What do you want to do? Do you want to be wealthy or look cool & Rich? Many people in this world who trade their wealth in exchange of high status. Let me explain you how.
See, whenever a typical middle class person get a pay raise, what he does? Well, he lease a new car or go to shopping mall and do a shopping or blow away most of his money behind parties and showing a high status.
In reality, what these people do? Well, they trade their wealth in exchange of high status material possession. This much amount of money could have been used for acquiring assets and build some serious wealth. This much amount of money could be used in growing the existing assets such as a Business.
But unfortunately, people give more importance to showing a high status rather than building some serious wealth. Remember, Your Wealth is not same as that of your Income. If you earn a lot and spend all of that money, you are not wealthy. A wealth or a Net Worth is calculated in terms of how many assets you own. What is the Valuation of those assets?
A Real wealthy people don’t care how they look. They only focus on accumulating wealth. Remember, Wealth has to be accumulated. You can not be wealthy by spending a lot, you can only be wealthy by saving and investing a lot.
I see several people everyday who spend and borrow money to fuel their high status life style but at the end they fail to build serious wealth. The Wealth is not what you spend but it is what you accumulate…!!!
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