How do you define rich? Is a millionaire a rich person? The answer is, it’s all relative. There’s a saying that, “Most people believe they’re middle class.” You tend to compare yourself to your neighbors. If all your neighbors drive used cars, you’re the rich person because you bought a brand new Toyota. But if all your neighbors drive brand new BMW’s, you feel poor for driving a Toyota.
Others might say that being rich means being able to live without having to work. But in all reality it doesn’t take as much as people believe to not have to work. You can easily cut your expenses tremendously and live off passive income such as investments and rental income. It doesn’t take millions of dollars to not have to work, you just need to spend less than you make. People have a tendency to try and keep up with the Joneses before understanding what it is that really makes them happy in life.
It is impossible to accurately distinguish the rich. But we can measure our wealth by how happy and thankful we are for what we have and our love ones who surrounded us.
Advisory services offered through EWG Elevate, Inc. dba Protection Point Advisors.
This represents a partial list of clients. They have not been compensated and were not selected based on duration, performance, account size.