Learn How to Build Wealth Volume 1–What is Financial Wealth?
Building or developing individual financial wealth is simply the process of accumulating assets that will be used to achieve certain goals. The level of wealth can mean different things to different people. Some may say they are wealthy when they can pay their bills on time, while others feel they are wealthy if they live in an expensive home, make lots of money, or drive a nice car. Regardless of how we may define our level of financial wealth, planning plays and important role.
In Course 3 “Personal Finance 101”, we referred to retirement as living out our final 7000 sleeps without exchanging time for money. To experience true retirement we must reach one of the following levels of financial wealth.