What Is your Financial Goal? To be Rich or Wealthy?

Have you already defined your goals? Where are you going? You thinking about money for today or thinking about creating generational wealth?

The Number One Question

The number one question on most people’s mind is “ How can I improve my financial situation”. Financial freedom can be achieved in different ways based on who you ask. People can get rich through several options. Some may include ; acquiring wealth by inheritance, winning lottery, gifts, working hard to increase the amount of your paycheck, creating your own business or even believing in the power of the universe to attract wealth and so on.

Is being Rich the Same in All Countries

Society in every country or continent if you will, have their own way of defining who is rich. Example; a man who owns one Mercedes Benz and live in his own house somewhere in a large city in Africa or India may be considered “a rich Man”. Take the same lifestyle to describe someone who lives in Germany, that person will be considered as doing “okay” and he or she may end up in the middle class in United States.

Being Rich therefore is influenced by the economy of where one lives and the people's perception. A middle class guy living in Tokyo could instantly be seen as one of the richest people if he relocates to Uruguay or say Ghana. The point I am trying to make here is that, being rich can easily be perceived whereas being wealthy may or may not be perceived by the society depending on the lifestyle of the wealthy individual.

Where do 90% of the people get their Money

Regardless of where you live, most people survive everyday by working for someone else to earn a paycheck. This is not a bad thing as we have to start our careers at a point in the market place and the fastest way to make a living has always proven to be to work with already established companies and organizations.

The problem is most people become comfortable and eventually get wired to accept working for employers as their 'financial Last Stop'. This kind of psychological limitation, has been used against the masses by the few for ages and the technique is still being deployed by the rich and wealthy today. Some folks today have now started figuring out ways to break away from this thinking to pursue their own financial freedom whiles working for the paycheck from their bosses until they become financially successful. In my opinion, this is the best way for everyone. Don't quit your job but use your current employment as an insurance whiles you figure out what you want to build.

What are you building? Riches or Wealth

Wealth and Riches are sometimes used interchangeably but one is better than the other if you ask me. Rich is when one has enough money to spend for a moment in time. If I win 100,000 dollars in lottery, I will instantly become rich. I got the money, Hurray! But wait. If I don't make sure that, this money can keep on generating more money in a sustainable way for me, I may end up spending every penny of it within a year or two. You see, riches can disappear quickly. Now lets look at wealth.

Wealth is when I am able to use this 100,000 dollars and turn it into a money generating machine. I may not be able to show the society that I am rich because most of the money will be locked up in other investments that generate steady stream of income which in the future can accumulate into sustainable riches. Regardless of how little money you have, you may not be rich but you can build wealth with it. Note also, that regardless of how rich you are, you can never become wealthy if you don't find a way to build wealth with it.

How can I build wealth

Building wealth is not achieved overnight unless you inherit it from someone . Unfortunately, everyone is looking to be wealthy but just a few are always looking for ways to make it happen. Over 90% of the population including myself have to find ways and means to build our wealth gradually. Some of the ways I followed were not successful but I kept on pushing. I will talk a little about my journey in future blogs.

One way to build wealth is through investing in the stock market. You don't have to build brick and mortar business, you don't have to hire employees and it does not matter if you have small amount of money. You can build wealth in a very skillful and responsible way. If you want to explore this option, you can head to Givansty Global Education website for more information about starting with as little as $500 to begin creating your wealth today.

Categories: : The Road To Financial Freedom