The Difference between the Rich and the Wealthy
According to Robert Kiyosaki the popular author of the book Rich Dad Poor Dad, the rich always have lots of money to show while the wealthy do not have to worry about money.
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Someone who is rich has the ability to drive a very expensive vehicle, live in a luxurious home, wear the most expensive clothes and eat the best of foods just living life in a large way every day. We see examples of rich people in our society all the time, they are the ones who spend the most at parties, they use the most expensive jewelleries, they travel for vacation almost all the time but there is no strong root for that money and after some time it looks as if the money has disappeared.
In my own area, people begin to ascribe the loss of money of such an individual as a spiritual problem, believing that some misfortune has made him loose his money and technically, he lost his money because he was unable to think like the wealthy instead he was living rich. Haven’t you heard stories of top celebrities that show off their extremely luxurious lifestyle on their Instagram page? The moment their fame goes down, it appears that their fortune also goes down, this is because they have refused to possess the mind the attitude of a wealthy person when the money was flowing in.
The wealth of a man is described by his ability to be able to live a luxurious lifestyle (If he wants) without necessarily working round the clock this means that he has the money to take care of his needs and his household even if he does not work for the rest of his life. Wealth is described by having money work for you instead of working for money, the persons who possess true wealth have made necessary investments and have so much returns coming in for them on a regular basis while they conveniently live the type of lifestyle they desire.
A rich person who lost his job today might fall back to become an average person within the space of few months but a wealthy person even if he lost his job will remain self-sustainable for a life time without any trouble. Most wealthy people do not even lose their jobs, they only choose to retire because they create the jobs.
It's an incredible thing to see on social networks people showing off their luxuries but these same people who are not even remotely wealthy are the promoters of a life they cannot sustain.
Totally according to you, being rich does not necessarily mean wasting money, being rich also implies having the knowledge and intelligence to do nothing and still keep producing. As you say, a business or a job can disappear overnight, but if you are smart and know how to manage your finances you will never be without sustenance.
We don't necessarily have to show others our wealth, perhaps for some being rich means having the latest fashionable shoes, but for others it means being able to eat and have peace of mind for the rest of their lives.
there's some notable disparity between the rich and the wealthy. This difference can even be seen in their attitudes towards life. Wealthy people usually has numerous streams of income, the rich on the other have a more streamlined sources of income, being rich is one step towards getting wealthy.
Having money does not give wealth, learning to manage it, maintain it and reproduce it even if you are not working is what is interesting.
Not everyone develops that capacity, who does, enjoys doing it, producing.
I once read that you measure wealth by how long you can live without working. I think that's a great detail.
Great article! Wealthy people can afford not to work anymore because they have assets that can work for them. Very inspiring!