There’s a distinct difference between the definition of money and what it means to have wealth. Distinguishing between those two concepts and each one’s overall impact on your personal finances is most important.
If you want to increase your wealth, you must understand the relationship between money, service, and wealth creation.
In this episode, John explains the distinction between money and wealth and reveals the benefit of being valuable to others.
In this episode, you’ll also hear:
- Defining money and wealth in terms of service and trade
- Respecting the elegant system of the service and wealth relationship
- How making yourself more valuable leads to more wealth
[00:03:01] Wealth is the ability to serve someone…the ability to serve someone, if you have the ability to meet somebody else’s needs, to solve someone else’s problems, if you’re valuable to someone else, that’s what wealth is.
[00:08:10] If you’re not earning enough money to purchase the things you want in your life, do you know what you must do? You have to serve more people, and you can do that by improving your skills, or you can do that by leveraging yourself through investments and other entities that are serving people.
[00:10:48] Make yourself more valuable, serve more people, and you’ll create more wealth.
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Disclosure: The following program is sponsored by Fourth Avenue Financial, which is solely responsible for its content. Securities are offered through J.W. Cole Financial Member FINRA SIPC, and Investment advice is offered through J.W. Cole Advisors. Fourth Avenue Financial, J.W. Cole Financial, and J.W. Cole Advisors are unaffiliated entities. The opinions expressed by John K. Burdette II should not be construed as specific investment, legal, or tax advice. All economic and performance information is historical and not indicative of future results. Investing may involve the risk of loss of principal. Any Tax advice on this show is not intended to be used by any person for the purpose of avoiding US federal or state tax penalties that may be imposed on such a person, and each listener should seek advice from their tax advisor or legal counsel on topics that arise from the show. John K. Burdette II is not providing legal or tax advice. Nothing should be construed as a solicitation of an offer to buy securities.
The preceding program is sponsored by Fourth Avenue Financial, which is solely responsible for its content.