14/02/2021
MONEY CANNOT MAKE YOU RICH!!!
YOHA Property
In this article, I'm going to deal with one of the greatest misconceptions of people about becoming rich.
Money cannot make you rich.
I once knew a man. Once upon a time, they changed his boss in the office. His new boss began to let him handle all the contracts given to their office. Needless to say, he became "very rich". He made a lot of money. That's not wealth, that's money.
Many people do not know the difference between money and wealth. This man began to make a lot of money. He was building houses, buying cars, partying and enjoying the high life. All of a sudden, the company changed his boss. He was no longer in charge of contracts anymore. He became restricted to only salary. He kept spending and spending until he spent himself into debt.
Needless to say, he became poor, helpless and desperate. He became just over broke (borrowing Robert Kiyosaki's words here).
You know why he became poor? He doesn't understand the difference between money and wealth.
What is the difference between money and wealth?
Money is the currency you SPEND. When you have money, you are definitely going to SPEND IT! Even if you save, you will still definitely SPEND that money. You are only delaying the time that you will SPEND the money. Once you spend money, you have lost the money. Therefore, in one way or the other, you will LOSE your money.
What is wealth on the other hand?
Wealth is the financial worth of your assets. How? Let me explain.
Elon Musk is the richest man in the world today. He is worth over $180 billion. But, if you check his bank account, you won't see up to $10 billion. Why? Because all his money is invested in projects that serve human needs.
How does this work? Let's say his company makes only 10% profit per year. That means, while retaining his $180 billion dollars, he will get extra $18 billion to his bank account.
His 10% profit for 50 years will be $900 billion.
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