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Wealth = how long you could sustain your current lifestyle (same expenses) if your income stopped, today. EDIT: what I like about this definition is that it is
by thibaut_barrere 16y ago
Wealth = how long you could sustain your current lifestyle (same expenses) if your income stopped, today.
EDIT: what I like about this definition is that it is not subjective and doesn't imply any need for comparison. As well, it conveys the idea that time and mobility are the new currencies, which I believe.
(the definition I use; read it in a french book by Olivier Seban)
- paolomaffei 16y agoWhat if you have a cushy job that earns you $100k / year working 4 hour a week? (lifestyle business like Ferris like)
- thibaut_barrere 16y agoIf you earn $100k per year (no matter how long you work) and have no savings and spend $100k per year, then your wealth is "0 day" and will remain the same, by this definition. If you earn $100k per year, spend $80k per year (saving $20k per year), then you'll earn "3 months of wealth" each year. If you earn $60k per year, spend $20k per year (saving $40k per year), then you'll earn "2 years of wealth" each year.
- wdewind 16y agoProtip: No one has that (including Ferris).
- dedward 16y agoDoesn't help you one bit if you are spending $150k/year and going into debt.