Wealth is a concept that can take on many different forms and its principles reach beyond the realm of finance. In “VALUE IS CREATED THROUGH AN EXCHANGE OF RESOURCES” I list the six fundamental resources an individual may become wealthy. Although an individual’s wealth may take on many different forms (in terms of a personal portfolio), what is wealth? Wealth can be summed up by one word, value; this is important to understand because so many people mistakenly conflate an individual with a lot of money (currency) as someone who is also wealthy. This is not true because currency can lose its value over a period of time.
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So what does it mean to be wealthy? Well, that is quite a loaded question to ponder without having any context, but when one considers wealth to be a concept based on value, one can begin to see the forest amongst the trees if they were to start considering why wealth is important. In “THE ANCIENT BABYLONIAN RULES OF MONEY VIA 21ST CENTURY LANGUAGE” I share what I think is the most transparent quote about wealth building that has ever been said and believe it bears repeating ad infinitum; taken from George Clason’s book “The Richest Man in Babylon”:
· Men and women who keep both gold and silver that they have no need to spend, are good to their family and loyal to their community.
· Men and women who keep only a few coppers are indifferent to their family, and indifferent to their community.
· Men and Women who have nothing for their keep are unkind to their family and disloyal to their community, for their hearts are bitter.
· Men and women who keep both gold and silver that they have no need to spend, are good to their family and loyal to their community.
· Men and women who keep only a few coppers are indifferent to their family, and indifferent to their community.
· Men and Women who have nothing for their keep are unkind to their family and disloyal to their community, for their hearts are bitter.