The line between the rich and the uber-wealthy

Ayodele Ojo

In the world of the rich, “money talks, bullshit walks”, and the rich are revered almost like a tin god in our present society, but there’s an upper echelon that needs not brag about their position in life, according to the richest 1 percent grabbed nearly two-thirds of all new wealth worth $42 trillion created since 2020, almost twice as much money as the bottom 99 percent of the world’s population.

The terms “rich” and “wealthy” are often used interchangeably, but they have different meanings. Richness refers to having a lot of money or assets, while wealth refers to having enough money or assets to sustain a comfortable lifestyle without having to work, like hopping on a plane to play blackjack in Las Vegas over the weekend if that is what gets your goat, or just lying in your personal island. In other words, wealth is a long-term financial security, while richness is more about immediate financial abundance.

 Being rich is often associated with the acquisition of material possessions, such as expensive cars, designer clothes, and luxurious homes. While having these things can be enjoyable and provide a sense of status, they do not necessarily equate to happiness or fulfillment. In fact, studies have shown that once a person’s basic needs are met, additional wealth and possessions do not necessarily lead to increased happiness.

On the other hand, being wealthy allows for financial security and the ability to live a comfortable lifestyle without having to worry about financial instability. Wealthy individuals have the freedom to pursue their passions and interests without the burden of financial stress. They can travel, donate to causes they believe in, and invest in their personal growth and development.

However, it is important to note that wealth is not just about having a lot of money. It also includes having financial literacy and the ability to manage one’s finances wisely. Wealthy individuals have a long-term perspective on their finances and are able to make informed decisions about their investments and spending habits. They can save and invest wisely, which allows them to build wealth over time.

There are many factors that contribute to one’s wealth, including income, savings, investments, and assets. Income refers to the amount of money that a person earns on a regular basis, while savings refer to the portion of income that is set aside for future use. Investments refer to the purchase of financial assets with the expectation of generating a return, and assets refer to any tangible or intangible property that can be used to generate income or provide value.

There are many benefits to being wealthy, including access to high-quality healthcare, education, and leisure activities. Wealthy individuals are also able to invest in their communities and make a positive impact on the world around them. They have the resources to support charitable causes, start businesses, and fund research and development initiatives.

While both richness and wealth are desirable, it is important to remember that money does not necessarily equate to happiness or success. Studies have shown that factors such as strong social relationships, meaningful work, and personal growth are also important contributors to a fulfilling life. Additionally, it is important to use wealth and abundance responsibly and ethically, as these resources can be used to make a positive impact on the world.

As a footnote, I won’t mind belonging to the rich class, for a change, its more comfortable been able to buy whatever you want without resorting to borrowing or rather than pinching every cent that comes into my pocket, life should be enjoyed to the hilt, if you disagree with me, please let me have your opinion.


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