I do believe that living a rich life is to have a beautiful balance of love, contentment and purpose.
But this video is about the cold, pragmatic definition of rich. Webster tells us the adjective "rich" [riCH] means to have an abundance of possessions.
I don't like that definition because an abundance means different things to different people. Most people used to consider having a million dollars to be rich; meanwhile, Elon Musk might consider a billion dollars to be rich.
I view "rich" to be more of the mathematical relationship between your investments and your spending.
My broad definition of rich [riCH]:
"Living your preferred lifestyle, while your money effortlessly grows faster than you spend it."
There's an infinite number of ways to do this, but the point is that when you create a wealth building machine that can provide you the life style you want AND continues to grow, you are rich!
Personally, I plan to do this in the safest and most predictable way I know how - through broad based index funds. Let's break this down:
Safest:
My portfolio holds over 15,000 of the worlds greatest companies and therefore have gained exposure to virtually every corner of the global economy.
I'm not betting on winners and losers, I'm betting that human civilization will still be around throughout my lifetime.
With this indestructible portfolio I don't care about inflation, I don't care about trade wars, and I don't care about politics. My bets are even places on BOTH sides of the fence so that my portfolio wins no matter what!
Predictable:
Remember, our thesis is betting human civilization and so far we have about a 10,000 year track record of continuing to survive and thrive.
What would you rather bet on!?
Happy Building Wealth! www.advizewealth.com