Net worth is how much you have in cash and other assets to spend today, and if you have more money available to spend today than you need, you are by definition wealthy.įiguring out your net worth is not complicated, although it may take some time. And that's why net worth is a better determiner of wealth than income: your income doesn't say anything about how much money you have available right now, it just says how much money will be coming in on a periodic basis. The one that probably comes closest to the way we think of wealth in the context of being wealthy is this one from : "an abundance or profusion of anything plentiful amount."īeing wealthy boils down to having more money than you need. Wealth has several possible definitions open up your dictionary and you'll probably see at least five or six.
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