If Rich Was a Bitch Why Are We Broke? Conventional Methods to Build Wealth Old & New Techniques for New Money Making Ventures
- Aug 2, 2024
- 2 min read
Wealth Building is Work in Progress and it takes more than saving!
I really had my heart set on waking up Rich today!
Wealth in 2024 is multifaceted—encompassing not just money but also health, ethics, influence, and adaptability in an increasingly digital and unpredictable world.
Old Methods
Increase Saving
Diversify Your Investments
Earn Enough Money To Cover Your Basic Needs
Build Generational Wealth
Modern Methods
Set a Budget — And Don't Override It.
Avoid Lifestyle Creeps that spend your money.
Look for tax savings opportunity
Go “Cash Broke” and Invest wisely into research.
Find diverse income streams not trends.
Set realistic financial goals yearly and review those goals every three months.
Health & Wellness Can Build Wealth
In an era defined by pandemic recovery, health has become an essential aspect of wealth. Wellness, longevity, and mental health are increasingly seen as valuable assets. Investments in biotech, personalized healthcare, and wellness technology are growing, highlighting a new form of wealth tied to health security.
Culture & Social Capital
In 2024, wealth also transcends financial assets to include social and cultural influence. Those with large followings on social media or who control narratives in digital spaces wield significant power. Additionally, communities historically excluded from economic systems, particularly women and minorities, are finding new ways to leverage digital platforms to build wealth.
Example: Robinhood, Acorns, Goodbudget, and Stash
I really had my heart set on waking up Rich on Monday morning
AI & Automation
Artificial intelligence and automation are reshaping the job market and wealth distribution. While creating opportunities in tech-related industries, automation has also intensified inequality, as many traditional jobs have been replaced by machines. Those with skills in AI, robotics, and data science are reaping the benefits of this shift, widening the gap between those who can adapt and those who cannot.
I really had my heart set on waking up Rich this week!
Digital Assets and Crypto: Cryptocurrency and blockchain technology have cemented their place in modern wealth portfolios. Digital currencies like Bitcoin and Ethereum continue to rise in value, with decentralized finance (DeFi) becoming a mainstream investment option. Non-fungible tokens (NFTs) have also found long-term appeal, expanding beyond art to include digital real estate and intellectual property.
In 2024, and future wealth building has become more complex than simply accumulating financial assets. And being financially attentive, Is increasingly defined by access to resources, networks, and opportunities, reflecting shifts in global economic dynamics, technology, and sustainability that wealth today is as much about access, resilience, and impact as it is about money.
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