Thursday, 6 September 2018

Money vs Wealth conundrum

Everyone seems to be running after money and still not being able to be satisfied with what one has got. Money is defined as the cash flow you need to maintain the lifestyle you have. Wealth is defined as the money accumulated over time or the money that will last a lifetime. Therefore, we must focus on wealth creation and not running after money. Remember, money never made a man happy yet, nor will it. There are 4 kinds of people with respect to their attributes on money and time. 
  1. People having lot of money, but no time.
    We see rich businessman, company's CEO's and other top notch officials who are arriving in chauffeur driven cars and are always busy in meetings and events. They seem to have a lot of money in their pockets but no time to enjoy it.
  2. People having lots of time, but no money.
    We come across a lot of people who just laze around or just enjoying their hookah, with no work to do and no money to have.
  3. People having no money and no time.
    Most of the salaried class and businessman lie in this class (over 97% of the world's population is here). Everyone seems to be working their day and night for money to be used to pay bills and EMI's. Growing in the corporate ladder will only take you from the quadrant 3 to quadrant 1. The corporate mindset is aligned towards attaining a level wherein you reside in the first quadrant.
  4. People having both money and time.
    This is where one must aim for and attain a mindset for so that one has the time to earn and spend on himself/herself. Less than 1% of the world's population lies here.

Wealth consists not in having great possessions, but in having few wants ... Epictetus
Money is a terrible master but an excellent servant ...  P.T. Barnum
Too many people spend money they earned, to buy things they don't want and, 
to impress people that they don't like ... Will Rogers


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