Is There a Difference Between Being Rich and Being Wealthy?
I have often thought over the past couple of years about the difference between being rich and being wealthy. Is there a difference? If so, what is it? And how do we become wealthy?
It seems to me that there is a big difference between being rich and being wealthy.
When I think about someone who is rich, I think about someone with a lot of money. And I typically think about someone who is quite showy with their money. They drive fancy cars and live in a fancy house. They wear fancy clothes and eat at fancy restaurants.
Rich people come into their money in a number of ways. They may inherit it. They may win the lottery. They may earn it in a few short years as a professional ball player or entertainer. Or they may invent a new mousetrap that is worth millions of dollars. Or they may simply earn it over many years as a professional or a business owner.
But doesn't this also describe a wealthy person? Is there really a difference? I believe there is a major difference between rich and wealthy. The difference is in duration. How long does the money last? Will it be gone once the person's earning power is gone? Will it be passed on to future generations?
What's the Difference Between a Rich Person and a Wealthy Person?
The difference between a wealthy person and someone who is simply rich is that a wealthy person has sustainable wealth. In other words, a wealthy person will always be wealthy, whereas someone who is merely rich will only be so for a short period of time until the money is gone.
Think about people in history who everyone would consider wealthy, and you can begin to see what I mean. The Rockefellers, Carnegies, and Campbells are all wealthy families. Their wealth has lasted multiple generations. Why is this? What makes them so different from the lottery winner or professional athlete who has money for a short time and then it's gone?
Rich v. Wealthy: The Big Difference
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.
Think about Donald Trump. Several years ago, Mr. Trump was deeply in debt. But, oddly, he didn't change his spending habits and didn't go away. Why not? Because Donald Trump understands how to make money. He is a wealthy individual.
Wisdom + Knowledge = Great Wealth
Wisdom and knowledge can create great wealth for anyone who desires it. Last week, a vendor of ours came to me and asked what he could do to create wealth. My immediate response was to learn everything he could about wealth.
Once he has the knowledge, then he can begin formulating a strategy and work with a coach to build the wealth. But the knowledge needs to come first. Otherwise, if we do happen to get rich, the money is not likely to last.
Showing posts with label Rich. Show all posts
Showing posts with label Rich. Show all posts
Wednesday, August 8, 2012
Friday, July 20, 2012
Silver Libertad - Neglected And Undervalued Silver Coin Carries A Rich History
Probably the most underappreciated and ignored silver bullion coins is the Mexican Silver Libertad.
Most coin lovers along with other buyers invest in well-liked bullion coins including the U . S . Silver Eagle or even the Canadian Silver Maple Leaf and so are unaware of the beauty along with valuation on this excellent coin.
I can't imagine one more coin which design boasts from difficult struggled freedom to endlesslove to early quest for civilization much like the silver Libertad actually does!
Prior to diving to the specification of the actual coin, let's check out the unique design.
The opposite side of the coin showcases the particular coat of arms of Mexico, which is a golden Mexican Eagle that's holding a snake in its beak while he is perching on a cactus. The particular eagle is actually flanked by the wreath combined with words and phrases, Estados Unidos Mexicanos, the standard Spanish name for Mexico.
The coat of arms highlighted on the coin is renowned along with symbolic occurred because of the particular achievement of an time tested prediction.
In the days of the Aztec, ahead of the city was started, this particular group started to search the particular Mexican valley spot to reside.
The particular God they patronized revealed for them the fact that they {would understand when they had the correct place whenever they observed an indication. This indicator ended up being a good large eagle, located on a cactus, holding a snake in the beak.
And the Aztec created their particular fantastic city, Tenochitlan, in the precise region exactly where these people noticed The eagle. The region was really any swampy isle, in Lake Texoco.
the location eventually became thus so big as well as regal thatl conquerors coming from Europe whom discovered ended up dazzled because of it.
Tenochitlan became what's right now, modern-day Mexico City.
Currently let's glance at the obverse aspect of the Libertad silver coin.
The actual obverse side of the coin showcases the Angel de la Independencia. She's portrayed as rising in the air across the famous volcanoes of Iztaccihuatl and Popocatepetl.
The particular angel is a symbol of the freedom involving Mexico In the heart of Mexico City presently there stands a well-known column that is a symbol of both triumph and liberty. The actual angel is actually designed after this popular column generally known as Independence Column.
The identities of the volcanos originated from a pair of doomed, mythic Aztec lovers. Unfortunately, these two people became separated and ended up changed from the Gods into a couple of interlocked mountains to ensure finally they might be together perpetuity!
At present minted with the Mexican Central Bank, the silver Libertad is not legal tender and is regarded as a numismatic coin.
What's intriguing , Hugo Salinas, the Mexican billionaire, has been trying for a long time to produce a silver bullion coin legitimate money. His concept is to monetize and publicly distribute a one ounce silver bullion coin : especially the Libertad : combined with the Mexican Peso.
The particular proposition has been launched and passed by the 2009 Mexican legislature but unfortunately rejected from the Mexican Central Bank.
To summarize, I believe the Mexican Silver Libertad, with its fine .999 gold content and also prosperous, historic, style makes a beautiful supplement to any collector's portfolio. It's great for anyone who desires to own a small bit of history.
Most coin lovers along with other buyers invest in well-liked bullion coins including the U . S . Silver Eagle or even the Canadian Silver Maple Leaf and so are unaware of the beauty along with valuation on this excellent coin.
I can't imagine one more coin which design boasts from difficult struggled freedom to endlesslove to early quest for civilization much like the silver Libertad actually does!
Prior to diving to the specification of the actual coin, let's check out the unique design.
The opposite side of the coin showcases the particular coat of arms of Mexico, which is a golden Mexican Eagle that's holding a snake in its beak while he is perching on a cactus. The particular eagle is actually flanked by the wreath combined with words and phrases, Estados Unidos Mexicanos, the standard Spanish name for Mexico.
The coat of arms highlighted on the coin is renowned along with symbolic occurred because of the particular achievement of an time tested prediction.
In the days of the Aztec, ahead of the city was started, this particular group started to search the particular Mexican valley spot to reside.
The particular God they patronized revealed for them the fact that they {would understand when they had the correct place whenever they observed an indication. This indicator ended up being a good large eagle, located on a cactus, holding a snake in the beak.
And the Aztec created their particular fantastic city, Tenochitlan, in the precise region exactly where these people noticed The eagle. The region was really any swampy isle, in Lake Texoco.
the location eventually became thus so big as well as regal thatl conquerors coming from Europe whom discovered ended up dazzled because of it.
Tenochitlan became what's right now, modern-day Mexico City.
Currently let's glance at the obverse aspect of the Libertad silver coin.
The actual obverse side of the coin showcases the Angel de la Independencia. She's portrayed as rising in the air across the famous volcanoes of Iztaccihuatl and Popocatepetl.
The particular angel is a symbol of the freedom involving Mexico In the heart of Mexico City presently there stands a well-known column that is a symbol of both triumph and liberty. The actual angel is actually designed after this popular column generally known as Independence Column.
The identities of the volcanos originated from a pair of doomed, mythic Aztec lovers. Unfortunately, these two people became separated and ended up changed from the Gods into a couple of interlocked mountains to ensure finally they might be together perpetuity!
At present minted with the Mexican Central Bank, the silver Libertad is not legal tender and is regarded as a numismatic coin.
What's intriguing , Hugo Salinas, the Mexican billionaire, has been trying for a long time to produce a silver bullion coin legitimate money. His concept is to monetize and publicly distribute a one ounce silver bullion coin : especially the Libertad : combined with the Mexican Peso.
The particular proposition has been launched and passed by the 2009 Mexican legislature but unfortunately rejected from the Mexican Central Bank.
To summarize, I believe the Mexican Silver Libertad, with its fine .999 gold content and also prosperous, historic, style makes a beautiful supplement to any collector's portfolio. It's great for anyone who desires to own a small bit of history.
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