What does “Wealth” mean to you?
What do you think when you hear that word?
What kind of images are painted in your head?
Do you think of mansions and supercars? Do you think of yachts and champagne?
Defining wealth is quite tricky and possibly it is not what you believe it is. It gets even harder with all the media nowadays highlighting selected aspects of the lives of the wealthy.
But if you wish to get started on your journey to acquiring wealth, you’d better understand what this concept entails.
Let’s discuss this and try to shed some light on it.
Definitions of Wealth – It’s not what you think
As with any term, let’s search for its definition in a dictionary.
Here is what famous money site Investopedia has to say about wealth:
“A measure of the value of all of the assets of worth owned by a person, community, company or country. Wealth is found by taking the total market value of all the physical and intangible assets of the entity and then subtracting all debts.”
This definition focuses on the monetary value of the assets that an individual holds (after subtracting any debt obligations that he might have).