Hey Invest Divas and Invest Divos! Today, we’re delving into a topic that might seem straightforward but is often misunderstood: “why rich and wealthy are not the same.”
You see, being rich and being wealthy are two completely different ball games, and I’m here to break it down for you. Plus, I’ve got some fantastic insights on how you can start building generational wealth. Intrigued? Keep on reading!
So, what’s the deal with being rich versus being wealthy? Well, let’s start by debunking a common misconception: having a big bank account doesn’t necessarily mean you’re truly wealthy.
Wealth goes beyond the material possessions that we often associate with being rich. It’s about creating a solid foundation for your financial future.
The Surprising Truth About Rich People
Even high-earning professionals like lawyers and doctors can find themselves in a tricky financial situation. Shocking, right?
A couple of years ago I was standing in line to accept my 2 Comma Club Award that Russell Brunson from Clickfunnels gives to people who have generated at least 1 million dollars in their business. I totally expected million-dollar earners receiving these awards to be living the dream.
However, the person behind me shattered that illusion by revealing that they were having to file for bankruptcy. Now I know that’s because if you don’t know how to manage $100, there is no way you’ll know how to manage a million dollars.
It’s a clear reminder that financial literacy matters more than the numbers in your account or the numbers represented by an award as this doesn’t always reveal the hidden truth about someones financial situation.
Mindset Shift: Money’s True Purpose
So, how do middle-class, rich people, and truly wealthy individuals perceive money’s purpose? Here’s the reality: middle-class and rich people often see money as a means to buy stuff – cars, houses, and more liabilities.
Wealthy people on the other hand understand that money’s primary purpose is to be invested wisely. They put their money to work, often in themselves, their businesses, and other ventures like stocks or private equity.
Making Your Money Have Babies
Ever heard of making your money have babies? It’s not as strange as it sounds. This means multiplying your money’s power while you’re out enjoying life.
Imagine your money working tirelessly to generate more money – that’s the essence of wealth-building. It’s not just about making money; it’s about creating a financial legacy that keeps growing.
Debt: The Good, The Bad, The Wealthy
Debt isn’t all bad – at least not when used wisely. Wealthy individuals leverage good debt, which means they use borrowed money to generate even more wealth.
On the flip side, middle-class rich folks often fall into the trap of bad debt, using loans for purchases that don’t contribute to their financial growth.
The Wealth Diva Ecosystem
Here’s where it gets exciting. The Wealth Diva Ecosystem, as I like to call it, comprises four pillars: influence, income, investing, and insurance.
The truly wealthy have a strong foundation in at least two of these pillars – passive income and investments. These pillars work together to create a resilient financial future.
Your Path to True Wealth
If you’re ready to step up your wealth game, it’s time to shift your focus. It’s not just about chasing cash flow; it’s about making your money work for you.
If you’re intrigued and want to dive deeper into building your Wealth Diva Ecosystem, join our upcoming Build More Wealth live virtual event by clicking here.
VIP tickets are the pick of the bunch as this gets you in the live virtual room with me for an extra hour compared to a general admission ticket. If you’ve always wanted to experience my coaching and ask me questions, now is your chance!
Conclusion: Remember the Essence
As we wrap up, always keep in mind that the purpose of money is not to come and go but to work tirelessly for you. Being truly wealthy means having a solid financial plan, investing wisely, and making your money work across generations.
So, here’s to your journey towards building generational wealth!
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I hope you found this post about “why rich and wealthy are not the same” helpful and insightful. What was your greatest aha moment when reading this? Leave me a comment below, I would love to know!
If you’re ready to become a premium investor and you want to learn how to take control of your financial future and make your money work for you, join me and my fellow Invest Divas and Divos in building a brighter financial future today! Our fun loving and supportive community is ready to welcome!