Wealth and Wealthy
What is wealth?
Wealth is what you accumulate, not what you spend.
Wealth is not the same as income. If you make a good income each year and spend it all, you are not getting wealthier. You are just living high.
And whom we can call wealthy?
People who typically follow a lifestyle conducive to accumulating
money over a period of time become wealthy.
People whom I define as being wealthy get much more pleasure from owning substantial amounts of appreciable assets than from displaying a high-consumption lifestyle.
People who try to maximise their non-taxable income compared to taxable income become wealthy.
Happy Investing
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