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partlycloudy07

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Aug 12, 2020, 11:07 pm

Quote: Originally posted by GiveFive on Aug 10, 2020
I recently read that there is a difference between being rich and being wealthy. Supposedly the difference between the two is as follows;

To rich people, money is a plaything. Rich people to spend a lot of money to show others how rich they are. They show off their new Rolexes, expensive jewelry, houses and cars. They get a certain amount of personal gratification by doing that.

Wealthy people are secure in the knowledge they have a lot of money and tend to not let it be obvious they have it. They care less about what others think of them and more about using their money to determine how they spend their time. To wealthy people the freedom to do what they want, with who they want, for as long as they want to is priceless.

To my way of thinking, I'd rather be wealthy than rich. I know a few rich people, but I cant think of anyone I know that's wealthy. Then again, maybe I do. Maybe because they're very good at not letting me know they have a ton of money, I don't know they it! What say you? G5

wealthy is better .....

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Vergie6

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Aug 13, 2020, 7:23 am

Quote: Originally posted by rcbbuckeye on Aug 12, 2020
I used to read a lot of Zig Zigler when I was selling in my younger days. One thing that he said was "Money isn't the most important thing in life, but it's reasonably close to oxygen on the gotta have it scale".

I suppose a person doesn't have to be "wealthy" to be happy, but if a person's life is in order and priorities are straight, having enough money to do things you want helps. Then a person is rich AND wealthy.

Good thread.

I like Zig Zigler too...read some of his books & I agree with your post rcbbuckeye!

You may want to read some of Suze Orman's books about money also...she's very good!

https://youtu.be/UvM2Cmi-YR

George Micheal is singing in heaven now & the angels are cheering him on!

https://youtu.be/fDxzQJaA228

George & Aretha are still singing in heaven in the link above!
Vergie6

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Aug 13, 2020, 8:18 am

Quote: Originally posted by Vergie6 on Aug 13, 2020
I like Zig Zigler too...read some of his books & I agree with your post rcbbuckeye!

You may want to read some of Suze Orman's books about money also...she's very good!

One thing I like that Suzy Orman says is this.

Happiness is not a luxury...it is a necessity for true wealth.

Look at some of these big lottery winners who think when they won all of that money

how happy they will be and I just read where one just killed a lady in a hotel room.

Now he will spend the rest of his life behind bars or be put to death himself.

Some think being wealthy gives them the right to do anything they want to and everyone

should bow down to them.

When you're unhappy you feel something is missing in your life & that something is a hole

to be filled...Suzy says it's dangerous to be in a state of wanting for it leads to decisions that

are not always for your best interest.

Look at what all is going on in the world now with all of these riots etc.

I could be getting off the subject but anyway Suzy Orman is a genius when it comes to money!

And from reading her books I don't think she ever let her wealth affect her judgement...she loves

to help others by writing her books & being on TV shows etc. and she was not always wealthy.

https://youtu.be/UvM2Cmi-YR

George Micheal is singing in heaven now & the angels are cheering him on!

https://youtu.be/fDxzQJaA228

George & Aretha are still singing in heaven in the link above!
eddessaknight

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Aug 13, 2020, 6:15 pm

"After a certain point, money is meaningless, it ceases to be the goal, the game is what counts."

~Ari Onassis (shipping magnate))
NY10

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Aug 13, 2020, 6:36 pm

There are 4 types of Rich/Wealthy

1/ High net worth individual($1 million+ but less than $5 million in investable liquid asset)

2/ Very high net worth individual($5 million+ but less than $30 million in investable liquid asset)

3/ Ultra high net worth individual($30 million+ but less than $1 billion in investable liquid asset)

4/ Billionaire class(A person with net worth of $1 Billion and up)
Coin Toss

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Aug 13, 2020, 6:39 pm

Everyone should read The Millionaire Next Door

Those who run the lotteries love it when players look for consistency in something that's designed not to have any. So many systems, so many theories, so few jackpot winners.

There is one and only one 'proven' system, and that is to book the action. No matter the game, let the players pick their own losers.
noise-gate

* In hot pursuit of $ *

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Aug 13, 2020, 8:34 pm

The difference between being rich and wealthy

There is a bit more to being rich vs wealthy than how much money you have in your bank account. In fact, it’s possible for someone who makes less than a rich person to actually be wealthier than the rich person with the fancy car and latest fashion designs.

That’s because rich people spend a lot of money, but wealthy people save and invest most of their money. Wealthy people might have a lot of money, but they don’t spend it all in one go. And they certainly don’t use debt unless it’s for a very clear purpose, such as an investment on a house.

Instead, a wealthy person saves as much money as possible and invests it in assets. That might mean buying real estate or investing in the stock market. Regardless of how they invest, wealthy people know that in order to grow their wealth, they need to turn their cash into assets.

Rich vs Wealthy: Key Differences Between The Two

By Moriah Costa.

* Voice of Reason *

* People who say it cannot be done should not interrupt those who are doing it- George Bernard Shaw.
eddessaknight

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Aug 13, 2020, 9:52 pm

" The first wealth is health."

~ Ralph Waldo Emerson
music*

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Aug 14, 2020, 5:19 pm

"It is not the destination that counts but the journey itself that matters." Star Trek Voyager

"When you are young you save wealth for when your health is poorly in your old age." I forgot who said this. I will google it.

"We are all in this together!"
eddessaknight

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Aug 14, 2020, 6:53 pm

Quote: Originally posted by music* on Aug 14, 2020
"It is not the destination that counts but the journey itself that matters." Star Trek Voyager

"When you are young you save wealth for when your health is poorly in your old age." I forgot who said this. I will google it.

Spot on music*

It's really not what you get, but rather what you become - that is the true wealth
music*

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Aug 14, 2020, 7:41 pm

as the old adage says, "Save for a rainy day." I recently heard the advice, "The young have plenty of time left in their lives to earn what they need". The old should think twice before giving to the young what they themselves cannot afford. The old do not have the time to earn back these gifts, loans, etc.

"We are all in this together!"
Trois

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Aug 15, 2020, 4:25 pm

Hello new here,

I agree that health is the number 1 indicator of wealth. But we live in this monetary system in which we need currency to afford the minimal of things such as rent, food, to live conveniently.

I invest much of my money to win lotto but plenty of money is allocated into savings (rainy day), retirement (401k/IRA), stocks, ETFs, etc...

I definitely spend a lot of time learning about holistic health. I practice intermittent fasting, cut down on carb/sugar, do High Intensity Training with weights, meditate, quality sleep etc...

The money I would win from PB, MM, etc....would be a nice cushion for me. I wouldn't need to hold onto a job I hate just so I can afford rent.
Stack47

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Aug 15, 2020, 5:40 pm

Quote: Originally posted by noise-gate on Aug 13, 2020
The difference between being rich and wealthy

There is a bit more to being rich vs wealthy than how much money you have in your bank account. In fact, it’s possible for someone who makes less than a rich person to actually be wealthier than the rich person with the fancy car and latest fashion designs.

That’s because rich people spend a lot of money, but wealthy people save and invest most of their money. Wealthy people might have a lot of money, but they don’t spend it all in one go. And they certainly don’t use debt unless it’s for a very clear purpose, such as an investment on a house.

Instead, a wealthy person saves as much money as possible and invests it in assets. That might mean buying real estate or investing in the stock market. Regardless of how they invest, wealthy people know that in order to grow their wealth, they need to turn their cash into assets.

Rich vs Wealthy: Key Differences Between The Two

By Moriah Costa.

Because "rich" is a synonym of "wealthy" the difference could be just in the minds. BobP mentioned "old money" vs "new found wealth" where there is a big difference, at least to the people with "old money".

"Some people have something to say while other people feel the need to say something"
eddessaknight

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Aug 15, 2020, 5:40 pm

“Like Andrew Carnegie and the Horatio Alger heroes, believes that the finest thing a man can do for society is to accumulate wealth…”
Stack47

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Aug 15, 2020, 5:41 pm

Quote: Originally posted by Trois on Aug 15, 2020
Hello new here,

I agree that health is the number 1 indicator of wealth. But we live in this monetary system in which we need currency to afford the minimal of things such as rent, food, to live conveniently.

I invest much of my money to win lotto but plenty of money is allocated into savings (rainy day), retirement (401k/IRA), stocks, ETFs, etc...

I definitely spend a lot of time learning about holistic health. I practice intermittent fasting, cut down on carb/sugar, do High Intensity Training with weights, meditate, quality sleep etc...

The money I would win from PB, MM, etc....would be a nice cushion for me. I wouldn't need to hold onto a job I hate just so I can afford rent.

Doesn't "early to bed, early to rise make people healthy, wealthy, and wise"?

"Some people have something to say while other people feel the need to say something"