Wealth is something that everyone wants, but few are smart and patient enough to attain it. Becoming wealthy is so simple, yet so few ever get there.
What the majority believe is that being rich is having millions in your bank account, fast cars, yachts, and many other luxuries. But true wealth comes from owning assets, paying little in taxes, and living below your means so that you can build a family legacy.
Appreciation
Assets such as real estate, businesses, gold and crypto appreciate in value. What the majority of people chase after are fast cars that plummet in value after being used for a short period of time. Appreciating assets are constantly going up in value, making you money, building up your net worth. This appreciation comes to you tax free.
Leverage
When an asset appreciates, many don't know this, but you are legally able to tap into the cash value of that asset through collateral loans without paying any tax at all while still maintaining ownership of the underlying asset. You never actually have to sell a high quality asset or pay taxes!
Cash Flow
Would you rather have $100 today, or $1 paid daily for the rest of your life? Assets such as real estate, some cryptos, and notes can give you recurring income for life if invested wisely. Constant income in small amounts creates much more wealth than instant sums of cash that people tend to chase after.
Conclusion
Keep working hard! When you are first getting started, a few cents in dividends or appreciation doesn't seem like much. But when things start compounding, your wealth will build upon itself. Focus on how many assets you have accumulated so far, rather than the money you have made. This is what really matters in the long run.