In this article I want to cover a very important issue that all people should pay attention—the difference between being “rich” and “wealthy”. I define “rich” people as people who have a high income and “wealthy” people as people who have a high net worth. There are many rich people such as CEOs, rock stars, football players, etc. who have very high incomes but have little or no wealth. When they get fired or quit their jobs, they lose their only source of income and become destitute--especially as many of them have become accustom to living at their previous level of income.

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