Wealthy vs. being Rich

Did you ask yourself onetime why does owning physical items of precious metals interest you? and what does motivate you to put your money down regularly in exchange for small pieces of bullion?

In most of the cases, you see monetary value stored in those items to last for long time and be available to be exchanged for any circulating currency on short notice, in case of need.

When you are clear about your interests and know your motivations, you may consider identifying your objectives from the habit of owning physical assets and, then, choosing precious metals as a widely acceptable medium to store and transfer monetary value.

Choosing physical items of precious metals to own will lead you to ask yourself if by doin this, you are looking to become rich or running to accumulate wealth?

While the question seems to be confusing, it can be answered simply after you rationalize your interests and motivations. You will recognise that skilled knowledge is the key for a reliable way to generate income and mature habit to putaway part of this income in a place where its value can be stored for long time during which you will find yourself accumulating wealth.

On other hand and if your aim is to be rich, there is no doubt that one time you will find the opportunity to have the offered money that will make you rich but you will not enjoy being wealthy as you always relied on looking for a golden chance not a chance to make it golden chance.

Normally the term wealthy is used as an expression of individual’s status who is in possession of financial resources, not sources, that generates regular income to maintain a suitable lifestyle. Such financial resources are found in a form of stock of materials and other physical assets that can be drawn on by an individual in order to generate regular income.

As a general observation, individuals with wealth have the knowledge on how to generate income, preserve value and accumulate wealth, whereas individuals who are looking to become rich may find in their journey of life sources of instantaneous cash but because of their nature and their way of thinking they lack the know how to generate income.

© ISC sarl 2013