Rich and Wealthy

In today’s age the words “rich” and “wealthy” are synonymous but I like to put more emphasis on the word “wealthy”. The reason for this is simply because media has shown us tons of celebrities that were rich that have lost everything and haven’t recovered. We have so many as a matter of fact until ESPN did a show “ESPN 30 for 30 broke”. These athletes all were at some point rich, but their mindsets remained poor. The biggest difference (to me) between a rich person and a wealthy person is the mindset that each has. A rich person with a poor mindset will take their money and will buy luxurious things to showcase their wealth. A wealthy person with a wealth-building mindset will take their money and invest in real estate and other derivatives thus continuing to grow their wealth. 

The below example is of a rich celebrity with a poor mindset.


According to Forbes magazine, Nicolas Cage earned $40 million in 2009, making him one of Hollywood's highest-paid actors. Unfortunately, Cage, 49, appears to have some major spending issues — and equally hefty problems with his financial adviser. After Cage faced foreclosure on several properties and the IRS slapped the actor with a $6.2 million tax lien in 2009, Cage sued his money manager, claiming negligence and fraud. In a counter suit, Cage's manager alleged that the actor had blown through at least $33 million on dozens of specialty or vintage cars, four luxury yachts and 15 palatial homes around the world, including two European castles, as well as rare art and high-end jewelry. Those contentious lawsuits have been settled, but Cage still appears to be trying to fix his finances. The Oscar-winning actor is currently trying to unload several properties, including a chalet in Aspen, Colo., and an entire island in the Bahamas. (http://www.aarp.org/money/credit-loans-debt/info-12-2012/celebrities-who-went-broke-slideshow.html#slide1)


The following is an example of a wealthy person with a wealth-building mindset.

Donald Trump- $2.9 Billion
One of the most famous faces when it comes to celebs, he’s certainly got the most famous head of hair. According to Forbes, Trump thinks his “brand alone is worth $5 billion.” Such confidence has helped him accumulate one of the richest real estate holdings in the world. The real estate mogul is also the boss of NBC hit show The Apprentice. (http://www.therichest.com/expensive-lifestyle/entertainment/richest-celebrities/)

Another reason why I chose to use Donald Trump as an example of a wealthy individual is because his mindset is so sharp until he’s filed bankruptcy before (a few times) and has bounced back better than ever. 

To wrap this up, rather you choose to use the word “rich”, “wealthy”, or whatever, just make certain that you have a mindset for obtaining more. –TheKing_65 (June 21, 2013)


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