making money is inherently wealth-generating it does not matter if you make lowly profits to start with. The income stream survives on its own, and your additional efforts just go to grow the monthly income figure thus making you wealthy over time.
However if you are merely Rich (or Super Rich), you’re replacing (or sustaining) your income every day that you go to work, and the day that you stop that you fall into a ditch. That’s how well-known celebs of yesterday go bankrupt today with such frightening frequency. There comes a time, when they can’t keep up. And their lifestyle eats up all of their money in a relatively short while.
So the moral of the story is that whatever you do for money should be in an area that allows you to have REAL Wealth, and not merely a lot of money. You can start small, and grow it over time, so that it goes to work for you and does not fade away over time. ‘