The Definition of Wealth

What is the true definition of wealth? Some would say it’s the amount of money you have in your bank account, how much you have in stocks, or how many Bitcoins you have. Some people think it’s a matter of how many luxuries you own. Do you have 5 mansions and a jet? 10 Ferraris and a Lamborghini?

The way I define wealth is by looking at how much effort an individual has to put in to maintain their lifestyle. You may own 10 Ferraris and a Lambo, but if you’re working 100 hours a week at a stressful job, are you really wealthy? If you stopped working today, could you maintain that lifestyle?

Income from a job or self employed business and net assets don’t define wealth. Wealth is receiving passive income. You get a check whether you get out of bed or not. You get paid to live the way you want no matter what happens. This is wealth. Focus on acquiring more assets that produce income. You’ll be able to live the life you want without worrying about losing it all.

Looking forward to the future, the possibilities are endless.

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