WEALTH 👉 ABILITY
Many people are still confused with the term rich. They feel uncomfortable being said to be pursuing wealth. Although inwardly they feel proud to be said to be rich, they generally dodge because they feel uncomfortable being said to be rich. For them, rich means luxury. They like it but feel bad because our environmental education was like that.
Actually Wealth is the same as the ability to survive the existing lifestyle, without having to work.
Research conducted by Gallup International shows that the average executive in wealthy Asian capitals can survive 90 days of his existing lifestyle if he stops working the next day. After that they have to start selling assets or going into debt.
Rich is relative. Some people feel rich when they have 10 million money, some people feel that they are not rich even though they have 10 billion. According to Forbes magazine, a rich person is someone who has an income of over 1 million dollars per year.
Meanwhile, according to Robert T Kiyosaki who quotes from his teacher Buckminster Fuller that rich is not the amount of your active income, but rich is passive income that is greater than the cost of living. What is meant by passive income or residual income here is income that comes in without having to work. It is the income from assets that we built or our parents built.
In comparison to Mike Tyson, he made 300 million USD while boxing, but he was broke and owed 35 million USD. So actually Tyson is not a rich person. Likewise those who have an annual income of 1000000 USD but expenditures 1.23 million USD / year.
Important questions for you are:
1. If tomorrow you stop working, how long will you be able to survive your current life without having to sell the assets that you have?
2. Then how do we get rich according to Robert T Kiyosaki's version where passive income is greater than the cost of living?
Thank you for reading. Stay safe and Stay Healthy. Health is Wealth.
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