Home
>
Wealth Building
>
What it Means to be Rich

What it Means to be Rich

Many people have a false understanding of what it actually means to be rich. If you were to ask a stranger what makes a person rich, he or she would say "A person is rich if they have a lot of money and can buy whatever they want!". But that isn't what it means to be rich. This is what it means when a person is rich: The person's assets create enough cashflow every month, to cover his or her expenses. So basically being rich means that whether you work or not, money will still be flowing into your pockets.

Creating assets is the key to becoming rich. The rich have many different assets, which provide them with a monthly income. The truly rich people are those who don't work for a paycheck because their assets provide them with a lot cashflow. So if your assets make more than enough money to cover your expenses, you're rich. Having a large sum of money in your hands may cover your expenses for a while, but it isn't going to last forever.

When you're rich, you're making your money work for you. You send your money off into bonds, stocks, businesses, gold, or real estate, so that it'll make more money. You don't really have a job, because you don't need one. The rich let their money do all the work, so that they don't have to. But many of the people who became rich weren't born with a silver spoon in their mouth. It takes hard work and dedication to become rich. We grew up believing that if we don't get paid by the hour during a job, then we shouldn't do it. The rich aren't addicted to an hourly wage. They'll work for hours, days, months, and years without pay in order to create their assests. Once the assets are created, little or no more work is required, and the cash just flows in.

During high school, we're taught that you can only make a lot of money by getting a good job. Because of this, many of us become addicted to an hourly wage. When a friend or relative gets a new job, we congratulate them and then ask, "So, how much do you make an hour?". Once in a while you may ask your boss for a raise, because you feel you work really hard and deserve it. The rich don't ask, "How much do you make an hour?", or, "Can I have a raise?" they ask "What's your monthly cash flow from your assets?", and "What's the dividend yield on your favorite income stock?". Many employees say "I'm going to retire with $700,000.00 in my 401K!". The rich say "I'm going to retire with $30,000.00 a month coming from my assets".

So it's easy to tell when a person is rich or not. If a persons assets produce enough money every month to cover his or her expenses, then that person is rich.

Michael Press is an investor and teenage entrepreneur. He currently owns and operates passiveincomeinfo.com, a free website with articles about how to build wealth.

custom home cleaning Winnetka ..

In The News:

Expert analysis reveals whether wired Ethernet or wireless Wi-Fi connections are safer for home internet use, plus practical steps to secure your network from attackers.

Australian construction robot Charlotte uses sand, crushed brick and recycled glass to 3D print fireproof, floodproof homes with reduced carbon footprint.

Cybercriminals are using fake invitation emails to trick recipients into downloading malware and stealing personal information and data.

Flying drones could help retailers fight a 93% increase in theft rates as Flock Safety promotes airborne security systems to track suspects and deter crime.

The Fox News Artificial Intelligence Newsletter brings you the latest news on the emerging technology every Saturday, highlighting top stories.

Hacker group Radiant stole data from 8,000 children at Kido nursery chain, demanding ransom and directly contacting parents with intimidation tactics.

As 18 states implement bell-to-bell cell phone bans, creative students use Google Docs, iMessage on MacBooks and Post-It notes to stay connected in class.

A sheriff's captain says deputies often spend hours writing reports between calls, but Axon's AI program, Draft One, helps them save crucial time in the field.

Sora 2, OpenAI's new video-generation app, can create AI-generated videos based on a singular prompt. The results are both mind-blowing and terrifying.

iPhone and Android users can reduce Wi-Fi calling battery drainage through settings adjustments, background app limits and stronger Wi-Fi connections.

Work email scams are becoming harder to detect as criminals use AI and spoofed addresses to trick employees into opening malicious attachments and links.

From her Arizona living room, Christina Chapman ran a covert hub that helped North Korean operatives infiltrate U.S. firms, netting $17 million in stolen salaries.

UC Santa Barbara researchers developed a soft robotic intubation system that achieved 100% success rates for experts and 96% for paramedics with minimal training.

Scammers exploit probate filings to target grieving families with fake fees and debts, Kurt "Cyberguy" Knutsson reports.

Automotive giant Stellantis becomes latest victim of widespread Salesforce breaches affecting companies like Google, Cisco and Adidas this year.

A woman from Washington reunited with her missing Maine Coon cat Louie after 11 days using Love Lost, a free AI-powered pet recovery platform.

Expert cybersecurity tips help Mac owners remove malware infections and strengthen defenses with antivirus software, password managers and system updates.

Meta's AI chatbot training rules bans sexual roleplay with minors and block access to child abuse material as regulators scrutinize its safety measures.

Online banking users face a new threat: web injection scams that overlay fake pop-ups to steal logins. Here’s how to spot them and protect your accounts.

Meta introduced Teen Accounts to Facebook and Messenger while launching a School Partnership Program for U.S. educators to report bullying within 48 hours.

Executive order signed by President Donald Trump tasks Robert F. Kennedy Jr.'s MAHA Commission with using AI to find new cures for childhood cancers.

New FileFix attack tricks Facebook and Instagram users into running malicious PowerShell commands disguised as Meta account maintenance to deploy StealC infostealer.

Step-by-step instructions help users migrate to Windows 11 while preserving emails, contacts, documents, and software licenses during the transition.

Chrome faces its sixth zero-day attack in 2025 as Google patches critical V8 engine flaw CVE-2025-10585 discovered by Threat Analysis Group.

The Hypershell X Ultra exoskeleton features 12 terrain modes and carbon fiber construction to enhance hiking, cycling and outdoor adventures.

What it Means to be Rich

Wealth Building