Rich or Wealthy? Which would you rather be? What is the difference you may ask?
Being rich and being wealthy seems to be synonymous as both involve having plenty of money. However, there’s a big difference between the two. The main difference between being rich and being wealthy is knowledge. Wealthy people know how to make money while rich people only have money. The rich often spend money trying to look richer than they are and the wealthy use money to make more money.
How can wealth be determined? There is a simple way to determine your wealth, for example, let’s assume you have monthly expenses of $1000 per month and you have $5000 then you could say that you have enough wealth for 5 months. After that, you will be broke and you would need to find some way of making money. If you were sure that you only ever needed $1000 per month for the rest of your life and your current age was 50 years, and you had at least $600,000 you could assume that you would have sufficient to live happily for the rest of your assumed life to 100 years.
However the cost of living continues to rise, inflation eats away at the money we have and we actually need much more money than we think just to survive. How could we possibly become wealthy, when we are often struggling to pay our monthly bills and live? Could $1000 change our lives?
Take $1000 and invest it into the Royal Investor Club and you will receive a profit of 10% per month, after 6 months you will have a total of $1500. If you re-invested that $1500 and then continued to re-invest your profits for 3 years you would have accumulated more than $13500. Starting with $500 would just mean a few extra months to this scenario.
This begins to give you some real options that will make a difference in your financial future. It could be time to consider becoming a member of the Royal Investor Club
The choice is yours and your future self will thank you for the decision you make today.