26d • General discussion
Rich Vs Wealthy
Rich is when you take $200K cash and buy a Lamborghini.
Wealthy is when you take $200K cash and buy an asset that pays you $10K per month.
You can then finance the Lamborghini at 0% interest, and your monthly payment will be just under $3,400 for 5 years.
Take the $10K in cash flow from your asset you purchased, the first $3,400 is for your Lamborghini payment, and you have $6,600 left over each month to do whatever you want with.
After 5 years your Lamborghini is paid off, and you still have that asset producing $10K
per month.
Rich is temporary, wealthy is generational.
If you don't come from a wealthy family, don't worry, a wealthy family can come from you.
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Rich Vs Wealthy
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