What is different between rich people and wealthy people? If you have 1 million in your bank account, you are a rich. In Australia if you have $ 250.000 , you are already top 1% rich people.
Rich is subjective perspective, for me if you have $100.000 you are rich, but if you compare to Jeff Bezos (founder of Amazon) or Bill Gates (founder of Microsoft), they are not say you are rich. It is just simply because of they are billionaire, and that amount is not big for them.
You can be lucky and get $1 million dollar lottery grand prize and become rich in one night. Rich is amount and rich does not mean you are wealthy, but wealthy mean that you are rich.
Wealthy is the condition where you can live well, when you are stop working. if your monthly expense $10.000 and your passive income is $15.000, you are wealthy. Even you don’t do anything, your asset will generate income for you.
Wealthy is a perfect condition for us, it can give us freedom. Freedom is expensive, because we are live in limited time. If you have to work for 50 years and become rich, you also lose your time for 50 years. it is not a good trade, you have money but you can not enjoy it, you do not have the same energy when you are young.
if you like my content, you can support me by donate here