Many argue the difference between rich and wealthy is sustainability. But what is sustainability in the context of wealth? It can be considered as the ability to maintain a certain level of affluence and riches.
The contrast between rich and wealthy is greater than first expected. “The rich” are perhaps those who splurge on luxuries, trends and travelling – the newest and the most exclusive is their key to feeling successful and accomplished. There is no issue in wanting to be present in the lap of luxury, but what are the consequences?
True wealth on the other hand rests on sustainability that stretches from the present into the future. It may not be as lavish or exciting and people might not know off the bat that you are wealthy but living comfortably and stress-free in the future with your family trumps the trends of today that come and go in the span of a month.
Understanding the difference between “the rich” and “the wealthy” is a great foundation. However, knowing how to become “the wealthy” instead of “the rich” unlocks a new future. The key to the door? The ability to plan for that future.
At this point, you might be breaking a sweat, sitting at the edge of your seat, waiting in suspense for the step-by-step plan for your future… Unfortunately, not. Everyone’s future is immensely complex and unique, and everyone will be walking their own path to a future of sustainability.
However, the tools to pave your path lie at JWR where we have a team of young financial advisors who understand the unique goals, needs and financial circumstances you are in. We are here to walk with you on your journey to wealth, implementing strategic financial goals along the way.
Are you ready to take your first step on the path to wealth?
This article is a general information sheet and should not be used or relied on as professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact your specialist adviser for specific and detailed advice. Errors and omissions excepted. (E&OE)