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.

professional maid services Deerfield ..
In The News:

Researchers discover phishing scam using invisible characters to evade email security, with protection tips including password managers and two-factor authentication.
iPhone and Android users can reduce battery drain and data usage by restricting Background App Refresh to Wi-Fi connections instead of mobile networks.
Scammers nearly stole an Apple account by exploiting the support system with authentic-looking tickets and phone calls, users can protect themselves with safety steps.
FoloToy restored sales of its AI teddy bear Kumma after a weeklong suspension following safety group findings of risky and inappropriate responses to children.
Threat intelligence firm Synthient uncovers one of the largest password exposures ever, prompting immediate security recommendations.
Viral video shared by Elon Musk shows Tesla's Optimus humanoid robots performing tasks from cooking to construction, garnering over 58.5 million views on social media.
Chinese hackers used Anthropic's Claude AI to launch autonomous cyberattacks on 30 organizations worldwide, marking a major shift in cybersecurity threats.
Apple's new Sleep Score feature gives you a rating for your nightly rest quality. Learn how to set it up on your Apple Watch and iPhone today.
Essential phone settings to enable before losing your device, including Find My network, location services and security features for iPhone and Android.
The Fox News AI Newsletter gives readers the latest AI technology advancements, covering the challenges and opportunities AI presents.
Cybersecurity research shows weak passwords remain a major threat, with simple patterns and number sequences putting millions of accounts at risk.
New Android malware BankBot YNRK silences phones, steals banking data and drains crypto wallets automatically. Learn how this advanced threat works.
FDA approves first human trial for Paradromics' brain-computer interface that could restore speech for paralyzed patients through neural technology.
New phishing platform QRR targets Microsoft 365 users across 1,000 domains in 90 countries. Learn how to spot fake login pages and protect your accounts.
OpenTable now uses AI to track your dining habits and share insights with restaurants. Learn what data they collect and how to protect your privacy.
Google's discontinued Nest thermostats still secretly upload home data to company servers despite losing smart features, raising serious privacy concerns.
New Android malware NGate steals NFC payment codes in real-time, allowing criminals to withdraw cash from ATMs without your card. Learn protection tips.
DoorDash confirms data breach exposing customer names, emails, addresses after social engineering attack. Learn how to protect yourself from scams.
Concerned about Google's AI scanning your Gmail? Learn how to disable Gemini features that access your emails, Drive files and Chat messages for privacy.
Google warns Android users about dangerous fake VPN apps hiding malware that steals passwords, banking details and personal data from phones and tablets.
Apple's digital passport feature lets iPhone users breeze through TSA checkpoints this holiday season using Digital ID technology at 250+ airports.
A new phishing scam targets family photos with fake "Cloud Storage Full" alerts. Criminals steal credit card information through fake sites. Learn protection tips.
South Korean scientists create ultra-thin fabric muscles that turn clothes into robotic assistants, lifting 33 pounds while weighing under half an ounce.
Archer Aviation has acquired Hawthorne Airport for $126M to launch an LA air taxi network ahead of the 2028 Olympics, featuring AI-powered eVTOL operations and next-gen aviation tech.
Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

Wealth Management, Wealth Protection, and Tax Planning

U.S. Supreme Justice Louis D. Brandeis"I live in Alexandria Virginia.... Read More

Building Wealth: A Wealth Building Strategy Is More Than Simply Diversifying Your Investments

Wealth - an abundance of values. Each of us determines... Read More

Does the Moon Have Covers?

Recently, one late winter night, my four-year old son and... Read More

Is Accumulating a $1,000,000 Net Worth Easy? Yes and NO

Is accumulating wealth as easy as following a 3-step plan?... Read More

The Top 10 Steps to Becoming a Millionaire

There is perhaps no more important decision than to take... Read More

You Can`t Cheat An Honest Man

Author: James Walsh ISBN: 1563431696: Publisher: Silver Lake PublishingIn... Read More

It Adds Up

Loose change that is, if you want a easy way... Read More

The Underlying Belief System

Many of us do not consider the underlying belief system... Read More

Do You Want To Save Money Easily?

Living on credit is fashionable. Indulging oneself is fashionable. Saving... Read More

6 Proven Wealth Building Strategies

Building wealth is as simple as saving a little bit... Read More

Investing is About Discipline

If you don't have discipline then walk away from the... Read More

Prosperity

An ellipsis to your success is hidden in the word... Read More

Before There Was Wall Street, There Was Gold.. & when Wall Street is gone, there will still be Gold

Paper burns and large companies can go bankrupt, but if... Read More

A New Paradigm Shift In Earthly Wealth

Hello,If you dont understand this yet, or have not heard... Read More

Saving Money - 35 Pieces of Advice to Save

There are only 2 ways to grow your wealth -... Read More

Can You Be Rich? Part 1

What does becoming rich mean to you? Is it early... Read More

Russ Whitney - Building Wealth Through Real Estate

When Building Wealth by Russ Whitney was released a few... Read More

Clearing Blockages to Increase the Flow of Money into Your Life

Money is probably the most challenging thing for many people... Read More

I Dont Need A Financial Coach To Help Me!

You've been thinking that your financial life could probably be... Read More

A New Economic Policy

Anyone knows that material wealth is measured in goods: apples,... Read More

My Ambitious Niche - A Completely NEW Way To Find Ambitious Wealth

Turn to the year 1999, a couple of friends sitting... Read More

Online Retirement Opportunity: Freelance Copywriting

For most of us, the idea of retiring simply on... Read More

7 Golden Rules to Financial Prosperity

Not Enough Money?I believe that most people haven't got enough... Read More

Creating Money, Prosperity, and Abundance Now (Part 2)

Giving and ReceivingIt seems that people generally find it easy... Read More

The Making Money Obsession - Discover The Real Truth

In most societies, we are raised to believe in the... Read More

quick home cleaning Lake Forest ..