Everything you need to know about wealth.
Wealth is the state of having a large amount of money, valuable assets, or resources. It is often used to refer to an individual's financial resources, including cash, investments, property, and other assets. Wealth can also refer to the total value of these resources owned by a person, family, community, or country. In general, wealth is seen as a measure of financial prosperity, stability, and security.
Most people would think wealth is the same as money. But money is simply the currency needed to exchange for goods or services, and money will buy less goods or services each year due to inflation. Wealth includes both money, and all the physical and intangible assets that can consistently generate new money. When the interest rate for saving is high, money can also be a good asset if it’s in the savings account. However, when the interest rate is close to 0%, the interest from savings account may not catch up with inflation, and the money in the savings account is actually losing value.
Wealth has many forms. Most common forms include savings, stocks related (including stock ETFs and mutual funds), bonds, cryptocurrencies, gold and silver, real estates, patents, copyrights, arts, collections, and businesses.