When you think about focusing on either money or wealth, it is essential to know that both of these have their significance. They both are required and should be focused. Money is just a path for wealth movements. People use them interchangeably but they have different meanings and importance. Moreover, if you are looking forward to investing in stocks and looking for long term stocks to buy, there first you need to understand the basic difference between wealth and money in detail as stock investment builds huge wealth through money.
A Small Communication between Investor and Trader to know about Wealth and Money better
Trader: Hello there! You taught me about the difference between MONEY and WEALTH yesterday. Therefore, I referred to the dictionary and researched further. Now, let me tell you the exact meaning of WEALTH.
Investor: Oh really, please let me know.
Trader: Wealth is the abundance of precious and valuable resources or even material possessions. The word ‘Wealth’ is taken from the old English weal, which is from a word ‘Stem’ that is Indo-European. Any community, individual, country, or region that holds an abundance of these possessions or resources is called wealthy.
Investor: That’s Great! But, I would like to add to this definition.
This abundance makes wealth creation a far more serious pursuit than mere money-making. You must have a goal of wealth from your investment portfolio if you convert it into cash and decide to do nothing else but enjoy the fruits of it. Then also you must be able to sustain for the next 3 generations with a lavish life. That is wealth.
Thus, the accumulation of abundant money not only for yourself but also for coming generations with peace and a relaxed mind is wealth. Even if you are not generating money on a regular basis, then also you can have huge wealth if you have already worked upon it in the past.
By knowing this, we can now build huge wealth easily just by investing in the right stocks for the long term with Multibagger stocks.