The Topmost Secret That Differentiates The Rich From The Wealthy

 

The Topmost Secret That Differentiates The Rich From The Wealthy

 

I believe there is a significant distinction between being affluent (rich) and being wealthy.

When I think of rich people, I see someone who has a lot of money. And I usually picture someone who is very obnoxious with their money. They have expensive cars and live in a luxurious home. They dress up and dine in fine establishments.

Rich people acquire their money in a variety of ways. It's possible they'll inherit it. Winning the lottery is also a chance that they have. As a professional ball player or entertainer, they will be able to receive it in a matter of years. Alternatively, they might invent a million-dollar mousetrap. Alternatively, they may simply earn it over a long period of time as a professional or a business owner.

Isn't this just a description of a rich person? Is there a real distinction? I assume there is a significant distinction between rich and affluent and the wealthy people.

The length of time makes all the difference.

How long will the cash last?

Is it going to be gone until the person's earning power has been depleted?

Is it something that will be passed on to future generations?

One of the differences between a rich person and a wealthy person is that the wealth if the wealthy person lasts a long term. In other words, a wealthy person will always be wealthy, while a rich person will only be rich for a short time until the money runs out.

Consider historical figures who were universally regarded as wealthy, and you'll get a sense of what I'm talking about. The Carnegies, the Rockefellers, and the Campbells are all wealthy families. Their wealth has been passed down over the centuries. What is the reason for this? What distinguishes them from a lottery winner or a professional athlete who has money for a brief period of time before it vanishes?

The distinction between rich and wealthy is straightforward. It's all about knowledge (experience). People who are wealthy understand how to make money. The only thing rich people have is money. You will create long-term wealth once you understand how to make money. Money never stops pouring in. It's not a big deal if your fortune turns around. You simply return it.

Consider Donald Trump. Mr. Trump was in serious debt a few years ago. But, strangely, he didn't change his spending habits or disappear. What's to stop him? Since Donald Trump knows how to make money. He is a well-to-do guy.

There are numerous examples throughout history of wealthy people who accumulated their wealth through knowledge and placed a higher value on knowledge than money.

King Solomon, the king of all the Israelites, was probably the most noticeable. He was a multi-billionaire.

He was also incredibly smart. When he first became king, the prophet approached him and inquired about his prayers to God. Solomon had requested wisdom.

Solomon mentions wisdom and knowledge (intelligence) as the two most essential gifts to ask God for in his writings. Solomon's great riches came from his wisdom and intelligence.

Anyone who seeks wisdom and understanding will amass enormous wealth.

Last week, one of our readers approached me and asked what he could do to increase his wealth.

My first reaction was to teach him everything I knew about money. He could start formulating a plan and working with a coach to create wealth once he had the information.

However, information must come first. Otherwise, even though we become wealthy, the wealth is unlikely to last.

I owe a debt of gratitude to my Father, who instilled in me and my siblings an insatiable desire to learn. My Father's greatest gift to me (aside from life itself) was this. 

This insatiable desire for knowledge motivates me to teach others about wealth and how to obtain it.

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