Lets talk about wealth or being rich for a moment. Which would lead to the question what is rich or wealthy in the first place?

You have to understand you have 10,000 USD saved you are already among a small group of ppl world wide.

So they say that.. https://www.cnbc.com/2019/07/18/how-much-money-you-need-to-be-rich.html

I posted this only as the numbers given to be considered rich. So they think 2.3 to 2.6m USD makes you rich? Does it? It will not be enough you can live from it as an investment. I tell you this right now. You will have to cont working.

So how much you need to be rich? Hmm.. that is a question you have to answer yourself. But in general after tax and all you should have some money left and preferably not sell assets.

I give you my number.. its 30m Euros. That is where I see someone is rich.

Why?

You have an ok annual ROI of 5% (lets keep it boring) you make 1.5m p.a. pre tax. investing. So after taxes - we use a heavy bracket - you have about half of that left 750,000 Euros.

But now do you spend that? Maybe but then your above number (30m) will stay the same all the time hence your income only gets better your ROI goes up - hence more risk - also gives the risk you can lose

So you need a plan. Work? Spend less? Take more risk?

You decide.

But now lets spin this one.. Is being rich a measure of success?

No. You could have won the sperm lottery, the real lottery or are just a lucky chap who were at the right time at the right place. But maybe you even did work very, very hard for this money.

But still its not a measure of success. I know ppl who work very hard and are not rich. They work most likely harder than you and me - ok you - and still they are not moving anywhere. That is given by circumstances, times, decisions or just where you live.

Elon had to move to America to become rich in SA he might be less rich or not at all. All is momentum in life. But momentum is funny as it swings. And with that wealth. This okes are not that rich, their stocks are valued as that.. and they can lose and win every day value..

But the oke only - got on paper poorer or richer - as he did not sell the asset. The day you execute that trade is where that valuation matters. If you have 100 or 10bn bucks will not make your life a second better .. both is more than you ever need.

But to measure success on wealth - how much one earns or to think rich ppl are successful is wrong. It sends a wrong signal.

But I understand

You are in a place of distress or worse. Or just dream what it is like to have that AP watch or drive a Ferrari, shop the max of your credit card like you own Amex can lead to thinking that money and wealth is the solution of all your issues.

Money gives you the freedom to have more choices - that is true - but it will create issues too. And more than you think off. But that is for another day.

Success is based on your way of dealing with things.

No matter how hard it is, you never give up and pull and push and do whatever you can.. you get there, halfway there or not even. Try again and again. Life is a constant struggle if someone tells you otherwise it is a lie.

And always remember change starts in the head.

And money will never buy you happiness it will buy you a substitute. But they get old after time. You'd be surprised.

Enough bullshit

Park off

Anyway, some might say am in a position of privilege, as am born with the right passport, in a supportive environment and build a career and life up others might want. That is true. Am not neglecting that fact. I am and was very fortunate and grateful.

But I did myself face challenges all along and see what others came to and where from. This is how I see it based from where I am sitting. You do not have to agree or can even challenge. There is no wrong or right. But I am not a fan of the fact we glorify being rich or wealthy

as a measure of success. And the social media and media itself does not help with their rankings. As it makes others - very hard working ppl - feel second best or worse as they struggle and fight and achieve a lot more - given the curfews they have - than someone who has a lot

It is very hard to feed a family with no money - but very easy to buy an AP for your girl friend - it hardly makes a dent in your bank account.

And when you ask me - who is more successful - you know that answer by now.