On... Rich but Still Working?
If your money doesnt work for you, then you will have to work until you die - Warren Buffet. What is the difference between being rich and being wealthy? There are many definitions that I have seen. But one ( out of many that I have seen ), that I like is that Rich is having a high income, while Wealthy is having a high net worth of assets. It's good to be both Rich and Wealthy, but if I had to choose, I choose Wealthy. I was having a conversation with my mom in-law and I brought up the topic of retirement. My brother and sister in-law's are not too fat from retirement age. They're are also quite rich by my standards. So, I would expect them to retire soon and enjoy the spoils of their labor. To my surprise, my mother in-law told me "Thats not the case. if they stop working, then where is the money coming from?" Buffet words rang through. No matter how much you earn, if you don't have Financial Assets, then you have to work forever. It could even be a double w...