Wealth vs Money
Wealth vs Money
By Max Price
Wealth is comprised not only of money, but of 3 things:
Meaningful relationships and family Health / Fitness Freedom
There are people with tens of millions of dollars who are not wealthy, because they are depressed and miserable. They could be rich but have wasted their health, their relationships or given up their freedom.
Having money only increases your wealth if you use the money wisely to obtain the other parts of the wealth equation: health and meaningful relationships.
But if you have money, it makes obtaining those things exponentially easier, which is why it’s not a bad place to start.
How to get rich: A look at conventional wisdom
Conventional wisdom says to get good grades, go to a good school, get a job, and get promotions and one day you’ll be successful.
However, what they don’t tell you is that vast majority of people who follow this advice never end up becoming rich or even close, instead they reach their salary cap of $80k or worse, they end up living paycheck to paycheck.
Some of the problems of the conventional wisdom include:
Most companies will not keep raising your salary in proportion to your work output. Even if your work output is 5x of others in the workplace, you may still not even be able to receive 200% of your current salary.
You can not reliably work more hours than a certain maximum per week. If you raise your hours to make overtime, you will have to make sacrifices in other areas of your life, and risk burning out as well.
You’re at the mercy of your boss, the economy, the stock market, etc. and will have to face the risk of getting laid off or your skillset becoming obsolete in the future.
Instead what you can do is “retire when you’re still young” and plan out to do your bucket list items while your body is still energetic and can enjoy the experience.
Becoming a millionaire
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