Rich vs. Wealthy vs. Financially Free: What’s the Difference?

Rich means high income.

Well, high income starts, is the driver for everything that you do in your journey to becoming wealthy.

That is why investing in yourself and creating the skills that you need to create the income is the first step to generating any form of wealth.

I want to give you the craziest story.

When I first got into entrepreneurship 14 years ago, I was a banker at Goldman Sachs and I had an opportunity with my partner to invest in a real estate company.

And I knew that investing in that company meant for one, two, three plus years, I probably, I'm not going to get any payout, any salary.

I had to work for free.

But my wife was actually working at that time as a consultant at Deloitte Consulting.

We were expecting our first child.

And so we made a decision.

We made a decision to go from two incomes to one income.

And we said we were gonna live our life on one income until I was more financially stable.

But the crazy part is, We spent the first few years on that one income, on my wife's salary.

And then for the last 14 years, we have frozen our lifestyle to be at that one income.

Our net worth is 50 times more than what it was that day.

But today, we have still frozen our lifestyle on that income.

Why? Because rich is high income.

And high income is entirely based on the surplus.

Because If you make $100,000 and you spend $20,000, then you have $80,000 worth of surplus that you can do something with, that you can invest in a better life, that you can create new skills with.

But if you're making $800,000 but are spending $800,000, it doesn't matter because you have high income.

You have no extra surplus.

Our job is to figure out not just to get high income, but to get the coverage, to get the surplus, because once you have the surplus is when you can actually start investing into creating a better life.

The question is not figuring out what hot stock to invest in or to invest in the S&P 500.

This is the idea, not the S&P 500, but the S&ME 500.

What skills can you actually create and get right now so that you can have a significantly better income? Because the better income, the high income, is what actually starts you to get rich.