Wealth - Definition

 

Wealth is by definition an accumulation or abundance of something. In life you can be rich, poor or have wealth in various aspects of your life. Financial wealth is the most obvious form of wealth, however you should also be aware of wealth in spirit, health, friendships, family, academically and emotionally.

 

How To Measure Wealth

Wealth is actually a measurement of how many days you could survive in your current standard of living if you lost your job immediately.

The best measurement of wealth is to calculate your daily living expenses. Then calculate your passive income and your cash value if you cashed out or immediately sold everything you own except your housing, essential transport and furniture within 14 days.

Calculate how much passive or unearned income you have.

Your daily living expenses minus your passive income gives you a net daily living cost. Your cash value divided by your net daily living costs gives you a measurement of your wealth in days.

 

Example.

Dave has living costs of $120 per day. He earns $20 per day in passive income from internet marketing web pages he set up. Dave has $2000 in savings and $5000 worth of items he can sell within 14 days.

This gives Dave a $7000 cash value and net daily living costs of $100 per day. Dave's wealth is estimated at 70 days.

 

How To Improve Wealth

Because wealth is a measurement of your cash value divided by your living costs, the easiest ways to improve wealth is to accumulate more savings, passive income or lower your daily living costs.

Lowering your daily living costs is fairly easily achieved with a budget and by being more content with what you already have. Focus on the important things in life like people and relationships, as they cost less and mean far more.

Boosting passive income can be achieved through investments in income producing assets or by creating assets. See our links on Make Money Online , The Best Make Money Resources, Income and our all time favorite Money Making System.

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Disclaimer - this information is general in nature and does not take into account your individual circumstance. You should always seek professional independent advice prior to acting on this information or making any decisions based on this information.