It's a confusing question.
How much wealth do you own?
Some people say "I own my house, I own my car."
That's a not the answer. These things are not wealth.
How much wealth do you own? How much of your paycheck do you give away for living costs?
After that, how much do you save?
AFTER all that how much wealth DO YOU OWN. . . . . . . after savings.
Right now how much money do you OWN?
Do you have income from a source other than your wage?
Savings is wealth many would say.

Savings are meant to be spent.
You save for a rainy day, shopping, holidays or retirement. To have wealth you must have portion of money that is never destined to be spent. Only grown in value.
Money never spent is a challenging concept. But if you never spend money what does it do?
It transforms into assets.

Definition of a Slave :

1. One bound in servitude with no reward
2. One who is abjectly subservient to a specified person or influence
3. One who works extremely hard.
4. A machine or component controlled by another machine or component.


Slaves is what most of the high consumer types fall into. They recieve their paychecks.
Then after they pay for rent/morgage, they then buy their food and after this they pay bills. Then comes auto and personal loans and, if they're really bad, soon comes store credit cards. Most are all or a combination of these things.

At the end, they have little if anything of spare coin left over. They trade 40 - 60 hours of their lives a week to pay for the banks mortgage profit, the grocers profit and the electronic stores interest. Bound to servitude with no reward.

Even if they save anything that too will one day be spent.

Owning wealth isn't owning a home with a mortgage. Sure a home can gain equity which becomes an asset but in these days and times it can lose value or the morgage can be called in.

Gambling for an asset is no better then gambling on cards.
Your asset of a home is offset by the debt of a mortgage. Effectively cancelled out on your balance sheet
and neutral. This is differant school of thinking to the norm and is not well recieved.
However its a widely agreed fact by those who have attained financial freedom.

Motor vehicles and boats have so many extra costs with insurance,maintenance and license fees that they could very rarely be called an asset.
Savings is an asset while it's in the form of savings. But as soon as it becomes the mortgage or holiday it ceases to be an asset.
Owning wealth is putting some of your money away forever.
You use this money to create income or purchase an asset that creates income.
Having an income seperate from your main is the very basis for true wealth.

At the turn of last century it was considered good learning if a person put away 10% of his income for this purpose.
More recent surveys of Americas wealthy show a trend of investing 15%.

Whatever you do put away be it a little or alot, some is always better then none.
The idea of saving for your whole life sounds absurd to the average person until you realzse such a small amount over so many years can add up to so much. The interest earns interest.
At the end you dont really miss the dollars anyway.

It's important to start off small with what you can afford. Then grow it as you grow.
As your wealth grows you will see wealth where before you missed it. Financial wisdom is a magical thing. Once you understand money and the two important rules of getting and keeping it, it seems to flow to you in increasing quantities.

A person who is wise with their money is powerful and in control. They know where they have come from and where they are going.

Every great tree has grown from a tiny seed. Put those few dollars away in your tiny wealth seed and begin your massive wealth tree.

"No matter a persons proffesion,
they are both honoured and respected if they understand the laws of acquiring and keeping wealth."



It does not matter if you're a garbage collecter or a kitchen hand. If you are well educated in your personal finances and handle your money with foresight and skill, you can walk the same line as the wealthy because you're on the same road, heading to the same place: Financial Freedom

Master Lewis