How would you define wealth? Do you often look at people like Elon Musk and Bill Gates, and think... "I'll never be as wealthy as them?".
Well, that's setting quite a high bar... why compare yourself and your wealth to somebody like that? Why compare yourself to anybody at all when defining your wealth?
Wealth should be defined by the gap between your expenses and your income. The bigger the gap, the more comfortable someone lives.
So...how big do you want that gap?
All of this and more on this week's episode of Multifamily Investing Made Simple.
Tweetable Quotes:
"Wealth is a ratio between what you make and what you spend." – Anthony Vicino
"High income does not equate to wealth." – Dan Krueger
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