"Crypto Is Dead: Examining the Future of Digital Currencies in a Changing Financial Landscape"

"Money Talks, Wealth Whispers"- I heard this recently and it has been in my mind for a while, I started reading a book called "The…

"Money talks, Wealth whispers"-The Psychology of Money

I started reading a book called "The Psychology of Money" where the author talks about Wealth, Money and the topics that surround around money.

Elon Musk once said on a podcast that "money is like a database that you can use to exchange good and services, if you are stranded on an island that money is worth nothing". What he meant is that money is used as a tool these days, before money was printed people used gold or other precious metals to exchange goods. The future might be blockchain and money might lose value. The evolution of this tool is not going to end. What will remain constant is the status of a person which will be defined by how WEALTHY they are?

Wealthy and Rich are two different things: Wealth is what is not shown publicly and is more driven towards assets. Being Rich is defined by material possessions that ones have, be it sports cars, expensive bags, clothes, shoes, you name it. We are surrounded by people who show that they are rich but are sitting on big piles of debt. Wealth is more about living below your means and spending money where its needed. Wealthy people buy assets that pay them and that income compounds over time. Warren Buffet and Charlie Munger are great examples, they live simple lives but have more money than any celebrity you might know. Money is a tool that solves the need of humans, Assets are the means where a person remains wealthy and creates generational wealth, all that we are chasing is not to increase the monetary value in the bank account but using that monetary value to achieve freedom, stability and live a good life.

Samir Dave