“I want to be wealthy” is a term we all often hear from our friends or family members. The part you hardly hear is the type of wealth they are looking to build.
Understanding the types of wealth helps you put a more precise plan together to achieve your wealth status. You wouldn’t take a Ferrari on a game drive to the Kruger National Park. You have to select the correct tools to reach your desired outcome.
What are the 4 types of wealth?
This is the most popular type of wealth that a lot of people are chasing which SV Capital can help you achieve.
This type of wealth typically refers to having access to an abundance of money. ( I used the word access because you can still be wealthy and bankrupt or be a newborn baby and be wealthy).
You become financially wealthy by having great financial literacy, basically understanding the principles of money (Make a lot of it and spend as little as possible).
We don’t pay much attention this but we all know that one person that is well connected and can get things done by making a few calls. This too is a form of wealth which can give you access to “things”. The more commonly used term to better describe this is social capital which looks at your character and reputation.
If you have never watched the movie In Time I highly recommend you do! It will help you see your job and most things in your life differently.
I strongly believe that you can’t make time you can only spend it. So it becomes important what you spend your time on. Having time to do the things you want, whenever you want to do them is called freedom.
This could mean you take a job that pays you enough money for you to live but gives you the flexibility to do anything you want when you want to.
To achieve any of the above types of wealth you have to pay attention to this one first.
You only get one body and how you treat it will determine your physical wealth.
To achieve physical health is mostly ‘free’ it just comes down to your choices. The choice to do the following things:
Get enough sleep
The goal should be to actively work towards achieving all four of the above wealth types to become a well rounded wealthy person.
Now, it is time for you to
Draw up a plan on how you will achieve each of the above (Our investments have got you on the financial wealth).
Execute the plan and constantly evaluate your progress to see if you need to make any adjustments to your plan.
Happy wealth building!