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4 Types Of Wealth You Should Know


"You will make some mistakes, but if you learn from those mistakes, those mistakes will become wisdom, and wisdom is essential to becoming wealthy." – Robert Kiyokasi

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Wealth defines as "Financial Freedom," but for me, Wealth set in 4 words "Happiness, Success, Value, and Measurement." If you're happy that you can sustain your daily living and your stepping up on the stair of success you're wealthy, and if you understand how to measure your money and giving time your self that is one of the best ways to give value your hard work that's how I can say life is wealthy. We are all wealthy, but we're different in the way on how you define Wealth. 

How will you define Wealth? (Comment down below your definition of Wealth)

But before you comment, I will share with you the 4 Types of Wealth that you need to know and how they relate it to your life.


There are four types of Wealth,

1. Time Wealth 
2. Financial Wealth
3. Physical Wealth
4. Social Wealth

TIME WEALTH (FREEDOM)

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Time wealth defines how you will value and spend your time. Wealthy people manage their time wisely, and some of their time is limited; that's why they hire people to do their other tasks. And that's how a wealthy person works, and they can buy others' time to do their job and then they can spend their own time on essential tasks or things. Understand that time is necessary; that's how you can say your time is Wealth.

Do's
Understand that time is finite
Learn how to manage your time
Finish your task on-time

Don'ts
Wasting time on social media and Netflix
Wasting time on partying


FINANCIAL WEALTH (MONEY)

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Financial Wealth when you're financially free, that's how to define Wealth, and you have assets than liabilities. Also, its how you will value and spend your money because the real thing about Wealth is it's not just about money; it is also about time. According to Allan Roth (CBSNEWS), Wealth define in the following way:

Wealth in years = net worth/ annual expenditures

A millionaire worth $1,000,000.00 and the lifestyle costing $400,000.00 a year, only have 2 in a half year of independence. The person worth $100,000, who only needs $2,000 a year, has 50 years of independence.

Do's
Learn financial management
Learn to invest

Don'ts
Spending a luxury car and watch
Spending on wants than needs

PHYSICAL WEALTH (HEALTH)

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Physical Wealth understands that real Wealth has a healthy life. Investing time and caring for your body and mind is the way of giving value to your health. If you're healthy, you can achieve your goals, and that's part of life success having good health.

Do's
Good Habits
Proper Life Routine
Proper Exercise, Nutrition, and Sleep
Proper Meditation for the mind and body

Don'ts
Bad Habits
Unhealthy Environment
Unhealthy Sleep
Low Quality of Nutrition
Lack of Exercise

SOCIAL WEALTH (STATUS)

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Social Wealth defined as the value of your status socially and emotionally. Social interaction has a connection, and that is the value of social Wealth. According to Zaid Dahhaj (Medium), social Wealth is one of the most underrated types of Wealth exist because we naturally don't think of status as a form of Wealth.

Do's
Understand Psychology
Understand Human Nature
Learn body language
Develop your character
Building Reputation

Don'ts
Ignorance of Psychology
Ignorance of Human Nature
Low-Quality Character
Negative Reputation

Simple Life, Simple Living, Minimal Style, Lifestyle, Simple Lifestyle
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If you already read the book "Rich Dad Poor Dad" by Robert Kiyokasi (and if you don't, you can read it here).

I agree that "Wealth is measured not in dollars or a currency amount, but in time." where your Wealth is the period that you can sustain your current standard of living if you stopped working today.

It doesn't matter how wealthy you are, but if you don't know how to manage your time and money, care about your health and status, your life is not healthy. The important thing about being Wealth is having time management can sustain daily living, healthy life physically and emotionally.



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