Most of the time, when we thought of being wealthy, we relate it to making lots of money. But if you think about it, wouldn’t you agree that a rich person may not necessarily be wealthy?
That is because wealth is not measured by how much you have, but rather how long you can live the lifestyle you wanted without working. Thus, it is not how much you earn, but what you do with the income that will makes a difference in your wealth.
Taking one step further, when your income exceeds your expenses, even if you do not work, then you’re financially free. The best thing is… you do not need to be a millionaire to achieve that status where lots of people strives for.
Whew…A breath of fresh air!
However, if you’re not making your money work for you now, then you’re not creating wealth, let alone achieving financially freedom. But, by knowing and understanding just that, and taking appropriate actions, you’re moving one step closer to your financial success.
By the way, I have to admit that I’m not very intelligent financially, and I previously don’t even keep track of my income and expenses. Big mistake! But it’s never too late to start learning and to build and accumulate wealth. My current portfolio is in unit trusts, which depends on the performance of the fund manager. However, it is always good to be in control, thus it is necessary from my point of view to learn about trading and investment.
This coming Thursday evening till Sunday, I will be attending Adam Khoo’s Wealth Academy course to learn more about investment and wealth creation. It is going to be a tiring 4 days as the course may end as late as 12 midnight, even later… But I know it’s worth it.
So, I’m doing something now to create my wealth, what are you doing now to build yours?
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Hi Vern
Timothy Ferris explains this incredibly well in his book “The 4 Hour Workweek.”
It is pressure from society that drives us to earn the money to live in a nice house, drive a nice car, have the share and property portfolio, etc.
And only then can we retire and enjoy it… the trouble is we are too old to enjoy it by then.
Timothy has a very creative and simple solution… go read the book.
Cheers
Ian McConnell
http://Ian-McConnell.com/
Ian,
Interestingly, I just bought this book yesterday and had started on the first few chapters. Which also led me to write this post, and got you to comment on his book! Talk about coincidence!
Yes, it is really an insightful book that sort of gives a new light on the term “New Rich” which I happen to notice for the first time this term in one of the newspaper advertisements this morning.