Posted on 04/27/2024 2:27:20 PM PDT by Libloather
...compared to the rest of the world, definitely!
Income statement vs. Balance Sheet. Earnings do not equate to wealth.
“Never had big money”
Neither have I’m thankful to have always had just enough.
The Brits obsession with us is bizarre.
It is HOW you spend your “riches” that matters.
Was thinking the same. Income is a very poor metric of “wealth.” There’s a huge difference between someone making a $300,000/year who spends it all and has no savings/investments and someone making a $300,000/year who has $10 million in assets.
Congress has figured that out. :)
I am Elmer J. Fudd, millionaire. I own a mansion and a yacht.
-PJ
Bingo! Paycheck vs Savings.
There is a difference between being “rich” and being “wealthy”. Being rich is having a lot of money (usually from one source, think lottery winners, actors and athletics). Being wealthy is having a lot of money from a lot of different sources, usually investments, owning a business, savings).
Many people can become “rich” but few have the knowledge and skill to become “wealthy”
A lot of rich people do not remain rich once that flow of money stops.
Anyone even if they are not talented or a lottery winner can become “rich” and it is not the amount of money you make either. The secret is don’t spend more then you make, and put away a little for the future and be wise in your investments.
Credit cards are the one way to guarantee you will never be rich (unless you pay them off each month). The interest paid on the monthly balance is the money you could be saving and eventually investing.
- things I have learned over the 70 years on this earth.
😂😂😂👍
Being wealthy has little or nothing to do with income.
Most wealthy people’s net worth is related to assets and capital gains, many of them file 1040s with little or no income.
All sound advice. I view dollars as honey bees. If you take good care for them they can go out and work for you and bring back more honey every day or you can spend them and they never bring back anything.
Wealthy people don't need jobs, they have passive incomes that produce honey every month.
I agree. Wealthy people often work because they enjoy it but the wealthy don’t work to “pay the bills” and can just live off the income stream produced by their wealth. I always equated being wealthy with the ability to increase one’s net worth over time while also living well on passive income.
I am rich in spirit.
“Wealthy people don’t need jobs, they have passive incomes that produce honey every month.”
Good way to say that. Never heard it better.
Rich = Having “F.U.” Money
If that's what it takes to be considered wealthy today, then at 76, almost 77, I'm poverty level.
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