There are many definitions when it comes on to wealth vs
income. The best example I could provide is a visual one. Think of an iceberg
image; wealth is the iceberg, while income is the tip of the iceberg. What is
the mode that keeps generating the income? If you are a potato farmer, the
potatoes is the wealth not the labor. To have wealth means you have power.
A person’s economic power determines their affluence. Such
people focus their attention on stock markets, real estates and entrepreneur
projects; therefore, it is essential to build your intuitions. However don’t do
it by disrespecting yourself, selling illegal drugs, pleasing people (go along
to get along) or doing manual labor past a certain age. Instead, create the
following:
1.
Develop economic systems for the tax benefits.
You are able to use them for capital gains.
2.
Establish your own intuitions for they will make
money while you sleep
3.
Start your own schools because they will be
around long after you are gone and your philosophy will continue to be enforced
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