I am sure most of you have read or heard about the importance of building wealth. In the past year, this has been a topic that everybody likes to talk about. Almost all the advice I see on building wealth is centered around the stock market. This is NOT the only way to build generational wealth. We will definitely talk a lot about the stock market in this community. However, we will also discuss the dozens of other ways you can build wealth that will set you and your family up for long-term success.
Today, let us talk about the difference between being rich and being wealthy. When we think of someone who is rich, we think of someone who has a lot of money. We typically know these people have a lot of money because they like to show off their big houses and their luxury vehicles. They like to be flashy with the finer things in life.
People who are rich can gain money in various ways. They can gain it by becoming an athlete or entertainer and signing a multi-million-dollar contract. They can win the lottery. They can inherit their money. They can also build up their savings over the course of a few decades.
So, what really is the difference between being rich and being wealthy? The main difference is wealth is sustainable for years and generations to come. We have seen so many times when professional athletes sign multi-million-dollar contracts and for a period they are at the top of the world. They can afford to buy anything their heart desires. Then one day they do not have any money left.
The goal of the POWERUP community is to give you the knowledge and tools to build generational wealth. We do not want you too just be rich. Being rich is fleeting, but being wealthy is long-term.