The difference between being wealthy, and being rich
I used to think that I wanted to achieve wealth. I didn’t, I actually wanted to be rich. Differentiating offered perspective, and it assisted in the pursuit of what I really wanted - freedom. And freedom is true wealth.
Here’s the difference as I see it.
Wealth is measured and conscious.
Rich is reckless and blind.
Wealth is freedom. Freedom to travel, from not going to an office, make the decisions you truly value.
Rich is being stuck (attachment to assets, lifestyle, needing the job to fund it all….)
Wealth is beautiful art. To share and enjoy. And feel it.
Rich is NFT’s. Have you seen the bored apes? 🤮 I feel sad.
Wealth is generous. It involves sharing and giving - if you have it, you should give some of it away. Napoleon Hill talked about this 100 years ago, and the Bible probably did too. Whenever that was written.
Rich is greedy. It’s tight and miserly. Rich is so focused on getting and keeping it, it doesn’t think it should share.
Wealth is joyous. If you have wealth you can create and share experiences. This means more joy.
Rich is often miserable. You’re caught up in comparison with others, wanting a bigger boat, scheming into more money. Going to VIP alone then paying to get the pretty things to join you…
Wealth is not flashy. It lives in a nice but not ostentatious house. It drives a Lexus not Ferrari.
Rich is showy and brash. It wears Balenciaga and Versace, and probably can’t really afford it.
Wealth is investing with a view to a future - developing some land into homes, building a company, creating change. It's adding future value.
Rich is arbitrage, getting some money at someone else’s expense. Rich is buying 10 or 100 houses and waiting for the market to lift while not improving anything.
Wealth is humorous and maybe even cheeky. It's fun to be around.
Rich is serious and leaves you feeling a bit dirty afterwards.
Wealth is confident. And assured. And doesn’t shout about it. It will mediate the fight.
Rich is cocky. It's brash. It’ll start a pub brawl for fun.
Wealth is Warren Buffet.
Rich is Andrew Tate.
Cheers,
Josh
"Money has never made man happy, nor will it, there is nothing in its nature to produce happiness. The more of it one has the more one wants."
– Benjamin Franklin
Have you heard of conscious investing? It’s in the intersection of wealth and impact:
Conscious investing marks a gradual shift from mere wealth accumulation to meaningful wealth application. It's about aligning your financial objectives with your values, and applying these to invest in projects and causes for good. Kind of like CSR (Corporate Social Responsibility) for an individual.
In simple terms the approach advocates for directing capital into ventures that not only yield financial returns but also contribute positively to society and the environment. Think renewable energy initiatives, micro-lending, green bonds or investments to revitalise local communities.
Why should you care?
Wealth is spectacularly undistributed - I heard that the richest 8 individuals in the world's wealth doubled in the last 2 years. The top 50 individuals have as much as the bottom 50%. This is simply greed, and I’ll be honest, I’ve felt its pull from time to time.
The antidote? Find a cause you align with that can generate returns. Best of all, your financial strategy becomes an extension of your values, contributing to a legacy that transcends mere wealth. Like climate change initiatives - it won’t change everything overnight, but every little bit helps!
