Types of Wealth:
Do you want to know the types of wealth and how to achieve them?
Here you are in the correct place. In this blog post, we are going to cover
-Actually, what is wealth?
-the 4 types of wealth
-Actionable steps to achieve them
-Wealth trap, that most people face today
Read the post wisely & take action to achieve them.
Most people define wealth as money & physical things that they achieve in their day-to-day life.
But it is only one part of the wealth.
“Wealth is the ability to fully experience life.”
Henry David Thoreau
There are 4 types of wealth.
- Financial wealth (Money)
- Social wealth (Status)
- Time wealth (Freedom)
- Physical wealth (Health)
Let’s review one by one…
What is financial wealth?
In my opinion financial wealth is enjoying our life/ability to do what we like without worrying about money. Simply someone can define it as financial freedom.
According to medium.com writer Zaid K. Dahhaj, he defines financial wealth is “financial freedom which is the ability to enjoy what you like, when you like, with whom you like in terms of spending money.”
Why do you need to achieve financial wealth?
In my view, If you can achieve financial wealth makes it is easy to achieve social, time, Physical wealth.
So How to achieve financial wealth?
Financial wealth is not making only a huge amount of money.
To accomplish financial wealth you need the following things
-The correct way to make money
There are so many ways to achieve financial wealth.
But the way you earn your financial wealth should not belong to the modern wealth trap.
I know now your question is “what is the modern wealth trap?”
the modern wealth trap
It is your traditional job. You can achieve financial wealth (money) and social wealth (status), but it robs your time wealth (freedom), and physical wealth (health).
the vast majority of people falt this modern wealth trap and often, never come out of.
So how you get out of this trap
The answer is simple.
start your own business and be your boss.
After you make money out of the trap, you need to invest in the right ways that generate income again for you.
Tip-Most businessmen invest their money in real estate.
–Budgeting(the way you spend money)
Don’t spend more money than you earn.
Don’t focus on luxury liabilities at the beginning such as cars, homes.
Invest money. Earn from the investment and then buy what you need.
What is social wealth?
Simply social wealth is the total valuable connections that you have with peoples, the status that they give for you & how they care about you.
How to achieve social wealth?
According to the medium.com “Social wealth largely comes down to how you interact within the social world.”
To achieve a high level of social wealth you need to build more connections with positive peoples.
To connect with them treat them well. Help them.
Be a genuine person. Be humble.
What is time wealth?
Time wealth is the freedom that you can use your time to anything you like any day.
In modern-day more people lose their time wealth after going to achieve their finacial wealth. That’s why I mention you should choose the right way to achieve finacial wealth.
Why you need time wealth?
Everyone likes to spend time on their hobby, with relatives, some time to travel, etc.
So, how to achieve time wealth?
Today the main disturbance to achieve financial wealth is the traditional job structure.
To achieve time wealth Get rid of your traditional job and find a way to make money outside of it.
In my opinion, the best way to do this is to start your own business.
The next most important thing is managing your time. Plan your day in advance. develop the self-discipline to follow your day plan.
Break your bad habits. Don’t waste more time on value less traditional habits such as watching TV, surfing the internet without aim, drugs.
What is physical wealth?
Simply, Physical wealth is our health.
Today on the way that people going to achieve their finacial wealth they miss the most important wealth that they want.
Why you need physical wealth?
Physical wealth is everything.
Acquiring other wealth without physical wealth (health) is only temporary.
How to achieve physical wealth?
To achieve physical wealth make time for your health.
Treat your body well.
Meet your doctor and get advice when you have time.
Get a minimum of 5-6 hr sleep.
In this blog post, we covered the 4 types of wealth and actionable steps to achieve them.
Also, we covered the wealth trap that most people fall in with.
Now you know-how to achieve them.