What is Wealth? Wealth is measured in time or the number of - TopicsExpress

What is Wealth? Wealth is measured in time or the number of months you can maintain your current lifestyle before you run out of money. So, if your monthly expenses are N50,000 and your bank balance is N500,000, you are wealthy for 10 months. What is Cash? This question may sound silly, but most people equate money with cash. Cash is just the physical money you have in your wallet or at home. Money in the bank is not cash. Money that is physically not in your possession is not Cash. What is Money? Now I am going to challenge your definition of money. Think about it for a moment, if cash is money in your possession, what is that stuff in the bank? Money in the bank is Debt. How? If you want proof, ask your banker. Bankers call customers deposits in their bank accounts Liabilities. This means they are legally bound to pay you back your money in your account as Cash, should you wish to withdraw it.

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