What is Wealth?

“WEALTH” come from the old English word "weal", which means "well-being" or "welfare". This term originally describe the possession of such qualities.

Now days “wealth” means an abundance of items that has economic value, or the state of controlling or possessing such items, including money, real estate and personal property.

The label of wealth is relative and not only varies between societies, but will often vary between different sections or regions in the same society. For example, a personal net worth of US $1,000,000 in most parts of the United States Midwest would certainly place a person among the wealthiest citizens, yet the same net wealth would be considered quite modest on New York City's Upper East Side or in the Connecticut suburbs. However, such amounts would constitute extraordinary wealth in impoverished developing countries.
So individual consider as wealth if he have more assets than his society.

No limit

There are no limit to wealth. Wealth is abundant. There is room for people to gain wealth without taking from others, and wealth is not a zero-sum game in the long term. Many things can affect the creation and destruction of wealth including size of the work force, production efficiency, available resource endowments, availability of capital, but most important factor are inventions and innovations.

For example: Energy now day lies heavily on oil from mining. It predicted to run out in near future. Oil price went crazy in the past few years. But before it really run out, scientist already discover another alternative energy. Energy that come from sun, wind, and even water, which we know it will never run out. Scientist can even make oil from plants.

However, at any given point in time, there is a limited amount of wealth which exists. That is to say, it is fixed in the short term. People who study short term issues see wealth as a zero sum game and concentrate on the distribution of wealth, whereas people who study long term issues see wealth as a non-zero sum game and concentrate on wealth creation.

One's attitude towards this issue affects the design of the social or economic system that one prefers.

Another definition

Robert Kiyosaki (author of Rich Dad, Poor Dad) said, wealth is a measurement of time. It is how long you can continue to live your lifestyle when you cease working. For instance if you have an expense of $2,000 a month and $4,000 in the bank and you have no other forms of income, then you have a wealth measurement of 2 months.

But if you are able to have other forms of income, which don’t require trading time for money, to a point where they exceed your monthly expense, then you will effectively reach infinite wealth. This called PASSIVE INCOME or residual income. And if you think wealth is a game, then your goal is to have passive income more than your monthly expense.

This is the FINANCIAL FREEDOM.

Hope you all achieve it, and have a GREAT LIFE !!!