If I asked you to describe the biggest difference between RICH vs. WEALTHY, could you tell me?
When I was growing up in Detroit, Michigan, I certainly couldn’t answer that question accurately. To me, anyone who earned more than $100,000 per year was mega wealthy. I pictured them having multiple homes, fancy cars, and maybe even their own island.
It wasn’t until later in life when I learned the true difference between RICH vs. WEALTHY. And, once you understand it, too, it could have a significant impact on how you view your job or business.
RICH vs. WEALTHY: What’s the REAL Difference?
According to my mentor, there’s ONE main thing that separates the poor, middle class, rich, and wealthy. It’s this: whether you work for money or your money works for you.
The truth is, people who are poor, middle class, and even rich work for their money.
Of course, that looks different for different people. For some, it means going to work, day in and day out, week after week, month after month, and collecting a paycheck in exchange for the work they do. For others, it means having a business, such as an online registered dietitian business.
In contrast, the wealthy let their money work for them.
Again, what that looks like can be different for different people. Some people have financial investments such as stocks, bonds, or mutual funds that allow them to earn passive income even while they sleep. My favorite passive income method is investing in real estate.
If you want to learn how to use PASSIVE income to pay for your lifestyle, watch this video: The Difference Between RICH and WEALTHY
How to Become RICH or WEALTHY
The truth is, anyone can become rich if they simply work hard enough and smart enough. But remember the difference between rich vs. wealthy. If you want to go beyond being rich, you have to put your earned income to work.
Most people start out working for money. For example, as a Registered Dietitian, you may start out working in a clinic or private practice. You get paid for the time you put in or for the people you help.
Then, you may start your own registered dietitian business. The more people you help, the more money you typically make, especially if you’re able to grow and scale your nutrition business online.
Now, it’s time to take that EARNED income and turn it into PASSIVE income. That’s exactly what I did with my registered dietitian business coaching. I worked with a mentor to grow and scale my business so I could grow my income. Then, with my increased income I started investing in real estate so I could have PASSIVE income.
If you’re not sure where to start, take my FREE training, the Online Nutrition Coaching Business Blueprint. It’ll show you exactly how to start growing your earned income so you can then build wealth with passive income opportunities.