There are people who have been talking more about the top 0.01% as opposed to the top 1%. It is mentioned in the mainstream media as well because there has been a divergence. It reminds me of the insider trading story of Rajat Gupta, guy made 2 mil a year from McKinsey but his hedge fund classmates had yachts worth way more and he felt inadequate. All those hedge fund and tech dudes make rich people fall back.
In your opinion what the diffrence between being rich and. Being wealthy
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WaveCapsByOscorp™
2021 Grammy Award Winner
i think wealth occurs when your assets make more money or have more value than your current work/time dedication. like, i could make a good amount a year but if my assets are worth more than what I made and they continue to make money on them, i'd consider that wealth. that's what they mean when they say it's hard for wealthy people to go broke; what they already posses is worth more than what they earn AND it makes money by itself on occasion. you'd have to be diving into your assets and converting them to consider yourself "going broke". along with that, not just material assets, things like companies, etc. those things make their own money even if you're not directly involved
the thread is literally called "In your opinion what the diffrence between being rich and. Being wealthy". not "go look up the definitions of rich and wealthy and then post your findings."
philmonroe
Superstar
Spare me the smilies bytch. I just said there is an actual definition and you like assuming so FOH keep assuming. I just found it weird a nikka would say he don't mind assuming. Who the fukk says that instead of is like to be right. Stupid nikkas I tell ya.
the thread is literally called "In your opinion what the diffrence between being rich and. Being wealthy". not "go look up the definitions of rich and wealthy and then post your findings."
philmonroe
Superstar
Ok broke nikka
Bumblebreh
Collecting honey and money
bingo it is about the individual networth so for me a person who is worth over 25 mill you would be considered wealthy but not super wealthy
And as an example I would say owning original company fortune 500 stock shares
-owning tens or hundreds of properties before the price hike in europe and america
-owning vast acres of farming land that can raise high quality livestock and crops in large numbers
-having over 25% equity in multiple successful tech businesses like instagram or facebook
-owning appreciating assets like multiple vintage supercars.
-A wealthy person can literally take out a mortgage and buy the whole housing project block if the land is very valuable
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If you have $1 million, you're not rich. You're just VERY comfortable.
If you have $25 million, you're rich. You can afford most luxury items but, you can go broke with bad decisions.
If you have $250 million, you're comfortably rich. After this point, you have everything you could want.
If you have $750 million, you're crazy rich. You're past the point of ever going broke.
If you have $1 billion or beyond, you're wealthy. This is enough money to take care of your family for centuries assuming none of your children are morons. Dynasty money. That's the difference. Being rich is just enough for you to enjoy life. Wealth is having enough money to have your family balling for 200 years.
If you have $25 million, you're rich. You can afford most luxury items but, you can go broke with bad decisions.
If you have $250 million, you're comfortably rich. After this point, you have everything you could want.
If you have $750 million, you're crazy rich. You're past the point of ever going broke.
If you have $1 billion or beyond, you're wealthy. This is enough money to take care of your family for centuries assuming none of your children are morons. Dynasty money. That's the difference. Being rich is just enough for you to enjoy life. Wealth is having enough money to have your family balling for 200 years.
Rich = having a lot of money youve earned but you have to keep earning to stay as such
Wealthy = born into money thats been passed down. Rich people work for you.
Wealthy = born into money thats been passed down. Rich people work for you.
Good example. After you have $25 million, you don't ever have to work again as long as you smart with your money
Then that's not wealth. Wealth doesn't die in a generation. Now a rich person could leave their child money/a company and they fukk it up, but again that's not wealth. The Hilton's are example of wealth. Paris Hilton was born rich because her name/family is wealthy. Her children will be born rich, and their children, etc and mainly because the money Conrad Hilton made will be continuously making money.
Wrong.
The Vanderbilts were one of the wealthiest families in the 1800s and 1900s. Up there with the Carnegies, Rockerfellers, Astors, etc. They had wealth. And now, almost all the wealth is gone because the kids were dummies. It’s a common problem. The first generation makes the money. The second generation grows the money. The third and fourth generation blow the money.
http://www.streetdirectory.com/travel_guide/143267/how_to_grow_wealth/rich_or_wealthy.html
The difference between rich and wealthy is very simple. It's knowledge. Wealthy people know how to make money. Rich people only have money. Once you know how to make money, you can build sustainable wealth. The money never stops coming. If you have a reversal of fortune, it's not a big deal. You just make it back.
The Difference Between Being Rich and Being Wealthy | Millionaire Acts
The main difference between being rich and being wealthy is knowledge. Wealthy people know how to make money while rich people only have money. Rich people are motivated by money but wealthy people are motivated by their dreams, purpose and passion. Most rich people make a lot of money with their paychecks but the moment they stop working, they also stop making money.
Being wealthy is defined as that status of an individual’s existing financial resources that supports his or her way of living for a longer duration, even if he or she does not physically work to generate a recurring income.
For example, if a person’s monthly expenses amount to Php 25,000 and he only have Php 100,000 in his savings, his wealth is approximately four months or 120 days. Wealth, therefore, is measured in time, and not in amount of money that you have. It suffices to say that wealth is dependent not only to the amount of income but also to amount of expenses one makes.
Wealthy people can build sustainable wealth that can last for years through asset investments producing multiple streams of income.
Rich people, on the other hand, may get money in an instant such as inheritance or winning a lottery. However, because of lack of proper mindset and poor money management skills, all of it can be lost in a short period of time. It makes sense that if you did not work hard to earn and build it, then it can just easily pass on your hands and splurge it on things which are not important. Some of these people are more commonly known as ‘one day millionaires’. Now they have it, the next time they don’t.
Wealthy and rich people both may experience downfalls and failures in their ventures. However, because wealthy people are knowledgeable when it comes to money matters, they can start all over again and build wealth over time. In contrast, rich people may find it hard to attain what he or she previously has. In essence, wealthy people are financially free while rich people are not.
The difference between rich and wealthy is very simple. It's knowledge. Wealthy people know how to make money. Rich people only have money. Once you know how to make money, you can build sustainable wealth. The money never stops coming. If you have a reversal of fortune, it's not a big deal. You just make it back.
The Difference Between Being Rich and Being Wealthy | Millionaire Acts
The main difference between being rich and being wealthy is knowledge. Wealthy people know how to make money while rich people only have money. Rich people are motivated by money but wealthy people are motivated by their dreams, purpose and passion. Most rich people make a lot of money with their paychecks but the moment they stop working, they also stop making money.
Being wealthy is defined as that status of an individual’s existing financial resources that supports his or her way of living for a longer duration, even if he or she does not physically work to generate a recurring income.
For example, if a person’s monthly expenses amount to Php 25,000 and he only have Php 100,000 in his savings, his wealth is approximately four months or 120 days. Wealth, therefore, is measured in time, and not in amount of money that you have. It suffices to say that wealth is dependent not only to the amount of income but also to amount of expenses one makes.
Wealthy people can build sustainable wealth that can last for years through asset investments producing multiple streams of income.
Rich people, on the other hand, may get money in an instant such as inheritance or winning a lottery. However, because of lack of proper mindset and poor money management skills, all of it can be lost in a short period of time. It makes sense that if you did not work hard to earn and build it, then it can just easily pass on your hands and splurge it on things which are not important. Some of these people are more commonly known as ‘one day millionaires’. Now they have it, the next time they don’t.
Wealthy and rich people both may experience downfalls and failures in their ventures. However, because wealthy people are knowledgeable when it comes to money matters, they can start all over again and build wealth over time. In contrast, rich people may find it hard to attain what he or she previously has. In essence, wealthy people are financially free while rich people are not.