Sunday, February 6, 2011

The difference between being rich or wealthy

The difference between rich and wealth is simple, although both are relative terms based upon an individual's idea of wealth or riches,they are completely different. Arguably, riches are earned, whereas wealth is always created. If you win the lottery or inherit a large sum of money, you are said to be rich. When that money is exhausted you have no means of getting more.

On the other hand, if a wealthy person looses their money, they have the means to create more. The wealthy can create riches but a rich person cannot necessarily create wealth. A person of wealth possesses the knowledge, wisdom, emotional stability and determination as well as other traits and talents to create riches. A rich person possesses money.

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