Meaning of Wealth - Being Wealthy vs. Being Rich

            What is wealth and how does it differ from being rich? Wealth can mean many different. I have written some of them in the last page, but there are more. The main difference between being rich and being wealthy is the knowledge has each one. Wealthy people know how to make money while rich people only have money. Someone weathy supports his or her way of living for a longer duration, even if he or she does not work to generate a recurring income. Wealthy people can achieve lots of money that can last for years through asset investments producing income from different sources. In the other hand, rich people may have money from heritage or winning the lottery. They got the money in a moment and may lost all of them in a moment. Rich people do not know how to manage money as well as wealthy people.

            It is difficult to make money doing “nothing”. As we saw in the book  “Poor dad, rich dad”, you must make your money work for you and distinguish an asset from a liability.  Wealthy people must decide carefully where they are going to invest your money. The best options are long-term deposits, large corporations, and rent houses. You should not invest in things with too much risk of bankrupt or small business, unless you are sure they are going to grow.