How Long Can you Be able to Fund Your Life Style?
Just ask yourself this question honsetly. Just imagine that you stop working today. Than in this case, how long you can maintain your current level of life style?
If your answer is – “For the rest of your life” than you are rich and wealthy in true sense. Otherwise you are not wealthy. You can be technically rich because your net worth may be well above $ 1 Million but you are not wealthy because you can not survive and maintain the same level of your life style for years.
The real wealthy people are those who can survive on their current Assets for more than decades if they today stop working. Most of the people you are watching around you who drive luxurious cars, live in expensive homes and wear expensive clothes and watches are not rich in true sense. They just look like wealthy but they are not.
Their luxurious lifestyle is afforded by their high income and not by the income from their Assets (Passive Income). While the life style of a true wealthy people is afforded by their Assets and not by their hard earned money. (Active Income).
Thus, the wealth is considered into time and not in the net worth. If you want to become wealthy than you need to grow your assets in such a size that, the income generated by your assets become much more than your expenses.
Focusing on the Assets to grow them large is the one and only way of becoming wealthy. Focusing on the Income to become rich is not a smart idea.
Just ask yourself this question honsetly. Just imagine that you stop working today. Than in this case, how long you can maintain your current level of life style?
If your answer is – “For the rest of your life” than you are rich and wealthy in true sense. Otherwise you are not wealthy. You can be technically rich because your net worth may be well above $ 1 Million but you are not wealthy because you can not survive and maintain the same level of your life style for years.
The real wealthy people are those who can survive on their current Assets for more than decades if they today stop working. Most of the people you are watching around you who drive luxurious cars, live in expensive homes and wear expensive clothes and watches are not rich in true sense. They just look like wealthy but they are not.
Their luxurious lifestyle is afforded by their high income and not by the income from their Assets (Passive Income). While the life style of a true wealthy people is afforded by their Assets and not by their hard earned money. (Active Income).
Thus, the wealth is considered into time and not in the net worth. If you want to become wealthy than you need to grow your assets in such a size that, the income generated by your assets become much more than your expenses.
Focusing on the Assets to grow them large is the one and only way of becoming wealthy. Focusing on the Income to become rich is not a smart idea.
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