Wealth is not necessarily the amount of money you accumulate in the bank nor the cash at hand. There is more to being wealthy than having lots of money.
To my mentor, Robert, WEALTH is neither a goal nor the means to a goal, rather, it is “a measure” for financial survivability or how much money your money is making.
It is “a gauge” that lets you know how far or close you are to achieving financial freedom.
Wealth is defined as the measure of the cash flow from the asset column compared with the expense column.” He said that “wealth is a person’s ability to survive so many numbers of days forward… or if I stopped working today, how long could I survive”?
In other words, if you were to lose your job or major source of income, how long will you be able to survive without borrowing?