Wealth Building - How Rich is Rich?

It’s actually quite hard to define in a dollar amount what rich is.

We often say so-and-so is rich because he or she has a high-income corporate job, buys brand new luxurious cars, dresses in fancy clothes and so on.

Although these are outward demonstrations of ‘rich’, crucially, that does not mean these people are wealthy (they might very well be of course but it’s not a given).

It’s actually quite hard to define in a dollar amount what rich is. It can be subjective and mean different things to different people. In addition, it can depend on where you live and the cost of living in that place. In 2003 Gallup poll of Americans the public's median definition of "rich" was an income of $120,000 - or assets of $1 million. But if you ask someone who already has $1 in assets they are likely to say being rich would be to have $5 or $10 million in assets. Some people are never happy!?

If you are rich, don’t be fooled into thinking you’re wealthy. If you’re not already rich, don’t worry about it, focus on being wealthy and you will be rich anyway. Whilst it may be difficult to know if you are truly “rich”, you’ll definitely know if you’re truly wealthy and for how long!

Discover some fast wealth building strategies and tips at www.MillioniareMindsetSecrets.com

To the Readers: How rich is rich for you? - share your personal view in the comments bellow : )

Wealth Building - Is “Rich” a Feeling?

Feeling rich is completely subjective.

In a way being rich is a feeling and you probably never think you’re truly rich or as rich as you could be.

Someone making $30,000 per annum will probably say that if they made an income of $100,000 they would see themselves as ‘rich’. How someone defines rich depends on their expectations and how they feel about it.

So the less money you have, the less money you think you'll need to become rich. And the wealthier you are I suspect the more money it takes to make you ‘feel’ rich. This is why very often the "rich" aren't feeling so rich.

As Mark Victor Hansen famously says: "The feeling of rich makes you rich. The feeling of poor makes you poor." It's is not the vice verse!

Discover some fast wealth building strategies and tips atwww.MillioniareMindsetSecrets.com

To the readers: Do you feel rich? If not, what do you need in order to feel rich? (share in the comments below)

Wealth Building - Better to Be Wealthy Than Rich

If you are a millionaire, are you by default wealthy?

If you strive to build wealth rather than just get rich you’re basically giving yourself the keys to the vault!

There’s a massive difference between being wealthy and being rich. Not all rich people can be wealthy but all wealthy people can be rich. Confused!?...let me explain.

If you are a millionaire, are you by default wealthy?... Ahmm, not necessarily so.

A millionaire by definition is someone whose net worth (asset value minus debt) exceeds a millionaire dollars/euros etc. However, if a person did have 1 million in assets but theses assets were not generating income then that person by my definition is rich but not wealthy.

These questions explain will help you get a better understanding of wealth and what is the difference between rich and wealthy - have a guess and let me know what do you thinks on each of them in the comments area below.

I will talk more on each of them in my next posts.

• Why Making Money Won’t Make You Rich?
• How Rich is Rich?
• Is “Rich” a Feeling?
• How to Best Measure Wealth?

Strive to build wealth rather than focus on being rich. You can build wealth by starting or running a profitable business, investing in real estate, etc. The key thing is to focus on generating future income from these assets. Now you are creating wealth. Discover some fast wealth building strategies and tips atwww.MillionaireMindsetSecrets.com